Microsoft
MB-800 · Question #16
A company purchases items by using cash. You register a vendor payment when you a post a purchase invoice for a cash vendor. You are creating a new cash vendor. You need to set up the vendor so that…
The correct answer is C. Payment Method as Cash with balancing account. This setup will allow you to automatically post payments when posting a purchase invoice. You'll need to specify a balancing account where the payments will be posted. This is usually a bank account or a cash account.
Purchasing
Question
A company purchases items by using cash. You register a vendor payment when you a post a purchase invoice for a cash vendor. You are creating a new cash vendor. You need to set up the vendor so that payments post automatically when you post a purchase invoice. Which type of setup should you use?
Options
- APayment Method as Cash
- BPayment Term as COD
- CPayment Method as Cash with balancing account
- DPrepayment
How the community answered
(29 responses)- A14% (4)
- B3% (1)
- C76% (22)
- D7% (2)
Explanation
This setup will allow you to automatically post payments when posting a purchase invoice. You'll need to specify a balancing account where the payments will be posted. This is usually a bank account or a cash account.
Topics
#payment method#cash vendor#balance account#automatic payment posting
Community Discussion
No community discussion yet for this question.