Generating and paying bills MCQs on Peach Tree

1. Which Peachtree feature is used to generate a new bill from a vendor?
   a) Bills
   b) Purchase Orders
   c) Vendor Payments
   d) Purchase Receipts
   Answer: a) Bills
2. How do you enter a bill for an invoice received from a vendor in Peachtree?
   a) Use the Bills feature under Accounts Payable
   b) Create a new Purchase Order
   c) Record a new Vendor Payment
   d) Enter the details in the Purchase Receipts module
   Answer: a) Use the Bills feature under Accounts Payable
3. When you need to pay a vendor bill in Peachtree, which feature should you use?
   a) Vendor Payments
   b) Bills
   c) Purchase Orders
   d) Payment Receipts
   Answer: a) Vendor Payments
4. To ensure that a bill is correctly recorded and paid, which steps should you follow?
   a) Record the bill and then apply a payment to it
   b) Create a Purchase Order and adjust the bill accordingly
   c) Record the payment and then create a bill
   d) Enter the details in the Purchase Receipts section first
   Answer: a) Record the bill and then apply a payment to it
5. What report in Peachtree provides an overview of all unpaid vendor bills?
   a) Accounts Payable Aging Report
   b) Unpaid Bills Report
   c) Vendor Payment Report
   d) Purchase Orders Report
   Answer: a) Accounts Payable Aging Report
6. Which Peachtree option should you use to pay multiple vendor bills at once?
   a) Batch Payments
   b) Pay Multiple Bills
   c) Vendor Payment Batch
   d) Pay Vendors
   Answer: a) Batch Payments
7. How can you track the status of a bill that has been partially paid?
   a) Check the Bill History or Account Details
   b) Review the Purchase Orders module
   c) Generate a Vendor Payments Report
   d) View the Accounts Payable Aging Report
   Answer: a) Check the Bill History or Account Details
8. To correct an error in a recorded bill, what should you do?
   a) Adjust or void the bill and re-enter it correctly
   b) Edit the bill directly and save the changes
   c) Create a new bill with the correct details and delete the old one
   d) Record a separate adjustment entry to correct the error
   Answer: a) Adjust or void the bill and re-enter it correctly
9. What information is typically required to record a vendor payment?
   a) Payment amount, date, vendor name, and applied bills
   b) Payment amount, vendor address, and bill reference
   c) Payment method, vendor contact details, and invoice number
   d) Payment date, bill number, and purchase order details
   Answer: a) Payment amount, date, vendor name, and applied bills
10. Which Peachtree report helps track and manage vendor payments and adjustments?
    a) Accounts Payable Report
    b) Vendor Payments Report
    c) Bill Summary Report
    d) Payment History Report
    Answer: b) Vendor Payments Report

More MCQs on Peachtree

• Main navigation areas (e.g., Customers & Sales, Inventory & Services)
• Using menus and icons
• Accessing and customizing reports
• Customer and Sales Management MCQs
  • Creating and managing customer records
  • Processing sales invoices
  • Handling sales returns and adjustments
• Inventory Management MCQs
  • Setting up and maintaining inventory items
  • Recording inventory purchases and adjustments
  • Tracking inventory levels and costs
• Vendor and Purchasing MCQs
  • Creating and managing vendor records
  • Recording purchase orders and bills
  • Handling vendor payments and adjustments
• Accounts Payable and Receivable MCQs
  • Managing accounts payable (AP) and accounts receivable (AR)
  • Generating and paying bills
  • Invoicing customers and receiving payments
• General Ledger and Journal Entries MCQs
  • Understanding the general ledger structure
  • Recording and adjusting journal entries
  • Managing and reconciling accounts
• Payroll and Employee Management MCQs
  • Setting up employee records
  • Processing payroll and employee deductions
  • Handling employee benefits and taxes
• Financial Statements and Reports MCQs:
  • Generating and interpreting financial statements (e.g., Balance Sheet, Income Statement)
  • Customizing and analyzing reports
  • Understanding key financial metrics
• Backup and Data Management MCQs
  • Performing and restoring backups
  • Managing data integrity and security
  • Handling data migrations and updates
• System Configuration and Setup MCQs
  • Setting up company information and preferences
  • Customizing forms and templates
  • Configuring system settings and user permissions
• Troubleshooting and Support MCQs
  • Common issues and solutions
  • Accessing help resources and support
  • Performing basic troubleshooting steps
• Integration and Advanced Features MCQs
  • Integrating with other software or systems
  • Using advanced features like job costing or project management
  • Exploring additional modules or functionalities MCQs