Invoicing customers and receiving payments MCQs on Peach Tree

1. Which Peachtree feature is used to create and send an invoice to a customer?
   a) Invoices
   b) Sales Orders
   c) Customer Payments
   d) Accounts Receivable
   Answer: a) Invoices
2. When recording a customer payment in Peachtree, which feature should you use?
   a) Customer Payments
   b) Sales Orders
   c) Invoices
   d) Accounts Receivable Adjustments
   Answer: a) Customer Payments
3. How can you apply a payment to an outstanding customer invoice?
   a) Use the Apply Payments feature in the Customer Payments module
   b) Record the payment directly in the Invoices module
   c) Adjust the invoice amount to match the payment
   d) Create a new invoice for the payment amount
   Answer: a) Use the Apply Payments feature in the Customer Payments module
4. To track overdue customer invoices, which report should you use?
   a) Accounts Receivable Aging Report
   b) Sales Transactions Report
   c) Customer Payment History Report
   d) Invoice Summary Report
   Answer: a) Accounts Receivable Aging Report
5. What information is typically required when entering a customer payment?
   a) Payment amount, date, customer name, and applied invoice(s)
   b) Customer name, payment method, and invoice reference
   c) Payment amount, invoice number, and product details
   d) Payment date, payment terms, and customer contact information
   Answer: a) Payment amount, date, customer name, and applied invoice(s)
6. Which Peachtree feature allows you to issue a credit to a customer for a returned product?
   a) Customer Credits
   b) Invoice Adjustments
   c) Sales Orders
   d) Accounts Receivable Adjustments
   Answer: a) Customer Credits
7. How do you handle a partial payment received from a customer?
   a) Apply the partial payment to the invoice and adjust the remaining balance
   b) Record a new invoice for the partial payment amount
   c) Adjust the original invoice to reflect the partial payment
   d) Create a credit memo for the remaining balance
   Answer: a) Apply the partial payment to the invoice and adjust the remaining balance
8. Which Peachtree report helps you review all customer payments made during a specific period?
   a) Customer Payments Report
   b) Accounts Receivable Report
   c) Sales Transactions Report
   d) Payment History Report
   Answer: a) Customer Payments Report
9. To issue a refund to a customer for an overpayment, which Peachtree feature should you use?
   a) Customer Credits
   b) Invoice Adjustments
   c) Customer Refunds
   d) Accounts Receivable Adjustments
   Answer: c) Customer Refunds
10. What action should you take if you need to correct an error in a recorded customer invoice?
    a) Adjust the invoice or issue a credit memo and re-enter the correct invoice
    b) Edit the invoice details directly and save the changes
    c) Delete the invoice and create a new one
    d) Create a separate adjustment entry to correct the invoice
    Answer: a) Adjust the invoice or issue a credit memo and re-enter the correct invoice

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