Vendor and Purchasing MCQs on Peach Tree

By: Prof. Dr. Fazal Rehman | Last updated: August 1, 2024

  1. Which Peachtree feature is used to record purchases from vendors?
    a) Purchase Orders
    b) Purchase Receipts
    c) Bills
    d) Vendor Payments
    Answer: b) Purchase Receipts
  2. How can you create a new vendor record in Peachtree?
    a) Use the Vendor List and select New Vendor
    b) Access the Purchase Orders module and add a new vendor
    c) Enter vendor details in the Accounts Payable module
    d) Use the Vendors & Payments menu
    Answer: a) Use the Vendor List and select New Vendor
  3. What information is typically required when setting up a new vendor in Peachtree?
    a) Vendor name, address, contact information, and payment terms
    b) Vendor name, product categories, and discount rates
    c) Vendor contact information, purchase history, and credit limit
    d) Vendor name, invoice number, and payment method
    Answer: a) Vendor name, address, contact information, and payment terms
  4. Which Peachtree document is used to request goods or services from a vendor?
    a) Purchase Order
    b) Purchase Receipt
    c) Bill
    d) Vendor Quote
    Answer: a) Purchase Order
  5. How do you record a bill from a vendor in Peachtree?
    a) Use the Bills feature under Accounts Payable
    b) Enter the details in the Purchase Orders module
    c) Create a new Purchase Receipt
    d) Update the Vendor Record with the bill details
    Answer: a) Use the Bills feature under Accounts Payable
  6. Which Peachtree report provides an overview of all outstanding vendor bills and payments?
    a) Accounts Payable Report
    b) Vendor Activity Report
    c) Purchase History Report
    d) Outstanding Bills Report
    Answer: a) Accounts Payable Report
  7. To track and manage vendor payments, which Peachtree feature should you use?
    a) Vendor Payments
    b) Payment Receipts
    c) Purchase Orders
    d) Bills and Adjustments
    Answer: a) Vendor Payments
  8. How can you view the transaction history for a specific vendor in Peachtree?
    a) Use the Vendor History feature under Accounts Payable
    b) Check the Purchase Order History
    c) Review the Bills and Payments log
    d) Generate a Vendor Summary Report
    Answer: a) Use the Vendor History feature under Accounts Payable
  9. What action should you take if you need to correct an error in a recorded vendor bill?
    a) Edit the bill details directly and save the changes
    b) Use the Adjust Bill feature to correct the error
    c) Create a new bill with the correct details and void the incorrect one
    d) Adjust the bill amount through the Accounts Payable module
    Answer: c) Create a new bill with the correct details and void the incorrect one
  10. Which Peachtree feature helps manage and track vendor discounts?
    a) Vendor Setup
    b) Purchase Orders
    c) Bills and Payments
    d) Vendor Terms
    Answer: a) Vendor Setup

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