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

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