The key piece(s) of data required for Invoice Verification is/are: Master data O

Question

The key piece(s) of data required for Invoice Verification is/are: Master data O Transaction data None of the answers are correct. O All of these answers are correct. Question 18 1 pts Why is it important that the PO is referenced when processing a goods receipt (when material is delievered from your vendor)? Goods receiving can check wheter the delivery actualy corresponds to the order. O O The system can propose data from the purchase order during entry of the goods receipt (for example, the material ordered, its quantity, and so on). This simplifies both data entry and checking (overdeliveries and underdeliveries) The delivery is marked in the purchase order history. This allows the Purchasing department to monitor the purchase order history and initiate reminder procedures in the event of a late delivery. O The vendor invoice is checked against the ordered quantity and the delivered quantity. O The goods receipt is valuated on the basis of the purchase order price or the invoice price. O All of the above

Explanation / Answer

For invoice verification, the concerned department will verify all the details to ensure financial safety. Details like information regarding the vendor stated, order received, any transactions made before like advance etc., are verified and only then the payments are made. Hence an invoice verification requires both master data and transactional data. Hence both the given answers are correct.

18) A purchase order contains all the information right from vendor details to the order given in detail. This is used for companies to verify orders, initiate payments and verification purposes. Based on this purchase order only the goods are accepted at the customer's place. The goods can be checked and be verified using the purchase order. Hence all the given statements of correct and the answer is all of the above.

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