Chapter 6. Accounts Payable
Accounts Payable Exercises
The following exercises are intended to test your knowledge of the A/P files and
how certain features are set up.
Each of the 7 problems has a specific solution, which can be found in Appendix B.
Self-check at the end of the exercises.
1. Add a miscellaneous vendor for one-time purchases. This vendor will need to
have separate checks for each invoice.
2. Add National Hardware as vendor 500. Their terms are 1% 15 days. When
you receive items from this vendor, you would like the system to add a record
to the Multiple Vendor File (if one doesn’t exist for the item). When you
create purchase orders, you would like the catalog number default to come
from the inventory file and to use the last cost.
3. Add Local Telephone as vendor 300. Use G/L account 6260 (Telephone
Expense) as the debit account.
4. Add Stanley Tool as vendor 900 with a pay to of National Vendor (vendor
500). Their terms are 1% 10
th
. When you receive items from this vendor, you
do not want the system to add records to the Multiple Vendor File. When you
create purchase orders for this vendor, you would like the catalog default to be
the manufacturer’s number and to use average cost.
5. Change Local Telephone’s address to PO Box 5468.
6. Print a list of vendors’ names and addresses.
7. During the cutover process for A/P, you want to enter YTD purchases,
discounts and amount paid to each vendor. Enter some figures for Stanley
Tool.
276 Dimensions 14
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