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A vendor requires a payment of 20% of the purchase price when the purchase order (PO) is sent and the company wants to withhold of the payment until 90 days after receiving the item before final payment is made. How would this be accomplished?

  • Purchase Requisition would be created and three invoices would be generated via the invoicing application. One invoice for 20%, one for 60% and one for 20%.
  • Price Contract would be created with a payment schedule with an invoice of 20% at the time the PO is Approved, an invoice of 60% at the time the item is received and another invoice for 20% 90 days after receipt.
  • A Blanket Contract would be created with a payment schedule with an invoice of 20% at the time the PO is Approved, an invoice of 60% at the time the item is received and another invoice for 20% 90 days after receipt.
  • A Purchase Contract would be created with a payment schedule with an invoice of 20% at the time the PO is Approved, an invoice of 60% at the time the item is received and another invoice for 20% 90 days after receipt. (correct)

    • A company wishes to group its location records into a hierarchy to assist users in searching for assets. How can this be accomplished?

  • Location Groups can be created and LIVE locations added.
  • Locations can be linked by using the Related Records tab in the Locations application.
  • Location records will need to be added to a network and can only include locations with an ACTIVE status.
  • Location records need to be added a system and can only include locations with an OPERATING type. (correct)

    • A company has assets at multiple locations that require maintenance. There is a requirement to have a single work order with charges rolled up to a single GL account. How can that be achieved?

  • Create a task work order for each asset.
  • Create a child work order for each asset.
  • Add a job plan that has the assets associated.
  • Add the assets in Multiple Assets, Locations and Cls. 154. (correct)

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