3 Questions
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?
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.
A company wishes to group its location records into a hierarchy to assist users in searching for assets. How can this be accomplished?
Location records need to be added a system and can only include locations with an OPERATING type.
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?
Add the assets in Multiple Assets, Locations and Cls. 154.
Test your knowledge on managing vendor payments and grouping location records to assist in searching for assets. Learn about withholding payments, grouping location records, and managing maintenance work orders with rolled-up charges to a single GL account.
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