10 Questions
What information must be contained in the Business Partner Master File?
Location of the Business Partner
Who is responsible for maintaining the Business Partner Master File?
Finance Department
What transactions is the Business Partner Master File Administrator not allowed to process?
Processing payments
Under what circumstances may a business partner's account be blacklisted?
Default in payment of accounts
Why is access to the Business Partner Master File controlled?
To maintain the security and integrity of data
What is the purpose of maintaining a Business Partner Library?
To standardize the code assigned to business partners of METS En Co.
What type of documents must support new business partner additions in the Business Partner Master File?
Approved Customer Information Sheet
How should a business partner code be formed according to the policy?
Including the first three characters of the vendor's name and a serial number padded with zeros
What information should be added to the Business Partner Master File as per the policy statement?
Only information from an approved list of documents
Why is it essential to maintain correct information in the Business Partner Master File?
To avoid errors in critical processes like setting up customer accounts
Test your knowledge on the policy statement for maintaining a Business Partner Master File in the revenue cycle. Learn about guidelines for setting up customer and vendor accounts, and the importance of maintaining a Business Partner Library.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
