Purchase Orders
Purchase Order Essentials Quiz
Welcome to the Purchase Order Essentials Quiz! This quiz is designed to test your knowledge about the purchase order process in Netsuite, a crucial aspect of financial operations in many businesses.
By participating in this quiz, you will:
- Enhance your understanding of purchase order best practices
- Identify key information needed for creating purchase orders
- Learn when and why to use purchase orders effectively
Which of the following is not the reason for entering a purchase order in Netsuite?
A. Allows for proper sign off on purchases
B. Creates more work for accounting
C. Ensures expenses are posted timely
D. Allows accounting to pay vendors accurately
E. Notifies accounting of upcoming purchases
A purchase order is necessary for all of the following except:
A. Outside lab work
B. Equipment rental
C. Expense report related purchases
D. Subcontractor services
E. Supply purchases
When should an employee enter a purchase order into Netsuite?
A. When notified by accounting that a purchase order is needed
B. When the ordering party receives the vendor invoice
C. Before placing an order with outside vendors
D. When one recalls placing the order days after
E. When one finds the time to enter the purchase order in Netsuite
When placing an order with outside vendors, what information MUST employees give to the supplier to include on vendor invoices for prompt payment processing?
A. The FACS credit card number to charge for the purchase
B. A Netsuite generated purchase order number
C. Company tax ID number
D. Vendor payment terms
E. An Estimated payment date
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