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Quizzes > Business & Finance > Finance & Economics

Accounts Payable Quiz: Test Your SAP AP Knowledge

Think you can ace this accounts payable exam? Start now!

Difficulty: Moderate
2-5mins
Learning OutcomesCheat Sheet
Paper art illustration of accounts payable quiz featuring T codes vendor data invoice and calculator on coral background

This accounts payable test helps you practice SAP AP tasks like T-codes, vendor setup, and invoice processing. Use it to check gaps before an exam or interview, see your score, and practice more with a quick SAP S/4HANA FI sample quiz .

Which transaction code is used to display vendor master data in SAP?
XK03
FD03
FK03
VD03
XK03 is the standard transaction code used to display vendor master records in SAP. It allows viewing all of the vendor's company code and purchasing organization data without edit rights. Other codes like FD03 and FK03 are specific to different financial modules. It ensures that users maintain data integrity while reviewing vendor information.
Which transaction code is used to post a vendor invoice in SAP FI?
MIRO
FV60
FB60
FB65
FB60 is the SAP FI transaction for posting vendor invoices without referencing a purchase order. MIRO is used in the MM component for invoice verification against POs. FV60 is for parking invoices, and FB65 is used for posting vendor credit memos. FB60 directly posts the invoice to the vendor account.
Which transaction code would you use to create a new vendor master record in SAP?
MK01
XK01
FD01
FK01
XK01 is the universal transaction code for creating vendor master records across both FI and MM modules. FD01 is specific to the New General Ledger, FK01 to the Funds Management component, and MK01 to the Logistics Invoice Verification area. XK01 ensures all necessary company code and purchasing data views are generated.
In the vendor master account group settings, what does the account group primarily control?
Credit limit
Payment terms
Company code assignment
Field selection and number ranges
The account group in vendor master settings determines which fields are displayed, optional, or hidden and assigns the number range intervals. It does not directly set payment terms or credit limits, which are maintained in other configurations. Proper account group setup is essential for consistent master data entry.
In vendor master, which view contains the Payment Terms field?
Payment transactions
Company code data
Sales data
Purchasing data
The Payment Terms field is maintained under the Company Code Data view of the vendor master. This view controls financial postings such as payment and accounting parameters. The Payment Transactions view is used for bank details and payment methods, not terms. Correct view selection ensures accurate invoice processing.
Which transaction code do you use to clear vendor open items in SAP?
F-03
F-53
F-44
F-32
F-44 is the SAP transaction code for clearing vendor line items. It allows you to select open vendor invoices and incoming payments for clearing. F-32 is used for customer clearing, and F-03 is for general GL clearing. F-53 posts outgoing payments rather than clearing.
In MIRO, which invoice type is used for a goods receipt-based invoice verification?
Standard Invoice
GR-Based Invoice
Subsequent Debit
Credit Memo
The GR-Based Invoice type in MIRO is used to post invoices based on the goods receipt quantity and price. Standard Invoices do not reference a goods receipt and allow full manual entry. Credit Memos and Subsequent Debits handle returns and additional charges respectively. GR-based processing ensures accurate matching to received goods.
Which customizing object assigns number ranges to vendor master records?
Vendor account group
Purchasing organization
Company code
Field selection group
In SAP customizing, the Vendor Account Group determines the number range intervals that apply to vendor master records. Each account group is linked to a specific number range object. Company code and purchasing organization assignments are maintained separately. Proper account group setup is critical for master data governance.
Which transaction code is used to maintain tolerance keys for Accounts Payable postings?
OB29
OBB8
OB52
OB28
OB28 is the SAP transaction code where you define tolerance groups for posting in Accounts Payable. Tolerance keys control the allowable variances for items like cash discount and payment differences. OB29 and OB52 serve other financial configuration purposes, and OBB8 is for payment methods per country. Correct tolerance setup prevents posting errors.
Which transaction code is used to park a vendor invoice without posting?
FV60
F-02
FB60
F-65
FV60 is the SAP transaction used to park vendor invoices, allowing you to save the document in a preliminary state without affecting financial accounts. FB60 posts the invoice immediately, while F-02 is a general posting tool. F-65 is for parking vendor credit memos. Parking is useful for review or batch processing.
What does the baseline date determine during invoice processing?
Posting date
Posting period
Due date calculation
Document date
The baseline date is used in conjunction with payment terms to calculate the invoice due date. It does not affect the posting or document date. Vendors often negotiate payment terms based on this date. Accurate baseline date entry ensures timely payments and correct aging analysis.
In an SAP vendor invoice, which field captures the vendor's reference number?
Assignment
Document header text
Reference
Payment method
The Reference field in an SAP invoice is used to record the vendor's own invoice or reference number. Document header text is for internal comments, and the Assignment field is used for cross-company code clearing references. Payment method specifies how the payment should be executed. Capturing the vendor reference ensures easier reconciliation.
What role does the vendor reconciliation account play in SAP?
Defines number ranges
Posts sub-ledger postings to the general ledger
Stores payment terms
Controls vendor master data
The vendor reconciliation account is a general ledger account that automatically records all sub-ledger postings for a vendor. It ensures the sub-ledger (vendor line items) and general ledger remain in sync. This account type cannot be posted to directly by users. Proper reconciliation account setup is key to accurate financial reporting.
Which transaction code is used to define number range intervals for FI documents, including vendor payments?
OB21
FBZP
FBN1
OB08
FBN1 is the SAP transaction to configure number range intervals for financial document types, including vendor payment documents. FBZP is for payment program parameters, OB08 is for exchange rates, and OB21 is for tax code settings. Proper number range maintenance prevents document duplication errors.
During an automatic payment run, which parameter would you adjust to exclude small invoices below a certain amount?
Payment file name
Payment method
Minimum payment amount
House bank
The Minimum Payment Amount parameter in F110 allows you to set a threshold below which invoices will not be included in the payment proposal. This helps avoid processing very small payments. Other parameters like payment method and house bank control how payments are executed, not the invoice selection.
Which SAP table stores the vendor master general data such as address and control data?
LFBK
LFA1
LFM1
LFB1
LFA1 is the SAP table that stores the central general data for vendor master records, including name, address, and control data. LFB1 holds company code-specific data, LFM1 is purchasing data, and LFBK contains bank details. Knowing table structures is crucial for data extraction and reporting.
What is the purpose of a payment block in the vendor invoice process?
To hold posting until end of period
To define payment methods
To assign payment terms
To prevent invoice payment until clearing issues are resolved
A payment block is used to hold vendor invoices from being selected in the payment run until any discrepancies or approvals are addressed. It does not affect posting periods or payment terms. Users can apply and remove blocks manually or via workflow. This ensures only accurate and approved invoices are paid.
Which special G/L indicator is used for down payments to vendors?
C
A
S
B
Special G/L indicator 'A' is designated for down payment requests in vendor transactions. This indicator ensures that down payments are tracked separately from standard open items. Other indicators like 'S' are used for guarantees or bills of exchange. Proper use of special G/L keys is essential for accurate sub-ledger reporting.
Which SAP table stores the payment proposal items created by transaction F110?
BKPF
REGUP
BSEG
REGUH
REGUP is the database table that holds individual line items of the payment proposal generated by F110. REGUH stores the payment proposal header data. BKPF and BSEG are used for posted financial documents rather than proposal data. Understanding these tables is critical for custom reporting and troubleshooting.
Which transaction code is used to configure the parameters of the automatic payment program in SAP?
OB08
F110
OBPM1
FBZP
FBZP is the customizing transaction where you define all parameters for the automatic payment program, such as payment methods, house banks, and company code settings. F110 triggers the payment run itself. OB08 is for exchange rate tables, and OBPM1 is for payment methods per country via IMG paths. Proper FBZP configuration is essential for accurate payment processing.
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Study Outcomes

  1. Identify Essential AP T-Codes -

    Pinpoint and explain the key SAP T-codes used in accounts payable test scenarios, boosting your efficiency in transaction processing.

  2. Apply Vendor Data Management -

    Demonstrate proper creation and maintenance of vendor master data in SAP, ensuring accuracy and compliance in accounts payable operations.

  3. Process Invoice Transactions -

    Use relevant SAP T-codes to execute invoice entry, matching, and posting tasks, simulating real-world AP challenges.

  4. Analyze Discrepancies -

    Detect and resolve common invoice and vendor statement mismatches, improving audit readiness and financial accuracy.

  5. Prepare for the Accounts Payable Exam -

    Practice with scored quiz items to gauge your readiness for the accounts payable exam and pinpoint knowledge gaps.

  6. Utilize Practice Resources -

    Access and study downloadable accounts payable test questions and answers PDF to reinforce learning and track your progress.

Cheat Sheet

  1. SAP AP T-codes Essentials -

    Master core SAP AP T-codes MIRO, FB60 and F-43, using a mnemonic "Many Bills Flow Freely" to aid recall. SAP Help Portal provides step-by-step guides and authorization configurations. Practicing these scripts is key to excelling in an accounts payable test or exam and complements any accounts payable test questions and answers pdf you use.

  2. Vendor Master Data Setup -

    Accurate vendor master data underpins smooth AP processing; use transaction codes XK01/XK02 and verify data in tables LFA1/LFB1. Remember "PICME" (Payment terms, Invoicing, Contact info, Methods, Company code) to ensure completeness. University of Texas accounting studies highlight data integrity as a top AP control.

  3. Three-way Invoice Matching -

    The three-way match - PO, goods receipt, and invoice - prevents discrepancies; always verify PO qty = GR qty = IV qty. Think "POG-match" to memorize Purchase, Outbound, Goods. APQC research shows three-way matching cuts payment errors by 70%.

  4. Invoice Blocking & Error Resolution -

    Use MIRO to post invoices but monitor invoice blocks (price, quantity, tax differences) via code FB60 for non-PO invoices. Resolve blocks by reviewing message logs and adjusting document entries in the SAP Fiori "Manage Invoice Blocks" app. Official SAP notes detail common block codes and corrections.

  5. Key AP Performance Metrics -

    Key AP metrics like Days Payable Outstanding (DPO) and invoice processing time gauge efficiency; DPO = (Accounts Payable / Cost of Goods Sold) × 365. If AP = 200 000 and COGS = 1 000 000, then DPO = 73 days, a healthy benchmark. CFO Institute research links lower DPO to improved cash flow and vendor relationships.

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