Exam (elaborations)
GFEBS L251E Accounts Payable Process Overview Questions with correct Answers 2024
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GFEBS L251E Accounts Payable Process Overview
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GFEBS L251E Accounts Payable Process Overview- answer any person including employees or org that provides goos or services to the army and must be paid
Invoice - answer commercial doc that a seller issures to a buyer. the invoice indicates the products, qty, and agreed upon pricwes for products or services that the seller has already provided the buyer
Electronic Funds Transfer (EFT - answer payment method that provides automatic electronic transferral of funds both payments and collections thereby eliminating the need for a written check
Miscellaneous Payments - answer non contractural venddor invoices processed in gfebs
Prompt Payment Act (PPA - answer statute that requires fed agencies to pay their bills on a timely basis to pay interest penalties when payment are made late, and to take
discounts only when payments are made by the dicount date
Matching - answer actions of comparing a vendor invoice to the other gfebs doc for verification and authorization including the purchase order funds commitment and goods receipt docmument
Blocked Invoice - answer non contractual vendor invoices processed in gfebs
Payment Program - answer program that generats the payments identified in the payment proposal
Payment Proposal - answer display of proposed vendor invoice payments based on user difined selection parameters. the payment proposal differentiates between the various types of payments to be made
Payment Run - answer step that generates payments files for transmission to disbursing systems containing only those items certified for payment
Ready-to-Pay File - answer collective data file that captures transactions due for a payment
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