Accounts Payable Certification Practice Test

What should you check if the Payables to General Ledger Reconciliation report did not select any data?

1. Make sure you assign an Account parameter when running the extract.

2. Ensure you assigned a Financial Category of Accounts Payable to all liability accounts.

3. Enable the Reconciliation flag for all liability natural accounts.

4. Specify a Business Unit in the parameters when running the extract.

The correct answer is: Ensure you assigned a Financial Category of Accounts Payable to all liability accounts.

The correct choice focuses on the importance of ensuring that all liability accounts have been assigned the Financial Category of Accounts Payable. This categorization is crucial because it determines how the accounts are treated within the accounting system and affects the inclusion of these accounts in the reconciliation process. When liability accounts are properly categorized, they will show up in the reconciliation report, thereby facilitating accurate financial reporting and analysis. If an account is not classified under Accounts Payable, then the system may exclude it from the reconciliation process, leading to an empty report. This is why verifying the Financial Category assignment is essential for ensuring that all relevant data is captured and reported appropriately. In terms of the other choices, assigning an Account parameter or specifying a Business Unit are useful steps in running reports but may not address the underlying issue of classification. Enabling the Reconciliation flag for all liability natural accounts may also impact how accounts are treated in reporting but would not resolve the foundational problem of proper categorization.