Accounts Payable Certification Practice Test

Which statement is true regarding selecting a bank account on the Create Payment page?

1. Bank account must match the supplier's bank account

2. Users can pick any bank account in their system

3. LE on the bank account should differ from the LE on the invoice

4. Users can pick bank accounts linked to their business unit

The correct answer is: Users can pick bank accounts linked to their business unit

The statement indicating that users can pick bank accounts linked to their business unit is accurate and reflects common practices in accounts payable processes. Each business unit typically has designated bank accounts that are authorized for transactions related to payment processing. This ensures that payments are made from accounts that are relevant to the respective business unit's financial activities, maintaining proper accounting and compliance standards. Using bank accounts linked to a specific business unit aids in managing cash flow and helps streamline financial reporting. It also ensures that accounts are appropriately funded and that the organization can effectively manage its payables alongside other financial obligations. By requiring that the bank account be tied to the business unit, companies mitigate risks associated with payments being made from unfamiliar or unauthorized accounts. The other statements may imply incorrect controls or practices surrounding bank account usage in the accounts payable process. Each of them introduces considerations that do not reflect standard protocols for selecting bank accounts for making payments.