Which of the following is a method to process payments in Accounts Payable?

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BlackTom AI · Accepted Answer

The question asks: Which of the following is a method to process payments in Accounts Payable? 
Option 1: 'Payment Entry' — This refers to the basic action of entering payment details into the system, which is a fundamental step in processing payments. It is indeed a method used in AP to record and authorize payments. 
Option 2: 'Create Payment Batches' — Grouping multiple payments into batches is a common workflow that streamlines approval, printing, and disbursement processes; it is another valid method used in AP payment processing. 
Option 3: 'all of the above' — This option suggests that more than one method exists and that the listed methods together cover the ways to process payments. If multiple methods are applicable in the system, selecting this option would be accurate because it acknowledges multiple valid approaches. 
Option 4: 'Invoice Entry' — Entering invoices is the precursor step in Accounts Payable for recognizing liabilities and scheduling payments; while it doesn’t itself execute a payment, it is an essential part of the AP workflow that enables subsequent payment processing. It is a legitimate component of the overall payment processing cycle, though on its own it does not complete a payment. 
In summary, each of the first three options identifies a distinct aspect of the payment processing workflow, while the fourth option describes a related step that enables payments but does not by itself execute a payment. The framing of the question emphasizes methods to process payments, which commonly includes entering payments, batching payments, and the broader cycle that includes invoice entry as a foundational step. Therefore, depending on how the question is interpreted, multiple options describe valid elements of payment processing in Accounts Payable.

SG30018E2 - Sage 300 2018 Accounts Payable Final Exam

Which of the following is a method to process payments in Accounts Payable?

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