GFEBS L251E Accounts Payable Process Overview Exam Questions With 100% Correct Answers.

any person including employees or org that provides goos or services to the army and must be paid Invoice - 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 - payment method that provides automatic electronic transferral of funds both payments and collections thereby eliminating the need for a written check Miscellaneous Payments -non contractural venddor invoices processed in gfebs Prompt Payment Act (PPA - 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 - 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 - non contractual vendor invoices processed in gfebs Payment Program - program that generats the payments identified in the payment proposal Payment Proposal - 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 - step that generates payments files for transmission to disbursing systems containing only those items certified for paymentReady-to-Pay File - collective data file that captures transactions due for a payment Miscellaneous payment invoices are non-contractual vendor invoices processed in GFEBS - true Miscellaneous payment invoices are non-contractual vendor invoices processed in GFEBS - true: The definition of a vendor is any person (including employees) or organization that provides goods or services to the Army and must be paid