Vendor Onboarding
Payments
Debits vs. Credits
Accounting
KYT
100
Name 5 punchout suppliers
What are Amazon, Uline, Digikey, CDW and All Industrial.
100
What are our payment types?
ACH, Wires, Credit Cards and Checks
100
An increase to an expense account is normally recorded on this side
What is the debit side?
100
The fundamental accounting equation is assets equal liabilities plus this.
What is equity?
100
What is Patty's favorite band?
What is No Doubt
200
Which team is able to onboard Suppliers in Netsuite?
Who is supply chain?
200
What are standard payment terms at Vast?
Net 60, per our T's and C's
200
An increase on the liability is normally recorded on this side
What is the credit side?
200
Revenue minus expense produces this result
What is net income?
200
This person claims to be very frugal
Dennis
300
What documents do you need to onboard a supplier?
What are NDA, Vast supplier intake form, W9?
300
When are credit cards used for invoices?
What are one off purchases, and new vendors that don't accept terms. Ideally, we should negotiate terms.
300
Paying a supplier normally creates a credit to cash and this entry to accounts payable?
What is a debit?
300
Cash, inventory, and AR belong to this financial statement?
What are assets?
300
Who wants to be an millionaire?
Daniel
400
What system do we use for Restricted Party Screening?
(RPS)
What is Descartes?
400
Top 3 reasons a payment is delayed?
What are pending approvals, missing PO, pending onboarding documents
400
When a company purchases supplies for cash, the supplier's account receives this type of entry
What is a debit?
400
Spreading the cost of a tangible long term asset across useful life is called this.
What is deprecation?
400
Who on the team is heard before they are seen?
Vincent, keys jangling 
500
What type of suppliers require a W8-BEN?
What is the difference between W8-BENE and W8-BEN? Bonus 100pts
What are international Suppliers.
W8-BEN are for Individuals
W8-BENE are for Entities
500
Name the cut off times for Same day ACH and Wires
What is 12 PST for same day ACH and 2pm PST for wires.
500
Which day of close is the accounting team's deadline?
Bonus 100 pts name the day for a normal month and the day for a quarter close
What is day 5 for a normal month and day 7 for the quarter close?
500
Expenses paid before they are incurred are initially recorded in this asset category.
What are prepaid expenses?
500
What room in their house did this AP Specialist recently remodel?
What is Bertha's Kitchen
600
Which AP Software are we reviewing to replace Ramp?
What is Medius?
600
What is the payment schedule for Accounts Payable?
Every Monday the AP Sheet is sent to Max for approval, Max Approves by wednesday and payments are approved by Patty, then released by Catherine
600
Under this accounting method, revenue and expense are generally recorded when earned or incurred not when cash changes hands.
What is accrual accounting?
600
This financial statement reports on assets, liabilities and equity on a specific date
What is a balance sheet?
600
What is the name of Mayckol's new baby boy?
Teddy