The first step in initiating an Evaluated Receipts Settlement (ERS) transaction is the _______.
A)contract, which may be the only "electronic" element in the process.
B)payment, which may be the only "paperwork" in the process.
C)contract, which may be the only "paperwork" in the process.
D)payment, which may be the only "electronic" element in the process.

Question

Quizplus · Accepted Answer

The first step in initiating an ERS transaction is the contract, which may be the only paperwork in the process. This is because ERS is a process where a supplier's invoice is matched with the purchase order and goods receipt, and payment is automatically initiated without the need for manual validation or approval. Therefore, the contract is essential to establish the terms and conditions of the transaction, including the goods or services to be provided, pricing, and delivery schedules.

The First Step in Initiating an Evaluated Receipts Settlement (ERS)