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QUESTION NO:61
In the customer hierarchy of ABC Corporation, ABC Worldwide is the parent
company of ABC USA and ABC Japan. ABC West is a subsidiary of ABC USA.
Select three valid statements if the ABC corporation hierarchy is assigned to a Pay
Below Paying relationship.
A. ABC Worldwide can pay for ABC USA, ABC Japan, ABC West, and its own
transactions.
B. ABC Japan can pay tor ABC West, ABC USA, and its own transactions.
C. ABC USA can pay for ABC West and its own transactions.
D. ABC Japan can pay its own transactions.
E. ABC USA can pay for ABC Worldwide, ABC West, and its own transactions.
Answer: A, C, D
Explanation:
Similar example:
Pay Below Paying Relationship
If this Acme Corporation hierarchy is assigned a Pay Below paying relationship,
then:
* (A) Acme Worldwide can pay for Acme USA, Acme Japan, Acme West, and its
own transactions.
* (C) Acme USA can pay for Acme West and its own transactions.
* (D) Acme Japan can pay for its own transactions. Note:
This diagram illustrates the customer hierarchy in Acme Corporation:
Reference:
Oracle Fusion Applications Financials Implementation Guide, Pay Below
Paying Relationship
QUESTION NO:78
Select the true statement about Balance Forward Billing.
A. Balance Forward Bills tan be created for a future date.
B. Transactions included on a Balance Forward Bill can be updated.
C. Balance Forward Bill must be enabled at each bill-to site level.
D. Balance Forward Bill of a previous cycle need NOT be generated as Final to
generate the balance Forward Bill of the current cycle.
Answer: C
Explanation:
Bill Consolidation at Account or Site Level
You can generate bills consolidated at either the customer account or site level:
Account-level balance forward billing lets you generate one bill for each business
unit of the customer account, addressed to the primary bill-to site of the account.
Site-level balance forward billing lets you generate a balance forward bill for each
bill-to site of a customer with multiple bill-to sites.
You can exclude a site from a balance forward bill by disabling balance forward
billing on the customer profile of the site.
Note:
* We must enable balance forward billing for a customer both at the account and
site profile level in order for Receivables to pick any transactions of the customer.
If balance forward billing is enabled at the site profile level but not at the account
profile level, the application does not recognize the site as a balance forward billing
site. Although transactions for the site continue to inherit the balance forward
billing payment term, Receivables never picks them up.
Reference:
Fusion Applications Help, Balance Forward Billing: Explained
QUESTION NO:25
The client has implemented automatic revenue recognition using Revenue Polity
Definitions. The payment term threshold of 150 days has been entered in the
revenue policy. An invoice of $5,000 is imported with payment term that has four
equal installment terms.
. Net 60
. Net 90
. Not 120
. Net 180
Select the amount of revenue that would be deferred in this case.
A. $1, 250
B. $2,500
C. $1.750
D. $5,000
E. $4, 750
Answer: D
Explanation:
Use the Payment Terms Threshold column to enter the maximum time period in
days before payment terms become extended. When you enter or import a
transaction with payment terms or an installment schedule that exceeds the
payment terms policy, Receivables: Assigns the Extended Payment Term
contingency to the transaction. Defers revenue on the entire transaction.
Recognizes revenue on the transaction only to the extent of payments received.
For example, you enter a payment terms threshold of 180 days on your revenue
policy, and you later enter or import an invoice with payment terms that have four
installments:
Net 60
Net 90
Net 120
Net 200
Receivables defers the entire revenue amount on the invoice because the last
installment exceeds the 180-day threshold by 20 days.
Reference:
Oracle Fusion Applications Financials Implementation Guide, Payment Terms
Threshold
QUESTION NO:62
You have entered invoices using the Autoinvoicing Feature. How can you review
the records that are in error?
A. Click the View Autoinvoice Lines link to open a workbook wild the specific
error record.
B. Click the Manage Autoinvoice Lines link to open a workbook with the specific
error record.
C. Click the Number of Errors link in the Autoinvoice error region to open a
workbook with the specific error record.
D. Click the View Error Details link in the Autoinvoice errr region to open a
workbook with the specific: error record.
Answer: B
Explanation:
Each time that you run AutoInvoice, the process generates a list of records that fail
validation. You can display AutoInvoice errors as an Excel workbook in either of
two ways: Click the Manage AutoInvoice Lines link to open a workbook with all
error records. Click a Number of Errors link in the AutoInvoice Errors region to
open a workbook for these specific error records.
Reference:
Fusion Applications help, Correcting AutoInvoice Errors: Explained
QUESTION NO:20
A company has implemented a flat interest calculation late charges. Determine the
late charge based on:
. Amount Overdue = $1,500
. Interest Rate = 20%
. Days Overdue = 10
. Days in period = 30
. Outstanding Charges = $80
A. $300
B. $100
C. $105.33
D. $1,580
Answer: B
Explanation:
Oracle Fusion Receivables uses the active interest tier and charge schedule values
to calculate late charges using the Simple calculation formula.
The Simple calculation formula is the amount overdue multiplied by the rate and
days overdue in the period:
Amount Overdue * (Interest Rate/100) * (Number of Days Late/Number of Days in
Period) Here: 1500* 0.2 * (10/30)=100
Example:
This table provides an example of a charge schedule with four interest tier periods,
each with an assigned interest rate.
Days Overdue Tiers
Interest Rate
1-30 days
2%
31-45 days
3%
46-60 days
4%
Over 60 days
5%
In this example:
An invoice for $1,000 is 45 days overdue. There are 30 days in the billing period.
The late charges are calculated as follows:
$1,000 * (3/100) * (45/30) = $45
After an additional 15 days (60 days overdue), the late charges are calculated as
follows:
$1,000 * (4/100) * (60/30) = $80
Reference: Fusion Applications help,
QUESTION NO:7
Which functionality is NOT provided by the Receivables to Ledger Reconciliation
Report?
A. Limiting the display using the ad hoc parameter
B. Drilldown to see reconciling details
C. Drilldown to see what needs to transfer and post to the general ledger
D. Graphical and visualization components for viewing the reconciliation details
E. The reasons for the reconciling differences
Answer: C
Explanation:
Incorrect answers:
B: Leverage the Payables to Ledger Reconciliation and the Receivables to Ledger
Reconciliation reports using the interactive Oracle Transactional Business
Intelligence (OTBI) reporting technology to:
Expand account balance information from summarized to detail data for optimal
reconciliations
Facilitate manageability and clarity for the reconciliation process
E: If discrepancies exist, the process of matching each transaction to its respective
accounting entry is automatically performed, finding all transactions and
accounting entries that contributed to the out-of-balance situation.
Exceptions are automatically identified. For example: Transactions that do not
have complete accounting Amounts that do not tie to the accounting entry amount
Manually entered journals that posted to the general ledger account
Journals that did not come from the subledger modules
Note: Periodically you need to reconcile the transactions in your accounts
receivable system, both before and after you post to the general ledger. The
Receivables to General Ledger Reconciliation extract and report help to simplify
this process and reduce the amount of manual reconciling activity required.
Reference:
Fusion Applications help, Reconciling Accounts: How It Works with the
Subledgers
QUESTION NO:69
What are the three Multiple Receipt Creation Methods available?
A. Manual receipt creation
B. Standard remittance
C. Lock box
D. Automatic
E. Factor remittance
Answer: B, D, E
Explanation:
Note:
In Receivables, you can apply a receipt to an open debit item before cash is
actually received from the bank. Therefore, receipts with a Standard remittance
method are considered receipts at risk if they have been confirmed, but not yet
cleared. Receipts with a Factored remittance method are at risk if they have not yet
been risk-eliminated.
QUESTION NO:88
Which three duties are associated with the Payment Management Specialist role?
A. Create receivables refund.
B. Create receivables credit card refund.
C. Create receivables credit card charge back.
D. Billing inquiry duty.
E. Receipt creation duty.
Answer: A, C, E
Explanation:
A: Payment Management Duty include privilege Create Receivables Refund. C:
Receivables ChargeBack
An Accounts Receivable Manager can manage receivables transactions for the
business units for which they are authorized
Role: Payment Management Duty
Privilege: Manage Receivables Transactions (Data) Resource: Business Unit
E: Receivables Standard Receipt
An Accounts Receivable Manager can manage receivables receipts for the business
units for which they are authorized
Role: Payment Management Duty
Privilege: Manage Receivables Receipts (Data) Note: Payment Management Duty
Processes customer payment activities, including cash adjustments, deductions,
receipt reversals, receipt write-offs, receipt conversion rate adjustments, receipt
applications, and the creation of miscellaneous receipts.
Reference:
Oracle Fusion Applications Financials Security Reference Manual
QUESTION NO:60
A debit memo reversal must be used to reverse the receipt if the receipt
.
A. is non-invoice related
B. has an open claim associated with it
C. has been reconciled in Cash Management
D. has a remitted credit card refund application
Answer: D
Explanation:
You must create a debit memo reversal under each of these circumstances:
* You are reversing a receipt from which you have created a chargeback, and this
chargeback has had activity against it, such as another receipt, a credit memo, or an
adjustment.
* You are reversing a receipt with a remitted credit card refund application.
* You are reversing a receipt (Receipt A) that was applied to another receipt
(Receipt B), if the reversal would draw the balance of Receipt B negative.
Reference:
Fusion Applications help, Debit Memo Reversals: Points to Consider
QUESTION NO:44
Tables for the Customer Master are owned by .
A. Oracle Fusion Receivables
B. Oracle Fusion Distributed Order Orchestration
C. Oracle Fusion Trading Community Architecture
D. Oracle Fusion Customer Relationship Management
Answer: B
Explanation:
Note: During order processing, the order is created in the order capture system and
sent to Distributed Order Orchestration, along with customer data. If the customer
already exists in the Fusion customer master, then Distributed Order Orchestration
uses a cross-reference to obtain the master customer record and the customer ID for
the intended order fulfillment system. Then the decomposed order is sent, along
with the customer ID and necessary attributes from the master. Note: Oracle
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