In what order should the import process be run when importing suppliers?

Supplier, Supplier Site, Supplier Site Contacts, Supplier Site Assignments

Supplier, Supplier Site Contacts, Supplier Site, Supplier Site Assignment

Supplier, Supplier Site Assignment, Supplier Site, Supplier Contacts

You entered an invoice of 12,000 and paid it for Office Supplies. The payment was never received by the supplier, and you decide to return the entire order. What should you do?

Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.

Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.

Issue a credit memo, which will debit the liability and credit the expense.

Cancel the invoice, which debits the liability and credits the expense.

What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2016 if the invoices with a Hold status have an invoice date of January 20,2016?

Theaccounting dates of all unaccounted invoices will be changed to February 1,2016, the first day of the next period.

Theaccounting dates of all unaccounted invoices will change to February 28, 2016, the last day of the next period.

Theaccounting dates of all unaccounted invoices will remain unchanged at January 20,2016.

Theaccounting dates of all unaccounted invoices will be changed to February 20,2016, the same day of the next period

The Accounts Payable Manager voided a Payment Request issued for a foreign currency invoice due to insufficient funds. Which three statements are correct?

Any previous a ccounting and payment records for the invoices that were paid automatically are reversed.

All related interest invoices are reversed if already created.

Any realized gain or loss on foreign currency invoices is recorded as paid by the payment when reversed.

The process places the invoice on hold automatically.

All related withholding tax invoices are automatically reversed.

An invoice for $1,000 USD and a credit memo for ($1,100) USD are due for payment. What are the two outcomes if you choose the "Apply Credits Up to Zero Amount" option when submitting a Payment Process Request?

Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.

Both the invoice and the credit memo are included in the Payment Process Request.

Both the invoice and the credit memo are fully paid.

Neither the invoice nor the credit memo is included in the Payment Process Request.

Your company policy requires that receipts be attached to expense report items before reimbursement can be made. Which two statements are true about the association of a receipt to an expense report?

An expense report may require original, imaged, or both types or receipts.

Expenses do not create payment requests for expense reports that have missing or overdue receipts.

Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.

Receipts are not required if the expense item falls within Per Diem Rates.

An installment for $1,000 USD is due for payment on January 10, 2016. The installment has two discounts: the first discount date is December 5, 2015 for $150 USD and the second discount date is December 20, 2015 for $50 USD. The Pay Date Basis on the supplier site is Discount. You submit a Payment Process Request with the following criteria; - Payment Date = December 5, 2015 - Pay Through Date = December 25, 2015 - Date Basis = Pay Date - Always Take Discount option is enabled What will be the resulting status of the installment and discount?

The installment is selected and a discount of $150 USD is applied because the Always Take Discount option was enabled.

The installment is not selected because the first discount date is before the Pay Through Date.

The installment is selected but no discount is applied because the payment date is after the discount dates.

The installment is selected and a discount of $50 USD (the second discount) is applied.

The installment is selected and a discount of $200 USD ($150 + $50) is applied.

You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?

Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.

Terminate the payment process request.

Run the create accounting program.

Run the invoice validation program.

Remove the documents or payments causing the error and resume the payment process.

A company has a requirement to default the disbursement bank account when submitting a Payment Process Request. Which two actions will accomplish this?

Create a Payment Process Request template that includes the Disbursement Bank Account.

Define the Disbursement Bank Account to the Payment Method in payment default rules.

Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.

Assign the Disbursement Bank Account to users to have the payment process default the bank account.

Define the Disbursement Bank Account to every supplier.

You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?

Validate the invoice in Payables.

Transfer the data to General Ledger.

Create a payment process request in Payments.

Create Accounting for the invoice in Payables.

A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?

Manage Payable Options and Manage common options for Payables and Procurement

Manage Payable Options and Manage Invoice Options

Manage common options for Payables and Procurement and Manage Procurement agents

Manage Invoice Options and Manage Procurement agents

Manage Invoice Options and Manage common options for Payables and Procurement

You have 10 ledgers and 30 business units and want to leverage Reference Data Sets. What is the function of Reference Data Sets?

allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup

allow you to assign multiple business units to users in a shared service center

allow you to maintain sets of related data in a Data Dictionary

allow you to secure data by business unit

What is the result of voiding a payment?

The payment is no longer valid for payment.

A stop payment request has been initiated to the bank.

A bills payable payment was created but is not yet matured.

The payment is reconciled to the bank statement.

Which dashboard or workarea displays the Scanned Invoices region for invoices processed through the Payables Integrated Imaging solution?

Payables Dashboard and Invoices Workarea

Select three statements about the submission of invoices by suppliers using Supplier Portal.

A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed

A supplier can submit a single invoice against multiple purchase orders, provided the currency and organization for all the invoice items are the same as those on the purchase orders.

A supplier can not make changes to the invoice after submitting it.

A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations.

A supplier can validate the invoice after submitting it.

The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action.

The employee must reply to the notification before the reimbursement process can continue.

The expense report status remains Pending Payables Approval.

The expense report is routed back to the approvers.

The employee must resubmit the expense report.

Identify two ways the invoice imaging solution works in the Cloud.

Customers scan the invoice on-premise and email the images.

Customers ask their suppliers to scan and email the invoice

Customers scan and store the invoice images on-premise and attach them during invoice entry.

Customers ask suppliers to send electronic invoices.

Customers cannot use invoice imaging in the Cloud

What are the two advantages of using a spreadsheet for correcting invoice import errors?

ability to correct errors and re-import invoices directly from a spreadsheet

identification of errors with clear error messages at the invoice header and line levels

ability to enter a high volume of invoices via a spreadsheet

identification of errors with clear error messages at the invoice header level only

ability to correct errors within the spreadsheet and send invoice corrections for approval

Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation.

Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access

Business units must be granted access to the bank account.

Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-to-bank reconciliation

Allow bank accounts to be accessed by all roles and users because the default valued to secure a bank account by users and roles is No.

Do not assign bank accounts to business units.

You need to submit a 1099 report; your State format has changed slightly since last year. How should you submit your 1099s for the State in the current year?

Edit the 1099 template to reflect the changes, and then run and submit the 1099 report.

Run and submit your 1099s because it will automatically reflect any changes

Manually enter the 1099s for the State and submit.

Generate a 1096 form and submit it instead.

You have two business units, Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?

Assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles to each Expense Auditor.

Assign the Expense Auditor job roles to each auditor.

Assign the Expense Auditor as the owner of each business unit.

Use segment value security rules to secure access to business units.

Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run?

Run the process Transfer Intercompany transactions to Receivables and Transfer Intercompany transaction to Payables.

Manual Approvals should be allowed for the transaction type.

For the Legal Jurisdiction, Legal function “Generate intercompany invoice” should be assigned.

Supplier site primary pay flag and customer account bill to primary flag should be enabled.

Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables

Which two setups are required to ensure the same tax is applied on both intercompany payable and receivable invoice?

First enter Payable transaction to calculate tax and then for Receivable Transaction.

Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.

Tax for inter-company is to be loaded using Create Taxable Transactions in Spreadsheet.

Payable options are receivable system options should have same tax application options.

You should check if any specific rules defined should cover both Sales_transactionand

Which two statements are true about processing corporate card expenses?

Conversion rate defaults apply only to cash expenses, not to corporate card expenses.

Usage policy for expense category tolerances does not apply to credit card expenses.

Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.

You can process payment for credit card using Electronic funds transfer, check, or wire.

Card transactions will be paid directly from Expenses Cloud.

You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements.

For period end accruals, the invoice accounting debits the expense account and credits the liability account.

For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.

For period end accruals, accounting is created at material receipt or at delivery to a final destination.

For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts.

When submitting the Payables to General Ledger Reconciliation report, the extract did not select any data. What should you check?

Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values.

Make sure you assign an Account parameter when running the extract to include liability account.

Make sure you specified a Business Unit in the parameters when running the extract.

Make sure you enabled the Reconciliation flag to all of your liability natural account values.

Identify three scenarios where you are not allowed to cancel an invoice.

Prepayments were applied to the invoice.

The invoice was adjusted by a credit or a debit memo.

The invoice is fully or partially paid.

An accounting entry has been created for the invoice.

The payment build program has completed but with errors. When submitting the payment process request, which processing option is used to review the error messages from the Manage Payment Process Request Inquiry?

Set the validation failure handling for payments to “stop process for review”.

Set the validation failure handling for documents to “show errors”.

Set the validation failure handling for payments to “show errors”.

Enable debug for the payment format program.

You have a high volume of invoices to enter that have similar lines and do not require extensive validation. What must you do if you want to group multiple invoices in a batch during spreadsheet entry?

Enable the invoice option Require Invoice Grouping, and the system automatically groups invoices entered in the same spreadsheet.

Make sure the Invoice Number is the same.

Make sure all the invoice dates are the same.

Enter a value in the Invoice Group field to group similar invoices into a batch.

Assign the same Invoice Header Identifier to multiple invoices you want to group.

Which two statements are true about the Invoice Validation process?

creates tax lines and distributions

creates accounting entries in draft

creates withholding tax invoices, if withholding tax is enabled to create withholding tax at payment, so that you can make payment on this invoice

Which invoice types can be included in the Create Payment flow?

Standard, Credit Memo and Debit Memo

Standard, Debit Memo and Customer Refund

Standard, Credit Memo, and Invoice Request

Standard, Credit Memo and Customer Refund

Which attributes on the payables invoice can be used during approval rule creation?

company segment, cost center segment, supplier, and Attribute 1 on the invoice line

company and cost center segment only

cost center segment and supplier only

If you accidentally paid an invoice using Create Payment flow, can you undo the operation?

yes, by voiding the payment created

yes, by canceling the payment process from the process monitor

Cancel the invoice and create a new one.

yes, by creating a credit memo to offset the payment

What are the output formats supported for Electronic and Check format programs?

Electronic output format of XML, Check output format of rtf

Electronic output format of PDF, Check output format of PDF

Electronic output format of DATA (csv), Check output format of Zipped PDFs

Electronic output format of Text, Check output format of Text

Electronic output format of etext, Check output format of rtf

You want to have an invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage. Select two methods to achieve this.

Customize the Subledger Accounting rules to allocate costs.

Define a distribution set and assign it manually to the invoice.

Define a distribution set and assign it to the supplier.

Enter the invoice in Payables and then use general ledger’s Calculation Manager to allocate the costs.

You have modified your tax setup and want to test the changes on actual Payables transaction. How do you validate before enabling for transaction?

Oracle Transactional Business Intelligence (OTBI)

by creating accounting in draft mode

by creating a payable invoice, and by validating and reviewing the tax application

by changing the tax status to test and then entering a payables invoice

While processing an expense report, the system placed a payment hold on the expense report. What are two ways to release payment holds?

The expense auditor can manually release the payment hold at his discretion.

Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.

The employee can manually release the hold.

The employee’s supervisor can manually release the hold.

Payables Manager can release payment holds in Payables.

How will system evaluate the tolerances for expense reports?

System will calculate error tolerance as Policy Rate * (1 + Warning Tolerance + Error Tolerance/100).

System will calculate warning tolerance as Policy Rate * (1+ Warning Tolerance/100).

System will calculate error tolerance as (|Policy Rate * (1+Error Tolerance/100|) currency precision.

System will calculate warning tolerance as Policy Rate * (1 + Warning Tolerance/100)* currency precision.

System will use absolute amount tolerance setup to do validations.

You are using the Payables Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to mar 31st. Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?

On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and then On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Feb 28st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000

On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000

On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Feb 28st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000

On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000

Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?

Payables to Ledger Reconciliation report and Receivables to Ledger Reconciliation report

General Ledger Financial Statements and the Accounts Payable and Invoice Registers

Payables Aging reports with the General Ledger Trial Balance report

Payables Trial Balance and General Ledger Trial Balance reports

You want to route invoices to three different approvers at the same time and only one approver needs to approve the invoice. Which approval ruleset should you use?

InvoiceApproversSingleParticipantInParallelMode

InvoiceApproversParallelParticipantInParallelMode

InvoiceApproversFYIParticipantInParallelMode

Prueba Marco

Authored by Marco Antonio Garcia

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MULTIPLE CHOICE QUESTION

15 mins • 1 pt

You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?

Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger’s Manage Journals page and post the associated invoice journal entry.

Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.

Enter and post a manual journal entry directly into the general ledger.

Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?

Both the invoice and the credit memo are selected and the Payment Process Request requires attention

Both the invoice and the credit memo are paid and a refund of $25 USD is created

Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.

Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD.

MULTIPLE SELECT QUESTION

15 mins • 1 pt

Your company wants to generate intercompany transactions in USD but only if the amount involved is $3,000 USD or more. Which two intercompany system options are valid?

Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider.

Set the intercompany system option minimum transaction amount of $3,000 USD.

Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options.

You cannot update the minimum transaction currency when intercompany currency is entered.

Set the intercompany system option minimum transaction amount to $2,999.99 USD.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

During your business trip to the UK, you took a taxi ride and paid for it by using your personal visa credit card. While entering your expenses, you get a warning that a different conversion rate was applied to the taxi expense by visa than the one used by your company. How do you handle this situation?

Do not enter the taxi expense and call your Finance Department so that they can make changes in the conversation rate settings and you do not violate the allowable limit.

Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.

Use the corporate-defines conversion rate even if it means you will not be reimbursed fully.

Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement.

Reveal Solution Discussion

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Your customer has implemented English as base language and French as a local language. The customer’s bank needs the payment file to be sent to them in French. What is the relevant step to do this for preparing the payment template?

Create your template in English language. then upload it to Business Intelligence (BI) under thecustom/payment folder, under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.

Create your template in the local language. then upload it to Business Intelligence (BI) under thecustom/payment folder, under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.

Create your template in English language. then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with country locale.

Create your template in local language. then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with country locale.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What is the difference between subject areas that append the word "Real Time" and those that do not?

The "Real Time” subject areas are based on subledger transactions and the ones that are not are based on general ledger balances

The "Real Time” subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse.

The "Real Time” subject areas are based on real-time transactions and those that are not, are based on historical data.

There is no difference.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

You have created an approval rule as follows:Rule 1: If the invoice amount > $1000, route it to User 1.Rule 2: If the invoice amount < $1000, auto approve it.
Now, the user creates an invoice for $1000 and routes it for approval. What will happen?

The system will issue an error message after the approval has been initiated.

Invoice will not be processed.

Invoice will be sent to User 1 for approval.

Invoice will be auto-approved.

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Prueba Marco

You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?

You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?

Your company wants to generate intercompany transactions in USD but only if the amount involved is $3,000 USD or more. Which two intercompany system options are valid?

Your customer has implemented English as base language and French as a local language. The customer’s bank needs the payment file to be sent to them in French. What is the relevant step to do this for preparing the payment template?

What is the difference between subject areas that append the word "Real Time" and those that do not?

You have created an approval rule as follows:Rule 1: If the invoice amount > $1000, route it to User 1.Rule 2: If the invoice amount < $1000, auto approve it.Now, the user creates an invoice for $1000 and routes it for approval. What will happen?

In what order should the import process be run when importing suppliers?

You entered an invoice of 12,000 and paid it for Office Supplies. The payment was never received by the supplier, and you decide to return the entire order. What should you do?

What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2016 if the invoices with a Hold status have an invoice date of January 20,2016?

Access all questions and much more by creating a free account

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You have created an approval rule as follows:Rule 1: If the invoice amount > $1000, route it to User 1.Rule 2: If the invoice amount < $1000, auto approve it.
Now, the user creates an invoice for $1000 and routes it for approval. What will happen?