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

The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? (Choose three.)

All related interest invoices are reversed if previously created.

Any previous accounting and payment records for an invoice are reversed.

Any realized gain or loss previously calculated is reversed.

All related withholding tax invoices are automatically voided.

Voiding the payment automatically places an invoice on hold.

Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

The payment term of the purchase order overrides the invoice payment term.

The user needs to specify which payment term to use.

The payment term of the invoice overrides the purchase order payment term.

The purchase order payment term cannot be overridden.

The user needs to manually change the payment term on the invoice to match the purchase order payment term.

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 that the one used by your company. How do you handle this situation?

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

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

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

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

Which two statements are true about processing corporate card expenses? (Choose two.)

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.

Card transactions will be paid directly from Expenses Cloud.

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

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

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.

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

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.

Do not assign bank accounts to business units.

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

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

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

Payables Dashboard and Invoices Workarea

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 the custom/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 the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with English locale.

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

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 accounts

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.

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.

Manually enter the 1099s for the State and submit.

Generate a 1096 form and submit it instead.

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

Which job role has full access to perform all Functional Setup Manager related activities?

Application Implementation Consultant

Application System Administrator

Functional Setup Manager Superuser

You have invoices with distributions across primary balancing segments that represent different companies. What feature should you use if you want the system to automatically balance your invoice’s liability amount across the same balancing segments on the invoice distributions?

Subledger Accounting’s Account Rules

Payables’ Allow Reconciliation Accounting

Your company policy requires imaged receipts for expense reports. Which two statements are true about the association of a receipt to an expense report? (Choose two.)

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

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

Employees are not reimbursed for expense report expenditures until missing or overdue imaged receipts are submitted.

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

Which three types of payments can you make if you have access to Disbursement Process Management Duty? (Choose three.)

Reimbursement of employee expense reports

What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2018 if the invoices with a Hold status have an invoice date of January 20, 2018?

The accounting dates of all unaccounted invoices will change to February 28, 2018, the last day of the next period.

The accounting dates of all unaccounted invoices will be changed to February 20,2018, the same day of the next period.

The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2018.

The accounting dates of all unaccounted invoices will be changed to February 1, 2018, the first day of the next period.

You have an invoice for a three-month lease and wish to recognize the expense monthly for the duration of the lease. What must be entered on the invoice in order to do this?

You must provide the accrual account for the prepaid expenses in the invoice lines or distributions.

You must provide a start date and an end date for the prepaid expenses in the invoice lines or distributions.

You must provide a start date, an end date, and the accrual account for the prepaid expenses in the invoice lines or distributions.

You must provide a start date and the accrual account for the prepaid expenses in the invoice lines or distributions.

Which is the Payables tool based on real-time data?

Oracle Transactional Business Intelligence (OTBI)

Oracle Business Intelligence Applications (OBIA)

Oracle Financial Reporting (FR)

Which two statements are true when you are using the Intercompany Reconciliation Reports? (Choose two.)

You must run the prepare Intercompany Reconciliation Reporting Information process.

The reports will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.

The reconciliation period summary report will not show the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction.

The reports will include Ledger balancing lines generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.

You can drill down on the links in the Period Summary report to view the balances by Intercompany Organization.

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 chose the “Apply Credits Up to Zero Amount” option when submitting a Payment Process Request? (Choose two.)

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.

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

Both the invoice and the credit memo are fully paid.

A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated. Which two statements are true? (Choose two.)

The status of each payment in the payment file is Terminated.

The status of each payment in the payment file is Cancelled and the related documents are available for future selection.

The invoices are placed on payment hold.

The status of each payment in the payment file is Terminated.

The status of the payment file is Cancelled.

Which method can you use to route payment approval rules?

Serial and FYI (For Your Information)

Your customer matches their invoices to a purchase order and have noticed that the payment terms are defaulting from the order. For some suppliers, they would like to use the payment terms from the supplier site. How can the customer achieve this?

Manually override the payment terms that have defaulted from the purchase order for those suppliers.

Enter the payment terms in the Manage Payment Options page so they default onto the invoice.

Enter the payment terms at the Supplier level so they default onto the invoice.

Enter the payment terms at the supplier site level so they default onto the invoice.

Enter the payment terms in the Manage Invoice Options page so they default onto the invoice.

Before you can configure payment approval rules, your company must define a payment approval policy. Which three are done by the payment approval policy? (Choose three.)

It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.

It defines a list of approvers who review payments and make final payment decisions.

It allows approvers to review payments and decide whether or not to approve a payment

It determines which payments must go through the payment approval process.

Which statement is true about selecting a bank account on the Create Payment page?

LE on the bank account should be equal to LE on the invoice.

LE on the bank account should be different from the LE on the invoice.

Bank account must match the supplier’s bank account.

Users can pick any bank account as long as the bank account is tried to the business unit.

There is no relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system.

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 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.

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

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

You are voiding a payment and have selected Cancel as the Invoice Action. After performing the void, you notice the invoice is not cancelled but has an Invoice Cancel hold on it. What is reason for this?

The invoice has been partially paid by another payment.

The invoice date is not in the current open period.

The invoice is already on hold.

The invoice accounting date is not in the current open period.

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 Payment Options and Manage common options for Payables and Procurement

Manage Invoice Options and Manage common options for Payables and Procurement

Manage Payable Options and Manage Invoice Options

Manage Invoice Options and Manage Procurement agents

Manage common options for Payables and Procurement and Manage Procurement agents

While entering an expense report for your corporate card transactions, you notice that the conversion rate defined in the Manage Conversion Rates and Policies page is not used. What is the reason?

Only cash transactions use those settings.

You did not define conversion rates for your business unit.

You did not specify a default expense template.

You did not define conversion rates in the General Ledger Cloud.

An installment for $2,000 USD is due for payment on July 31, 2018. The installment has two discounts: the first discount date is June 15, 2018 for $150 USD and the second discount date is June 30, 2018 for $50 USD. You submit a Payment Process Request with the following criteria: Payment Date = June 20, 2018 Pay Through Date = July 30, 2018 Date Basis = Due Date What will be the resulting status of the installment and discount?

The installment is not selected because the due date is after the Pay Through Date.

The installment is not selected because the discount dates are before the Pay Through Date.

The installment is selected and no discount is applied.

The installment is selected and a discount of $50 USD is applied.

The installment is selected and a discount of $150 USD is applied.

An invoice for $200 USD and a credit memo for $225 USD are due for payment and the “Apply credits up to zero amount” option is enabled for the payment process request. Which statement is correct?

The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates a payment for $0 USD.

The payment process request pays only $200 USD alone.

The payment process request creates a refund for $225 USD and leaves the invoice unpaid.

The payment process request doesn’t select the invoice or credit memo for payment because the credit reduces the payment to - $25 USD, which is below zero.

Which three are invoice types that can be entered using the Supplier Portal? (Choose three.)

Purchase order matched invoices

Non purchase order matched invoices

Invoices that are automatically created when the supplier creates an ASN for drop shipments

Invoices that are created from the Evaluated Receipt Settlement (ERS) process

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

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.

Payables Manager can release payment holds in Payables.

The employee’s supervisor can manually release the hold.

You have three procurement business units, four requisition business units and five sold-to business units. For which will the supplier registration flows be deployed?

three procurement business units

four requisition business units

twelve business units per supplier

What is the recommendation when setting up Reconciliation Rule Sets?

One to One rules should be sequenced above rules of other types.

One to One rules should be sequenced below rules of other types.

Many to Many rules should always be used last in the sequence.

Many to Many rules should always be used first in the sequence.

How will system evaluate the tolerances for expense reports?

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

System will use absolute amount tolerance setup to do validations.

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

Standard, Credit Memo and Debit Memo

Standard, Credit Memo and Customer Refund

Standard, Credit Memo, and Invoice Request

Standard, Debit 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

Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?

Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.

Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.

Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.

Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.

Accounts Payable Cloud

Authored by Camila Botbol

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Professional Development

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MULTIPLE SELECT QUESTION

30 sec • 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 real-time transactions and those that are not, are based on historical data.

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.

There is no difference.

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

MULTIPLE SELECT QUESTION

30 sec • 1 pt

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?

InvoiceApproversFYIParticipantInParallelMode

InvoiceApproversSingleParticipantInParallelMode

InvoiceApproversParallelParticipantInParallelMode

Invoice Approvers

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which three are Invoice Header attributes that can be used during invoice approval rule creation? (Choose three.)

Business Unit Name

Pay Group Lookup Code

Requester Name

Accounting Date

MULTIPLE SELECT QUESTION

45 sec • 1 pt

You need 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. (Choose two.)

Configure Subledger Accounting rules to allocate costs.

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

Choose the ‘All Lines’ option from the Allocate menu in the invoice line area.

Define a distribution set and assign it to the supplier.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which three are attributes that are recognized by Invoice Imaging? (Choose three.)

Terms Date

Payment Method

Invoice Date

PO Number

Invoice Number

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What are the two advantages of using a spreadsheet for correcting invoice import errors? (Choose two.)

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

ability to correct errors and re-import invoices directly from 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

MULTIPLE SELECT QUESTION

45 sec • 1 pt

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?

Transfer the data to General Ledger

Validate the invoice in Payables.

Create a payment process request in Payments.

Create Accounting for the invoice in Payables.

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