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Oracle Fusion Financials - Accounts Receivables Essentials

Terms in this set (183)

You have created an Invoice with an incorrect unit price. You need to perform the Rebill task from the Manage Transactions user interface to enter the correct transaction. Which two actions does the Manage Transactions user interface allow you to perform for the Rebill task?
-Duplicate the original transaction.
-Create a credit memo.
Three values that default from Customer Profile Classes.
-Currency
-Legal Entity
-Payment Terms
The collections Manager runs the Determine Delinquency Using Scoring program to identify delinquent transitions. She wants to know the status of a particular transaction. On which tab she will find the status.
-Transactions tab
Valid statements related to the Shared Service Model
-Shared Service Personnel can view Invoices across various business units.
-Shared Service Personnel can process invoices for various business units.
-Shared Service Personnel can see customer account details across business units
The drilldown option available in the task pane for receipts does NOT include
Correct Funds Transfer Errors
You can click the manager Invoice Lines from the Billing Work Area to find Autoinvoice Exceptions. What parameters are used to summarize the exceptions for review?
Business Unit, Transaction Source, Creation Date, Currency
Which functionality is NOT provided by the Receivables to Ledger Reconciliation Report?
Drilldown to see what needs to transfer and post to the general ledger
A customer calls into the Accounts Receivables Department asking for the balance of all invoices due in the next 30 days and has a question about a specific invoice line. As a Billing Specialist what action will you perform?
Review the invoice in the Review Customer Account Details user interface
The billing Specialist creates an adjustment for an INCORRECT invoice and sends it for approval through the review and Manage Transaction link in the Billing Work Area. Since the adjustment amount is above approval limit, it is routed to the Billing Manager. What is the status of the Adjustment when the approver sees the adjustment in his Work Queue?
Waiting Approval
You are the Billing Manager and you are in charge of reviewing transactions and approving them. Which two tabs are available for your role in the Adjustments Overview Region on the Billing Work Area page?
-Pending My Approval
-Pending Research
You want the flexibility to void a debit memo or credit memo if there is no activity on the transaction.
What setup is needed on the Void transaction type definition to achieve this objective?
Set the Open Receivables option to No and the Post to GL option to No.
What is the action you perform on a transaction once you drill down to the edit transaction window from the Billing Work Area page?
Complete and Review
Which are the two interface tables that transaction data will be imported to when using the AutoInvoice feature?
- RA_INTERFACE_SALES_ALL
- RA_INTERFACE_DISTRIBUTIONS_ALL
ABC, Inc. has business units A and B. ABC, Inc. acquires XYZ Corporation and adds business unit C. The Receivable Manager can see only transactions for business units A and B, but NOT C.
Why is business unit C NOT visible to the Receivables Manager?
System options. Customer Site Profile, Transaction Source, Customer Account Profile
What is the grouping order used to group transaction lines during the Autoinvoice Import process?
System options. Customer Site Profile, Transaction Source, Customer Account Profile
The Billing Specialist receives information that the invoice was billed with the incorrect freight amount.

What action is required?
Perform Credit Memos when the original invoice has billing error (such as incorrect freight amounts, line item pricing, tax amounts, and finance charges) or the entire invoice should be corrected
A grouping rule you created in the system specifies that the Items should match all mandatory and optional attributes. What logic is used to create the invoices from the transaction file through Autoinvoicing?

Item A: USD (Currency), ACME (Bill-to). 5001 (Order Number), Domestic (Order Type), 1 (Transaction Number)

Item B: USD (Currency), ACME (Bill to), 5002(Order Number), Domestic (Order Type), 1 (Transaction Number)

Item C: USD (Currency), ACME (Bill to), 112 (Order Number), No Ship (Order Type), 2 Transaction Number)

Item D: USD (Currency), BONN (Bill to), 501 (Order Number), International (Order Type), 3 (Transaction Number)
Items A and B from Invoice 1, Item C from Invoice 2, Hem D from Invoice 3
Which feature allows Collectors to comment on interactions with customers?
Common Application Components
Collections Dashboard is an Interactive Work Status tool that helps to prioritize and find items that need attention.

Which is a valid Work Status as defined in the Collections Dashboard?
Open
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
$100

FORMULA : Amount Overdue (Interest Rate/100) (Number of Days Late/Number of Days in Period)
APPLIED: Here: 1500 0.2 (10/30)=100
In what scenario would you delete the receipt?
The receipt has been created but NOT yet applied to the transaction.
What are the three steps required to implement the Lockbox feature?
- Set up Receipt Sources.
- Set up Lockbox and Lockbox Transmission Formats.
-Set up credit card refunds
Your company operates in an environment of a highly inflationary economy and fluctuating exchange rates.
Which data conversion level should you use?
Only Subledger Level
In a scenario receipts are factored receipt class that requires confirmation, remittance, and clearance. Select the valid accounting entry that would be generated when receipts are cleared.
The Short term debt account is debited and the Factoring account is credited.
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, Net 120, Net 180

What is the revenue that would be deferred in this case?
$5,000

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.
AutoCash rules apply to ________?
automatic receipts
Identify the different dunning letter versions provided to the customer.
Soft, Regular, Hard
The interactive Receivables to General ledger Reconciliation Report allows reconciliation
only by ledger
You have confirmed an automatic receipt in error. What is the correct method to rectify the error?
Reverse and recreate the receipt.
What are the three validation steps required for implementing dispute processing?
-Transaction types are set up with appropriate Credit Memo types.
-Periods for which the transaction can be disputed are Open.
- BPM work list for approval configuration is validated.
The Accounts Receivables Specialist reviews receipt with a status of Pending from the Review Customer Account Details UI in the Receivables work area. She has to reverse a particular receipt.

What action does she take?
Navigate to the Manage Receipts UI, reverse the receipt, and create a credit memo.
When adding a customer and using profile classes to organize the customer accounts, which three options are true?
- Fusion Receivables assigns the profile class DEFAUIT when creating a customer account.
- Profile class updates and assignments are managed using effective date ranges.
- Receivables allows customized details of the profile class once the profile class has been assign to an account or site.
An interactive report is based on real-time data and is always user interactive. What is true about interactive reports?
The user can enter parameters to limit the information to be included.
Dunning can be configured using ___________.
both by single business unit or multiple business units
What three Work Areas are used to review and manage actionable items before the closing period?
-The Billing Work Area for invoicing and adjustment approval related activities
-The Receivables Balances Work Area for customer payment and credit application processing
-The Revenue Adjustments Work Area for contingencies affecting revenue recognition
The collections Manager wants to see a summary of delinquency data for a specific customer. Which tab will display the summary delinquency data?
Customer Aging tab
The common subledger period close management UI allows the user to__________
Manage the accounting period status
Select three values that the dunning letter generation program includes.
- Invoice
- Unapplied
- Debit memo
Users can choose to EXCLUDE specific transactions in a Balance Forward Bill. Which statement is true about transaction exclusion?
Transaction exclusion for a statement can be done at each transaction level.
You have run the delinquency process for a customer and have navigated to the transactions tab to view the status. Why is the status for the transactions blank?
There was an error when updating the status during the delinquency process. Fix it and rerun the process.
What option is available for the Collection manager for viewing customer data in the Delinquent Customer Region on the collections Work Area pages?
Query by example
What two items are required for customer invoicing?
- Customer
- Remit-to address
What are the three ways a Dispute Request can be submitted?
-By a Collections Agent through the Advanced Collections application in the Customer Work Area -By a Billing Specialist through the Billing Work Area
- By a Receivable Manager through the Reconciliation Work Area
Tables for the Customer Master are owned by ____________
Oracle Fusion Distributed Order Orchestration
The default dunning contact name can be specified in the __________.
Preferences in the Manage Collection Preferences
What are the two parameters on which Collectors can create and save customer lists?
- Work status
- Priority
The Collections Dashboard is comprised of the____________.
Delinquent Customer list, Activities list, Customer Search feature. Process Monitor table
A Collections Agent wants to verify that the delinquency status are accurately assigned and all the dependent processes have occurred. Which three options are true in this scenario?
- Go to the Collector's Work Queue and see whether the delinquent accounts are listed under the Delinquent Accounts nod
- Navigate to the Transactions tab to verify that the open work items are listed.
- If strategies are used, go to the Collector's Work Queue and verify that the strategy work items are listed.
You have completed the period-end activities and have set the receivables period to Close Pending. Now you need to make further adjustments. What is the correct approach?
The receivables accounting period can be re-opened when the period status is Close Pending and the last minute adjustments can be made.
Where is the summary delinquency data displayed on the Collections Dashboard?
Customer Aging tab
What three Items must be set up in the Application Set Up Manager to facilitate refunds?
- Credit card refunds
- Non credit card refunds
- Automatic Receipt Handling
A dunning letter issued at the customer business operational-level includes which transactions?
- Customer
- Account
- bill-to-location level transactions
Functional setup manager allows you to export setups from one instance and import them into other instances
True
The security console allows for
- all user account information to be managed through the security console
-roles are managed directly in the security console
After an implementation project is created in functional setup manager, which activities can you preform for the project?
- assign tasks to users
-store notes associated with a task or task list
which components are included in the user interface?
- global area
- infotiles area
- section
- panel
- panel tabs
What is the difference between job role and duty role?
a job role represents he job you hire a worker to perform, whereas a duty role represents a group of tasks that belong to a job.
Which tasks is included in User Preferences?
- language
- password
- accessibility
- regional ( time zone, date format currency, etc.)
Oracle cloud application contain two predefined reference data set: common & enterprise. you can create more reference data sets based on you business requirements.
True
Types of ledgers that can be defined in oracle financial cloud
- Reporting currency
- Secondary ledger
- Primary ledger
Components of chart of accounts
- Segment labels
- Account combinations
- Value sets
A legal entity is a registered company or an entity recognized by law.
Legal entities record sales and pay taxes on sales. Legal entities own the assets of an enterprise.
Business unit is an organization within an enterprise that preforms one or many business functions. Valid business Unit Functions are:
- Billing and revenue management
- Collections management
- Customer contract management
- Customer payments
- Expense management
- Incentive compensation
- Marketing, Materials management
- Inventory management
- Order fulfillment orchestration
- Payable invoicing
- Payable payments
- Procurement
- Procurement contract management
- Project accounting
- Receiving
- Requisitioning
- Sales
business units have many uses in oracle cloud applications :
- Reference data definitions & sharing
- Management reporting
- Processing transactions,
- Security of transnational data
The autoinvoice process important and validate large number of transactional data into receivable. Which statements are true about autoinvoice process?
- Transactions are stamped with legal entity information
- General ledger accounts are assigned using the auto accounting setup
AutoMatch rule sets provide information used by the auto apply process to apply receipts to transactions. The setting in the automatch rule set provide which recommendations?
- Customer recommendations
- Transaction Recommendations
In receivables the system option page contains multiple options that fall into two main categories: billing and revenue, & cash processing. Some of the options under these categories are :
- Discount basis
- application exception rule set
- allow change to printed transactions
- minimum refund amount
In receivables , receipt classes determine the process steps that are required for receipts. Receipt class setup options are:
- Clearance method
- Creation method
- Remittance method
- Require confirmation
Transaction types can be used to :
- Default legal entities
- Determine weather receivables post transactions to GL
Revenue contingencies allow you to temporarily defer revenue to an unearned revenue account. Oracle predefined multiple revenue contingencies that you can assign to your customer transactions ( -Contingency name : Contingency removal event)
- Cancellation : Contingency expiration date or period
- Customer creditworthiness - Receipt application
- Delivery : proof of delivery
- Doubtful colletability : Receipt application
- Explicit Acceptance : Customer Acceptance
- Extended payment terms : receipt application
- Forfeiture : Contingency expiration date or period
- Installation : Customer acceptance
- Prior Billing Acceptance : Invoicing
- Refund : Contingency expiration date or period
Your organization has a requirement to retrieve the product segment vale based on the customer. Which set up will you use to achieve this?
Mapping set
Oracle Tax provides & delivers :
- A single solution for global tax needs
- Tax service to all oracle cloud application business flow
- A single source of truth for tax configuration and reporting
- A single integration point for third-party content provider
The tax simulator is a tool for simulating the tax determination process using your tax set up. What can be done here?
- Create a sample transaction or copy an existing transaction
- Test new new tax configuration in conjunction with existing configuration and preview the resulting tax calculations.
You generated an accounting entry for one of the invoices in receivables and transferred it to general ledger, after a few days, you notice that the account which was used on the Journal entry was incorrect. Which manual option can be used to correct this entry?
- Sub ledger journal entry
- Account Override
You can define tax regime based on parts of a country or more than one country. Which set up will you use to achieve this?
Tax Zone
Which elements are required for an accounting method?
- Accounting rules
- Journal entry rule sets
- Journal entry rules
The AutoCash Rule Set defines the order in which the system will apply the receipt to an open debit Item. Which Autocash Rule is NOT defined in the receivables setup?
Apply the latest invoice first
Three scenarios that require a debit memo reversal?
- To reverse a receipt that has a chargeback with an adjustment against it
- To reverse a receipt with remitted credit card refund application
- To reverse Receipt A that was applied to Receipt B and reversal would draw balance of Receipt B negative
Which three transaction types are used to generate late charges?
- Invoice interest
- debit memo
- Adjustment against the original transactions
A Receivables Manager wants to override the receipt remittance bank account with the remittance batch bank account. Select three valid setups that will enable an override of the receipt remittance bank account
- Enable the allow override option on the receipt
- Enable the override bank option on the receipt remittance bank
- Disable the ignore override option on the remittance batch
The Billing manager has navigated to the Billing Work Area to complete a transaction. The Incomplete transactions Overview Region on the Billing Work Area page has a drilldown option through which column to complete the transaction?
Transaction number
Your company has three sites defined in the system site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and site 2 at the account level. How will bills be generated?
Sites 1 and 2 activities will be included in a single bill.
There are concurrent programs that run related to data in the Overview Region of the review Customer Accounts Details user interface. Which program is run to synchronize the updated receivables data?
Refresh Receivables transactional Events for Summary Tables Program.
A debit memo reversal must be used to reverse the receipt if the receipt ____________.
has a remitted credit card refund application
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.
- ABC Worldwide can pay for ABC USA, ABC Japan, ABC West, and its own transactions.
- ABC USA can pay for ABC West and its own transactions
- ABC Japan can pay its own transactions
You have entered invoices using the Autoinvoicing Feature. How can you review the records that are in error?
Click the Number of Errors link in the Autoinvoice error region to open a workbook with the specific error record.
What are the three drilldown options available in the task pane for Receipt Remittance?
- Create receipt remittance batch
- Manage fund transfers
- Manage receipt remittance batches
An invoice for $100 has revenue deferred due to unmet payment based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 has been issued against this Invoice. Explain how revenue accounting will occur.
Unearned revenue will be debited for $50.
The Adjust Customer Balances activity allows you to_____________
Write-off uncollectable invoices but does NOT allow you to write-off small balance receipts
An invoice was created with unit price error on one invoice item. What is the next step you perform form the Billing Work Area to correct this error?
Click the Credit Transaction link on the task pane and create a credit memo for the transaction.
Identify two credit memo options
- Tax only
- Paid freight
What is the impact on transactions if you change the billing cycle for a customer of group of customers?
- New transaction after this change inherit the new billing cycle.
What are the three Multiple Receipt Creation Methods available?
- Standard remittance
- Automatic
- Factor remittance
For refund requests, Autoinvoice automatically places the on-account amount of a refund request if ____________ and ____________.
if - installments that existed on the transaction were fully paid
Oracle
and - the receipt does NOT have on account credit memo against it
You are an Accounts Receivables Manager and you have the Receivables Inquiry Duty role attached to your Job Role. What tasks are you allowed to perform under this duty role?
review customer account activities
When a customer opts to make a payment by a credit card, this receipt is identified as a (n) _____________
automatic receipt
Which task does NOT belong to the task list Define Business Units?
Verify Data Role Generation for the Business Unit Business Function
What are the three valid statements related to third-party control accounts that have the type Customer?
- The subledger journal entry lines that use this account MUST have customer information
- When the third party control account is assigned to a journal line, information such as name and site MUST be provided.
- The customer sub ledger third-party balances will be updated when Journal is completed to Final Status.
Which statement is TRUE regarding Time Zone Derivation Rules for Transactions?
Time zone rules apply to invoices, credit memos, on account credit memos, debit memos, chargebacks, and adjustments.
The Receipt Remittances Region on the Receivable Balances Work Area has tabs containing Information on receipts. What are two tabs in the Receipt Remittance Region?
- Pending approval
- Pending clearance
The communication information region in the customer account record is used to maintain what customer information?
- job responsibilities
What is true about Balance Forward Billing.?
Balance Forward Bill must be enabled at each bill-to site level.
What is a valid reason for a Collector being UNABLE to enter a dispute against a particular transaction?
The transaction type is NOT associated to a credit memo type.
What are the steps in running the AutoLockbox Concurrent Process?
- Import bank file
- validate data
- post QuickCash
Your Subledger Accountants are attempting to import their journals to the general ledger at the end of the period. The Journal import processes have completed with a warning and no Journals were generated. Which three steps would you take to troubleshoot this?
- Delete the related data on the GL interface table.
- Verify the output of the Journal Import Request
- Run the Journal Import for all the group IDs.
What are two features of the Create Automatic Receipts Write-Off program?
- Schedule periodic write offs as receipt adjustments for small remaining balances.
- Create write-offs for over payment amount.
The Customer Search feature in the Collections Dashboard allows collectors to find a customer by ____________.
- Customer name
- account
- bill-to
Select the valid setup that creates the revenue account distribution in the case of a debit memo reversal.
Cash account on the receipt
The Accounts Receivables Specialist, while reviewing a customer account, saw a customer complaint about a percentage that was NOT applied to an invoice. The Accounts Receivables Specialist decides to initiate a dispute process for this transaction. What is the action he has to perform to invoke the dispute?
Navigate to the Review Customer Accounts Details user interface and invoke the dispute
The client has implemented revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and acceptance clause (100 days). Explain when revenue will be recognized.
Recognized after 100 days
Which transaction will be included when selecting transactions of specified customers in the Create Balance Forward Billing Program?
Transactions that have the selected payment terms
Which three duties are associated with the Payment Management Specialist role?
- Create receivables refund
- Create receivables credit card charge back.
- Receipt creation duty
Which three steps of the Fund Capture Process are controlled by rules in the Fund Capture Process Profile?
- Formatting messages
- Building Settlements into a settlement batch
- Transmitting messages to the payment system
The Billing Specialist has entered an invoice in a foreign currency. After completing the invoice she realized that she has to adjust the conversion rate on the transaction. The invoice is already paid and has a receipt applied to it. Which is the setup that is NOT relevant to the Billing specialist?
Recreate the transaction at a new rate.
The method used to capture receipts data in mass while offline and upload the receipts at a later data is called ____________ ?
Receipts via spread sheet
A company operates in a country with strict legislative requirements that requires the legal entity to maintain its accounting data separate from other legal entities within the company. How will you assign legal entitles during the accounting configuration?
One legal entity per primary ledger
Oracle has seeded out of the box printing templates defined for each transaction class. How many pre-seeded templates are available?
4
The Billing Manager has to Bill Adjustment Duty role associated with him. Which task he cannot perform?
Review Customer Account Activities
What is true about the aged dunning method?
Aged dunning sends dunning letters based on the age of the oldest transaction.
Which two display columns that impact the Collections Dashboard are defined in the Global Setup Preference Region?
- Display of open transactions
- Default transaction class
Where are the alerts and approvals displayed in the Collection Work Area?
Activities List
Which option must be set up in order to adjust an invoice and enter an amount greater than the balance due?
Set the Allow Overapplication on transaction type to Yes.
When running the delinquency process for a customer, the business unit for which you want to run the process is NOT appearing in the drop down menu. Identify the action you need to take
Only the business units the user has access to will appear in the list of values. Modify the security options to provide access to the user.
Two key system options related to customers.
- Receipt method
- reciprocal customer
After reviewing an incomplete invoice, the Billing Manager clicked the Complete Button In the Transactions Window. What changes will this action create?
- The invoice can now be printed
- the invoice is eligible for transfer to the GL
- Payment schedules get created using he payment terms specified
Which three ways will changing the customer information impart the collection process?
- Making changes In the Profile tab Impacts the collection process.
- Adding or modifying the customer contact name in the Contacts tab impacts where the correspondence is sent.
- Changing the Collector impacts the individual working with the delinquent customer.
An Invoice was billed incorrectly and the Billing Specialist has created an adjustment for the Invoice. The Billing Specialist submitted it for approval but it was rejected by the Billing Manager.

What is true in this scenario?
The adjustment is routed back to the Billing Specialist with the Rejected status
The Accounts Receivable Specialist associated duty include which three duties?
- Receipt Creation Duty
- Payment Settlement Management Duty
- Receivables Accounting Duty
The Collections Manager is identifying delinquent transactions, while submitting the Determine
Delinquency lining Scoring program, in which business unit will the collections Manager be able to view the parameters list?
Only those business units for which the user has access
Which two preference definitions determines the default values during the collection process?
- Default exchange rate
- Default contract for unknown dunning recipients
Select three features that the Shared Service model provides to satisfy business needs.
- Secures user access to business units data
- Different business units can take order; however orders can be managed by a shared service desk having multiple business unit access.
- Ability to view consolidated requisitions across business units
a scenario that is NOT eligible for receipt reversal
Reversing a receipt applied to a transaction with a chargeback that has been posted to UKGeneral Ledger
The 2 rules applicable to issue refunds are___________
- You can NOT refund more than either the original receipt amount or the remaining unapplied amount.
- You can refund receipts that were either remitted or cleared.
An Invoice with an original balance of $100 has a receipt application for $75. The Collector enters a dispute for $50 for this invoice and submits it for approval. Select the valid statement
A Credit Memo for $50 and a Debit Memo for $25 will be generated.
The Billing Specialist created and completed an invoice for $100 for Customer A. She prints the invoice and realizes that the invoice should have been created for Customer B, not Customer A.
The accounting for the transaction for Customer A is posted to the General ledger. How can this be corrected?
Navigate to credit transaction link in the billing work area, credit the entire amount, and enter a new invoice for Customer B.
You have created payment terms and associated them with the reference data set. Business unit X has a set assignment of Enterprise set for payment terms.


Payment Term = Net 30, Reference Data Set = Enterprise Set

Payment Term = Net 45, Reference Data Set = Enterprise Set

Payment Term = 1%/10 Net 30, Reference Data Set = USA Set

Payment Term = Net 45, Reference Data Set = USA Set


If an Invoice is raised under business unit X. Which payment terms are applicable to the transaction?
Net 30 (Enterprise Set), Net 45 (Enterprise Set) C
What information does the Collector see in the Activities List area of the Collections Dashboard?
Tasks assigned to the Collector, such as follow up calls
When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?
Automatically using the Adjustment Reversal and Chargeback Reversal activities
You have created an Autocash Ruleset where the first rule to be applied to receipts is Match Payments with Invoice.


Discount = Earned Only Late charges = NO Receipt = $900 Receipt date = 14-Feb-2010 Discount Grace Days = 5

Which Transaction will be applied to the receipt?
Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2010, Due Date: 28-Feb 2010
Identify two late charge interest calculation methods.
- Average daily balance
- overdue transactions
The Receipts Pending Application region in the Receivables Dashboard provides Information about which two Items?
- Receipt date
- Amount
The Receivables Dashboard provides Information on Incomplete transactions. What are the parameters the dashboard uses to provide this information?
- Period
- Business Unit
- Status
- Batch Type
When a customer receipt does not provide sufficient information to identify the customer or invoice, which is the correct method of entering the receipt?
Enter the receipt as an UNIDENTIFIED receipt.
A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on open Invoices, but some of the amounts have exceeded his approval limits, what will be the result?
The program creates the adjustments with a status of Pending Approval for the amount that exceeds his approval limits.
Which two Collection Preferences can be selected as the default transaction class for the transaction tab?
- Guarantee
- Deposit
Select two values that are set up in Correspondence Configuration.
- Dunning letter options
- Dunning configuration set
Which three actions are facilitated through The Reconciliation Summary Report?
- Drill down from any of the summarized Receivables and Accounting amounts to see the detailed activity.
- Drill down on the difference amounts to see specific reconciling items and the potential cause of the out of balance condition.
- Drill down to see reconciliation details and make reconciling for corrections.
What validation step is required for implementing dispute processing?
BPM Work List for approval configuration is validated.
Your client performs many customer refunds and would like to search for real-time Receivables Refunds Status easily.
What should you do to meet this requirement?
Create a Real Time Report by using Oracle Transactional Business Intelligence (OTBI).
To determine the best approach to converting a client's data, you must know which setup is set-enabled and can be shared. Identify three set-enabled setups in Receivables.
- Standard memo lines
- Revenue types
- Revenue contigenies
Which two are rules applicable to issue of refunds?
- You cannot refund more than either the original receipt amount or the remaining unapplied amount.
- You can refund receipts that were either remitted or cleared.
You are the Billing Manager and you are responsible for reviewing adjustments and approving them. Which two tabs are available in the Adjustments Overview Region on the Billing Work Area page?
- Pending my research
- Pending my approval
You are not able to initiate a bankruptcy request at the customer site level on behalf of a customer. Which two conditions are failing?
- The Collections Administrator creates a bankruptcy request in the Customer Relationship Management (CRM) application and a collector should have the Collection Manager and Customer Profile Administrator roles assigned.

- Preferences must be enabled and Enable Bankruptcy must be set to Yes in Manage Collections Preferences in the Functional Setup Manager for Advanced Collections
Which transactions are included when transactions of specified customers are selected in the Create Balance forward billing programs
- transactions that have selected payment terms
Which two Collection Preferences can be selected as the default transaction class for the Transaction tab
- Debit memo
- Credit memo
A customer calls the Accounts Receivables department and asks for the balance of all invoices that are due in the next 30 days. The customer also has a question about a specific invoice line. As a Billing Specialist, which action would you take?
Search for the information in the Review Customer Account Details user interface.
If AutoAccounting is set to derive accounting segments based on a standard line, the transaction line must be either ______ or ______. Otherwise, AutoAccounting cannot derive a valid account code combination for revenue recognition. Identify the two values.
- A standard memo line
- An inventory item
What do you need to total in order to find the total transaction price for a customer contract that is calculated by Revenue Management?
- the billing amount for all performance obligations in the customer contract
How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?
- A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector
Which two determinant types are used in reference data assignment?
- A business unit
- Project unit
When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition. Which two statements are true when you consider that recognition depends on the nature of the contingency
- Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.

- Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
What are the three setup steps required to implement the Lockbox feature?
- Receipt Classes and Receipt Methods
- Lockbox and lockbox transmission formats
- Receipt sources
In what three ways will changing customer information impact the collection process?
- Adding or modifying customer contact name on the Contacts tab impacts where the correspondence is sent.
- Making changes on the Profile tab impacts the collection process.
- Changing the Collector impacts the individual working with the delinquent customer.
Which role provides access to Receivables - Revenue Adjustments Real Time OTBI Subject area?
Accounts Receivable Specialist
if a receipt cannot be automatically matched or transaction information is not available, Receivable can use the auto cash rule set. Where is the rule set found?
- customer site
- receipt method
- customer account
Your client's legacy system uses a hierarchical parent/child relationship to organize customer information because a single customer may have more than one bank account or payment method. Does this prevent you from using the Oracle Fusion Trading Community Model Data Import program?
Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information
Which method is used to allocate total transaction price across performance obligations in Revenue Management?
Two Step Allocation Method
Your customer has three sites defined in the system, site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and Site 2 at the account level. How will bills be generated?
Sites 1 and 2 activities will be included in a single bill.
what is true about AutoAccounting?
IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.
You created a bills receivable that is factored with recourse and applied a wrong receipt to the short-term debt before the bill maturity date plus the risk elimination days. Which actions are true?
- If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.

- If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Pending Remittance.
The Billing Manager has navigated to the Billing work area to complete a transaction. The Incomplete Transactions Overview Region on the Billing Work Area page has a drilldown option through a column to complete the transaction. Identify the column.
Transaction Number
You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%. The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax. How would you achieve this?
Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.
What is the order used to group transaction lines during the AutoInvoice Import process?
> Transaction Source > Customer Site Profile >Customer Account Profile> system options
A Billing Specialist has created and completed an invoice for $100 USD for Customer A. The Specialist prints the invoice and realizes that the invoice should have been created for Customer B. The accounting for the transaction for Customer A is posted to the General Ledger. How can this be corrected
Create a non-account credit memo for $100 USD for the invoice and enter a new invoice for Customer B
A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation. How would you configure the Performance Obligation Identification Rule to ensure correct grouping of these items?
by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute
In the customer hierarchy of Customer Corporation, Customer Worldwide is the parent company of Customer USA and Customer Japan. Customer West is a subsidiary of Customer USA. Which three statements are true if the Customer Corporation hierarchy is assigned to a Pay Below Paying relationship
- Customer Japan can pay its own transactions.
- Customer USA can pay for Customer West and its own transactions.
- Customer Japan can pay for Customer West, Customer USA, and its own transactions.
If the Contract Identification Rules that you defined for your customer did not group the source data into customer contracts as expected, how would you resolve the issue?
Run the Discard Customer Contracts program for the relevant contracts, define a new, higher-priority Contract Identification Rule, and run the Identify Customer Contracts program again.
Which two statements are true when you are using the Intercompany Reconciliation Process?
- The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
- The ledger balancing lines are 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.
What are three functions of the Create Automatic Receipt Write-offsprogram?
- creating write-offs for specific currencies and customers
- limiting write-offs by a percentage of the original receipt amount
- scheduling periodic write-offs as receipt adjustments for small remaining balances
You have created two transactions with a 30-day payment term. The first transaction is on January 29, 2015 and the second transaction is on January 31, 2015. The invoice date is the same as the system date. Both transactions are assigned an unsigned receipt method that has the lead days set to 60,number of bills receivable rule set to one per customer, and the bills receivable maturity date rule set to latest. Which statement is true when the create bills receivable batch is processed for a customer on January 31, 2015?
Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.
When discussing the Receivables to Ledger Reconciliation Report with your customer, you are asked a number of questions about how to run the report. Which statement is true?
You can include or exclude intercompany transactions, or you can reconcile by intercompany activity only.
Which two items are required for customer invoicing?
- Remit-to-address
- Customer profile class
Which two duties are included in the Accounts Receivable Specialist associated role?
- receipt creating duty
- payment settlement managment
Sets with similar terms