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NEW QUESTION # 64
Manage Transaction Types
Scenario
A US based company acquired on January 1. 2023. requires Supremo US Business Unit to capture invoices in Oracle Financials Cloud.
Task:
Define a new Transaction Type for the class invoice, where:
Name of the transaction type is XXinvoice (Replace XX with 03.
which is your allocated User ID.)
Customer bills assigned to this transaction type must be printed
Transaction type is meant for billing transactions With open balances
Balances need to be maintained for invoices associated with this
transaction type
Freight charges must be allowed
Cash applications to invoices assigned to this transaction type must not exceed the invoice balance due Invoices associated with this transaction type must be accounted for in the General Ledger application.
Revenue GL account 41000 should be assigned as a reference account for the business unit in question and the company segment must be 120 Supremo Fitness
Answer:
Explanation:
See the explanation below for solution
Explanation:
Log in to Oracle Financials Cloud.
Click on the Transaction Types icon in the Receivables work area.
Click on the Create button.
In the Transaction Typewindow, enter the following information:
Name:XXinvoice
Class:Invoice
Transaction Action:Create
Transaction Source Type:Customer
Print Customer Bills:Yes
Allow Freight Charges:Yes
Allow Cash Applications:Yes
Accounting:
Reference Account:41000
Company Segment:120 Supremo Fitness
Click on the Save button.
The new transaction type will be created and the customer bills associated with this transaction type will be printed. The balances will also be maintained for invoices associated with this transaction type. Freight charges will be allowed and cash applications to invoices assigned to this transaction type must not exceed the invoice balance due. The invoices associated with this transaction type will be accounted for in the General Ledger application. The revenue GL account 41000 will be assigned as a reference account for the business unit in question and the company segment must be 120 Supremo Fitness.
Steps to confirm the Oracle Applications Cloud version:
Click on the Settings and Actions menu under your profile in the Oracle Applications Cloud window.
Click on About This Application in the Settings and Actions menu.
Copy the complete version number from the About this Application pop-up in the Oracle Application Cloud window.
Paste the version number in the box below.
Click Confirm.
NEW QUESTION # 65
You are reviewing an invoice on the Review Transaction page. After clicking the Sales Credit subtab. you notice the following breakdown: Revenue Allocation and Nonrevenue Allocation.
What is Nonrevenue Allocation?
- A. Sales credit allocation based on billing corrections
- B. Sales credits associated to deferred revenue
- C. Sales credit reversals due to credit memo creation
- D. Additional incentive-based sales credits
Answer: B
Explanation:
Nonrevenue Allocation is the amount of sales credits that are associated to deferred revenue. It represents the portion of sales credits that are not yet recognized as revenue and are allocated to future periods. Verified [How You Manage Sales Credits - Oracle]
NEW QUESTION # 66
Identify the dunning letter template set provided by an application.
- A. Regular, Final Demand, Medium
- B. Soft, Regular, Hard
- C. Final Demand, Soft, Medium
- D. Regular, Medium, Hard
Answer: C
NEW QUESTION # 67
Identify two late charge interest calculation methods. (Choose two.)
- A. Overdue Transactions only
- B. Average Daily Balance
- C. Adjusted Balance
- D. Previous Balance
Answer: A,B
NEW QUESTION # 68
After a customer bankruptcy is approved, what happens in the Collections application?
- A. The Bankrupt Customer Collection job is automatically submitted to close all open transactions for the customer.
- B. Collection activities are suspended and delinquent transactions appear in the Collections Work Area.
- C. Collection activities remain active, delinquent transactions appear in the Collections Work Area but customer status is changed to Bankrupt.
- D. Collection activities are suspended, delinquent transactions no longer appear on the Collections Work Area and customer status is changed to Bankrupt.
Answer: D
NEW QUESTION # 69
What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)
- A. Manage Receipt Remittance Batches
- B. Create Receipt Remittance Batch
- C. Lockbox Transmission History
- D. Correct Funds Transfer Errors
- E. Create Automatic Receipts
Answer: A,B,E
NEW QUESTION # 70
What are the three seeded contract configuration rules that Revenue Management provides to automatically create contracts? (Choose three.)
- A. by Quote Number and time frame
- B. by Source Document Line andtime frame
- C. by Item and time frame
- D. by Customer and time frame
- E. by Source Document and time frame
Answer: B,C,E
NEW QUESTION # 71
Identify two credit memo options. (Choose two.)
- A. Paid freight
- B. Advance
- C. Tax only
- D. Invoice lines
- E. Paid amount only
Answer: C,D
NEW QUESTION # 72
Which four output file types are available when you run the "Print Receivables Transactions" program?
- A. Word
- B. PDF
- C. Excel
- D. Zipped PDFs
- E. JPG
- F. HTML
Answer: B,C,D,F
NEW QUESTION # 73
Which role provides access to Receivables - Revenue Adjustments Real Time OTBI Subject area?
- A. Accounts Receivable Specialist
- B. Revenue Manager
- C. Accounts Receivable Manager
- D. Billing Specialist
Answer: A
NEW QUESTION # 74
Your company wants to generate Intercompany transactions only if the amount Involved is equal to or greater than $3,000 USD.
How should you configure Intercompany System Option*; to meet this requirement?
- A. Set "Minimum Transaction Amount" to 3,000 and "Minimum entered Currency" to USD.
- B. Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the minimum amount requirement.
- C. Set "Minimum Invoice Amount" to 3,000 and "Invoice Currency" to USD in Payables Invoice Options and Receivables System Options.
- D. Set "Minimum Transaction Amount" to 2,999.99 and "Minimum Entered Currency" to ALL
Answer: C
NEW QUESTION # 75
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?
- A. by defining a grouping rule on the customer class
- B. by defining an exclusion rule to exclude customer classes that are "Retail"
- C. by defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute
- D. 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
- E. by defining an item group and assigning that to the rule
Answer: D
NEW QUESTION # 76
Manage Balance Forward Billing Cycles and Payment Terms
Scenario
You are a consultant for a client who is implementing the Balance Forward Billing feature in Oracle Financials Cloud. You have been asked to define Balance Forward Billing Cycle as well as Balance Forward Billing Payment Terms so that your client can generate consolidated bills.
Task:
Create Balance Forward Billing Cycle, where:
Name of the cycle is XXCycle (Replace XX with 03. which is your allocated user ID.) Bills are generated every day Cycle is effective as Of January 1,2023
Answer:
Explanation:
See the explanation below for solution
Explanation:
Log in to Oracle Financials Cloud.
Click on the Balance Forward Billing icon in the Receivables work area.
Click on the Cycles tab.
Click on the Create button.
In the Balance Forward Billing Cycle window, enter the following information:
Name:XXCycle (Replace XX with your allocated user ID.)
Billing Frequency:Daily
Effective Date:January 1, 2023
Click on the Save button.
The new balance forward billing cycle will be created.
To create a Balance Forward Billing Payment Term:
Click on the Payment Terms tab.
Click on the Create button.
In the Balance Forward Billing Payment Term window, enter the following information:
Name:XXPaymentTerm (Replace XX with your allocated user ID.)
Billing Cycle:XXCycle (The cycle that you created in the previous step.) Due Date:Next Business Day Overdue Days:30 Click on the Save button.
The new balance forward billing payment term will be created.
NEW QUESTION # 77
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 the Billing Specialist's approval limits.
What would be the result?
- A. The program creates the adjustments only for the amounts within the Billing Specialist's approval limits.
- B. The program creates the adjustments with a status of Pending Approval for the amount that exceeds the Billing Specialist's approval limits.
- C. The program creates the adjustments with a status of Rejected for the amount that exceeds the Billing Specialist's approval limits.
- D. The program can be run only if the amount is within the Billing Specialist's approval limits.
Answer: B
NEW QUESTION # 78
When defining the receipt method for automatic receipt processing, the business requirement is to produce the minimum number of payments.
Which receipt rule should you define?
- A. One per Invoice
- B. One per Customer, per due date
- C. One per Site. per due date
- D. One per Customer
Answer: D
Explanation:
This is the receipt rule that should be defined to produce the minimum number of payments when defining the receipt method for automatic receipt processing. This rule creates one payment per customer regardless of how many invoices or due dates exist for that customer. Verified [How You Define Receipt Methods - Oracle]
NEW QUESTION # 79
Which method is used to allocate total transaction price across performance obligations in Revenue Management?
- A. Inverted Allocation Method
- B. Two Step Allocation Method
- C. Residual Allocation Method
- D. Relative Allocation Method
- E. Alternative Allocation Method
Answer: B
NEW QUESTION # 80
Which three receipts can be automatically applied by the "Apply Receipts Using AutoMatch" process?
- A. Receipts created from a lockbox and uploaded.
- B. Receipts that are manually created.
- C. Receipts created in a spreadsheet and uploaded.
- D. Receipts with unapplied amounts.
- E. Miscellaneous receipts.
Answer: A,B,C
NEW QUESTION # 81
As a Billing Manager you are responsible for reviewing adjustments and approving them. Which action is not available in the "Approve Adjustments" page?
- A. Edit
- B. Reject
- C. Reassign
- D. Request Information
- E. Approve
Answer: C
NEW QUESTION # 82
While reviewing Balance Forward Bill Infertile on the Account Overview page m Bill Management, you notice that it is only displaying balance forward Mis raised in the last month.
How can you increase the number of months to view past balance forward bills?
- A. Use Bill Management System Options
- B. Add the number of months as a value for the BILL.MANAGEMENT lookup code
- C. Use Receivables System Options
- D. Use the threshold view of Balance Forward Bill Infotile
Answer: A
Explanation:
You can use Bill Management System Options to increase the number of months to view past balance forward bills on the Account Overview page in Bill Management. You can set the value for the Number of Months for Balance Forward Bill Infotile Profile Option. Verified [How You Manage Balance Forward Billing - Oracle]
NEW QUESTION # 83
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?
- A. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.
- B. Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.
- C. Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31, 2015.
- D. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 30, 2015.
- E. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 2015.
- F. Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively.
Answer: B
NEW QUESTION # 84
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