1Z0-212 - Oracle Payables 11i Fundamentals
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Why would you use the clearing payment method?
To account for intercompany expenses when you do not disburse funds through banks
Company A wants to use Oracle Internet Expenses, and wants to set up expense report templates for that purpose. Which three statements are true about the setup of the expense report templates? (Choose three.)
The expense report must be enabled for Internet Expenses.
Each expense item must have an expense category assigned to it.
The tax code assigned to an expense item must be Web enabled.
In the accrual process for Perpetual Accruals, which two events generate accounting entries that can be transferred to General Ledger? (Choose two.)
processing a receipt
entering invoices and matching them in Payables
Which three types of invoice can be entered ONLY in the Invoice Workbench, and CANNOT be in the Invoice Gateway? (Choose three.)
Prepayment type invoice
enter Debit Memo type invoices
enter PO Default type invoice that would default supplier information from the purchase order
At 's site, under payables options, the transfer to GL option has been set to summarize by accounting period. The period end close processes for accounts parable have run and the payables journals (Purchase invoices and payments) have been created and posted in General Ledger. Which statement is true?
Drilling down from the journals of purchase invoices and payments categories in GL to payables is possible
XYZ Inc. uses Oracle Purchasing and Payables only. the company would like to know the Financial Options that it should set up to provide defaults. Which three options would you recommend? (Choose three.)
Which three statements are true regarding internal bank accounts? (Choose three.)
They are defined to disburse funds to suppliers
They are defined for receiving payment from customers
Internal Bank accounts define accounts for which you are the account holder
wants to provide transparency in its Accounts Payable (AP) operations to its counterparts within the purchasing, Fixed Assets and General Ledger departments. Several complaints have surfaced regarding issues with IP process times and help up payments. The AP department must strictly adhere to accounting regulations about segregating job functions while trying to meet this requirement. Which task should be performed to make this possible?
Give AP inquiry-only access, only though Oracle responsibilities
Your client is concerned about having problems with transaction processing related to the autonumbering of suppliers and invoices, but not payments. The client has a requirement that all three items must be numbered according to a standard format that it will devise. An outside contractor assigned to the project plans to use document sequencing when configuring the system to meet this requirement. What would be the result?
The requirement would not be met because document sequencing is related to the autonumbering of invoices, payments and not suppliers.
Which two statements are true regarding the Payables Options region in the Bank Account Window? (Choose two.)
The maximum Payment field controls the largest payment amount that you allow in a payment batch
If the bank account is a foreign currency or multiple currency account, realized gain and realized loss accounts would be displayed by default in the Payables options window
Which three statements are true regarding the setting up of a bank? (Choose three.)
Each bank can have multiple branches
Each branch can have multiple accounts
Each account can be associated with multiple payables payment documents OR multiple Receivables payment methods but not both
At 's site, under payables options the transfer to GL option has been set to summarize to Accounting period. The period end close processes for Accounts Payable have run and the Payables journals (Purchase Invoices and Payments ) have been created and posted in General Ledger. Which statement is true?
Drilling down from the journals of purchase invoices and payments categories in GL to Payables is possible
Which three statements are true regarding voucher numbers and document sequences? (Choose three.)
Assigning unique voucher numbers to documents is called document sequencing
You can select a sequence of numbers that you would assign to a document category
Document sequencing for all the documents you use in all your Oracle applications comes automatically set up with your installation
What are the three options available for the parameter 'Transfer to GL Interface' when running the request 'Payables Transfer to General Ledger'? (Choose three.)
Summarize by Accounting Date
Summarize by Accounting Period
uses Oracle Purchasing and Payables only. The company would like to know the Financial Options that it should set up it to provide defaults. Which three options would you recommend? (Choose three.)
Values in the Control options tab at the site level of a supplier default from the _____.
In standard Ap, you can enable autonmbering for ___________ through the financial options form.
The bank account in the Payment Batches and Payments window defaults from _____.
Payables Options - Payments region
Which two statements are true about defining payment documents? (Choose two.)
Checks and electronic payments are examples of payment documents.
You must create at least one payment document before you can use a bank account to create invoice payments.
Company A has implemented Oracle Payables and Oracle General Ledger. It has a third-party (non-Oracle) application that it uses to enter employee expense reports. The company wants to interface the expense reports created in the third party application to Oracle Payables as invoices, and pay these invoices out of Oracle Payables. Which Oracle Payables interface can be used to accomplish this?
Payables Open Interface
Your European operations accrue all the expenses items on receipt (perpetual accrual) without any exceptions. Which statement is true about the period close for payables and purchasing?
Payables and purchasing can close independently of each other
In the accrual process for Period End Accruals, which two events generate accounting entries that can be transferred to General Ledger? (Choose two.)
Entering invoices and matching them in payables
Running in Period End Accrual Program
Which three programs submit their own reports, without any user intervention? (Choose three.)
Expense Report Import
Multiple Reporting Currencies (MRC) has been enabled for your client Company A. Which method would you recommended to your client for transferring accounting entries to GL using the payables transfer to GL process?
Transfer to GL with Journal import for the primary set of books and all associated Reporting sets of books together
The transaction Sweep Report generated as part of the payables close process shows some payments. What are the possible reasons? (Choose all that apply.)
One or more of the invoices paid by the payments were not accounts
The cash account code combination of the payments has been disabled
uses Fixed Assets to manage their Asset transactions such as capitalizing, depreciating, adjusting and retiring. After assets are purchased and the invoice is entered and accounted for the company runs the Mass Additions Create process to send assets to Fixed assets. When the purchase order is written, which account should be specified on the purchase order distribution for the charge account?
The asset clearing account associated with an asset category in assets
The bank account in the Payment Batches and Payments window defaults from _____________.
Payables Options - Payments region
ABC Inc. has found that one of its suppliers needs to be enabled as a 1099 vendor, which is a tax-related designation for self-employed contractors. But for this supplier invoices have already been entered and paid. Which two steps should the company take to ensure accurate tax reporting? (Choose two.)
Run the Update Income Tax Details Report.
Update the tax reporting information in the supplier site.
You are working on a multiorganization Accounts Payable implementation with several payable entities. Your client will not set up supplier bank accounts, and will use payment batch, quick payments and manual payments. Which payment methods can your client use? (Choose all that apply.)
You are working on a multiorganization accounts payable implementation with several payable entities. You client will not set up supplier bank accounts and will use payment batch, quick payments and manual payments. Which payment methods can your client use? (Choose that all apply)
Which options can be set at the supplier site level? (Choose all that apply.)
Which two methods would you recommend for preventing the creation of duplicate suppliers? (Choose two.)
Recommend standard naming conventions for suppliers
Query the supplier in the supplier form before creating a new supplier
With which three modules does Oracle Payables have two-way integration? (Choose three.)
Which three types of invoices can be automatically generated (without any manual intervention), if the appropriate setup steps have been performed? (Choose three.)
pay on receipt invoices
withholding tax invoices
Which three reports can be used for identifying duplicate suppliers? (Choose three.)
Supplier Audit Report
Supplier Listing By Supplier Name
Which statement is true about invoices?
An invoice needs to be validated before you can create the invoice accounting entries.
To process a payment you must complete __________.
Only the invoice validation process
What are three prerequisites for interfacing payables invoice lines with Assets? (Choose three.)
The option 'Track as Asset' is selected in the Distributions from when entering an invoice
The invoice has been transferred to General Ledger
Distribution Account is Asset Clearing or CIP Account
You are working on an implementation for Accounts Payable. Many payments for small suppliers will be made outside of the system, but your client does not want to manually record them because that would be too time consuming. What would be the best solution?
Create electronic payment batches using a wire payment method for those multiple suppliers, and then delete the resulting electronic file.
ABC Corporation has closed its APR-XX accounting period. The APR-XX period started on 27-MAR-20XX and ended on 26-APR-20XX. It has run the Posted Invoice Register, the Posted Payments Register, and two Accounts Payable Trial Balance reports (as of 30-MAR-20XX and 30-APR-20XX). Unfortunately, the accounts do not balance. Which two actions should be taken? (Choose two.)
Check the dates on the Accounts Payable Trial Balance reports.
Check to ensure that invoice and payment journals are posted in General Ledger.
Which four interface tables are available in Oracle Payables? (Choose four.)
Payables Pcard Interface
Payables Open Interface
Suppliers Open Interface
Payables PO Matching Interface
Which four lookups can be added with additional values at the time of implementation and also after implementation? (Choose four.)
Free On Board (FOB)
Automatic Withholding Tax (AWT) Rate Type
Automatic Withholding Tax (AWT) Certificate Types
would like to spread the charge across more than 50 accounts for a specific supplier whenever an invoice is entered for the supplier. This list of accounts does not change much over time. Which option requiring minimal ongoing maintenance would you recommend?
Create a distribution set for all the desired accounts and assign it to all new invoices for this supplier site
At the site, Cash Management is installed along with Oracle Payables. The payables option for payment accounting is set to account for a payment both on issue and clearing. The cash clearing accounts and cash accounts are different. What accounting happens when a payment is issued?
Debit AP Liability, Credit Cash Clearing
A prepayment with invoice number as PREPAY/1 exists in Payables for an amount of 1000 USD and has a status of Available. An expense report has been created in the Expense Reports Window and the prepayment of 1000 USD is fully applied against the expense report. The Expense Report Import program has not been run. What is the status of the PREPAY/1 prepayment in Payables?
When setting up financials and Payables options, which two options can only be defined if you have Multi-Org enabled? (Choose two.)
Which two events take place when an invoice is matched to a purchase order (PO)? (Choose two.)
PO quantity billed is updated
PO accounting information is copied over
At which four times can the Create Accounting process be run? (Choose four.)
after the Payment process
before the Payment process
after the Invoice Validation process
before the "Transfer information to GL" process
Where is the Expense AP Accrual Account used in the Period End Accrual process default from?
has implemented Oracle Payables and Oracle General Ledger. It has a third-party (non-oracle) application that it uses to enter employee expense reports. wants to interface the expense reports created in the third party application to Oracle Payables as invoices and pay these invoices out of Oracle payables. Which Oracle interface can be used to accomplish this?
Payables Open interface