1Z0-507 - Oracle Fusion Financials 11g Accounts Payable Essentials
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Which expense approval rule would route the approval to the next level if the approval amount reaches the threshold?
approvals based on the position hierarchy
Identify two stages in the Payment Process Request that require manual actions to complete.
Failed document validation
Pending Proposed Payment review
The Payment Process Request section of the Accounts Payables dashboard has a tab called Recently Completed. This tab displays all the payment process requests completed in the last_________.
Which section of the Accounts Payable dashboard displays information about supplier sites on payments hold?
Supplier Sites on Payment Hold
Which two receipts modifications are displayed in the Payables Matched and Modified Receipts Report?
Quantity received was incorrectly recorded
Product Returned to Supplier
Which two Payment Controls can be overridden by creating a manual Single Payment Request?
Multiple Pay Alone Invoices
All payment methods
Which two organizational components are part of the OTBI report for outstanding payables Invoices?
Which three tabs are available on a Single Payment Request?
A company wants to default the business unit for a user In Oracle Fusion Payables. Identify the setup that meets this requirement.
Setup and Maintenance
Identify three statements that are true for a supplier's bank details.
Bank accounts can be added at any time for a supplier or supplier site.
Accounts Payables use bank account information to generate an electronic payment for a supplier.
Updating bank accounts for a supplier will NOT affect bank accounts for existing supplier sites.
Which three fields are required to create an invoice without a purchase order through the Supplier Portal?
Remit to name
What is the invoice type of an unmatched Invoice created in the Supplier Portal?
Standard invoice request
Which two statements are true about the Invoice Requiring Attention section of the invoice Dashboard?
displays Invoices in the system that are waiting for approval*
displays invoices rejected in the approval process along with the reason for rejection
An installment for $2,000 is due for payment on July 31, 2012. The Installment has two discounts: the first discount date is June 15, 2012, for $150 and the second discount date is June 30, 2012 for $100. You submit a payment process request: What will be the resulting status of the installment and discount?
The installment is NOT selected because the due date is later than the Pay Through Date.
Which section of the Payment Dashboard lists all the processes submitted within the last 72 hours?
Identify three scenarios where you are NOT allowed to cancel an invoice.
The invoice is fully or partially paid.
The invoice was adjusted by a credit or debit memo.
Prepayments were applied to the invoice.
During its first month end close, a company has an Invoice with a Hold status dated 15-Jan-2012. Its accounting practice permits the transfer of unaccounted transactions from one period to another. What will happen if it runs the Payables Unaccounted transactions Sweep program?
The accounting date of the invoice will change to the first day of the new period specified.
Which two actions can a supplier perform through the Supplier Portal?
Select three reasons that a prepayment will NOT be available for applying to invoices.
The prepayment is of the Permanent type.
The prepayment validation status is Needs Revalidation.
The prepayment validation status is Unpaid.
Identify three correct statements about Invoice Approval.
Invoice approval uses Oracle Approval Management to determine who approves invoices and how they will be routed to different approval levels.
You can NOT define different approval rules for purchase order matched and unmatched invoice.
Invoice approval is required for customer refund payment requests.
Which three tasks are performed during the expense report reimbursement process?
Approval of expense report.
Creation of payables documents.
Attachment of receipts supporting expense reports.
Which three business rules prevent a distribution from being reversed?
If it is PO/RCV matched
If it represents an interest invoice line
If it represents a variance (IPV or ERV)
Identify three fields that will be extracted from an invoice when using the Integrated imaging solution.
Purchase Order number
What invoice approval status is required to apply the invoice approval action Hold from Approval?
Identify two privileges granted to the job role Accounts Payable Supervisor.
preparing French DAS2 Contractor Letters
initiating Payables Invoice Approval Task Flow
What duty must an employee have in order to create payables documents, review reimbursements, process results, and review expense exports?
Expense Entry Duty
Which three options are used to sort the Unaccounted Transaction Report?
Select three valid invoice line types.
A user, while entering an invoice for an asset for capitalization, has entered the GL Distribution charge Account. Identify the asset related account to which this invoice should match in order for it to be automatically converted into an asset in Fusion Assets.
Asset Cost Account
Select three true statements about the Invoice Validation process.
creates tax lines and distributions
creates withholding invoices
updates Supplier Balance
The Apply Missing Conversion Rates program can only be executed for a ___________.
Identify the search method that allows a search across expense items and expense reports using any information captured in the expense item or expense report.
A company has implemented the Supplier Portal. Select three correct statements regarding registration of a supplier in the Supplier Portal.
The buyer verifies the supplier information and sends an update on the registration request.
The buying company initiates the process of adding new suppliers by inviting supplier users to register or by registering supplier users directly.
The buyer company sends an invitation to the Supplier requesting a registration with the system, which in turn, sends a notification to the supplier.
Which three statements are true when a prepayment is applied to an invoice by selecting the option Include on Invoice?
The prepayment amount available for application is reduced.
The unpaid invoice amount is not affected by the prepayment application.
The prepayment amount paid is NOT updated In the Installment tab of invoice.
An invoice is created, paid, and is accounted for. Two adjustments are made to the invoice and validated with the same accounting date. Which statement is correct?
A Payment Adjustment Event is created for both adjustments.
A company has different payment terms for different suppliers. Payment terms with some suppliers also include discounts. Which report needs to be executed to identify the maximum discounts possible by the earliest payment to the suppliers or where they should have taken a discount but did not?
Payables Discounts taken and Lost Report
What are the three exceptions in the Payables Period Close Exceptions Report?
Open Intercompany Transactions
Incomplete Payment Process Request
The following Issue is reported by the AP Invoice User: When creating an invoice, there is no visual Indicator that prepayments exist for that supplier and are available to be applied against the invoice. There used to be a bell icon next to the supplier number, but it is not there anymore. Identify the correct action that a consultant must perform in order to resolve the issue.
Enable a Show Available Prepayments during Invoice Entry on the Manage Invoice Options page.
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 invoice overrides the purchase order payment term.
Choose three features of Oracle Fusion Expenses that facilitate streamlined expense item creation.
classification of expenses
imaged receipts attachment
efficient approval mechanism
What activity is performed by an Accounts Payable Manager with the duty role of Subledger Accounting Transaction Analysis Duty?
Analyses subledger accounting transactional information
Which three options in a Quick Payment do NOT impede the selection of documents?
A company has three Balancing Segment values. An Invoice is charged to all the three Balancing Segments. It is created with three distributions with the respective Balancing Segment values and the same Natural Account for AP Charge Account. Which set up should automatically account the liability account to the respective Balancing Segment Values?
During the invoice Import process, the implication assigns the accounting date from the first 5 finds. Which three sources will the application check for the accounting date?
Invoice Distribution record
Invoice Header record
Accounting Date parameter from the import submission
Which three accounting event types are predefined for the Accounting Event Class Prepayment Applications?
Prepayment Application Adjusted
Which are three key features of Expense Report Entry?
approval of expense reports through Oracle Fusion Approvals Management
association of receipt image for expedited processing
consolidated Information-DrivenWork Area
A Payment Process Request was submitted. Subsequently, the user realized that there are some errors in the payment file. The payment process was terminated by terminating the payment file. Which three statements are true?
The application sets the status of the payment file to terminated.
The application sets the status of each payment in the payment file to Canceled.
The application informs the source product of the terminated documents payable, unlocks the documents, and resets their status so that the documents are available for future selection.
What is the validation status of an invoice after it is loaded using the Launch Import Invoice program?
Identify three attributes of a Single Payment Request.
Identify two invoice approval actions that can be performed from the Accounts Dashboard.