1Z0-517 - Oracle EBS R12.1 Payables Essentials
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A table has 15 Attribute columns to capture additional information. The attributes 1-12 are set up in the Descriptive Flexfield as Global Segments. How many attributes can be set up under any new context?
Identify the Receivables activity type where you are unable to select the tax rate code source option of invoice.
Identify three steps to be performed after defining a flexfield structure, but before entering values. (Choose three.)
Select the "Freeze Flexfield Definition" check box.
Click the Compile button to build the flexfield structure.
Save your changes before freezing the flexfield definition.
ABC Systems is headquartered in Toronto with a branch in New Delhi. The Toronto office uses a weekly calendar, whereas the New Delhi office uses a monthly calendar. The GL journals of New Delhi must be reflected in Toronto's books. What conversion method would you use?
Use journal-level secondary ledger conversion.
Identify three statements that are true about E-Business Tax and Payables. (Choose three.)
In E-Business Tax, there is one repository with detailed and fully allocated tax lines.
With E-Business Tax, you can account for recoverable taxes at the time and to the extent of payment in Payables.
Payables integrates with E-Business Tax to automatically determine and calculate the applicable tax lines for the invoices.
E-Business Tax calculates the amount of tax that is recoverable on the basis of the tax setup. To implement accrual-based accounting recoverable tax, four setups are needed. (Choose four.)
Enable "Allow tax recovery."
Set the default recovery settlement option to "Deferred."
Define tax accounts, tax expense, recoverable tax, and interim tax.
Enable the default recovery settlement options at the regime, tax, tax status, or tax rate levels.
The Quick Payment method is best described as the method of _____.
creating and printing a computer-generated payment to pay a supplier for one or more invoices
Which statement is true about paying invoices?
An invoice must be validated before you can create invoice accounting entries.
ABC Corporation imports invoices from Suppliers through the Oracle Payables Open Interface tables. It wants to capture the Supplier Reference number on the Invoice Descriptive Flexfield and wants to review the Reference number on the interface form before importing invoices into Oracle Payables. Identify the two DFFs that you would implement and the Attribute you would use to capture the Supplier Reference number. (Choose two.)
Invoice DFF with Attribute2
Invoice Gateway Header DFF with Attribute2
In the accrual process for period-end accruals, which two events generate accounting entries that can be transferred to General Ledger? (Choose two.)
running the period-end accrual program
entering invoices and matching them in Payables
You receive a request to create a new responsibility for US Payables Manager. The request states that the new responsibility should have access to all menu items except Invoice Payments. Identify two options that you would use to restrict the Invoice Payments option on the new US Payables Manager responsibility. (Choose two.)
Create a Menu Exclusion for Invoice Payments on the US Payables Manager responsibility.
Create a new menu excluding the Invoice Payments option and attach the new menu to the responsibility.
ABC.com wants to create invoices for suppliers on the basis of purchase order (PO) receipts. Which three steps should the company take in Payables? (Choose three.)
Enable Gapless numbering
Enable pay on receipt at site level
Submit the pay on Receipt Auto Invoice Program
Sam, the CFO of XYZ Company, wants to prepare the annual capital expenditure budget for the current year with reference to the capital expenditure budget of the previous year. The capital expenditure budget is subdivided into multiple items, and the corporate calendar used at XYZ Company has thirteen periods. Which budget rule must Sam use to minimize the effort.
prior year budget monetary and prior year budget statistical
Identify two business benefits of using Multi-Org Access Control. (Choose two.)
Inquiry-only access to data across different Operating Units
Transaction entry across Operating Units using one responsibility
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
ABC Corporation has five companies, which operate in different industries. Each company has a different ledger-processing option that is industry specific. Choose the number of primary ledgers that are required to be defined.
Which form can you use to set up automatic transaction numbering?
Client L has implemented Oracle Payables. They have been able to enter invoices and have them validated, but have been unable to create accounting entries. You have been asked to review the situation. Identify what could be causing this problem.
The Payables Accounting Process was not submitted.
Before you can pay or create accounting entries for an invoice, the Invoice Validation process must validate the invoice. After this process is run, there is data that cannot be updated, modified, or changed. Choose three data fields that cannot be updated, modified, or changed after the Invoice Validation process has run and this invoice has a prepayment applied to it. (Choose three.)
Which two are the mandatory flexfield qualifiers in Oracle General Ledger? (Choose two.)
natural account segment
A company wants to secure its employee information by three regions: EMEA, AMERICAS, and APAC. This would entail the creation of three _____.
When you change a summary account template funds check level from None to Advisory or Absolute, you need to _____.
delete the original template and then recreate it for the appropriate funds check level
Identify what three considerations must be executed before creating a report by using the financial statement generator. (Choose three.)
Determine the data to be reported.
Define attributes for rows and columns.
Decide which rows and columns will make up the report.
You have the option to define your own accounting rules in Oracle Subledger Accounting to meet your implementation's business requirements by using ______.
The accounting methods builder
Scott is implementing Oracle General Ledger for ABC Corporation. He needs help as he creates the accounting setup. Which two are true for the creation of the accounting setup? (Choose two.)
Before completing the accounting setup, secondary ledgers and currency can be deleted.
A calendar cannot be assigned if it contains gaps between periods or it does not have a full fiscal year defined.
At your client site, under Payables Options, the Transfer to GL option has been set to Summarize by Accounting Period. The period-end close processes for AP have run and the Payables journals (purchase invoices and payments) have been created and posted in GL. Which statement is true?
It is possible to drill down from journals of categories purchase invoices and payments in GL to Payables.
You can define a credit hierarchy of parties and party relationships to consolidate and display all credit data for the entire hierarchy in Credit Management. Which profile option should be set to enable this functionality?
AR: Credit Hierarchy Type
The SLA: SRS Trace Mode profile option indicates where the debug information provided by the concurrent programs is printed. The values for this profile option are _____ and _____. (Choose two.)
To review available Financial Statement Generator elements, which two reports would be helpful? (Choose two.)
Column Set Summary Listing, Row Set Detail Listing
Which three are true regarding purchase order-matched invoices? (Choose three.)
You can set up controls in your system to require you to purchase order-match each invoice.
You can set an option on a purchase order shipment that controls whether invoices must match that shipment directly or through a receipt.
You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are greater than the amounts or quantities on the purchase order or receipt.
Identify three modules that can be secured using the Operating Unit in Oracle E-Business Suite Release 12. (Choose three.)
Oracle Cash Management
ABC.com has three companies in Canada, two companies in the United States, two companies in Singapore, and one company in Belgium. All the companies, except for one in Canada, have the same fiscal year-end calendar. ABC Enterprise wants to use a common chart of accounts structure globally and set up each company as a balancing segment value. What is the minimum number of sets of books that should be defined?
You are implementing Oracle General Ledger at ABC Enterprises. ABC Enterprises is a legal entity and must perform corporate and statutory reporting. It operates in a country that requires companies to have two complete ledgers: one for statutory reporting and another for corporate reporting. Identify the best option for primary and secondary ledgers.
Use the primary ledger to satisfy corporate reporting requirements, and then use a secondary ledger to satisfy statutory reporting requirements.
ABC Inc. wants to have 16 accounting periods that include an adjusting period for each quarter in its 4-5-4 accounting calendar. Its fiscal year-end is March 31.The normal month-end is on a Friday, but the last day of each quarter is always on the last day of the quarter's final calendar month.Select the remaining setup for the calendar to meet the requirement.
defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month, except for the last month of each quarter ending on the last day of the month; defining an adjusting period for each of the last day of the quarter
Identify two exceptions that prevent you from closing the period in Payables. (Choose two.)
outstanding pay runs
ABC.com's global chart of accounts structure includes the Company (balancing) segment and Intercompany segment (with Intercompany segment qualifier) in order to properly identify the intercompany trading party. Which statement is NOT true about using an Intercompany segment in the chart of accounts structure? (Choose the statement that is NOT true.)
If a journal entry is balanced within the same company value in the balancing segment, GL automatically uses the value in the Intercompany segment to create additional journal lines for the trading company.
In Oracle E-Business Suite Release 12, at which level can you exclude a function from a responsibility?
Menu, submenu, or function
Which two statements are true if you select the QuickMatch invoice type? (Choose two.)
Payables automatically completes the match to all available shipments on the purchase order.
Payables automatically creates invoice distributions on the basis of the purchase order distributions.
ABC Corp. wants to allocate the gross amount of XYZ Co. invoices to fifty cost centers each time an invoice is received from them. The cost centers that are to be charged require minimal updating. Select the option you would recommend that requires minimal ongoing maintenance.
Create a distribution set for all the desired accounts and associate it to all new invoices for this supplier.
Which three are the benefits of the Currency Rates Manager in Oracle General Ledger? (Choose three.)
You can maintain daily rates and historical rates more easily.
You get improved efficiency with the help of the spreadsheet interface.
You can maintain consistency among different currency conversion rates.
ABC.com wants to define a consolidation process for its enterprise. It has two sets of books: set of books A and Set of Books B. Both sets of books will be defined in Oracle General Ledger. Set of books A will have three companies with the same chart of accounts as set of books B. Set of books A will have USD as its currency. Set of books B will have four companies with the same chart of accounts and different calendar as set of books A. Set of books B will have GPD as its currency. Which consolidation method would you recommend?
Global Consolidation System
In the context of adding, deleting, and disabling secondary ledgers, select two valid statements. (Choose two.)
The subledger accounting method must not be assigned if defining an adjustments-only secondary ledger for manual adjustments in General Ledger.
The subledger accounting method must be assigned to both primary and secondary ledgers to use the adjustments-only secondary ledger for both manual and automated adjustments from subledger accounting.
XYZ Corporation is headquartered in Dubai with a branch in Kuwait. Dubai uses a weekly calendar and Kuwait uses a monthly calendar. The plan is to close the Kuwait operations and open a new branch in Bangalore. The Kuwait secondary ledger will be deleted and the new Bangalore secondary ledger will be added. Bangalore will use a different chart of accounts from that of Dubai and will use a weekly calendar. Select two valid statements. (Choose two.)
After adding the Dubai ledger, the ledger options step must be completed.
If the Kuwait ledger is disabled, it is still available for historical reporting and manual journal entries.
Purchasing has numerous activities that are performed as a key part of the Procure-to-Pay process. Select three activities that are performed in the Purchasing module that will integrate into Payables. (Choose three.)
creating purchase orders
creating purchase order detailed accounting information
Oracle Fusion Intelligence Release 12 is a set of new Application products and one of the first of the Fusion Applications. Select four features that Oracle Fusion Intelligence Release 12 provides. (Choose four.)
Guided navigation and action links
Extends and configures Key Performance Indicators
When you use invoice Approval workflow, which setup options in the Payables options form are related to invoices? (Choose three.)
Allow Force Approval
Use Invoice Approval Workflow
Require Validation Before Approval
Which journal entry type does General Ledger automatically reverse and post?
Identify three statements that properly describe the use of distribution sets. (Choose three.)
Assign a distribution set to an invoice when you enter it.
Assign a default distribution set to a supplier site, so Payables will use it for every invoice you enter for that supplier site.
Use a distribution set to enter distributions for an invoice automatically when you are not matching it to a purchase order.
You are working on an implementation for Accounts Payable. Many payments for small suppliers will be made outside the system, but your client does not want to manually record them because that would be time consuming. Choose the best solution.
Create electronic payment batches by using a wire payment method for those multiple suppliers, and then delete the resulting electronic file.
Shared entities are used throughout Oracle E-Business Suite Release 12. Identify the four entities that are shared. (Choose four.)
Unit of Measure
Oracle Application Object Library (AOL)