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NEW QUESTION # 62
You created a new enterprise structure in the Cloud for a single country. In the structure, there are two legal entities: a single ledger and two business units (representing two warehouses, each owned by one of the legal entities). The tax regulations are common between the legal entities.
When assigning the tax regime to parties, what should you do to share all setup for Tax?
- A. Assign both business units to Global Configuration Owner.
- B. Assign one legal entity to Global Configuration and one business unit to First Party Configuration with Party Overrides.
- C. Assign the ledger to Global Configuration Owner.
- D. Assign one legal entity to Global Configuration and one legal entity to Party Specific Configuration.
- E. Assign two business units to First Party Configuration with Party Overrides.
Answer: C
Explanation:
This is the best option to share all setup for Tax when the tax regulations are common between the legal entities. The ledger is the highest level of party hierarchy and can be assigned as the Global Configuration Owner to share the tax regime, tax rates, and tax rules across all parties under it. Verified [How You Assign Tax Regimes to Parties - Oracle]
NEW QUESTION # 63
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 # 64
Manage Receipt Classes and Methods
Scenario
Supremo US Business unit needs to capture customer payments that will be reconciled in the Cash Management application. You need to define a receipt class and receipt method, and assign the appropriate bank account to meet this requirement.
Task:
Define Remittance Bank Account where:
Bank Account is associated with Receipt Method
Primary bank account is linked the Denver branch of Bank of America
Bank account number ends with 2870
Remittance bank account is effective as of January 1, 2023
GL Accounts section must contain the values below for company segment 120 Supremo Fitness
Answer:
Explanation:
See the explanation below for solution
Explanation:
Log in to Oracle Financials Cloud.
Click on the Remittance Bank Accounts icon in the Receivables work area.
Click on the Create button.
In the Remittance Bank Account window, enter the following information:
Name:XXRemittance Bank Account (Replace XX with your allocated user ID.) Bank Account Number:The bank account number that you want to associate with the receipt method.
Bank Name:Bank of America
Branch Name:Denver
Account Type:Checking
Effective Date:January 1, 2023
Primary:Yes
GL Accounts:
Company Segment:120 Supremo Fitness
Account Code:12000
Account Name:Accounts Receivable - Supremo Fitness
Company Segment:120 Supremo Fitness
Account Code:12001
Account Name: Allowance for Doubtful Accounts - Supremo Fitness
Click on the Save button.
The new remittance bank account will be created.
NEW QUESTION # 65
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 Site. per due date
- B. One per Invoice
- C. One per Customer
- D. One per Customer, per due date
Answer: C
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 # 66
Where is the summary delinquency data displayed on the Collections Dashboard?
- A. Aging tab
- B. Profile tab
- C. Correspondence tab
- D. Activity tab
Answer: B
NEW QUESTION # 67
Which statement is true when you create an Implementation Project for Oracle Financials Cloud?
- A. You must plan your Implementation Project carefully because you cannot delete it or make changes later.
- B. The Implementation Project is preconfigured and cannot be deleted or changed.
- C. You must select the offering "Financials" and each individual product or option to perform the setup for each product in Oracle Financials Cloud.
- D. When you select the offering "Financials," it automatically allows you to perform the setup for all Oracle Financials Cloud products.
- E. You need to make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.
Answer: E
NEW QUESTION # 68
Which three receipts can be automatically applied by a system? (Choose three.)
- A. receipts that are manually created
- B. receipts created in a lockbox and uploaded
- C. receipts created in a spreadsheet and uploaded
- D. receipts that are unapplied
- E. miscellaneous receipts
Answer: A,B,E
NEW QUESTION # 69
You have created payment terms in a system and associated them in the USA reference data set. All the payment terms in the system are shown as follows. 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 created in Business Unit X, which payment term set is available for use in a transaction?
- A. Net 45 (Enterprise Set), Net 45 (USA Set)
- B. Net 30 (Enterprise Set), Net 45 (Enterprise Set)
- C. 1%/10 Net 30 (USA Set), Net 45 (USA Set)
- D. Net 30 (Enterprise Set), Net 45 (USA Set)
Answer: B
NEW QUESTION # 70
You are investigating the Receivables to General Ledger Reconciliation report and must explain any variances to your Accounting Manager.
What two variance amounts should you expect to investigate in this report?
- A. Receivables Variance
- B. Accounting Variance
- C. Tax Variance
- D. Intercompany Variance
Answer: A,B
Explanation:
These are the two variance amounts that you should expect to investigate in the Receivables to General Ledger Reconciliation report. Accounting variance is the difference between the subledger journal entries and the general ledger journal entries. Receivables variance is the difference between the subledger balances and the general ledger balances. Verified [How You Reconcile Receivables to General Ledger - Oracle]
NEW QUESTION # 71
A Billing Specialist creates an adjustment for an incorrect invoice that exceeds a user's approval limit.
What is the status of the adjustment?
- A. Forwarded for Approval
- B. Pending Research
- C. Approval Required
- D. Pending Approval
Answer: D
NEW QUESTION # 72
Manage Receipt Classes and Methods
Scenario
Supremo US Business unit needs to capture customer payments that will be reconciled in the Cash Management application. You need to define a receipt class and receipt method, and assign the appropriate bank account to meet this requirement.
Task:
Create a manual Receipt Class, where:
Name of the new receipt class is XXReceipt Class (Replace XX with 03, which is your allocated User ID.) Receipts using this new receipt class will not be remitted Organization will use Cash Management to clear their receipts
Answer:
Explanation:
See the explanation below for solution
Explanation:
Log in to Oracle Financials Cloud.
Click on the Receipt Classes icon in the Receivables work area.
Click on the Create button.
In the Receipt Class window, enter the following information:
Name:XXReceipt Class (Replace XX with your allocated user ID.)
Creation Method:Manual
Remittance Method:No Remittance
Bank Account:The bank account that will be used to clear receipts for this receipt class.
Click on the Save button.
The new manual receipt class will be created.
To make sure that receipts using this receipt class will not be remitted:
Click on the Remittance Methods tab.
Select the check box next to No Remittance.
Click on the Save button.
The receipts using this receipt class will now not be remitted.
NEW QUESTION # 73
Which role provides access to Receivables - Revenue Adjustments Real Time OTBI Subject area?
- A. Revenue Manager
- B. Accounts Receivable Specialist
- C. Billing Specialist
- D. Accounts Receivable Manager
Answer: B
NEW QUESTION # 74
What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)
- A. Create Receipt Remittance Batch
- B. Lockbox Transmission History
- C. Correct Funds Transfer Errors
- D. Manage Receipt Remittance Batches
- E. Create Automatic Receipts
Answer: A,D,E
NEW QUESTION # 75
Your customer receives their invoices via the XML delivery method. They want to receive billing transactions for specific sites only. Now you have been tasked with creating a very focused delivery method of XML transactions for this customer site that should be receiving the invoice.
To define this setup, you must add a new lookup code to the AR Features lookup type in the Manage Receivables Lookups task. Which lookup code would you use?
- A. AR.INVOICE.XML.ENHANCED
- B. AR_CUSTOMER.DELIVERY
- C. AR_XML.DELIVERY.METHOD
- D. AR_NTERFACE.XML
- E. AR_XML_INVOICE_ENHANCED
Answer: C
Explanation:
This lookup code is used to define the XML delivery method for a customer site. You can specify the XML delivery method in the customer profile or in the transaction source. Verified [Overview of Oracle Receivables - Oracle]
NEW QUESTION # 76
There are a few customers that you do not want to send dunning letters to.
How would you exclude these customers from dunning?
- A. Disable Send Dunning Letter in Collections Preferences.
- B. Disable Send Dunning Letter in Transaction Source Type.
- C. Disable Send Dunning Letter in Transaction Type.
- D. Disable Send Dunning Letter on the Profile tab.
- E. Disable Send Dunning Letter on the Correspondence tab.
Answer: D
NEW QUESTION # 77
In Advanced Collections, scoring formulas are used to effectively manage your collection activities and strategies. Scoring formulas contain data points that help determine the collectability of your outstanding balances. To determine the number of days passed since the last payment was received from a customer, you can use the Age of Latest Payment data point.
At which details?
- A. Site
- B. Party
- C. Customer
- D. Organization
- E. Account
- F. Site Address
Answer: A
Explanation:
This is the level at which you can use the Age of Latest Payment data point to determine the number of days passed since the last payment was received from a customer. The Age of Latest Payment data point is calculated at the account level and shows the age of the most recent payment for each customer account. Verified [How You Define Scoring Components - Oracle]
NEW QUESTION # 78
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. Additional incentive-based sales credits
- B. Sales credit allocation based on billing corrections
- C. Sales credit reversals due to credit memo creation
- D. Sales credits associated to deferred revenue
Answer: D
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 # 79
Your customer has a state tax of 20% and a city tax of 10% as non-inclusive tax rates that are applicable on a transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD.
What will be the resulting tax and invoice amounts for your tax invoice?
- A. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD.
- B. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD.
- C. state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD.
- D. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD.
- E. state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 US
Answer: D
NEW QUESTION # 80
You are utilizing the "Upload Customer From Spreadsheet" option. What information on the Customer Worksheet must be unique for each customer record?
- A. Customer Number, Customer Account Number, Customer Site Number
- B. Customer Number, Customer Billing Address, Customer Bank Account
- C. Customer Name, Customer Account Number, Customer Site Number
- D. Customer Name, Customer Billing Address, Customer Bank Account
Answer: A
NEW QUESTION # 81
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? (Choose three.)
- A. Customer USA can pay for Customer West and its own transactions.
- B. Customer Japan can pay its own transactions.
- C. Customer Worldwide can pay for Customer USA, Customer Japan, Customer West, and its own transactions.
- D. Customer Japan can pay for Customer West, Customer USA, and its own transactions.
- E. Customer USA can pay for Customer Worldwide, Customer West, and its own transactions.
Answer: A,B,D
NEW QUESTION # 82
Which four output file types are available when you run the "Print Receivables Transactions" program?
- A. Zipped PDFs
- B. Word
- C. HTML
- D. JPG
- E. Excel
- F. PDF
Answer: A,C,E,F
NEW QUESTION # 83
Which statement is true about Balance Forward Billing?
- A. Transactions included on a Balance Forward Bill can be updated.
- B. Balance Forward Bills must be enabled at each bill-to-site level.
- C. Balance Forward Bills can be created for a future date.
- D. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle.
Answer: B
NEW QUESTION # 84
Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)
- A. The Transaction Summary Report shows only transactions with a status of received.
- B. You need to submit the Extract Intercompany Reconciliation Data job.
- C. 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.
- D. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
- E. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.
Answer: C,D
NEW QUESTION # 85
What do you need to total in order to find the total transaction price for a customer contract that is calculated by Revenue Management?
- A. the SSP amounts for all performance obligations in the customer contract
- B. the allocated amount for all performance obligations in the customer contract
- C. the selling price for all performance obligations in the customer contract
- D. the billing amount for all performance obligations in the customer contract
- E. the extended SSP amounts for all performance obligations in the customer contract
Answer: D
NEW QUESTION # 86
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