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1Z0-507 - Oracle Fusion Financials 11g Accounts Payable Essentials - Dump Information

Vendor : Oracle
Exam Code : 1Z0-507
Exam Name : Oracle Fusion Financials 11g Accounts Payable Essentials
Questions and Answers : 119 Q & A
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1Z0-507 Questions and Answers

Pass4sure 1Z0-507 Dumps with Real Questions & Practice Test


  1. Payables Balance Analysis Duty

  2. Business Intelligence Authoring Duty

  3. Disbursement Process Management Duty

  4. Accounts Payable Period Status Management Duty


Answer: B, D, E


QUESTION: 109

Which three tabs are available on a Single Payment Request?


  1. Payment Details

  2. Additional Information

  3. Processing Options

  4. Accounting

  5. Advanced


Answer: A, B, C


Explanation:

The figure below shows the six subtabs of the Payment Process Requests tab that are visible when you create a single payment request.


image


QUESTION: 110

An invoice for $1,000 and a credit memo for $1,100 are due for payment.


Which two outcomes will result if the Apply Credits up to Zero Amount Payment option is enabled in the Payment and Processing options of the Payment Process Request?


  1. Both the invoice and credit memo are included in the payment process request

  2. Neither the invoice nor the credit memo is included in the payment process request.

  3. Both the invoice and credit memo are paid fully.

  4. Only the invoice is paid fully but the credit memo will have a balance of $1,100.

  5. The invoice is paid fully but the credit memo is paid partially when a credit of $100 still remaining.


Answer: A, D


Explanation:

Similar example:

Credit Amount Greater Than Invoice Amount

An invoice for 200 USD and a credit memo for 225 USD are due for payment. If the option Apply credits up to zero amount payment is:

Enabled (A, D): Both the invoice and credit memo are included in the payment process request for a payment amount of 0 USD. The invoice is paid and the credit memo is partially paid with a remaining credit of 25 USD.

Disabled: Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero. Both the invoice and credit memo are listed on the Not Selected tab on the Review Installments page.


Reference:

Fusion Applications help, Applying Credits Up to Zero Amount Payments: Examples


QUESTION: 111

Identify three attributes of a Single Payment Request.


  1. one-time

  2. recurring

  3. nonrecurring

  4. real time

  5. batch processing


Answer: A, B, E


QUESTION: 112

Identify two points to be considered when setting up the Accounts Payable to General Ledger Reconciliation.


  1. Configuring Data Security

  2. Configuring User Security

  3. Payables System Setup

  4. Assigning a Payables Category

  5. Assigning a Financial Category


Answer: B, E


Explanation:

Consider these points when setting up for Oracle Fusion Payables to general ledger reconciliation.

Reconciling by Business Unit or Ledger Assigning a Financial Category

Setting the Reconciliation Data Purge Frequency Profile Option Configuring User Security

Note:

Periodically, you need to reconcile the transactions in your accounts payable application, both before and after you post to the general ledger. The Payables to General Ledger Reconciliation extract and report help to simplify this process and reduce the amount of manual reconciling activity required.

The automated activities in the reconciliation process function according to the way you have set up your Financials environment. A review of some of these setups can help improve the overall reconciliation process.


image


Reference:

Fusion Applications Help, Setting Up for Payables to General Ledger Reconciliation: Points to Consider


QUESTION: 113

A company has implemented the Supplier Portal WITHOUT the invoice approval workflow. When a supplier enters an invoice WITHOUT a purchase order match, what is the status of the invoice request?


  1. Incomplete

  2. Complete

  3. In Process

  4. In Progress

  5. Invalid Answer: D Explanation:


Note:

A payment for a negative amount that closes out an outstanding credit balance.


Reference:

Fusion Applications help, Payment Types: Points to Consider


Oracle 1Z0-507 Exam (Oracle Fusion Financials 11g Accounts Payable Essentials) Detailed Information

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