QUESTION: 11 Your client wants to simplify the reconciliation of Accounts Receivable standard receipts in Oracle Cash Management. All standard receipts are entered manually. The client wants to reconcile the exceptions, rather than try to reconcile every standard receipt item. The client also wants to be able to create miscellaneous bank charges when performing the bank reconciliation. Select the four setup options required to integrate Receivables with Cash Management and meet the objectives. (Choose four.)
A. Set up Receipt Source for Manual Receipts.
B. Set up Receivable Activities with the Bank Error type.
C. Set up Receivable Activities with the Adjustment type.
D. Set up Receivable Activities with the Miscellaneous Cash type.
E. Set up Receipt Class with Clearance Method of Automatic Clearing and Require Confirmation selected.
F. Set up Receipt Class with Clearance Method of Automatic Clearing and Require Confirmation deselected.
G. Set up Receipt Source for Automatic Receipts to create automatically reconciled receipts.
Answer: A, B, D, F
QUESTION: 12
PCS Inc. has a legacy billing system that contains a customer database. The company wants to maintain the legacy billing system and interface it with Oracle Accounts Receivable (AR) for customers and invoices. Which is a feasible customer interface option that PCS should consider?
A. Maintain AR as the customer database. Create customers in AR first. Match the information with the legacy system through the customer interface and update it if necessary.
B. Maintain the customer database in the legacy billing system. Create customers in the legacy system first, and then in AR through the customer interface. Update customers in AR manually on a daily basis.
C. After the customers are created in the legacy system, manually create them in AR. When there are changes in the legacy system, update customer information manually in AR.
D. Maintain the customer database in the legacy billing system. Create new customers in the legacy system and interface with AR by using the customer interface. The interface includes update of customer information.
E. Create customers in AR first, and then in the legacy system through the customer interface. Send daily updates of customers from AR to the legacy system through the customer interface.
Answer: D
QUESTION: 13 Your company is establishing policies for correcting invoices entered in error. Which two methods describe valid correction options in Oracle Receivables? (Choose two.)
A. Create debit memos linked to the invoices to be debited.
B. Route credit memos to Pending status if they exceed predefined approval limits.
C. Import on-account credits from Order Management linked to the invoices to be credited.
D. Update invoices not posted to the General Ledger by incompleting, changing, and recompleting them.
E. Void invoices posted to the General Ledger in error and create replacement invoices for the correct amount.
F. Adjust invoices posted to the General Ledger in error by increasing or decreasing the original invoice amounts.
Answer: D, F
QUESTION: 14 Maison Suppliers Inc. occasionally charges sales tax erroneously to some customers. The company's current process is to manually issue a credit memo to correct the customer's account. The customers routinely deduct the sales tax from the invoice before paying. The company is looking for a simpler way to adjust the tax on its accounts receivable. It also wants the AR manager to approve the tax adjustment. Which two steps would simplify the process? (Choose two.)
A. Set up AutoAccounting.
B. Set up Adjustment Approval Limits.
C. Select the Allow Override of Tax Code profile option.
D. Set up Transaction Type for Tax Adjustment.
E. Define Receivable Activity of Adjustment with tax accounting distribution.
F. Define Receivable Activity of Miscellaneous Cash with tax accounting distribution.
Answer: B, E
QUESTION: 15 Arthur, an accountant at ABC Company, is running AutoReconciliation. He wants to review any error arising from reconciliation. The company does not use Receivables Lockbox and the bank statement includes direct deposits. He wants the program to create a debit memo for 'Not Sufficient Funds '(NSF) or rejected receipts. As a consultant, which two suggestions would you provide him? (Choose two.)
A. From the AutoReconciliation parameter window, he needs to choose "Reverse" for NSF handing field.
B. He can review the AutoReconciliation Execution Report to identify any errors. This report is run automatically.
C. He must create receipts related to direct deposits manually in Receivables before running AutoReconciliation.
D. When running AutoReconciliation, he should populate the bank account number for the statement to reconcile. This field is required.
Answer: B, C
QUESTION: 16 The tax process in Accounts Receivable (AR) includes all these features to handle various tax requirements for a global company, except.
A. tax group
B. location tax
C. input tax credit
D. item exemption
E. value-added tax
F. harmonized sales tax
G. integrated tax partner solutions
Answer: C
QUESTION: 17 Jason is tasked with merging customers and customer sites that are deemed to be duplicates. He has identified the list of candidates for merging. Choose the scenario that is NOT possible with customer merge.
A. Merge the Bill-To site of Customer B into the Bill-To site of Customer C.
B. Merge the Ship-To site of Customer A into another Bill-To site of the same customer.
C. Merge the Ship-To site of Customer H into another Ship-To site of the same customer.
D. Merge the Bill-To and Ship-To sites of Customer D into the Bill-To and Ship-To sites of Customer E.
E. Merge the Bill-To, Ship-To, and Statement sites of Customer J into the Bill-To site of Customer K while creating the Ship-To and Statement sites in for Customer K.
F. Merge the Bill-To, Ship-To and Statement sites of Customer F into the sites of Customer G with the same business purpose.
Answer: B
QUESTION: 18 A user attempted to close the Accounts Receivable (AR) accounting period and received an error. What could be the cause of the error?
A. AutoInvoice not run
B. invoice exceptions existing
C. lockbox interface errors
D. AutoInvoice interface errors
E. General Ledger Interface not run
F. invoices entered but not completed
G. General Ledger Journal Import not run
Answer: E
QUESTION: 19 You want an invoice to be due in four stages. To accomplish this, what should you do when creating the invoice?
A. assign an invoicing rule with four schedules
B. assign an accounting rule with four schedules
C. assign payment terms that have four payment schedules
D. assign payment terms that have four discount periods defined
E. create four lines, and assign different payment terms to each line
Answer: C
QUESTION: 20 Your client has these business requirements related to the processing of receipts.
1) The client needs to create receipts which are to be manually entered into the Receivables system; the receipts may correspond to two payment methods: cash and checks.
2) The client has two bank accounts, and each account accepts both cash and checks. The receipts entered into the receivables system are to be matched and reconciled daily against the receipts that are cleared by the bank. Select the option containing the correct setup steps, in correct sequence, to meet the client's needs.
A. Set up two remittance banks. Set up a receipt class with Entry Method: Manual, Remittance Method: Standard, and Clearance Method: Automatic Clearing. Assign both the payment methods (cash and checks) to the same receipt class.
B. Set up two remittance banks. Set up a receipt class with Entry Method: Manual and Clearance Method: By Matching. Assign two payment methods (one for cash and the other for checks). Set up two receipt sources, one for cash and the other for checks; the receipt sources are to be assigned to the payment methods and receipt class.
C. Set up two remittance banks. Set up a receipt source with Entry Method: Manual, Remittance Method: Standard, and Clearance Method: Direct. Assign the two payment methods (one for cash and the other for checks). Then set up a receipt class to which the receipt source and payment method will be assigned.
D. Set up two remittance banks. Set up one receipt class with Entry Method: Manual, Remittance Method: Standard, and Clearance Method: By Matching. Assign the two payment methods to the same receipt class. Set up a receipt source to which the receipt class and payment methods set up in the previous steps will be assigned.
Answer: D
<--Previous Set Q&A
A. Set up Receipt Source for Manual Receipts.
B. Set up Receivable Activities with the Bank Error type.
C. Set up Receivable Activities with the Adjustment type.
D. Set up Receivable Activities with the Miscellaneous Cash type.
E. Set up Receipt Class with Clearance Method of Automatic Clearing and Require Confirmation selected.
F. Set up Receipt Class with Clearance Method of Automatic Clearing and Require Confirmation deselected.
G. Set up Receipt Source for Automatic Receipts to create automatically reconciled receipts.
Answer: A, B, D, F
QUESTION: 12
PCS Inc. has a legacy billing system that contains a customer database. The company wants to maintain the legacy billing system and interface it with Oracle Accounts Receivable (AR) for customers and invoices. Which is a feasible customer interface option that PCS should consider?
A. Maintain AR as the customer database. Create customers in AR first. Match the information with the legacy system through the customer interface and update it if necessary.
B. Maintain the customer database in the legacy billing system. Create customers in the legacy system first, and then in AR through the customer interface. Update customers in AR manually on a daily basis.
C. After the customers are created in the legacy system, manually create them in AR. When there are changes in the legacy system, update customer information manually in AR.
D. Maintain the customer database in the legacy billing system. Create new customers in the legacy system and interface with AR by using the customer interface. The interface includes update of customer information.
E. Create customers in AR first, and then in the legacy system through the customer interface. Send daily updates of customers from AR to the legacy system through the customer interface.
Answer: D
QUESTION: 13 Your company is establishing policies for correcting invoices entered in error. Which two methods describe valid correction options in Oracle Receivables? (Choose two.)
A. Create debit memos linked to the invoices to be debited.
B. Route credit memos to Pending status if they exceed predefined approval limits.
C. Import on-account credits from Order Management linked to the invoices to be credited.
D. Update invoices not posted to the General Ledger by incompleting, changing, and recompleting them.
E. Void invoices posted to the General Ledger in error and create replacement invoices for the correct amount.
F. Adjust invoices posted to the General Ledger in error by increasing or decreasing the original invoice amounts.
Answer: D, F
QUESTION: 14 Maison Suppliers Inc. occasionally charges sales tax erroneously to some customers. The company's current process is to manually issue a credit memo to correct the customer's account. The customers routinely deduct the sales tax from the invoice before paying. The company is looking for a simpler way to adjust the tax on its accounts receivable. It also wants the AR manager to approve the tax adjustment. Which two steps would simplify the process? (Choose two.)
A. Set up AutoAccounting.
B. Set up Adjustment Approval Limits.
C. Select the Allow Override of Tax Code profile option.
D. Set up Transaction Type for Tax Adjustment.
E. Define Receivable Activity of Adjustment with tax accounting distribution.
F. Define Receivable Activity of Miscellaneous Cash with tax accounting distribution.
Answer: B, E
QUESTION: 15 Arthur, an accountant at ABC Company, is running AutoReconciliation. He wants to review any error arising from reconciliation. The company does not use Receivables Lockbox and the bank statement includes direct deposits. He wants the program to create a debit memo for 'Not Sufficient Funds '(NSF) or rejected receipts. As a consultant, which two suggestions would you provide him? (Choose two.)
A. From the AutoReconciliation parameter window, he needs to choose "Reverse" for NSF handing field.
B. He can review the AutoReconciliation Execution Report to identify any errors. This report is run automatically.
C. He must create receipts related to direct deposits manually in Receivables before running AutoReconciliation.
D. When running AutoReconciliation, he should populate the bank account number for the statement to reconcile. This field is required.
Answer: B, C
QUESTION: 16 The tax process in Accounts Receivable (AR) includes all these features to handle various tax requirements for a global company, except.
A. tax group
B. location tax
C. input tax credit
D. item exemption
E. value-added tax
F. harmonized sales tax
G. integrated tax partner solutions
Answer: C
QUESTION: 17 Jason is tasked with merging customers and customer sites that are deemed to be duplicates. He has identified the list of candidates for merging. Choose the scenario that is NOT possible with customer merge.
A. Merge the Bill-To site of Customer B into the Bill-To site of Customer C.
B. Merge the Ship-To site of Customer A into another Bill-To site of the same customer.
C. Merge the Ship-To site of Customer H into another Ship-To site of the same customer.
D. Merge the Bill-To and Ship-To sites of Customer D into the Bill-To and Ship-To sites of Customer E.
E. Merge the Bill-To, Ship-To, and Statement sites of Customer J into the Bill-To site of Customer K while creating the Ship-To and Statement sites in for Customer K.
F. Merge the Bill-To, Ship-To and Statement sites of Customer F into the sites of Customer G with the same business purpose.
Answer: B
QUESTION: 18 A user attempted to close the Accounts Receivable (AR) accounting period and received an error. What could be the cause of the error?
A. AutoInvoice not run
B. invoice exceptions existing
C. lockbox interface errors
D. AutoInvoice interface errors
E. General Ledger Interface not run
F. invoices entered but not completed
G. General Ledger Journal Import not run
Answer: E
QUESTION: 19 You want an invoice to be due in four stages. To accomplish this, what should you do when creating the invoice?
A. assign an invoicing rule with four schedules
B. assign an accounting rule with four schedules
C. assign payment terms that have four payment schedules
D. assign payment terms that have four discount periods defined
E. create four lines, and assign different payment terms to each line
Answer: C
QUESTION: 20 Your client has these business requirements related to the processing of receipts.
1) The client needs to create receipts which are to be manually entered into the Receivables system; the receipts may correspond to two payment methods: cash and checks.
2) The client has two bank accounts, and each account accepts both cash and checks. The receipts entered into the receivables system are to be matched and reconciled daily against the receipts that are cleared by the bank. Select the option containing the correct setup steps, in correct sequence, to meet the client's needs.
A. Set up two remittance banks. Set up a receipt class with Entry Method: Manual, Remittance Method: Standard, and Clearance Method: Automatic Clearing. Assign both the payment methods (cash and checks) to the same receipt class.
B. Set up two remittance banks. Set up a receipt class with Entry Method: Manual and Clearance Method: By Matching. Assign two payment methods (one for cash and the other for checks). Set up two receipt sources, one for cash and the other for checks; the receipt sources are to be assigned to the payment methods and receipt class.
C. Set up two remittance banks. Set up a receipt source with Entry Method: Manual, Remittance Method: Standard, and Clearance Method: Direct. Assign the two payment methods (one for cash and the other for checks). Then set up a receipt class to which the receipt source and payment method will be assigned.
D. Set up two remittance banks. Set up one receipt class with Entry Method: Manual, Remittance Method: Standard, and Clearance Method: By Matching. Assign the two payment methods to the same receipt class. Set up a receipt source to which the receipt class and payment methods set up in the previous steps will be assigned.
Answer: D
<--Previous Set Q&A
