Oracle Fusion Financial Payables Certification:1Z0-1055-20

Question 59

Which two Payment Controls can be overridden by creating a manual Single Payment Request?

 

Options: -

A. Multiple Pay Alone Invoices

B. All payment methods

C. Enable Charge Deduction from Payment

D. Supplier, with the Hold All Payments option enabled

E. Allow Pre-Date

 

Answer: A & D

Answer Explanation:

With a manual payment, you can override some payment controls of Payables. You can record a single payment for multiple Pay Alone invoices. You can record payment for invoices that are associated with any Payment Method type, except Electronic. You can also record a payment for an invoice for a supplier that has the Hold All Payments option enabled.

 

Oracle Fusion Financial Payables Certification:1Z0-1055-20

Question 60

There is a business requirement to cancel all related invoices when voiding a payment. In which two scenarios the invoices can NOT be canceled?

 

Options: -

A. The invoice is fully matched to a Purchase Order which is fully received.

B. The invoice has been partially paid by another payment.

C. The Invoice has been partially paid by a Prepayment.

D. The invoice has an associated withholding tax invoice.

E. The invoice is already accounted.

Correct Answer: B & C

Answer Explanation:

You can cancel only unpaid invoices.

Option B: You can cancel any unapproved invoice, or an approved invoice that does not have any effective payments or posting holds. If an invoice has a hold that prevents posting, you must release the hold before you cancel the invoice. You cannot cancel an invoice that has been selected for payment in a payment batch. A cancelled invoice does not show up in your invoice liability reports and you cannot pay or adjust a cancelled invoice. You can cancel single invoice distributions by reversing them.

Option C: You cannot cancel an invoice to which you have applied a prepayment. You must first unapply any prepayments and void the payment that paid the prepayment. You can then cancel the prepayment

Question 62

A supplier is using a payment term where the total amount is due on the 10th day of the month; two months ahead with cut off day of 20. The invoice date terms for this specific Supplier.

The supplier has raised an invoice for goods received on April 18 with invoice date of April 24. The invoice was received on April 28. Determine the due date of the invoice?

 

Options: -

A. 10-May

B. 10-Jun

C. 24-Jun

D. 10-Jul

E. 24-Jul

 

Answer: D

Answer Explanation:

Customers who have invoices that fall due before the cutoff day of the invoices' payment terms receive invoices on the day that you specify in the Due: Day of Month field for the current month. Customers who have invoices with payment terms that fall due after the terms' cutoff day receive invoices on the day that you specify in the Due: Day of Month field for the next month of each of these terms.

Note:

* Cutoff Day. For Day of Month type terms only, the day of month after which the due and discount dates of the scheduled payment will be in a future month. The exact month depends on the value you enter for Months Ahead. Payables compares the invoice terms date to the Cutoff Day. If you leave this field blank, Payables always uses the current accounting month to determine the due and discount dates. For example, your Cutoff Day is 11, your Months ahead is zero, and your Day Of Month due date is 15. If you enter an invoice with a terms date of January 12, Payables will set the due date for February 15. If you use Due Days or Fixed Date type terms, do not enter a cutoff day.

Question 63

Which are the three tax types calculated and displayed in the totals area of the invoice page?

 

Options: -

A. Inclusive Tax

B. Recoverable Tax

C. Non-Recoverable tax

D. Withheld Tax

E. Self-Assessed Tax

 

Answer: A, D & E

Answer Explanation: NA