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

Question 72

Identify three correct statements about Invoice Approval.

 

Options: -

A. Invoice approval uses Oracle Approval Management to determine who approves invoices and how they will be routed to different approval levels.

B. You can define different approval rules for purchase order matched and unmatched Invoices.

C. You can NOT define different approval rules for purchase order matched and unmatched invoice.

D. Approval rules can be set up at position, job, and supervisory hierarchy levels depending on approval needs.

E. Invoice approval is required for customer refund payment requests.

 

Answer: A, C & E

Answer Explanation:

Option A: Oracle Fusion Payables supports automatic invoice approval using Approval Management extensions

(AMX) of the Oracle SOA Suite and the Oracle Business Process Management (BPM) Suite.

Note: Invoice Approval

If you enable invoice approval, Payables uses the predefined task and rule set “FinApInvoiceApproval”: InvoiceApprovalRuleSet, which you can configure.

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

Question 73

What are the three sections in the Payables Key Indicators Report?

 

Options: -

A. Recent Activity

B. Current Activity

C. Invoice Activity

D. Payment Activity

E. State of the Application

 

Answer: B, C & E

Answer Explanation:

 

Question 74

Which section of the invoice Dashboard shows Invoices that require validation and were created from scanned invoices processed through the Integrated Imaging solution?

 

Options: -

A. Scanned Invoices

B. Recently Entered Invoices

C. Invoices Requiring Attention

D. Available Prepayments

E. Process Monitor

 

Answer: B

Answer Explanation: NA

 

Question 75

An installment meets all the selection criteria of a payment process request but still did NOT get selected for payment.

Identify two reasons for this ?

 

Options: -

A. The pay-through date is in the closed period.

B. The pay-through date is in the future period.

C. The invoice needs revalidation.

D. The invoice has NOT been accounted.

E. The installment was manually removed.

 

Answer: A & C

Answer Explanation:

An installment can meet the selection criteria of a payment process request, yet not get selected for

payment for one or more reasons.

You can review installments that were not selected for payment, along with the reasons they were not

selected, on the Not Selected tab of the Review Installments page.

The reasons are as follows:

* Payment date in closed period (A)

* Invoice needs revalidation (C)

* Rejected by approver

· Withholding tax calculation error

· Credit reduces payment amount below zero

· Invoice requires approval

· Invoice never validated

· Payment date before system date not allowed

· Installment on hold

· Supplier site on payment hold

· Installment manually removed

· Zero amount installments excluded

Note: * installment

One of many successive payments of a debt. You specify how you want payments made when you define your payment terms.

* Pay-Through-Date

An Oracle Applications feature you use during automatic payment processing. You define a payment cycle (the number of days between regular payment batches), and Oracle Applications calculates the Pay-Through-Date by adding the number of days in the payment cycle to the payment date. Oracle Applications selects an invoice for payment if either the due date or discount date is before the Pay- Through-Date

* A payment process request is a grouping of installments that are processed for payment. For each request, you can specify selection criteria, payment attributes, and processing options.

Reference: Oracle Fusion Applications Procurement, Payables, Payments, and Cash Guide, Why did not an installment get selected for payment?