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

Question 9

A company has three Balancing Segment values. An Invoice is charged to all the three Balancing Segments. It is created with three distributions with the respective Balancing Segment values and the same Natural Account for AP Charge Account. Which set up should automatically account the liability account to the respective Balancing Segment Values?

Options: -

A. Distribution Set

B. Invoice Matching

C. Automatic Offset

D. Sub ledger Accounting Setup

E. Default Distributions

Answer: C

Answer Explanation:

If you enter invoices for expenses or asset purchases for more than one primary balancing segment value, you might want to use automatic offsets to keep your Oracle Fusion Payables transaction accounting entries balanced. If you do not use automatic offsets, Payables creates a single liability accounting entry for invoice transactions and a single cash type accounting entry for payment transactions.

Question 10

What duty must an employee have in order to create payables documents, review reimbursements, process results, and review expense exports?

Options: -

A. Expense Audit Duty

B. Expense Export Duty

C. Expense Entry Duty

D. Expense Management Analysis Duty

E. Expense Policies and Rules Administration Duty

Answer: A

Answer Explanation: NA

Question 11

Which three business rules prevent a distribution from being reversed?

Options: -

A. If it is PO/RCV matched

B. If it represents a prepayment application/un application

C. If it represents an interest invoice line

D. If it is already posted to a subledger

E. If it represents a variance (IPV or ERV)

Answer: A, B & E

Answer Explanation:

You cannot update, reverse, or delete a distribution if:

* The Invoice is PO/RCV matched. Such reversals must be accomplished by discarding the entire Line.

* The distribution is on a Prepayment type invoice and the distribution has been applied. (C)

* The Invoice represents a variance (IPV or ERV). A variance is only reversed as part of discarding the

parent line or cancelling the invoice. (E) Etc.

Question 12

Which are the two benefits of using the I Supplier Invoice approval process.

Options: -

A. automatic routing for approval

B. manual routing for approvals

C. manual Hold Resolution

D. automatic Hold Resolution

Correct Answer: A & C

Answer Explanation:

Oracle I Supplier Portal provides visibility to payment status for all invoices, and provides a messaging capability that can be used to process any disputes that may arise from documents that have been placed on-hold. This greatly reduces calls to your Purchasing and Payables departments. Oracle I Supplier Portal lowers the cost of the invoicing process to create a win-win for you and your suppliers.

Question 13

An employee submits an expense report, but before it is processed the employee is terminated. At which level is the option Processing Days Allowed After Termination configured?

Options: -

A. Employee

B. Business unit

C. Expense template and type set up

D. Project attributes

E. Define expenses configuration

Correct Answer: A

Answer Explanation: NA

Question 14

A company plans to provide access to certain employees with rights to update the cost center information with the expense’s application.

What duty must a user have in order to update cost center information?

Options: -

A. Expense Audit Duty

B. Project expense Allocation Duty

C. Expense Entry Duty

D. Expense Account Allocation Duty

E. Export Duty

 

Correct Answer: D

Answer Explanation:

The Expense Account Allocation Duty allows employees to charge expenses against companies and cost centers that are not their default company or cost center. The Expense Account Allocation Duty role is not allocated to any job roles. If a user needs to cross charge expenses to other companies or cost centers, you can manually grant this duty role to the applicable user by assigning a custom role that contains the Expense Account Allocation Duty role.

Question 15

What are the three modes available to enter expense reports?

Options: -

A. Oracle Fusion Expenses

B. Spreadsheet Integration

C. Oracle Fusion Payments

D. Oracle Fusion Payables

E. Oracle Fusion Projects

Correct Answer: A, D & E

Answer Explanation:

Enter expense reports in any of the following products.

Payables. See: Entering Expense Reports in Payables.

Oracle Web Employees. See: Web Employees Online Help Oracle Projects.

Oracle Personal Time and Expense.

If you enter invoices in Projects or Personal Time and Expense you must also transfer them from Projects to Payables.