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

Question 25

Which two invoice actions are NOT allowed if prepayments have been applied to an invoice?

Options: -

A. Cancel an invoice.

B. Reverse an invoice distribution.

C. Modify an invoice distribution.

D. Add an invoice line.

E. Modify the accounting information.

Correct Answer: A & C

Answer Explanation:

Option A: 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.

Option C: When you apply a prepayment, in addition to updating fields in the Apply/Unapply Prepayments window, Payables updates the following fields. For Quick Invoices and Expense Reports, these values appear after import:

* For the invoice: Invoice Workbench: Prepaid Amount; Status is updated to reflect that the invoice has been paid or partially paid Distributions window: Prepayment Number; Prepayment Distribution

* For the prepayment:

Invoice Workbench: If you have applied all Item distributions, the invoice Status will change from Available to Fully Applied

Distributions window: Prepay Amt Remaining

Note: * You can enter only one Item type distribution for each prepayment.

* You cannot apply prepayments to standard invoices when there are no item distributions or item lines without a valid distribution set.

Question 26

What is the validation status of an invoice after it is loaded using the Launch Import Invoice program?

Options: -

A. Validated

B. Never validated

C. Needs revalidation

D. Not required

E. Revalidated

Correct Answer: B

 

Question 27

What are the two Online Accounting options available in Oracle Fusion Payables?

Options: -

A. Account in Final

B. Account in Draft

C. Account in Final and Transfer to Ledger

D. Account in Draft and Transfer to Ledger

E. Account and Post to Ledger

 

Correct Answer: A & B

Answer Explanation: Final will create journal entries, which can be transferred to GL. Draft will create journal entries, which are not final, which means they are not ready to be transferred to GL.

Question 28

Which two actions that can be performed from the Invoices to Pay region of a Single Payment Request ?

Options: -

A. Change Due Date

B. Assign Conversion Rate

C. Export to Excel

D. Search Invoices: Available for Payment

E. Select and Add: Invoices to Pay

Correct Answer: A & D

Answer Explanation: Note: Payment Process Request. A payment request that contains identifying information, optional payment instructions, the list of invoices to pay, and the amounts that should be paid on each invoice.