During the invoice Import process, the implication assigns the accounting date from the first 5 finds. Which three sources will the application check for the accounting date?
Options: -
A. Invoice Line record
B. Invoice Distribution record
C. Invoice Header record
D. Purchase Order Header
E. Accounting Date parameter from the import submission
Correct Answer: B, C & E
Answer Explanation : Option B: Each invoice distribution line has its own accounting date.
Option C: When your account for an invoice, your Oracle Payables
application creates accounting events, accounting entry headers and accounting
entry lines for those distribution lines that have accounting dates included in
the selected accounting date range for the Payables Accounting Process.
Question 37
What are the three benefits derived by a Payables Manager
when implementing Oracle fusion Payables?
Options: -
A. Simplified and expeditious reporting
B. Fulfilling of demands for local compliance
C. Streamlining reconciliation to the general lodger
D. Improvement in processing speed and manageability
E. Streamlining accounting policy changes
Correct Answer: A, C & D
Answer Explanation:
Note:
* A Payables Manager typically has to run multiple reports (A) or queries to identify invoice hold and approval issues and access multiple screens to resolve problems. Oracle Fusion Payables provides a Payables Manager Dashboard that pushes exceptions that occurred from automated invoice and payment processing, such as missing exchange rates on a foreign currency invoice or issues with the payment information. It also tracks the status of supplier invoices, such as invoices requiring approval, invoices on hold, suppliers on hold, and more--all from a consolidated page. The Payables Manager can then take action directly from the dashboard to resolve issues.
* The Payables Manager Dashboard alerts you to exceptions,
like missing exchange rates that occur during automated invoice and payment
processing. It also tracks the status of supplier invoices and identifies which
invoices require approval, as well as which invoices and payments are on hold
and more.
Question 38
What are the three advantages of using the Spreadsheet for
Import Error Correction feature?
Options: -
A. Identification of errors with clear messages at the
invoice header and line level that failed to import
B. Identification of errors with clear messages at invoice
header only that failed to import
C. Correction of errors and reimporting invoices directly
from spreadsheet
D. Correction of errors in the spreadsheet and loading but
reimporting cannot be done from spreadsheet.
E. Viewing invoice header and lines in the same view.
Answer: A, C & E.
Answer Explanation:
The ledger and subledger transactions are captured in four ways: entering journals manually, entering journals in spreadsheets, importing journals, and creating journals automatically.
Enter manual and recurring journal entries through a spreadsheet interface. Load the completed spreadsheet into the import interface. Schedule or manually submit the Journal Import program to import the data into the ledger. Working in spreadsheets adds functionality such as the use of macros, formulas, and links to existing documents. Spreadsheets are created as templates for recurring entries and then each month, simply update the data and upload.
* The transaction data entered in both Oracle Fusion and legacy system subledgers is imported into the General Ledger Interface table. Errors during the import process are available in a spreadsheet interface.
After correcting the errors or deleting the error lines, run
the Journal Import process again.
A company has a business requirement that all invoices go through an approval process flow. Identify three features of the Invoice Approval workflow that meets their requirement.
Options: -
A. allows automatic resubmission of an invoice if rejection
occurs.
B. has predefined criteria to identify which invoices require
approval.
C. provides automatic routing of invoices upon approval to
another designated approver.
D. allows for corrections to invoices to be made while still
in the approval routing process.
E. provides Lime limits as to how long an invoice can remain
unapproved before being automatically
rerouted to the next approver.
Answer: A, B & C
Answer Explanation:
Option A: If an approver rejects an invoice or invoice line,
you can perform one of the following actions:
* Use the Force Approval option to manually approve the
invoice.
* Use the Initiate Approval option to resubmit the invoice
to the Invoice Approval Workflow after correcting any issue that caused the
approver to reject the invoice.
* Use the Cancel Invoice option to cancel the approval process.
Option B, C: The Invoice Approval Workflow automates your
invoice approval process. Based on rules you define, the workflow determines if
an entire invoice (document) or invoice lines need approval, who the approvers are,
and in what order approvers should approve payment of the invoice.
If you use Invoice Approval Workflow, then every invoice and invoice line that require approval must be approved before you can pay it. Payables indicates that an invoice requires approval by setting the value in the Approval status field in the Invoices window to Required. The approval status is derived from the approval status of the document maintained at the invoice header and the approval status of the invoice lines.
Which are the three scenarios NOT allowed to cancel an invoice ?
Options: -
A. The invoice is fully or partially paid.
B. The invoice is validated.
C. The invoice was adjusted by a credit or debit memo.
D. Prepayments were applied to the invoice.
E. An accounting entry has been created for the invoice.
Correct Answer: A, C & D
Answer Explanation:
Option A: You can cancel only unpaid invoices.
Option D: 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.
Note: 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.
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