Oracle Fusion Financials Certification
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| Oracle Fusion Financials Certification |
4 Types of Oracle Fusion Financials Certifications
Oracle Fusion Financials Payables Certification
Which are the three valid invoice line types ?
Options: -
A. Tax
B. Interest
C. Miscellaneous
D. Charges
E. Freight
Answer: A, C & E
Answer Explanation:
Option A: Tax lines that are either generated automatically or entered manually.
Option C: Miscellaneous Other charges on an invoice, such as installation or service. Miscellaneous charges can be allocated to Item lines.
Option E: Freight charges on an invoice. Freight charges can be allocated to Item lines
Reference; Oracle Fusion Applications Procurement, Payables, Payments, and Cash Guide Invoice Line Types: Explained
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.
Question 3
Where is the Expense Clearing Account and Payment Option set up in Expenses?
Options: -
A. Create or Edit Company Account pop-up menu
B. Payables System Options
C. Edit Expenses Systems Options
D. Business Unit System Options
E. Expense Report template
Answer: A
Answer Explanation:
Expense Clearing Account and Payment Option, which are set up in the Create or Edit Company Account popup. This account holds accounting for corporate card transactions temporarily. The account is cleared when the expense reports containing the corporate card transactions are processed by Oracle Fusion Payables.
Question 4
Choose three actions that can be performed from the Accounts Payables dashboard?
Options: -
A. Export to PDF
B. Export to Excel
C. Reorder Columns
D. Reorder Rows
E. Drill Down
Correct Answer: B, C & E
Answer Explanation: NA
What are the three exceptions in the Payables Period Close Exceptions Report?
Options: -
A. Unapplied Prepayments
B. Unaccounted Invoices
C. Open Intercompany Transactions
D. Open Interface Import Errors
E. Incomplete Payment Process Request
Answer: B, C & E
Answer Explanation:
The types of exceptions reported are as follows:
* (B)Unaccounted invoices
* (C) Open intercompany transactions
* (E) Incomplete payment process requests
* Unaccounted payment activity
* Bills payable requiring maturity event and accounting
* Other exceptions
Question 6
Identify three duty roles that are granted to both the Accounts Payable Supervisor and the Accounts Payable Manager.
Options: -
A. Payables Business Intelligence Management Duty
B. Accounts Payable Period Status Review Duty
C. Payables Balance Analysis Duty
D. Business Intelligence Authoring Duty
E. Disbursement Process Management Duty
F. Accounts Payable Period Status Management Duty
Answer: B, D & E
Answer Explanation: NA
Options: -
A. Supplier Name
B. Legal Entity
C. Supplier Number
D. Ledger
E. Party Name
Correct Answer: D & E
Answer Explanation: Parameters
Ledger
Specify the ledger for which to run the report. You may select a primary or secondary ledger, or a reporting currency ledger.
Note: - You can run the Accounts Payable Trial Balance for primary and secondary ledgers, and for reporting currencies. However, the original invoice amount is only provided when the report is run for the primary ledger. The reason is that Payables only stores transaction base amounts in the primary ledger currency.
Business Unit -Specify the business unit for which to run the report or leave blank to include all business units.
Liability Account As-of Date-Specify the date as of which to report the liability account.
Party Name -Enter a party to limit the report to a single supplier or party.
Account From -Select the accounts.
Negative Balances Only Select Yes to limit the output of the report to suppliers with negative balances. The Payables Trial Balance
Report lists and subtotals, by supplier and liability account, all unpaid and partially paid invoices that Payables has transferred to the general ledger. Credit liability amounts are reported as positive amounts, as they represent outstanding balances. Debit liability amounts decrease the outstanding balance.
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| Oracle Fusion Financials Certification |
Question 8
An invoice is created, paid, and is accounted for. Two adjustments are made to the invoice and validated with the same accounting date.
Which statement is correct?
Options: -
A. A Payment Adjustment Event is created for both adjustments.
B. Only one Payment Adjustment Event is created because the first Payment Adjustment Event has not been accounted.
C. The Payment Adjustment Event created in the first instance will be overwritten by the second.
D. A Payment Adjustment Event is created in the second instance even though the first event had not been accounted.
E. A Payment Adjustment Event is NOT created in both the cases.
Answer: A
Answer Explanation:
Payables creates accounting entries for this event only if the Account for Payment When Payment is Issued option is enabled in the Payables Options window. For payments the accounting date for this event is the payment date. If the payment date is in a closed period, then the GL Date is the first day of the next open period.
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