Oracle Financials Cloud: Payables 2018 Implementation Essentials

QUESTION NO: 1
What are the two advantages of using a spreadsheet for correcting invoice import errors? (Choose two.)

A. ability to correct errors and re-import invoices directly from a spreadsheet B. ability to enter a high volume of invoices via a spreadsheet C. identification of errors with clear error messages at the invoice header and line levels D. identification of errors with clear error messages at the invoice header level only E. ability to correct errors within the spreadsheet and send invoice corrections for approval

Correct Answer: A,C

QUESTION NO: 2
Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run? (Choose two.)

A. Schedule create accounting for the intercompany process. B. Manual Approvals should be allowed for the transaction type. C. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables. D. For the Legal Jurisdiction, Legal function: "Generate intercompany invoice" should be assigned. E. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables. F. Supplier site primary pay flag and customer account bill to primary flag should be enabled.

Correct Answer: C,F

QUESTION NO: 3
An invoice for $200 USD and a credit memo for $225 USD are due for payment and the "Apply credits up to zero amount" option is enabled for the payment process request. Which statement is correct?

A. The payment process request doesn't select the invoice or credit memo for payment because the credit reduces the payment to - $25 USD, which is below zero. B. The payment process request creates a refund for $225 USD and leaves the invoice unpaid. C. The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates a payment for $0 USD. D. The payment process request pays only $200 USD alone.

Correct Answer: C

QUESTION NO: 4
Identify three scenarios where you are not allowed to cancel an invoice. (Choose three.)

A. An accounting entry has been created for the invoice. B. The invoice is validated. C. The invoice was adjusted by a credit or a debit memo. D. Prepayments were applied to the invoice. E. The invoice is fully or partially paid.

Correct Answer: C,D,E

QUESTION NO: 5
XYZ Supplier has third party relationships defined with ABC Supplier and ACME Corporation. However, when reviewing the invoice installments for XYZ Supplier the payables specialist is unable to override the remit-to supplier name and address on the Invoice installments.
What is the reason for this?

A. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Disbursement System Options page for the business unit. B. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Payment Options page for the business unit. C. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Common Options for Payables and Procurement page for the business unit. D. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Invoice Options page for the business unit.

Correct Answer: D

QUESTION NO: 6
You want to route invoices to three different approvers at the same time and only one approver needs to approve the invoice. Which approval ruleset should you use?

A. Invoice Approvers B. InvoiceApproversParallelParticipantInParallelMode C. InvoiceApproversSingleParticipantInParallelMode D. InvoiceApproversFYIParticipantInParallelMode

Correct Answer: C

QUESTION NO: 7
The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action. (Choose two.)

A. The expense report is routed back to the approvers. B. The audit can be completed before the requested information is received from the employee. C. The expense report status remains Pending Payables Approval. D. The employee must resubmit the expense report.

Correct Answer: C,D

QUESTION NO: 8
An invoice for $1,000 USD and a credit memo for ($1,100) USD are due for payment. What are the two outcomes if you chose the "Apply Credits Up to Zero Amount" option when submitting a Payment Process Request? (Choose two.)

A. Both the invoice and the credit memo are included in the Payment Process Request. B. Both the invoice and the credit memo are fully paid. C. Neither the invoice nor the credit memo is included in the Payment Process Request. D. Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.

Correct Answer: A,D

QUESTION NO: 9
When submitting the Payables to General Ledger Reconciliation report, the extract did not select any data.
What should you check?

A. Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values. B. Make sure you specified a Business Unit in the parameters when running the extract. C. Make sure you assign an Account parameter when running the extract to include liability accounts. D. Make sure you enabled the Reconciliation flag to all of your liability natural account values.

Correct Answer: A

QUESTION NO: 10
Before you can configure payment approval rules, your company must define a payment approval policy.
Which three are done by the payment approval policy? (Choose three.)

A. It defines when to initiate the payment approval process. B. It allows approvers to review payments and decide whether or not to approve a payment. C. It determines which payments must go through the payment approval process. D. It defines a list of approvers who review payments and make final payment decisions. E. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.

Correct Answer: A,D,E

Oracle Financials Cloud: Payables 2018 Implementation Essentials - 1Z1-1005 Exam Questions