Oracle Financials Cloud: Payables 2017 Implementation Essentials

QUESTION NO: 1
You want to have an invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage.
Select two methods to achieve this. (Choose two.)

A. Enter the invoice in Payables and then use general ledger's Calculation Manager to allocate the costs. B. Define a distribution set and assign it manually to the invoice. C. Define a distribution set and assign it to the supplier. D. Customize the Subledger Accounting rules to allocate costs.

Correct Answer: B,D

QUESTION NO: 2
When creating a check payment, from where is the payment document defaulted?

A. Business Unit B. Supplier C. Legal Entity D. Bank E. Back Account

Correct Answer: D

QUESTION NO: 3
If you accidentally paid an invoice using Create Payment flow, can you undo the operation?

A. yes, by voiding the payment created B. yes, by canceling the payment process from the process monitor C. no D. Cancel the invoice and create a new one. E. yes, by creating a credit memo to offset the payment

Correct Answer: A

QUESTION NO: 4
The payment build program has completed but with errors.
When submitting the payment process request, which processing option is used to review the error messages from the Manage Payment Process Request Inquiry?

A. Set the validation failure handling for payments to "stop process for review". B. Set the validation failure handling for payments to "show errors". C. Set the validation failure handling for documents to "show errors". D. Enable debug for the payment format program.

Correct Answer: A

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

QUESTION NO: 5
Select three reasons why you cannot close your Payables period. (Choose three.)

A. unaccounted invoices and payments B. bills payable requiring maturity C. suppliers on payment holds D. unapplied prepayments E. open intercompany transactions

Correct Answer: A,B,C

QUESTION NO: 6
Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?

A. Payables Trial Balance and General Ledger Trial Balance reports B. Payables Aging reports with the General Ledger Trial Balance report C. Payables to Ledger Reconciliation report D. General Ledger Financial Statements and the Accounts Payable and Invoice Registers

Correct Answer: C

QUESTION NO: 7
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: 8
After you submitted a Payment Process Request, you noticed errors. You want to void the payments.
Identify two statements that indicate when it is not possible to void a payment. (Choose two.)

A. A payment that pays a prepayment that has been applied to an invoice. B. A payment that has already cleared the bank. C. A payment for an invoice with an associated Withholding Tax invoice. D. A payment with the status of Issued. E. A payment that has been accounted and posted to General Ledger.

Correct Answer: A,B

QUESTION NO: 9
What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2016 if the invoices with a Hold status have an invoice date of January 20, 2016?

A. The accounting dates of all unaccounted invoices will change to February 28, 2016, the last day of the next period. B. The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2016. C. The accounting dates of all unaccounted invoices will be changed to February 1, 2016, the first day of the next period. D. The accounting dates of all unaccounted invoices will be changed to February 20, 2016, the same day of the next period.

Correct Answer: A

Oracle Financials Cloud: Payables 2017 Implementation Essentials - 1z1-961 Exam Questions