[Free] 2018(Jan) EnsurePass Dumpsleader Oracle 1z0-335 Dumps with VCE and PDF 31-40

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Oracle Financials Cloud: Receivables 2016 Implementation Essentials

Question No: 31

You have entered invoices using the Autoinvoicing Feature. How can you review the

records that are in error?

  1. Click the View Autoinvoice Lines link to open a workbook wild the specific error record.

  2. Click the Manage Autoinvoice Lines link to open a workbook with the specific error record.

  3. Click the Number of Errors link in the Autoinvoice error region to open a workbook with the specific error record.

  4. Click the View Error Details link in the Autoinvoice errr region to open a workbook with the specific: error record.

Answer: C

Reference: Fusion Applications help, Correcting AutoInvoice Errors: Explained

Question No: 32

Which are three functions of the Create Automatic Receipts Write-Off program?

  1. Scheduling periodic write-offs as receipt adjustments for small remaining balances.

  2. Scheduling periodic write-offs as receipt adjustments for old remaining balances.

  3. Scheduling periodic write-offs to occur in future periods.

  4. Limiting write-offs by a percentage of the Original receipt amount.

  5. Creating write-offs for specific currencies and customers.

Answer: A,D,E Explanation:

You can use the Create Automatic Receipt Write-offs program to:

Schedule periodic write-offs as receipt adjustments for small remaining balances.

Limit write-offs by a percentage of the original receipt amount and by the policy of your enterprise.

Create write-offs for specific currencies and customers.

Use the Create Automatic Receipt Write-offs program to automatically write off receipts. You can only use this program to write off overpayment amounts.

Reference: Oracle Fusion Applications Order Fulfillment, Receivables, Payments, Cash,

and Collections Guide, Automatic Write-offs

Question No: 33

Which two statements are true when you are using the intercompany reconciliation process?

  1. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.

  2. The ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.

  3. The clearing company balancing lines appear in the intercompany reconciliation.

  4. You need to submit the Extract Intercompany Reconciliation Data job.

  5. The Transaction Summary Report shows only transactions with a status of received.

Answer: A,E

Question No: 34

What are the three steps required to implement the Lockbox feature?

  1. Set up Receipt Sources.

  2. Set up Receipt Classes and Receipt Methods.

  3. Set up Lockbox and Lockbox Transmission Formats.

  4. Set up late charges.

  5. Set up credit card refunds.

Answer: A,C,E

Explanation: A: You only use receipt sources with receipt and remittance batches. This includes automatic receipt batches, lockbox receipts, and receipts created via spreadsheet.

C: Enter the lockbox transmission field types to use to identify the characteristics of each lockbox transmission record type.

You specify the size, order, and format of each transmission record. The lockbox transmission program only validates the fields that you define in your transmission format.

The transmission format must be fully compatible with how you organize data in your lockbox file.

E: Use an application exception rule set to manage remaining amounts after lockbox processing.

After lockbox processes and applies receipts, the AutoApply process uses the application exception rule set to determine how to manage over and under payments:

If there is an overpayment, the application exception rule indicates whether to refund the amount to the customer, place the amount on account, write off the amount, or leave the amount unapplied.

If there is an underpayment, the application exception rule indicates whether to allow write off of the remaining open balance amount on the transaction.

Note: Use lockbox to create receipts in Oracle Fusion Receivables from data supplied by your remittance bank and apply receipts to customer transactions.

The lockbox process has three steps:

Import Data: Lockbox reads and formats the data from your bank file into the interim table using an SQL*Loader script.

Validate Data: Receivables validates the data in the interim table for compatibility, then transfers the data to the receipts tables.

Post Receipts: Apply receipts and update customer balances.

Reference: Fusion Applications help, Lockbox Transmission Format Field Types

Question No: 35

Select the valid setup that creates the revenue account distribution in the case of a debit memo reversal.

  1. Auto Accounting Rule for revenue line type

  2. Revenue Account Specified in Debit Memo transaction type

  3. Cash account on the receipt

  4. Revenue account of the original transaction to which the receipt is applied

Answer: C

Reference: Debit Memo Reversals: Points to Consider, Accounting for Debit Memo Reversals

Question No: 36

To meet the business needs of most organizations, “Common Set” is seeded InFusion for all Set-enabled objects with the exception of

  1. Customer Site

  2. Revenue Scheduling Rules.

  3. Aging Method

  4. AutoCash Rules

  5. AutoMatch Rule Set.

Answer: E

Question No: 37

You need to make decisions about how an application should behave, such as date ranges and defaults. What should you consider before defining Collections Preferences?

  1. Scheduled processes

  2. system privileges

  3. User application privileges

  4. customer contact Information

  5. the employees who are Involved with the collections process and how the collectors will be assigned

Answer: E Explanation:


Question No: 38

Select the valid reason for a Collector being UNABLE to enter a dispute against a particular transaction.

  1. The transaction date falls in a closed period.

  2. The transaction balance is zero.

  3. The transaction type is NOT associated to a credit memo type.

  4. The transaction is partially paid.

Answer: C Explanation: Note:

  • If your customer disagrees about the outstanding balance for an item, you can mark that item or a specific amount due as #39;in dispute.#39;

  • . If the dispute is approved, the appropriate credit memo is created automatically.

  • Question No: 39

    In a scenario receipts are factored receipt class that requires confirmation, remittance, and clearance. Select the valid accounting entry that would be generated when receipts are cleared.

    1. The Cash and Bank charges accounts are debited and the Short term debt account is credited

    2. The Cash and Bank charges accounts are debited and the Factoring account is credited

    3. The Short term debt account is debited and the Factoring account is credited.

    4. The Factoring account is debited and the Short term debt account is credited.

    Answer: C Explanation:


    The receipt class you assign to each of your receipt methods determines the processing steps that Receivables requires for receipts that you create using this receipt method.

    These steps include whether to require confirmation, remittance, and bank clearance for

    receipts that you create with a specific receipt class.

    Question No: 40

    The Receipt Remittances Region on the Receivable Balances Work Area has tabs containing Information on receipts. What are two tabs in the Receipt Remittance Region?

    1. Unapplied Receipts

    2. Pending Approval

    3. Pending Clearance

    4. Pending Confirmation

    5. On Account Receipts

    Answer: B,C

    Reference: Fusion Applications Help, Oracle Fusion Receivables: Overview

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