|What is a benefit of the secondary tracking segment? Additional security ensures that correct accounts are selected while entering transactions. The Management segment is enabled automatically when the secondary segment is defined. More details are provided to retained earnings, cumulative translation adjustments, and
revaluation gains/losses accounts.
Select two actions that ledger sets permit. (Choose two.) performing variance inquiries being used for mass budgets sending budget balance inquiries viewing account balances for multiple ledgers in one view grouping multiple ledgers that share the same chart of accounts and calendar.
Select three activities that must be performed to complete the setup of the key accounting flexfield. (Choose three.) Create aliases. Define a value set. Define security rules. Define an account structure. Define valid segment values. Create account combinations.
Isa Global Inc. is based in the United States with divisions in Europe and Asia. All journal imports, recurring journals, mass allocations, and manual journal entries have been posted for their European subsidiary. What is the next logical step in the period-close process? opening the next period closing the current period revaluing foreign currency balances translating to the functional currency consolidating to the parent set of books.
Which two statements are true about the reporting currency in Oracle General Ledger? (Choosetwo.) It is an integrated extension of a ledger It replaces multiple reporting currencies Reporting currencies are the same as secondary ledgers. Reporting currencies cannot have the same chart of accounts, accounting method, and ledger processing options.
Which three activities would use summary accounts? (Choose three.) creating a monthly recurring standard journal entry to amortize goodwill allocating the total monthly costs of the Information Services department to other departments estimating a sales commission accrual based on the total of all product sales for each division formulating a budget for employee benefits in each company based on the total of all budgeted employee salaries.
The companys two senior executives have different budget figures. They want Peter, the GL
accountant, to prepare two current budgets in Oracle Financials and submit budgets to both of
them. What would be your response? It is not possible to have more than one current budget. Whether you can have multiple current budgets depends on the budget organization. The Require Budget Journal profile option must be set at the budget level if you want to have multiple current budgets. The Require Budget Journal profile option must be set at the set of books level if you want to have multiple current budgets. The Oracle General Ledger budget functionality supports multiple current budgets, so there is no problem in satisfying this requirement.
Identify the four setup options that control supplier defaults. (Choose four.) financial options payables options receiving options purchasing options Payables system setup Trading Community Architecture (TCA).
Identify three ways that an invoice can be submitted for validation. (Choose three.) online by clicking the Validate button in the Invoice Batches window online by clicking the Validate and Account button in the Invoice Batches window in batch by submitting the Payables Invoice Validation program from the Invoice Workbench in batch by submitting the Payables Invoice Validation program from the Submit Request
window online by selecting either the Validate check box or the Validate Related Invoices check box in the Invoice Actions window.
You are working on an implementation for Accounts Payable for ABC Inc. Your client has three
1. They want to be able to pay only certain types of suppliers by batch.
2. Each payment batch must be under $100,000 USD, or the batch automatically gets canceled
without user intervention.
3. Each single payment for a supplier site must be between $10 USD and $10,000 USD, or the
payment is automatically not issued.
To meet the above requirements, you perform these steps:
a) Set up suppliers with pay groups for each type, and use them when running the payment batch.
b) Set up the payment batch with Maximum Outlay equal to $100,000 USD.
c) Set up the payment batch with Maximum/Minimum payments as $10 USD and $10,000 USD.
Which requirements have you met? 2 and 3 1, 2 and 3 1 and 2 1 and 3.
Payables lists four seeded payment methods. They are check, outsourced check, electronic, and wire. Choose the correct description for wire. a paper check to print and send to a supplier an EFT, EDI, or XML to the bank of a supplier a funds transfer initiated by contacting the bank and requesting wire payment to the bank of a supplier transmission of payment information to an external party, such as your bank, that prints checks on your behalf.
With Oracle Cash Management, you can reconcile payments created in Payables to your bank
statements. When you reconcile payments using Oracle Cash Management, Cash Management updates the status of payments. Select the new status issued updated negotiable reconciled.
Which event reverses an accrual for an item set to accrue on receipt? paying an invoice delivering goods to a final destination running the Receipt Accruals - Period-end process matching an invoice in Payables to a purchase order.
Identify three setup options that are defined in the Financial Options window. (Choose three.) interest retainage miscellaneous expenses clearing expense AP accrual account.
Select two actions available in Oracle General Ledger. (Choose two.) deleting posted journals exporting data to subsidiary ledgers importing data from subsidiary ledgers consolidating balances in subsidiary ledgers consolidating balances from multiple ledgers.
Which module of Oracle E-Business Suite Release 12 sends revaluation and accrual entries to General Ledger? Oracle Assets Oracle Projects Oracle Treasury Oracle Receivables Oracle Property Manager.
Identify the different types of data that can be processed using the GL Interface. (Choose three.) rates budget vendors statistical intercompany currency codes.
Choose the reason why Tina is unable to view the subledger entries from Oracle Payables in the Oracle General Ledger module. She has run the transfer program that completes successfully. Journal Import is not submitted The Journal source is not defined The Journal category is not defined Payables is not integrated with General Ledger.
ABC Corporation has five companies, which operate in different industries. Each company has a different ledger-processing option that is industry specific. Choose the number of primary ledgers that are required to be defined. five four two one three.
Choose three tables that will be populated when the Journal Import process is run with the option to post set as "Yes." (Choose three.) GL_JE_LINES GL_JE_BATCHES GL_JE_HEADERS GL_JE_SOURCES GL_IMPORT_REFERENCES.
Select three levels where additional reporting currency representations can be maintained.
(Choose three.) batch journal balance subledger.
You are implementing Oracle General Ledger at a client site. The client is based in the US, but
they have a global presence in many countries and transactions in multiple currencies. The
implementation team decides that the Oracle General Ledger multi-currency setup will be a part of the implementation. The client's Chief Financial Officer wants a system that has these features:
1. Enter transactions and reports in any currency.
2. Enter exchange rates online or automatically.
3. Calculate realized and unrealized gains and losses. IV. Translate actual and budget balances.
4. Produce foreign currency financial statements and reports.
Which requirements can be satisfied with the implementation? 1, 2, and 3 only 1, 2, 3, and 4 only 1, 2, 4, and 5 only All requirements from 1 through 5 can be satisfied.
Identify three statements that are correct for the multi-currency functionality of Oracle General
Ledger. (Choose three.) Enter transactions and reports in any currency. Enter exchange rates online and automatically. Translate only actual but not budgeted balances Translate only budgeted but not actual balances Use daily, period end, average, and historical rates.
Which three are the benefits of the Currency Rates Manager in Oracle General Ledger? (Choose three.) You can maintain daily rates and historical rates more easily. You get improved efficiency with the help of the spreadsheet interface You can maintain consistency among different currency conversion rates. Additional security ensures that historical rates can be uploaded to closed or future periods
only. You can maximize intercompany imbalances during intercompany eliminations of foreign
currency transactions that are due to exchange rate differences.
John, the rates manager at ABC Company in the USA, is in charge of maintaining currency rates for the entire company. John had defined the rates for GBP to USD and GBP to Indian Rupee (INR) only. Sam, the company accountant, is worried that he would not be able to execute transactions involving USD and INR currencies. What does John say to help Sam? Currency Rates Manager automatically converts all transactions entered in INR to USD. Currency Rates Manager automatically converts all transactions entered in INR to GBP first and then to USD. Currency Rates Manager automatically performs the calculation between USD and INR on the basis of cross-rate rules Sam must manually define the USD to INR rates first, to be able to enter transactions involving USD and INR currency Sam must manually define the INR to USD rates first, to be able to enter transactions involving USD and INR currency.
You are implementing Oracle General Ledger (GL) at a client site. The client is based in the US, but they have a presence in many countries and transactions in multiple currencies. The
implementation team decides that the GL multi-currency setup will be a part of the implementation.
John, a junior consultant helping you in the implementation effort, tells you that he is testing the
system and entering journals in USD, Yen, and Euros. He says that he is able to enter journals in USD and Euros, but not in Japanese Yen. What possible explanation can you provide to John for this? Yen has not been enabled Rate types have not been defined for Yen. Daily rates have not been entered for Yen. Workflow must be customized for journals to be entered in Yen.
Scott, the CFO at ABC Company in the USA, wants to present the annual income statement to the board of directors of the company. ABC Company engages in many exports and import activities and follows the policy to revalue all its transactions in foreign currency with the current market rates. Scott requests George, the head accountant of the company, to revalue all foreign currency transactions done during the year. Select two prerequisites that George must comply with to ensure that the revaluation is done as desired. (Choose two.) Define accounts for realized gains and realized losses. Define accounts for unrealized gains and unrealized losses Define the weights for each currency used for doing transactions Define a batch under which the revaluation journals would be stored. Define a revaluation rate for each currency for each period or date for which the revaluation must be run.
You are implementing Oracle General Ledger at a client site. The client is based in the US, but
they have a presence in many countries and transactions in multiple currencies.
The implementation team decides that the GL multi-currency setup will be a part of the
implementation. The company's management in the US wants to see all transactions in USD,
whereas the management in Europe wants to see the transactions in Euros. The CFO has this
While entering daily transactions, the user must be able to enter the current exchange rate. But at month end, the assets and liabilities in Euros must be converted into USD at the monthly average exchange rate. Can this requirement be satisfied? Oracle GL does not support this functionality. Workflow must be customized to satisfy this requirement. The account generator must be customized to satisfy this requirement Oracle GL provides this functionality and there is no problem in satisfying the requirement.
ABC Company in India imports baking equipment from XYZ Company in the USA. There is an outstanding invoice of $1,000,000 to be paid in two months. The USD-to-INR rate when the
transaction was done was 47.5. Now the USD-to-INR rate has changed from 47.5 to 40.5. Jack, who is a treasury analyst at ABC Company, reviews the transactions and comes to a conclusion.
Select two correct conclusions arrived upon by Jack. (Choose two.) XYZ Company is not impacted at all by this rate change XYZ Company has a positive impact by this rate change ABC Company is not impacted at all by this rate change. ABC Company has a positive impact by this rate change.
Select two statements that are correct for the secondary tracking segment. (Choose two.) .
Only the natural account segment or the balancing segment can be specified as the secondary tracking segment. .
Any segment that is specified as the secondary tracking segment also must be specified as the management segment .
Any segment, except the natural account segment or the balancing segment, can be specified as the secondary tracking segment. .
This segment will be paired with the balancing segment when generating account balances for retained earnings account, unrealized gains or losses account, and the cumulative translation adjustment account. .
This segment will be paired with the natural account segment when generating account
balances for retained earnings account, unrealized gains or losses account, and the cumulative translation adjustment account.
Identify four consolidation tools. (Choose four.) Interface Data Transformer Global Consolidation System Global Intercompany System Financial Statement Generator Applications Desktop Integrator.
Identify two correct statements about the consolidation feature of Oracle General Ledger. (Choose two.) Both budget and actual balances can be consolidated. Consolidation is possible only when the subsidiaries use multiple Oracle application instances. You can consolidate balances only when there are separate ledgers for different companies You can maintain multiple companies with similar or different accounting structures and
consolidate their results for meaningful financial reporting.
ABC Company in the United Kingdom has three subsidiaries in three different countries. It
consolidates the accounts of all subsidiaries and the headquarters by using the average balances.
John is new to Oracle General Ledger. He has just joined ABC Company. He needs to consolidate for the current month. On completion of the consolidation, John was not able to tally the consolidated figures with the ledgers. Select two reasons why John failed to see the correct
balances. (Choose two.) Posting of the consolidation journals may have failed. He forgot to add the prior periods consolidation in the current period Manual adjustment needed after every consolidation was not performed John may not have reversed the prior periods consolidation in the current period.
Select two restrictions that apply to consolidating budget balances. (Choose two.) If the source and target budgets share the same calendar, you must consolidate a specific
period to a specific period. If the source and target budgets share the same start period, you must consolidate a specific period to a specific period If the source and target budgets do not share the same ledger, you must consolidate a specific period to a specific period If the source and target budgets do not share the same calendar, you must consolidate a
specific period to a specific period. If the source and target budgets do not share the same start period, you must consolidate a
specific period to a specific period.
Select three statements that apply to the Global Consolidation System (GCS). (Choose three.) It consolidates data from the legacy feeder system. This system creates consolidated journal entries in both the parent and subsidiary sets of
books. GCS automatically generates journal entries to eliminate intercompany balances based on
defined rules. It performs multidimensional analysis of consolidated financial data by using Oracle Enterprise Planning and Budgeting.
Select three statuses of the consolidation workbench. (Choose three.) posted entered exported reversed transferred.
Select three statements that apply to Interface Data Transformer (IDT). (Choose three.) It ensures reapplication of the same rules each time you transfer IDT provides greater flexibility by performing no validation on the imported data User-defined conditions enable you to control when transformation rules must be applied. IDT provides automatic data conversion that converts disparate data formats into an Oracle format. It makes exporting of data from Oracle General Ledger into external feeder systems much
easier and less time consuming.
Flavour Inc. in the United Kingdom has a subsidiary in India known as Spices Inc. Flavour Inc. has a four-segment chart of accounts, whereas Spices Inc. has a five-segment chart of accounts.
Select three statements that apply to consolidating ledgers with different charts of accounts.
(Choose three.) Only one action can be defined per parent segment Consolidations based on account rules process faster. Consolidations based on segment rules process faster Segment rules override account rules if there is any conflict A segment rule action must be defined for each segment in the parent chart of accounts.
Identify the three actions that you can perform using the consolidation workbench. (Choose three.) Access the state controller. Change the chart of accounts. Create consolidations sets, which launch multiple consolidations in a single step. Create multi-level hierarchies, which you can view using the graphical consolidation hierarchy viewer.
Which item cannot be queried in the Find Consolidation Process window? balance type parent period mapping sets parent calendar elimination sets.
Which three statements are true about the revaluation process? (Choose three.) You must post the revaluation journal entries. The revaluation process must be executed after the translation process has completed This process revalues the foreign currency portion of the account balances by using the
revaluation rate defined in the period rates table Revaluation calculates the differences between the current cumulative functional currency
balance of the foreign transactions and the revalued functional currency balance calculated by using the revaluation rate.
Which two statements correctly describe the translation process? (Choose two.) You can rerun the translation process more than once per period. With the translation process, you can translate only year-to-date amounts. If you rerun the translation process, it adds more data to the previous translated amounts Translation for a subsidiary can be initiated from the parent by clicking the state controller
Which two are true about elimination? (Choose two.) You can define balancing options for eliminating entries You can define an elimination set to contain one elimination entry Currency is an optional component when defining an elimination set. You must specify an elimination company in the Elimination Sets window.
All manual journal entries are defaulting to a non-current period. Which step was omitted from the accounting cycle? updating the period posting journal entries consolidating financials reversing journal entries translating foreign balances.
Select the correct sequence of tasks required for period closing in Oracle General Ledger
1. Verify that all journals are posted.
2. Close the period of each subledger.
3. Run the Trial Balance report and other month-end reports.
4. Close the period and open the next period.
5. Perform reconciliation of subsidiary ledgers.
6. Transfer and import data from all subledgers. 6, 5, 2, 1, 4, 3 3, 2, 1, 6, 4, 5 6, 5, 1, 3, 2, 4 6, 5, 2, 1, 3, 4 6, 2, 3, 1, 5, 4.
Your manager has asked you to create a period close process that maximizes the efficiency of
your two staff members and minimizes the number of closing days. Identify two sets of subledgers that can be closed concurrently. (Choose two.) Payables and Assets Projects and Payables Inventory and Receivables Payables and Receivables Order Management and Projects.
Which four attributes are validated during the Journal Import process? (Choose four.) period approval level balanced journal cross-validation rule account combination journal sequence number.
You have a new employee in the buying department. She set up a number of item numbers and
chose not to flag them for invoicing. Several transactions have been completed in Order
Management by using these new item numbers. What effect would this event have on the
Receivables closing process? The transactions would be flagged as exceptions The transactions would be deleted from the system. The transactions would prevent Receivables from being closed The transactions would prevent Order Management from being closed.
Identify two types of inquiries that are possible on ledger sets. (Choose two.) variance inquiry summary template and summary account inquiries a budget balance inquiry to view the budgeted figures an account inquiry on ledger sets to view actual accounts balances across multiple ledgers that are assigned to a ledger set an account inquiry on ledger sets to view encumbrance account balances across multiple
ledgers that are assigned to a ledger set.
Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances? Natural accounts were defined as parent values. Natural accounts were defined to not allow posting Natural accounts were defined with an incorrect account type. Natural accounts were defined to store both statistical and monetary values.
Identify the three reports that can be processed using the State Controller window. (Choose
three.) Consolidation Audit Consolidations Journal Consolidation Financial Consolidation Exceptions Consolidation Balance Inquiry.
Your client is closing its first period. The client completed the accounting cycle for each of the
subsidiary books. Its staff has called you to troubleshoot its process because the consolidation did not produce any data. Select two steps that you would perform to identify the error. (Choose two.) Review the workflow process. Evaluate the mapping settings. Review the GL_Interface tables Confirm the account hierarchy setups Run the period close by using a different amount type.
ABC Company wants to compare consolidated actuals against consolidated budgeted amounts.
Identify the two steps that must be performed to provide ABC Company with this information.
(Choose two.) Run the Trial Balance report. Execute an online budget inquiry Execute an online account inquiry Review the Account Analysis report Run financial statement generator reports.
Identify what three considerations must be executed before creating a report by using the financial statement generator. (Choose three.) Download Web ADI. Create the database link Determine the data to be reported. Define attributes for rows and columns. Decide which rows and columns will make up the report.
Which two actions would you perform by using the column set builder function? (Choose two.) assigning accounts creating the format mask defining calculations in the new column sorting rows based on values in a column.
Select two steps that are NOT elements of creating a Financial Statement Generator (FSG) report in Oracle General Ledger (Choose two.) Attach the fiscal calendar Define rows and columns. Build a report by using rows and columns Specify the default ledger for ledger sets Determine which rows and columns make up your report.
Treeline Company is getting ready to complete its month-end process. It needs to create a profit-and- loss statement and wants to use the Financial Statement Generator feature to create the report. Which two elements are required to create the report? (Choose two.) row set report set workbook column set content set.
In the course of implementing Oracle General Ledger, you and your customer have created a
number of Financial Statement Generator reports in a test environment. These reports have been tested and you are now ready to create them in your production environment. You are ready to run the FSG Transfer program. What two requirements are necessary to run this program? (Choose two.) Database links must be defined The same ledgers must be defined in both instances. Enable the FSG: AutoCopy profile option in the production environment The same row and column sets must exist in the production environment.
XYZ Corporation has five segments in its accounting flexfield. For a special profit-and-loss report, they want to sort by the fourth segment, which is "product." Select the element that would meet this need row set row order content set column set.
Identify two true statements about using column sets in an FSG report. (Choose two.) Formats can be set for each column. Accounts cannot be assigned to a column set. Calculations can be performed by using columns The seeded column sets provided must be used.
Which report would provide information about the processing type (parallel or sequential) that may be defined for reports? FSG Report Detail Listing FSG Report Summary Listing FSG Row Set Summary Listing FSG Content Set Summary Listing.
During a pilot run of Financial Statement Generator reports, the report output displayed credit
amounts as negative numbers. The customer requires the credit amounts on the reports to be
positive instead of negative. Identify the solution that must be implemented to meet the customer's requirements Inform the customer that this requirement would require a customization. Select the change sign check box for the related row or column definition Deselect the change sign check box for the related row or column definition Create a journal by doubling the values wherever the report is displaying negative numbers.
You have been hired to implement Oracle General Ledger at XYZ Company. They want to have
four legal entities to support operations in the US (East), the US (West), the UK, and France. The chart of accounts and accounting calendar are similar for all entities except France. Only the UK operations want to enable average balances and journal approvals. What would be the minimum number of setups needed to meet this need? four two one three.
Choose the maximum number of secondary ledgers that can be assigned to a primary ledger. unlimited two per primary ledger one per primary ledger one per primary ledger with a reporting currency.
John has created two ledgers: one primary and one secondary. The primary ledger stores
transactional data and the secondary ledger stores only adjustments. The secondary ledger
shares the same chart of accounts, accounting calendar or period-type combination, and currency as the associated primary ledger. John wants to obtain a complete accounting representation that includes both transactional data and adjustments while running reports. Identify the best option Merge the primary ledger and the secondary ledger, and run reports Transfer adjustment data from the secondary ledger to the primary ledger while running reports. Transfer transactional data from the primary ledger to the secondary ledger while running
reports Use ledger sets to combine the adjustments-only secondary ledger with the primary ledger
when running reports.
ABC Enterprise has operations in the US and its headquarters in the UK. They share the same
chart of accounts, accounting calendar, accounting method, and ledger-processing options. UK
management requires reporting on receivables from its US operations in GBP each month. Identify the best option for the US operations to report to their parent Create an account-level reporting currency Create a subledger-level reporting currency Create a journal-level reporting currency for every transaction. Create a balance-level reporting currency and run general ledger translation.
ABC Enterprise has operations in the US, France, and Italy. The US, France, and Italy operations have separate legal and statutory requirements. The tax requirements also differ for each country.
Identify the action you would perform to set up Oracle General Ledger. Create a separate legal entity and accounting setup for each operation Create one legal entity and three accounting setups for the US, France, and Italy Create three legal entities for the US, France, and Italy, and one accounting setup Create three legal entities for each operation. Create one accounting setup for France and Italy, and one for the US. Create two legal entities: one for France and Italy, and one for the US. Create two accounting setups: one for France and Italy, and one for the US.
XYZ Company is implementing Oracle at its headquarters in the US. It has operations in Australia, the UK, and China. The Australian and the US operations can share the same chart of accounts segments, and the UK and China operations can share the same chart of accounts segments. All operations share the same calendar or period-type combination, but not the currency. Each country requires that a separate accounting data be maintained.
Identify the number of legal entities to be created and the number of accounting setups Create one legal entity and four accounting setups Create four legal entities and one accounting setup. Create two legal entities and four accounting setups Create four legal entities and four accounting setups.
ABC Enterprises has operations in the UK, France, the US (West), and the US (East). The US
(West) has budgetary control enabled and the US (East) requires approvals for journals. All
operations share the same chart of accounts, accounting calendar, and subledger accounting
method. The US (West) and the US (East) operate on the USD currency. The UK's currency is
GBP, whereas France operates on the EUR currency. Identify the least number of legal entities
and accounting setups to be created 1 legal entity and 4 accounting setups 4 legal entities and 1 accounting setup 3 legal entities and 3 accounting setups 4 legal entities and 4 accounting setups.
Select three criteria that are required to assign multiple legal entities to the same accounting
setup. (Choose three.) have similar ledger processing options open and close periods simultaneously have tax requirements that are specific for a legal entity require autonomous document sequencing for a legal entity operate in a country that allows multiple legal entities to share the same primary ledger and
The accounting setup process in Oracle General Ledger consists of three main steps. (Choose three.) Update accounting options Approve accounting options Complete the accounting setup. Create an accounting setup structure.
Select two statements that are true about ledgers in Oracle General Ledger. (Choose two.) Each accounting setup requires a primary ledger Each accounting setup requires a primary ledger and a reporting ledger Each accounting setup requires a primary ledger and an adjustment-only secondary ledger. Each accounting setup optionally requires one or more secondary ledgers and reporting
You are implementing Oracle General Ledger at ABC Enterprises. ABC Enterprises is a legal
entity and must perform corporate and statutory reporting. It operates in a country that requires
companies to have two complete ledgers: one for statutory reporting and another for corporate
reporting. Identify the best option for primary and secondary ledgers. Use the primary ledger to satisfy corporate reporting requirements, and then use a secondary ledger to satisfy statutory reporting requirements. Use the primary ledger to satisfy statutory reporting requirements, and then use a secondary ledger to satisfy corporate reporting requirements. Use the primary ledger to satisfy corporate reporting requirements, and then use an
adjustment-only secondary ledger to satisfy statutory reporting requirements Use the primary ledger to satisfy statutory reporting requirements, and then use an adjustmentonly secondary ledger to satisfy corporate reporting requirements.
Select two valid statements that apply to chart of accounts structures for a global company.
(Choose two.) A segment of different chart of accounts structures can share the same value set. A global chart of accounts is possible only if all sets of books for companies worldwide use the same chart of accounts structure If the same value set is used for two or more chart of accounts structures, the same security rules for that segment cannot be assigned to multiple structures It is possible to have multiple companies in the same set of books provided that they share the same chart of accounts structure, accounting calendar, and reporting currency.
You have been asked to demonstrate the basic functionality of Oracle General Ledger with a
ledger that reflects XYZ Company's business. Select four data elements that you would need to
obtain from XYZ Company to create a ledger for your demo. (Choose four.) the suspense account the intercompany account the retained earnings account the number of accounting periods the base (functional) currency of the company the accounting calendar with periods and the fiscal year-end the company organization structure for the chart of accounts.
ABC Inc. wants to have 16 accounting periods that include an adjusting period for each quarter in its 4-5-4 accounting calendar. Its fiscal year-end is March 31.The normal month-end is on a
Friday, but the last day of each quarter is always on the last day of the quarter's final calendar
month.Select the remaining setup for the calendar to meet the requirement. defining 12-monthly periods based on the 4-5-4 calendar ending on the last day of each month; defining an adjusting period on the last day of each quarter defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each
month; defining four adjusting periods for March 31 of the fiscal year defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each
month; defining an adjusting period on the last Friday of each quarter defining 12-monthly periods based on the 4-5-4 calendar ending on the last Friday of each month, except for the last month of each quarter ending on the last day of the month; defining an adjusting period for each of the last day of the quarter.
Your client wants to report with Financial Statements Generator (FSG) and perform account
inquiry at the summary (business unit) level of the cost center segment. A business unit is a group of cost centers, and a business unit manager typically has several cost centers under his or her responsibility. Which option will meet the client's requirements? defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the parent cost centers; creating FSG based on the rollup groups defining parent cost centers and a hierarchy of parent/child cost centers; creating summary
accounts based on the parent cost centers; creating FSG based on the parent cost center values defining parent cost centers and a hierarchy of parent/child cost centers; defining summary
accounts for the parent cost centers; creating FSG based on the parent cost center values or summary accounts defining parent cost centers and a hierarchy of parent/child cost centers; defining rollup groups for the parent cost centers, and summary accounts; creating FSG based on the parent cost center values or summary accounts.
XYZ Company is implementing Oracle General Ledger. They want to record and report on
expenses by cost center. Identify three segments that must be defined for XYZ Company's
accounting flexfield.(Choose three.) project account balancing cost center intercompany.
Identify three ways in which subledgers transfer information to General Ledger. (Choose three.) balances batch transfer detail journals line-level records summary journals.
ABC Corp. runs the Create Journals program, after which the Create Journal Entries Execution
report is automatically created. Identify three components on which the Create Journal Entries
Execution report reports. (Choose three.) Budget Journals Posted Journals report Payables encumbrance entries Purchasing encumbrance entries.
You set the GL: Journal Review Required profile option to "Yes." Identify the result. requires all journals to be reviewed before posting requires review of recurring journals before posting requires review of a journal entered in GL by the approver before posting requires generated Auto Allocation journals to be reviewed before posting.
For each subledger, there must be one _____. journal type account type journal source journal category.
Company A wants to distribute the rent expense to its various departments on the basis of floor
space. It has taken these steps:
1) capturing the floor space that is used by each department in a statistical account
2) creating a journal entry for the rent
Identify the next two steps required to distribute the rent cost to the various departments. (Choose two.) posting the journal defining the MassAllocation journal defining and generating MassAllocation creating manual journal entries for distributing the rent.
A reversing journal entry can be posted into _____. a current or any future open period a past closed period and a current open period a current open period and a never-opened period.
The GL user entered a taxable journal and posted it. Later, the user realized that the tax code
entered was wrong. What must the user do? Delete the journal and reenter it. Reverse and reenter the journal Unpost the journal and reenter it. Modify the tax code at the line level. Enter another journal with the difference in the tax amount.
The fiscal year of XYZ Inc. is the calendar year. Before closing the Mar-05 period, a GL user
notices that an entry related to the Dec-04 period has not been entered. Dec-04 has a closed
status. Now that the user has all the approvals, he or she wants to know how to enter and post the journal in GL, ensuring that all balances are reflected correctly.
What must the user do? Open Dec-04; enter and post the journal; close the period. Open Dec-04, Jan-05, and Feb-05; enter and post the journal; close all periods. Open Dec-04; enter and post the journal; run the Trial Balance report; close the period The user cannot post to a prior period that is not in the current fiscal year. So, enter and post it in Mar-05.
ABC Inc.'s calendar is the fiscal year. They also use Average Balance Processing.
ABC's accrual category is defined with AutoReversal, with the reversal period as the next day, and an effective date rule of roll. An accrual journal entered on 29-Apr-05 will be reversed on the _____. first day of the next period next day in the same period next business day in the same period next business day in the same period or the next period, based on the transaction calendar.
Which journal entry type does General Ledger automatically reverse and post? actuals budgets actuals and budgets budgets and encumbrance actuals, budgets, and encumbrance.
Identify three benefits of using the Journals Import: Group By Effective Date profile option.
(Choose three.) facilitates consolidation makes daily updates to daily business intelligence facilitates more transparent exchange rate conversions accounts for business transactions by effective date or by accounting date facilitates financial auditing and compliance with the new Sabanes-Oxley Act.
Select two components that are required to create the accounting setup by using Accounting
Setup Manager. (Choose two.) ledgers operating units data access sets definition access sets subledger accounting method.
Choose three required steps while performing the accounting setup in the Accounting Setup
Manager. (Choose three.) Define operating units Update accounting options Complete the accounting setup Define intercompany balancing rules Create the accounting setup structure. Assign balancing segment values to legal entities.
Identify two places where you can define a legal entity. (Choose two.) set of books data access set Legal Entity Configurator HRMS organization setup Accounting Setup Manager.
The Health Department of the United Kingdom is using the cash basis of accounting. After the
recent elections, the new government has decided to implement Oracle General Ledger. They
want to change the accounting method to accrual basis. However, they also want to maintain the cash basis of accounting for reporting purposes. As an implementation consultant, what one
recommendation would you make to meet the above requirement? Create two primary ledgers with the standard cash method Create two primary ledgers with the standard accrual method Create a primary ledger with standard cash, and a reporting ledger with standard accrual Create a primary ledger with the standard accrual method, and a reporting ledger with standard cash. Create a primary ledger with standard accrual, and the secondary ledger with the standard cash methods.
XYZ Limited has hired Jack as the Oracle General Ledger implementation consultant.
Select three steps that are required for creating a new accounting structure. (Choose three.) Define jurisdictions Define period types. Assign legal entities. Save the accounting structure Define accounting representations. Define subledger accounting methods.
Scott is implementing Oracle General Ledger for ABC Corporation. He needs help as he creates the accounting setup. Which two are true for the creation of the accounting setup? (Choose two.) Assigning legal entities to accounting setups is compulsory After the subledger accounting method is assigned, it cannot be changed. Before completing the accounting setup, secondary ledgers and currency can be deleted A calendar cannot be assigned if it contains gaps between periods or it does not have a full
fiscal year defined.
You are hired to implement Oracle General Ledger at Active Corporation. It has two offices: in the US (East) and the US (West). They have one primary ledger for their US operations. They want to maintain an additional ledger for management reporting and analysis purposes. They want all their department managers in the US to use the additional ledger to book internal management adjustments that are not published in their financial statements. Choose two statements that are true in the given scenario. (Choose two.) The secondary ledger contains day-to-day transactions. The primary ledger must contain only management adjustments. The secondary ledger represents the complete management picture. Assign an adjustment-only ledger to the existing accounting setup for the US legal entities Use ledger sets to combine primary and secondary ledgers to get the complete management picture.
ABC Systems is headquartered in Toronto with a branch in New Delhi. The Toronto office uses a weekly calendar, whereas the New Delhi office uses a monthly calendar. The GL journals of New Delhi must be reflected in Toronto's books. What conversion method would you use? Use journal-level secondary ledger conversion Use subledger-level secondary ledger conversion Use adjustment-level secondary ledger conversion Use both subledger-level and adjustment-level secondary ledger conversion.
ABC Corporation is headquartered in New Delhi with an office in Mumbai. They share the same chart of accounts, calendar, and currency. The Mumbai ledger contains manual adjustments and automated adjustments. The New Delhi office does not need a complete ledger to perform management or statutory reporting. Which four statements are true in the given scenario? (Choose four.) The Mumbai ledger is an adjustment-only secondary ledger Perform all adjustments in the Mumbai ledger Perform all day-to-day transactions in the New Delhi ledger. Use ledger sets to combine transaction data and adjustment data Perform all day-to day-transactions and adjustments in the New Delhi ledger. Consolidate data in the Mumbai ledger with the New Delhi ledger while reporting.
In the context of adding, deleting, and disabling secondary ledgers, select two valid statements.
(Choose two.) The subledger accounting method must be assigned if defining a balance- or journal-level
subledger. The subledger accounting method must be assigned only to the secondary ledger in case of
defining a subledger journals-level secondary ledger. The subledger accounting method must not be assigned if defining an adjustments-only
secondary ledger for manual adjustments in General Ledger. The subledger accounting method need not be assigned to the primary ledger for assigning a subledger accounting method to the adjustments-only secondary ledger The subledger accounting method must be assigned to both primary and secondary ledgers to use the adjustments-only secondary ledger for both manual and automated adjustments from subledger accounting.
Michael is responsible for the accounting setup. Here is the list of accounts for the accounting
setup structure mapped to their requirement.
1. suspense account - suspense posting
2. reserve for encumbrance account - exchange rate gain/loss
3. non-postable net income account - average balance processing
4. ledger currency balancing account - for using Oracle subledgers and balance subledger
journals by the entered currency and balancing segment value
5. entered currency balancing account - for using Oracle subledgers and balance foreign currency
subledger journals by the ledger currency and balancing segment value
Identify two correct mappings of accounts. (Choose two.) 1 2 3 4 5.
To achieve the maximum summary account functionality for total (T), how must the value sets for each segment of the accounting key flexfield be set? Precision must be set to one. The list type must be set to long list of values. The maximum size of each segment of the accounting key flexfield must be five characters. The format type must be set to character, and the additional option of numbers only must not be selected.
What is the effect of summary accounts on the efficiency of the posting process? Use summary accounts in the posting process to accumulate values Use summary accounts in the posting process to not accumulate values Use of summary accounts increases the efficiency of the posting process Use of summary accounts decreases the efficiency of the posting process.
Select two reasons to use reporting hierarchies instead of summary accounts. (Choose two.) Use summarized data in journal formulas Summary relationships are not permanent. Inquiry of summary amounts is done online. The primary use for summarization is only for reports. You can easily reorganize summary views in the future.of the posting process.
You need to verify that your system has enough resources to handle the volume of accounts that would be generated by the summary account template. The template has been designed as
The first segment is company, which has ten values.
The second segment is division, which is represented by the rollup group region. It has six parent values. The last segment is account, which has 500 values.
How many summary accounts would be generated by the template? 60 500 3,000 5,000 30,000.
You have the following information:
The Accounting flexfield structure is "company, department, product, account." Product has two
rollup groups: domestic and international. Department has one rollup group: manufacturing. All
accounting flexfield segment values can use alphanumeric characters.
Which summary account template would Oracle General Ledger fail to create? (D: Detail)(T: Total) T-T-T-T T-D-D-D D-D-D-D D-T-domestic-D D-manufacturing-D-T T-manufacturing-international-D.
A manager wants to review the cash balance by company. He has asked you to create the
summary account template. The company's accounting flexfield has four segments:
company (5 values)
cost centers (30 values)
region (4 values)
account (180 values)
The total number of cash accounts is five that are associated with two parents:
Three accounts are associated with the parent called Checking.
Two accounts are identified with the parent called Savings.
To combine the cash parents, you create a rollup group named Cash.
Which summary account template would you create to review the cash balances by company? (D: Detail) (T: Total) D-D-D-Cash T-T-T-Cash D-T-D-Cash T-D-T-Cash T-D-D-Cash D-T-T-Cash.
When summary account templates are associated with the check-level advisory of budgetary
control funds, what two actions must you perform? (Choose two.) The formula must be identified The currency must be identified The amount type must be identified. A debit or credit balance type must be assigned.
A manager wants to review the cash balance by company. He has asked you to create the
summary account template. The company's accounting flexfield has four segments:
Company (5 values)
Cost Centers (30 values)
Region (4 values)
Account (180 values)
The total number of cash accounts is five that are associated with two parents:
Three accounts are associated with the parent called Checking.
Two accounts are identified with the parent called Savings.
To combine the cash parents, you created a rollup group named Cash.
How many accounts would the summary account template generate? 10 40 60 240 1200.
How do you know funds are available in the budgetary control summary account template? when the result is less than one, regardless of the balance type when the result is greater than one, regardless of the balance type when the debit balance type has a positive amount, and the credit balance type has a negative balance when the debit balance type has a negative amount, and the credit balance type has a positive amount.
When structuring the summary accounts hierarchy, what fact must you take into consideration? Grandparenting is not allowed (parents cannot become children). You must include every parent value that is defined in the chart of accounts to a rollup group. General Ledger will not automatically maintain rollup relationships from the summary level to
the lowest detail level You can drill down only on balances from the summary level to the lowest detail level, and not to intermediate detail levels.
Which statement is correct about the differences between the functionalities of parent accounts and summary accounts? Summary accounts cannot be used in budget formulas, whereas parent accounts can be used in budget formulas Summary accounts speed up the posting process, whereas parent accounts require additional time for the Posting process Summary accounts use the summing segment type for MassAllocations, whereas parent
accounts use the looping segment type. Summary account balances can be viewed in the Account Inquiry form, whereas parent
account balances cannot be viewed in that form. Summary accounts slow down the generation of Financial Statement Generators, whereas
parent accounts help generate quicker results.
What are the five steps for creating MassAllocation journal entries? (Choose five.) posting journal entries reviewing journal entries validating cross-validation rules freezing the accounting flexfield generating MassAllocation journals creating the MassAllocation definition validating the MassAllocation definition.
Mark, the GL accountant, asks you whether he can use the constant (C) segment type with the
parent segment values while defining the MassAllocation formula. What would be your response? Whether you can do this depends on the formula You can customize the workflow and then do this Whether you can do this depends on the responsibility You can do this only if Allow Dynamic Insert is enabled. You can do this only if there is a summary account associated with the parent.
Jane, the GL accountant, comes to you with a requirement: the recurring journals batches must be automatically generated at specified intervals. What would be your response? Allow Dynamic Insert must be enabled to satisfy this requirement Cross-validation rules must be defined to satisfy this requirement It is possible to satisfy this requirement by using the autoallocation functionality. It is not possible to satisfy this requirement; recurring journals must be created manually.
The client's GL accountant comes to you with a problem. A journal cannot be posted because it
has not been approved. The preparer cannot submit the journal for approval because the Approve button is disabled in the Enter Journals form and the supervisor has not received a notification requesting the approval. What could be the possible cause for this problem? The profile option GL: Allow Preparer Approval must be reset. One of the GL account code combinations in the journal is invalid Authorization limits have not been defined properly and the GL period is closed. Budgetary control has been enabled for the set of books and funds have not been reserved for the journal.
During the testing phase of your implementation, you find that you are unable to delete a journal
batch, though it is not yet posted. You ask the technical consultant for help and he emails you a
checklist of scenarios in which the batches cannot be deleted.
Select three scenarios that would be on the checklist. (Choose three.) The source is frozen. The journal batch has not been posted. Funds have been reserved for the batch. The journal batch has not been approved. Funds are in the process of being reserved for the batch.
You are implementing Oracle E-Business Suite Release 12 General Ledger for ABC Corporation. Identify two setups required for journal approval. (Choose two.) Enable journal approval for the Journal Category window Disable the Journal: Find Approver Method profile option Enable the Journal: Allow Preparer Approval profile option Configure the GL journal approval process in Oracle Workflow Builder.
Jack is hired as an Oracle General Ledger implementation consultant for XYZ Corporation. Select two options that are necessary to enable journal approval. (Choose two.) key flexfields Journal Sources form Journal Categories form Journal Encumbrance Types form Journal approval on the Ledger Setup page.
Which two are the mandatory flexfield qualifiers in Oracle General Ledger? (Choose two.) balancing segment cost center segment management segment natural account segment secondary tracking segment.
Scott, a consultant with a leading consulting firm, is implementing Oracle General Ledger at a
client site and is setting up FSG reports to be used by different users.
One of the customer requirements is that all users with modify access must not be able to modify privileges on FSG reports. Identify the correct option to meet customer requirements Enable the security on definition by selecting the enable security check box. Remove the security on definition by deselecting the enable security check box. Exclude the assign access function for those definitions from the user's responsibility Define security rules and specify what actions can be performed by each user or a group of
users. Set up profile options against each user and specify what actions can be performed by each user or a group of users.
The management segment qualifier must be attached to which key flexfield segment? future segment account segment company segment department segment intercompany segment.
The GL accountant tells you that he is running the tests to check the budget functionality. He says that the GL period was closed, but he was able to post the budget journal in a closed period. You check the setup and confirm that the GL period in which he was able to post the budget journal was closed. What explanation do you give? The budget year is open The budget status is frozen. The budget status is current The Require Budget Journal profile option is set at the set of books level.
Sam, the CFO of XYZ Company, finds that in the expenditure budget of the current year, there are many funds available in the stationery account, whereas there is not much amount left for
employee travel expenses. Sam instructs the budget analyst John to transfer 80% of the stationery account to the travel expenses account. While transferring the amount, John encountered errors and approached Sam for a resolution. Sam reviews the situation and clarifies it to John. Choose what Sam would have explained to John. There must be some budgetary control enabled on the travel expenses, and a transfer can be made only after a funds check. There must be some budgetary control enabled on the stationery account, and a transfer can be made only after a funds check There must be some budgetary control enabled on the stationery and travel expenses
accounts, and a transfer can be made only after a funds check. It is not possible to transfer amount from one account to another unless the absolute amount is known. So John should have calculated 80% of the stationery account and then tried to make the transfer.
The GL accountant has defined the budget and wants the assistant accountants to enter and
update the budget. The GL accountant wants this budget to be the default. What would be your
response? If the client wants to do this, the budget status must be open. If the client wants to do this, the budget status must be current. The Oracle General Ledger budget functionality cannot satisfy this requirement If the client wants to do this, customization of Oracle Workflow is the only option.
Peter, the GL accountant, tells you that he has defined the budget and that the budget amounts
have been entered and approved by management. After approval, he wants his assistant
accountants to NOT be able to update this budget. What would be your response? The budget status must be current Set the budget status to frozen to meet this need. The Oracle General Ledger budget functionality cannot satisfy this requirement If the client wants to do this, customization of Oracle Workflow is the only option.
Jane, the GL accountant, asks you whether she could delete the budget after it has been defined.
She also wants to know whether she could delete the budget organization after it has been
defined. What would be your response? You can delete the budget and the budget organization after they have been defined You cannot delete the budget or the budget organization after either has been defined You cannot delete a budget after it has been defined. However, you can delete a budget
organization. You cannot delete a budget organization after it has been defined. However, you can delete a budget.
Jack, the CFO of ABC Company, wants to prepare the annual capital expenditure budget for the current year where the company plans to grow in the last quarter of the year. The capital
expenditure budget is subdivided in multiple items, and the corporate calendar used at ABC
Company has thirteen periods. Identify the three budget rules that Jack must use to minimize the effort. (Choose three.) Use the divide evenly rule with the 4/4/4 spread. Use the divide evenly rule with the 4/5/4 spread Use the divide evenly rule with the 5/4/4 spread Use the divide evenly rule with the 4/4/5 spread.
Sam, the CFO of XYZ Company, wants to prepare the annual capital expenditure budget for the
current year with reference to the capital expenditure budget of the previous year.
The capital expenditure budget is subdivided into multiple items, and the corporate calendar used at XYZ Company has thirteen periods. Which budget rule must Sam use to minimize the effort prior year budget monetary and prior year budget statistical prior year actual monetary and current year budget statistical prior year budget monetary and current year budget statistical current year actual monetary and current year actual statistical current year budget monetary and current year budget statistical.
Suppliers play an important part in the Procure-to-Pay process. Select three activities that you
must perform using a supplier. (Choose three.) You receive goods or services from suppliers. You need supplier information for entering purchase orders. You must pay the supplier for the goods or services purchased You need a supplier as the criterion to search for a payment in the system You need a supplier as the criterion to search for purchase orders in the system.
Purchasing has numerous activities that are performed as a key part of the Procure-to-Pay
process. Select three activities that are performed in the Purchasing module that will integrate into Payables. (Choose three.) canceling invoices performing receiving scheduling payments creating purchase orders creating purchase order detailed accounting information.
Subledger Accounting is a rule-based accounting engine that centralizes accounting for Oracle EBusiness Suite Release 12 products. Select the Oracle application that is NOT a Subledger
Accounting module Assets Payables Purchasing Receivables General Ledger.
Oracle Payments is the central payment engine for Oracle E-Business Suite Release 12. Identify three modules that integrate with Oracle Payments. (Choose three.) Assets Payables Receivables Cash Management Order Management.
There are five major business functions that occur sequentially during the natural flow of the
Payables processes. Consider this list of five steps:
1. Invoice Payment
2. Invoice Validation
3. Invoice and Payment Accounting
4. Supplier Entry
5. Invoice Import/Entry
What is the order in which these steps must be performed? 1, 2, 3, 4, 5 4, 5, 2, 1, 3 5, 3, 1, 2, 4 3, 1, 4, 2, 5 4, 2, 5, 1, 3.
There are many fields with important data displayed on the main page of the Payables Overview window. Which three fields do NOT appear in the Payables Overview main window? (Choose three.) Terms Paygroup Trading Partner Settlement Date Remit-To Bank Account Name.
What are the three prerequisites for interfacing Payables invoice lines with Assets? (Choose
three.) The invoice has no holds. The invoice must be posted to General Ledger The invoice has been transferred to General Ledger. The invoice distribution has "Track as Asset" selected. The distribution account is an Asset Clearing or CIP account.
Identify two events that take place when an invoice is matched to a purchase order. (Choose two.) Tolerances are enforced The quantity billed is updated The quantity received is updated The purchase order accounting information is copied to the invoice.
Identify the two invoice types processed by the Payables Open Interface process. (Choose two.) standard prepayment debit memos credit memos.
Identify four interface tables that are available in Oracle Payables. (Choose four.) Payables Open Interface Suppliers Open Interface Payables PCard Interface Payables Payments Interface Payables PO Matching Interface Payables Invoice Open Interface.
There are numerous Oracle modules that are integrated into or out of the Payables module.
Identify four Oracle modules that are directly integrated with Oracle Payables. (Choose four.) Loans Purchasing Bill of Materials E-Business Tax Order Management Cash Management System Administrator.
Select three types of Payables open interfaces that will import data into Payables from other
applications or third-party solutions. (Choose three.) PCard Open Interface Supplier Open Interface Matching Open Interface Receiving Open Interface Payments Open Interface.
Identify three types of entities that can be defined and related to one another in Oracle
Applications. (Choose three.) ledger paygroups legal entities responsibilities business groups.
To set up and use Multiple Organization Access Control (MOAC) most effectively, you need to
define three profile options. (Choose three.) MO: Operating Unit HR: Security Profile MO: Security Profile HR: Business Group MO: Default Operating Unit.
Select four options that can be set at the supplier site level. (Choose four.) surveys tax details accounting bank details business classification.
You are at a client site that has thousands of suppliers in their current legacy system that will end up in the Oracle Production system. Before conversion, you must perform a supplier cleanup on these numerous names and sites. Which three naming conventions would you use for "Best Practices" during the supplier cleanup? (Choose three.) Use Last Name, First Name to identify employees as suppliers Create some supplier names in uppercase and others in mixed case. Use abbreviations in the supplier name even it is not abbreviated on the invoice Remove all punctuation marks (commas, periods, and so on) from the supplier name. Use the exact spelling of a supplier name as it appears on the invoice for the naming
You are on a phased-approach implementation. Payables and Purchasing are being implemented in Phase One, and Assets in Phase Two. Identify three choices in the process for the best way to discuss supplier naming conventions and supplier site naming conventions. (Choose three.) Agree upon naming conventions. Gather only the Payables and Purchasing personnel. Document conventions and obtain the sign-off by authorized approvers later Document conventions and obtain the sign-off by authorized approvers immediately Gather all interested parties for requirements-including Assets, Payables and Purchasing.
The rate variance Gain/Loss accounts specified in the Financial Options - Accounting region are used to account for _____. exchange rate variance in invoices and payments invoice price variance in purchase orders and invoices exchange rate variance for expense items in purchase orders and invoices exchange rate variance for inventory items in purchase orders and invoices.
Client A has three legacy systems that contain this financial information: purchase orders,
suppliers, receipts, invoices, accruals, and expense reports. The client must have much of this information loaded into Oracle Accounts Payable daily until they can effectively retire these three systems. Identify the best approach that involves minimal customization. .
Develop custom interfaces for receipts and accruals, and use the invoice import process to
bring in other information. .
Use Invoice Import to bring in invoice and invoice accrual information. The rest requires custom interfaces to be developed. .
Use Invoice Gateway to bring in invoice information, and Supplier Import for suppliers. The rest requires custom interfaces to be developed. .
Use Invoice Import to bring in all the above information after setting the correct profile options and defining the appropriate AP and non-AP transaction sources. No custom interfaces are needed .
Use Invoice Gateway to bring in the invoice, invoice accrual, and expense report information; and Supplier Import to bring in supplier information. The rest requires custom interfaces to be developed.
Company K has identified these business requirements for their Payables operations
1. All invoices must be part of a batch.
2. Discounts must be taken in all situations.
3. Invoices must be numbered by the system.
4. Accounting entries must be created for all invoice types.
5. All credit memos above a certain dollar amount must be approved before entry.
6. Four-way matching is enforced.
Select the profile option to be configured that will satisfy the above requirements AP: Invoice Match AP: Use Invoice Batch Controls AP: Enable Invoice Autonumbering AP: AP Discounts Interface Start Date AP: Use Invoice Accounting For Credit Memos.
ABC Corp. wants to allocate the gross amount of XYZ Co. invoices to fifty cost centers each time an invoice is received from them. The cost centers that are to be charged require minimal
updating. Select the option you would recommend that requires minimal ongoing maintenance. Import predefined invoices from an Excel spreadsheet A customization may be created to allocate the charges at the end of the month. Create an invoice and use the prorate functionality to allocate the cost across accounts. Make it an operational policy that all invoices of this type are created listing all the desired
accounts Create a distribution set for all the desired accounts and associate it to all new invoices for this supplier.
Company Z has implemented Payables, General Ledger, and Project Accounting. Both Transfer to GL and Interface Supplier Costs are processed each night. A descriptive flexfield called SAI Value has been defined on the invoice header to capture additional information, and is used in conjunction with the accounting on the invoices. This is not a required field. There is a
corresponding user-defined hold called SAI Hold, which is manually applied whenever an invoice is created and the SAI Value has not been provided to Company Z by the supplier. During weekly reviews of accounting, users have found that invoice transactions that are on SAI Hold are displayed in Project Accounting but not in General Ledger. Select what is causing this issue Invoices have not been validated The current General Ledger period is closed. The current Project Accounting period is closed The Payables Accounting process has not been run Accounting is not being created by the user-defined hold The descriptive flexfield field must be a required field, and not an optional field.
Select three invoice types that can be entered ONLY in the Invoice Workbench, and CANNOT be entered via the Invoice Gateway. (Choose three.) debit memos credit memos prepayments PO default invoice PO standard invoice.
Identify the two methods that are NOT used to enter invoice distributions. (Choose two.) using a distribution set creating through allocations matching the invoice to a shipment using the Distributions Open Interface manually entering in the distributions window.
Company XYZ has received an invoice that includes freight charges. They want to distribute the
freight charges proportionately to the same accounts that were charged for the items. Identify the steps they need to follow to create the freight distributions. Manually enter freight-type distributions for each account that was charged. Enable Automatically Create Freight Distribution in the invoice region in the Payables Options window Create a freight distribution by selecting the Create Freight Distribution check box in the
Invoices window In the Distributions window, click the Allocate button, identify the distribution type as Freight,
select Prorate, and select the distributions to which freight charges would be allocated.
ABC Corp. requires that all invoices are matched to both a purchase order and a receipt. Invoice tolerances are set to zero. A standard purchase order is entered for consulting services. An invoice is entered and matched against a purchase order. The total invoice amount matches the distribution amount. When the steps to prepare the invoice for payment are completed, the invoice is placed on hold. The company's business policy states that all holds cannot be manually released. To pay the supplier, identify the step to be completed to remove the hold and be eligible for payment Inspection is required because it is a three-way match. Manually release the hold because it is not a system hold. The service must be received in Purchasing because three-way matching is required The service must be received in Accounts Payable because it is a purchase order for a service and not a commodity or item Change the invoice tolerances in the Payables Options form to be greater than zero, so that the invoice does not go on hold again.
Which two statements are true if you select the QuickMatch invoice type? (Choose two.) You can use QuickMatch to match individual distribution lines. You can use QuickMatch to match individual purchase order shipments Payables automatically completes the match to all available shipments on the purchase order Payables automatically creates invoice distributions on the basis of the purchase order
Which three are true regarding purchase order-matched invoices? (Choose three.) You can set up controls in your system to require you to purchase order-match each invoice You can set up controls in your system to require you to invoice-match credit /debit memos that have been matched to a purchase order You can set an option on a purchase order shipment that controls whether invoices must match that shipment directly or through a receipt You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are less than the amounts or quantities on the purchase order or receipt You set tolerances to specify the range of variance you will allow if the amounts or quantities on the invoice are greater than the amounts or quantities on the purchase order or receipt.
Client L has implemented Oracle Payables. They have been able to enter invoices and have them validated, but have been unable to create accounting entries. You have been asked to review the situation. Identify what could be causing this problem. The base currency has not been defined Automatic offsets have been set to balancing The primary accounting method has not been defined The Payables Accounting Process was not submitted The account for gain or loss attribute has not been enabled.
Identify four functions of the Invoice Validation process. (Choose four.) applying any required holds releasing any qualifying holds applying all prepayments and discounts validating the General Ledger accounting information validating and creating accounting entries for the invoice ensuring that the total amount of all distributions equals the invoice total creating an additional distribution for any difference between the total amount of all distributions and the invoice total.
A client has a requirement for their Payables application:
1) AP must automatically create balancing accounting entries for invoice and payment
transactions by using the expense GL Account.
2) Stop the application of a prepayment amount to an invoice or expense report amount that is
charged to a different balancing segment.
Which two steps would satisfy both these requirements? (Choose two.) Set the Automatic Offset Method to Accrual. Set the Automatic Offset Method to Account. Set the Automatic Offset Method to Balancing. Enable the Prevent Prepayment Application Across Offset Segments option Enable the Prevent Prepayment Application Across Account Segments option Enable the Prevent Prepayment Application Across Balancing Segments option.
Before you can pay or create accounting entries for an invoice, the Invoice Validation process
must validate the invoice. After this process is run, there is data that cannot be updated, modified, or changed. Choose three data fields that cannot be updated, modified, or changed after the Invoice Validation process has run and this invoice has a prepayment applied to it. (Choose three.) invoice date supplier site trading partner supplier number invoice description.
Identify three invoice holds that cannot be manually released. (Choose three.) Acct Hold Reason Funds Hold Reason Invoice Hold Reason Variance Hold Reason Insufficient Information Matching Hold Reason Prepaid Amount Reason.
You can hold the payment of an entire invoice or part of an invoice. This hold prevents a validated invoice from being selected in a Payment Batch, and paid. Identify the Payables window where you can select the Hold check box to place the invoice on a Payment Hold Enter Payments Invoice Overview Invoice Distributions Scheduled Payments.
Select the three windows where a user can manually release an invoice hold or payment hold.
(Choose three.) Holds Actions Invoice Lines All Distributions Scheduled Payments.
Identify the item that requires approval through the workflow process. invoices not matched to a purchase order invoices that existed before you enabled the feature expense reports imported through the Payables Expense Report Import Program recurring invoices if the recurring invoice template did not have the Approval Workflow
Required option enabled.
A client is implementing ACH and has a business requirement that all invoices go through an
approval process flow. Identify three features of the Invoice Approval Workflow that would meet
their requirement. (Choose three.) allows automatic resubmission of an invoice if rejection occurs has predefined criteria to identify which invoices require approval allows approval routing management from one central responsibility provides automatic routing of invoices upon approval to another designated approver allows for corrections to invoices to be made while still in the approval routing process provides time limits as to how long an invoice can remain unapproved before being
automatically rerouted to the next approver.
Identify three true statements about the invoice approval workflow. (Choose three.) If an approver rejects the invoice, the Workflow program ends. If an approver does not respond within the time you specify, Workflow routes the invoice back to the originator If an approver does not respond within the time you specify, then Workflow requests approval from that person's manager. If an approver approves the invoice, the invoice goes to the next person in the approver list until all required people approve the invoice If the invoice amount is changed after the invoice is already submitted to the approval process or after the process is complete, the system does not automatically resubmit the invoice for approval.
Using the Payables System Setup Options form, you can enable autonumbering for _____. invoices suppliers payments employees expense reports.
Company ABC has decided to use the invoice approval workflow to require approval on all
invoices. Select two exceptions where Payables automatically sets the approval status to not
required. (Choose two.) invoices imported through EDI invoices created after invoice workflow approval is enabled invoices created using the Pay on Receipt Autoinvoice program expense reports imported through the Payables Expense Report Import program recurring invoices if the approval workflow option required was not enabled on the template.
Identify four purposes for which the Special Calendar is used. (Choose four.) payment terms recurring invoices Key Indicators Report automatic tax withholding opening and closing payables periods controlling the number of future periods.
Select four tips that can be used to speed up data entry. (Choose four) Use quick invoices Use distribution sets Use recurring invoices Use keyboard shortcuts Use only invoices without holds.
Identify three statements that properly describe the use of distribution sets. (Choose three.) Assign a distribution set to an invoice when you enter it. Use full distribution sets to create distributions with no set percentage amounts Use skeleton distribution sets to create distributions with set distribution amounts. Assign a default distribution set to a supplier site, so Payables will use it for every invoice you enter for that supplier site Use a distribution set to enter distributions for an invoice automatically when you are not
matching it to a purchase order.
ABC Corporation wants to convert from their existing legacy application to Oracle E-Business
Suite Release 12. Identify three statements that are true for invoice conversion. (Choose three.) Merge all paid invoices for a supplier Invoices related to employee expense cannot be converted Establish a cutoff date after which invoices will be entered in Payables Use Payables Open Interface to convert unpaid invoices and credit memos Develop metrics that will be used to determine whether data conversion was successful.
Company ABC has implemented Oracle Payables. They have decided not to define supplier bank accounts. They will use payment batches, quick payments, and manual payment processing.
Select three payment methods that are available based on the company's requirements. (Choose three.) wire check clearing electronic funds transfer (EFT) electronic data interchange (EDI) extensible markup language (XML).
Which statement is true about paying invoices? An invoice can be paid without being validated. An invoice can be paid only after the invoice accounting entries are created An invoice must be validated before you can create invoice accounting entries. Invoice accounting entries and payment accounting entries can be transferred at different times to General Ledger only if they are in different calendar periods Both invoice accounting entries and payment accounting entries must be transferred to General Ledger at the same time if they are in the same calendar period.
Which is the final step in processing a payment batch? Cancel the payment batch Confirm the payment batch Validate the payment batch Run the create accounting process Transfer the batch to General Ledger.
You are working on an implementation for Accounts Payable. Many payments for small suppliers will be made outside the system, but your client does not want to manually record them because that would be time consuming. Choose the best solution Create electronic payment batches by using a check payment method for those multiple
suppliers, and destroy those checks Create electronic payment batches by using a wire payment method for those multiple
suppliers, and then delete the resulting electronic file. Create electronic payment batches by using a clearing payment method for those multiple
suppliers because this payment method does not generate a file Create electronic payment batches by using an electronic payment method such as EFT for
those multiple suppliers, and then do not send the resulting electronic file to the bank.
Identify the default value for the term date that would extend the time to pay an invoice, if the
payment term is net 30 days invoice date system date invoice entered date goods received date invoice received date.
Identify three Payables system setup options. (Choose three.) bill-to location always take discount allow void and reissue create interest invoice application accounting definitions.
Identify three statements that describe Payment Terms. (Choose three.) default from the supplier site cannot be specified in import tables can be used for electronic payments can be used to schedule payments for an invoice automatically calculate due dates, discount dates, and discount amounts for each invoice.
Identify three options available to manage cash requirements. (Choose three.) Include Only Due. Change Pay Groups Select Payment Terms. Select additional Pay Through Days. Narrow the selection of invoices in pay run.
Identify three features that speed up data entry. (Choose three.) data loader scan invoices account aliases customized folders account distribution sets.
Identify three features of Payment Manager. (Choose three.) updates a supplier's bank details provides calculation of the interest amount uses templates to select invoices to pay that meet the payment criteria creates payment process request templates by specifying invoice selection criteria automatically submits invoices via payment process requests to Oracle Payments for
processing and payment.
Identify three statements that are true for electronic or wire payment. (Choose three.) A wire payment validates the supplier's bank details. More bank accounts for a supplier or supplier site can be added Supplier banks must be assigned to the supplier for electronic payment. Payables does not require supplier bank account information for a wire payment Electronic payment instructs the bank to make payment to a supplier bank account.
Which three are true about internal bank accounts? (Choose three.) They are defined to disburse funds to suppliers They are defined for receiving payment from customers. They are defined to disburse electronic payments from your customers They are defined for receiving electronic payments made to your suppliers Internal accounts define bank accounts for which you are the account holder.
Which two statements are true about defining payment documents? (Choose two.) Checks and electronic payments are examples of payment documents Credit and debit memos and checks are examples of payment documents You can create only one payment document for each internal bank account You must create at least one payment document before you can use a bank account to create invoice payments Use the Payment Documents window to define payment documents for internal, customer, and supplier bank accounts.
Identify three statements that are true for supplier's bank details. (Choose three.) Suppliers maintain their bank details Bank details are required only for manual check payments Bank accounts can be added at any time for a supplier or supplier site Payables uses bank account information to generate an electronic payment for a supplier Updating bank accounts for a supplier will not affect bank accounts for existing supplier sites.
Identify three statements that are true for entering bank and branch details. (Choose three.) Each bank must have at least one bank branch The bank account number is free-formatted information Banks and bank branches are created for Cash Management Bank accounts cannot be shared between bank and bank branches Each bank can have multiple branches and each branch can have multiple accounts.
Identify three statements that are true about bank and supplier payment. (Choose three.) Primary bank account can be only at the supplier site. Credit and debit memos are examples of payment documents Supplier's payment requires a bank account with at least one payment document Use the Banking Details page to create bank accounts for making payments to suppliers If bank accounts for a supplier site are entered, Payables defaults the supplier's active bank
Identify three statements that are true about bank account information. (Choose three.) Bank accounts are used to calculate the supplier's discount Disbursement bank accounts cannot be used for payment Payables, Receivables, and/or Treasury uses bank accounts Payables uses an internal bank account to disburse funds to suppliers. Receivables uses a bank account to receive payments from customers.
To transmit an electronic payment instruction manually, perform these four steps.
1. In the Payments Manager, select the Payment Instruction tab.
2. In the Status field of the Search region, select Formatted - Ready for Transmission and click the Go button.
3. For the applicable payment instruction, click the Take Action icon. The Transmit Payment
Instruction: <number> page is displayed.
4. From the Actions drop-down list, select Transmit and click the Go button. Arrange the steps in the proper sequence they would be performed 1, 3, 2, 4 1, 2, 3, 4 1, 3, 4, 2 2, 3, 4, 1.
Identify four options for Quick Payments. (Choose four.) Create a check, save it, and print it later Select an invoice that has not been validated. Select an invoice that has one or more holds Create a quick payment, and select an invoice regardless of the due date Create a quick payment, and select an invoice regardless of the payments terms Create and print a computer-generated payment to pay a supplier for one or more invoices.
Creating multiple scheduled payments allows you to issue partial payment of an invoice or to pay an invoice over multiple dates. Identify the one invoice field that is NOT used on the Scheduled Payments tabbed page due date bank account gross amount trading partner payment method system hold reason.
Payment process request templates are created on the Templates tabbed page of the Payments Manager to simplify pay run processing. All statements in the list below represent steps to create a payment process request template. Which one is the first step? Specify payment attributes. Specify template header information Specify the degree of pay run automation Specify invoice payment selection criteria Specify how the system handles validation failure on the document and payment levels.
R12 uses simplified navigation paths. To which specific button or navigational notation does (ST) refer? start stop save submit search subtab.
In the Payment Process Requests, which action(s) can you perform on invoices that are selected for a pay run?
1. Review unselected invoices.
2. Change the invoice amount or the discount taken.
3. Add selected invoices to the payment process request.
4. Remove selected invoices from the payment process request.
5. Recalculate interest, payment withholding, or exchange rates. All actions 1-5. 1, 3 and 4 only 1, 2 and 5 only 1, 2, 3 and 4 only.
To review All of Todays selected invoices from the payment process request in the Payment
Manager, perform these actions:
1. Navigate to the Payment Process Request component.
2. Navigate to the (B) Views window.
3. Select All of Todays from the drop-down list.
4. Click the Go button.
5. The payment process request for today is displayed.
Select the actions, arranged in their proper sequence 2, 3, 4, 5 5, 2, 3, 4 1, 2, 3, 4, 5 5, 2, 3, 4, 5.
Which four selection criteria can be used when creating a pay run? (Choose four.) supplier due date customer pay group invoice batch payment priority.
The Quick Payment method is best described as the method of _____. creating a payment without an invoice manually writing a check outside of Payables recording a payment made outside of Payables creating and printing a computer-generated payment to pay a supplier for one or more invoices.
You have received an invoice that requires an immediate payment. The next scheduled check run is not until the end of the week. Which two methods may you use to create the payment? (Choose two.) .
Enter the invoice in the Invoice Workbench, and validate the invoice. Open the Payment
Workbench and create a quick payment. .
Enter the invoice in the Invoice Workbench, and validate the invoice. Open the Payment
Workbench and create a manual payment. .
Enter the invoice in the Invoice Workbench, validate the invoice, and select pay in full. This
accesses the Payment Workbench and create a quick payment .
Enter the invoice in the Invoice Workbench, validate the invoice, and select pay in full. This
accesses the Payment Workbench and creates a manual payment.
Which three restrictions apply when you are paying invoices with a "quick" payment type?
(Choose three.) You can select only those invoices that are due If you want to pay multiple invoices, none can be a pay-alone invoice. If you want to pay multiple invoices, none can be of an invoice type of prepayment You can pay only as many invoices as you defined for the remittance advice of the payment
document You can select only those invoices that have the same supplier site as the payment supplier
site you enter.
Choose the process that can be performed after a pay run has been formatted. Change an invoice amount Prevent payment to a supplier Print checks from the output file. Prevent payment of a particular invoice Add an invoice that Payables did not originally select.
You just received an invoice for a new supplier. You need to pay it and ensure that all accounting entries are created in General Ledger. You perform these steps, in the order shown:
1. Enter the supplier.
2. Enter the invoice.
3. Create the pay run.
4. Create payment accounting entries.
5. Validate the invoice.
6. Create invoice accounting entries.
7. Transfer the information to General Ledger.
What would be the result? The invoice is not paid and no entries are created in General Ledger The invoice is paid and all accounting entries are created in General Ledger The invoice is not paid but the invoice accounting entry is created in General Ledger The invoice is paid but only the invoice accounting entry is created in General Ledger.
Select four occasions when the Create Accounting process can be run. (Choose four.) after the payment process before the payment process after the Invoice Validation process before the Invoice Validation process before the transfer information to GL process.
The manual payment method is best described as the method of _____. paying multiple checks in a pay run paying a single check within Payables manually writing a check outside of Payables recording a payment made outside of Payables.
You initiated a pay run by entering criteria for invoices that you want to pay. In which order would
you perform these steps to complete the pay run process?
1. Review proposed payments.
2. Print payments.
3. Create payment instructions.
4. Select and build proposed payments.
5. Mark payments as complete 4, 2, 1, 5, 3 4, 1, 3, 2, 5 2, 4, 1, 3, 5 5, 4, 1, 2, 3.
Identify three options for preventing prepayments. (Choose three.) Release the scheduled payment Apply one or more holds to the prepayment Apply the holds as you would for any other invoice. Release the holds from a prepayment just as you would for any other invoice.
When reconciling Payables and Cash Management, you may encounter clearing restrictions. Here are three clearing restrictions for Cash Management.
1. Oracle Cash Management cannot clear bills payable that have a status of _____.
2. Oracle Cash Management clears bills payable only if the payment status is _____.
3. On or after the maturity date of the payment, you can update the status to _____.
Identify the one status for the second clearing restriction issued negotiable reconciled.
Here is a description of a report, file, or register. Use this to review payments created for each
bank account that you use during a time period you specify. The report lists each payment, as well as total payment amount and cleared amount of all payments. Identify the name of this standard report. Positive Pay File Payment Register Payment Exceptions Report Payment Process Request Status Report.
Which statement is FALSE about the Stop Payments Report Use this report to review all current stop payments. Payables lists stop payments that were voided at a later time Payables does not list stop payments that were voided at a later time. Payables does not list stop payments that were initiated, but then released at a later time.
Company A has implemented Oracle Payables and Oracle General Ledger. It has a third-party
(non-Oracle) application that it uses to enter employee expense reports. The company wants to
interface the expense reports created in the third-party application to Oracle Payables as invoices,
and pay these invoices out of Oracle Payables. Identify the Oracle Payables interface that
accomplishes this Projects Import Interface Payables Open Interface Credit Card Import Interface Expense Report Import Interface.
Identify two advantages of using Oracle Internet Expenses. (Choose two.) It improves cycle times by routing expense reports via a workflow. Expense reports that are entered using Internet Expenses are visible in Payables Enforcement of spending policy controls expenses, showing any policy deviations Expense report template attributes are defined in Internet Expenses to manage expense types.
Company A wants to use Oracle Internet Expenses with expense report templates.
Identify three true statements for the setup of expense report templates. (Choose three.) The tax code assigned to an expense item must be Web enabled. Each expense item must have an expense category assigned to it The expense report template must be enabled for Internet Expenses. The GL account assigned to an expense item must have all accounting flexfield segment
Expense reports for Company A are entered in Payables using the Expense Report form. The
accounting flexfield has a three-segment structure:
Company - Cost Center - Account
The employee GL account on the expense report is populated from the employee record. The
company and the cost center for the expense lines are derived from the GL account. The account segment value could vary for every line on the expense report. Identify the approach you recommend to Company A for fast and accurate entry of expense reports Enter the expense report header. Enter lines. Enter all segment values for each expense report line. Enter the expense report header. Enter lines. Override the account segment value for each line as required Create expense report templates. Enter the account segment value for each line on the
template. Leave the other segment values empty. Use the template lines when entering the
Identify the setup options that would allow the accounts payable supervisor to default an active
expense report template System Options Financial Options Code Set Options Payables Options Expense Report Payables Options.
If you use the Expense Report Export program, it converts expense reports created in these
applications into Payables invoices. Identify the two applications. (Choose two.) Oracle Aria Oracle Travel Oracle Projects Oracle Payables Oracle General Ledger Oracle Internet Expenses.
During the entry or update of expense reports in the Payables Expense Report window, holds can be applied on an expense report. These holds are carried forward to the invoice created from the expense report in Payables. Which statement is true? Only one user-defined hold and no system hold can be applied on one expense report in the
Payables Expense Report window Any number of user-defined holds and only one system hold can be applied on one expense
report in the Payables Expense Report window. Only one user-defined hold and any number of system holds can be applied on one expense report in the Payables Expense Report window Any number of user-defined holds and any number of system holds can be applied on one
expense report in the Payables Expense Report window.
A client wants to configure Oracle AP to perform prepayments for matched invoices.
You have been hired as the implementation consultant and have been given the assignment. To
complete this assignment, choose the option that applies Set up the prepayment terms Enable "Allow prepayments" in the Financial Options form. Enable the Oracle Payables Enable Prepayments profile option No additional configuration is required. Users must set up the prepayment when the invoice is created. No additional configuration is required. Users must set up the prepayment when the payment is created.
Identify the conditions that must exist before you can apply an advance against an expense report. The prepayment type is temporary and has been fully applied. The prepayment type is temporary and has not been fully applied The prepayment type is permanent, has been validated, and not canceled. The prepayment type is permanent and no active holds exist for the prepayment.
Identify the table used to load procurement card transactions. AP_Card_Codes AP_Invoices_Interface AP_Invoice_Lines_Interface AP_Expense_Feed_Lines_All.
Select the four activities that are NOT part of the Payables closing process. (Choose four.) confirm payment batches close the Payables period close the General Ledger period process period-end receipt accruals review the Uninvoiced Receipts Report process the remaining Inventory transactions.
Identify two exceptions that prevent you from closing the period in Payables. (Choose two.) unpaid invoices outstanding pay runs invoices not validated unaccounted invoices unpaid expense reports.
Select three processes that must be performed before closing the purchasing period. (Choose
three.) Process period-end receipt accruals. Run the Purchasing Account Analysis Report Process the remaining inventory transactions Run and review the Uninvoiced Receipts Report Run Transfer Journal Entries to the GL program from Receiving.
XYZ Corporation uses Fixed Assets to manage their Asset transactions such as capitalizing,
depreciating, adjusting, and retiring. After assets are purchased and the invoice is entered and
accounted for, the company runs the Mass Additions Create process to send assets to Fixed
Assets. When the purchase order is written, which account must be specified on the purchase
order distribution for the charge account? the material account associated with the inventory organization the AP trade liability account associated with the operating unit the asset cost account associated with an asset category in Assets the asset clearing account associated with an asset category in Assets.
XYZ Corp. must complete the subledger account process and perform other period-end closing
activities. Payables must validate and account for the remaining invoices that have system holds.
Select the period-end processing order to be followed assuming that there are no error
transactions. journal import, journal posting, invoice validation, create accounting, transfer journal entries to General Ledger create accounting, invoice validation, transfer journal entries to General Ledger, journal import, journal posting invoice validation, create accounting, transfer journal entries to General Ledger, journal import, journal posting transfer journal entries to General Ledger, submit journal import, create accounting, invoice
validation, journal posting.
Your company accrues expense items at period end. Identify the report that must be generated
before you run your receipts' accrual period-end process Accrual Write-Off Uninvoiced Receipts Mass Additions Create Accounts Payable Trial Balance.
Identify the report that is used to reconcile the Accounts Payable liability balance at period end Accrual Write-Off Report Uninvoiced Receipts Report Accounts Payable Trial Balance Payables Posted Invoice Register Payables Posted Payment Register Matched and Modified Receipts Report.
Identify the four reports you must run when reconciling invoices and payments to the Accounts
Payable Trial Balance Report. (Choose four.) Void Check Register Posted Invoices Report Posted Payments Report Accounts Payable Trial Balance - prior period Payables Transfer to General Ledger Reports Accounts Payable Trial Balance - current period Account Analysis - (132 Char) / Account Analysis - (180 Char).
Identify three Oracle E-Business Suite Release 12 applications that both integrate with Payables and provide Payables-related accounting information to Oracle Subledger Accounting. (Choose three.) Oracle Assets Oracle Leasing Oracle Inventory Oracle Receivables Oracle Procurement.
Identify three processes that you must run before closing your Payables period. (Choose three.) Expense Report Export The Create Accounting program Payables Open Interface Import Period Close Exceptions Report The Transfer Journal Entries to GL program.
Identify the statement that reflects the functionality of the Create Accounting Process. The Create Accounting Process creates subledger accounting entries. You can use the Create Accounting Process to create subledger accounting entries and
validate the invoices The Create Accounting Process is used to create subledger accounting entries and transfer the transactions to General Ledger The Create Accounting Process is used to create subledger accounting entries, and transfer and post the transactions to General Ledger.
Identify three functions that the Create Accounting program provides. (Choose three.) validates and creates subledger journal entries generates the Posted Journal Report for subledger journal entries transfers final journal entries in the current batch run to General Ledger applies the application accounting definitions that are created in Accounting Builder (ABM) allows you to update final journal entries before the Transfer to General Ledger process is run generates the Subledger Accounting Program Report, which documents the results of the
Create Accounting program.
When reviewing the Accounts Payable Trial Balance Report for a period, a user notices that the remaining balance for an invoice is negative. What is the reason? The invoice was overpaid The invoice was never accounted for. The invoice was moved to the next period The payment for that invoice was recorded in a GL period before the GL period of invoice
Which three reports can be used to reconcile Payables activities to General Ledger? (Choose
three.) Supplier Payment Report Posted Payments Report Cash Clearing Account Report Accounts Payable Trial Balance Report General Ledger Account Analysis Report.
ABC Corporation has closed their APR-XX accounting period. The APR-XX period started on 27-MAR-20XX and ended on 26-APR-20XX. To ensure that all accounting from APR-XX has been sent to General Ledger, they must run two Trial Balance Reports, the Posted Invoice Register, and the Posted Payment Register. What dates must be used to run Accounts Payable Trial Balance Reports? one run for 26-MAR-20XX and one for 26-APR-20XX one run for 01-APR-20XX and one for 30-APR-20XX one run for 27-MAR-20XX and one for 26-APR-20XX one run for 31-MAR-20XX and one for 30-APR-20XX.
As part of its closing process, XYZ Corporation reviews receipt accruals. Occasionally, Payables
matches incorrectly, and therefore they find that some perpetual accruals never clear, leaving
reconciliation items on their accrual reports. Which two actions can they perform to solve the
problem? (Choose two.) Reverse the invoice distributions and rematch if possible. Run the Uninvoiced Receipts Report to identify the receipt accrual that has not cleared and
create a manual journal entry in General Ledger to clear the receipt from the report Run the Matching Hold Detail Report to identify the receipt that has not cleared and use the
Write-Off window to remove the item from reappearing on subsequent reports. Create a manual journal entry in General Ledger to clear the accrual Run the Accrual Rebuild Reconciliation Report to identify the receipt accrual that has not
cleared and use the Write-Off window to remove the item from reappearing on subsequent
reports. Create a manual journal entry in General Ledger to clear the accrual.
At your client site, the Payables period-close processes have been performed. The Payables
transfer to GL has been completed, and the resulting journal entries have been posted to GL. The current Payables period has been closed. The Accounts Payable Trial Balance (last day of prior period) + Posted Invoices - Posted Payments equals the Accounts Payable Trial Balance (last day of current period).
However, the balance in the AP liability account in GL for the current period does not equal the
Accounts Payable Trial Balance (last day of the current period). What is the possible reason? Inventory has not closed for the current period. Purchasing has not closed for the current period Period-end accrual journals have been reversed in GL. Manual journals have been posted to the AP liability account in the current period in GL.
In the accrual process for perpetual accruals, which two events generate accounting entries that can be transferred to GL? (Choose two.) processing a receipt entering a purchase order running the period-end accrual program entering invoices and matching them in Payables.
In the accrual process for period-end accruals, which two events generate accounting entries that can be transferred to General Ledger? (Choose two.) processing a receipt entering a purchase order running the period-end accrual program entering invoices and matching them in Payables.
Where do you define the attribute that determines whether you will accrue expense items at
receipt or at period end? System Options Financial Options Financial Options Purchasing Options Payables System Setup Options.
Identify three key accounts to be considered during the implementation of Payables that impacts the reconciliation of the accounts payable liability accounts. (Choose three.) AP liability account accrual charge account receiving accrual account accrued Payables account receiving inventory account expense AP accrual account inventory AP accrual account.
Identify two implementation considerations that impact Payables during the closing process.
(Choose two.) Determine how often you will run the Transfer Journal Entries to GL process. Determine the number of clearing accounts to use for Projects, Assets, and Cash Management. Choose the detail option to transfer details to General Ledger during the Create Accounting
process. Review the scheduling of the Create Accounting process to ensure that this is processed before processing pay runs Review the scheduling of the Mass Additions Create process to ensure that this is processed before the Create Accounting process.
At your client site, under Payables Options, the Transfer to GL option has been set to Summarize
by Accounting Period. The period-end close processes for AP have run and the Payables journals
(purchase invoices and payments) have been created and posted in GL. Which statement is true? It is not possible to drill down from GL to Payables It is possible to drill down from journals of categories purchase invoices and payments in GL to Payables. Drilldown from the journals of category purchase invoices in GL is possible, but not drilldown
from journals of category payments Drilldown from the journals of category payments in GL to Payables is possible, but not
drilldown from journals of category purchase invoices.
Where does the expense AP accrual account used in the Period End Accrual process default
from? Financial Options Payables Options Receiving Options Purchasing Options.
Identify three prerequisites for the Payables period-close process. (Choose three.) resolving holds reconciling bank statements updating matured bills payable completing all receipt processing confirming or canceling all pay runs making adjustments to supplier invoices interfaced to Projects.
Your client, Company A, has these requirements:
1. Asset invoices are entered in the Payables daily, but assets are transferred to Oracle Assets only once per week.
2. Payables journal entries have to be transferred to GL at least once per month for reporting
3. Oracle Projects balances must be updated once every month.
4. Payment batches must be processed daily.
On the basis of the above requirements, what would be the minimum recommended frequency of running the Transfer to GL program? daily weekly monthly once every two weeks.
Which key process is considered as a prerequisite for Transfer Journal Entries to GL Process? Invoice Register Create Accounting Invoice Audit Listing Payables Posted Payment Register.
To enter manual tax lines on invoices, enable manual tax options in E-Business Tax. Select three setup options for manual tax lines. (Choose three.) Regime Event Class Regime, Tax Configuration Owner Tax - Controls and Defaults Regime, Tax, Tax Jurisdiction.
To enter manual tax lines on invoices, enable manual tax options in E-Business Tax. You can set these options at the Event Class, Configuration Owner, or Tax level.
Under the manual tax options (Event Class, Configuration Owner, or Tax level), which common
capability is found? Allow Tax Recovery Allow Withholding Tax Allow Manual Tax Only Lines Allow Entry of Manual Tax Lines Allow Override for Calculated Tax Lines Allow Recalculation for Manual Tax Lines.
You are in the Tax Lines Summary window and you update the calculated tax amount of one of
the taxable distributions. You must also adjust _____. the number of invoice lines the total header invoice amount the amount of another distribution the self assessed taxes in the Tax Details window.
Select the income tax report that is NOT available in the Payables module. Withholding Tax by Invoice Withholding Tax by Supplier Withholding Tax by Payment Withholding Tax by Supplier Site.
Select the Apply Withholding Tax Payables option that must be set to submit the Withholding Tax by Invoice Report At Payment Time Allow Force Approval Allow Online Validation At Invoice Validation Time.
Tax Content Services store and maintain the master and reference data that are needed to
support the other components in E-Business Tax. You use the E-Business Tax application to
model details about the tax setup for all your company tax requirements. Identify the two that are NOT a subcomponent of Tax Content Services. (Choose two.) tax jurisdictions tax condition sets basic tax configuration determining factor sets country default controls exemptions and exceptions.
Identify three E-Business Tax setup options. (Choose three.) set up supplier set up tax regimes set up tax recovery rates set up taxes and tax rates set up currency exchange.
Identify three statements that are true about E-Business Tax and Payables. (Choose three.) In E-Business Tax, tax calculations are based on supplier's site defaults. In E-Business Tax, there is one repository with detailed and fully allocated tax lines. Payables is not integrated with E-Business Tax to provide tax services for invoices. With E-Business Tax, you can account for recoverable taxes at the time and to the extent of payment in Payables Payables integrates with E-Business Tax to automatically determine and calculate the
applicable tax lines for the invoices.
Identify three statements that are true for E-Business Tax. (Choose three.) E-Business Tax transactions are strictly controlled and cannot be changed. E-Business Tax provides seeded tax registration types for local organizations E-Business Tax provides a single point solution for managing your transaction-based tax
requirements E-Business Tax provides a common model for setting up tax data for tax determination and tax calculation. E-Business Tax uniformly delivers tax services to all E-Business Suite business flows through one application interface.
Payables leverages E-Business Tax to set up, calculate, and manage transaction taxes, such as Sales, VAT and Offset taxes. Which two taxes are NOT calculated and managed by Payables? (Choose two.) excise property customs duty vehicle license recoverable tax.
When you validate an invoice in Payables, E-Business Tax automatically performs four tasks.
(Choose four.) creates distributions recalculates tax lines allocates tax amounts places tax-related holds on the invoice updates imported invoices into Payables.
To manually enter tax details for an item, freight, miscellaneous, or prepayment lines, you must
complete seven fields. Name three. (Choose three.) industry tax amount tax regime commodity supplier site.
To set up Offset Tax under the Tax Configuration tab, which Tax Configuration tab must you select to locate and enable "Set as Offset Tax"? taxes tax rules tax rates tax statuses tax regimes.
E-Business Tax calculates the amount of tax that is recoverable on the basis of the tax setup. To implement accrual-based accounting recoverable tax, four setups are needed. (Choose four.) Enable "Set as offset tax." Enable "Allow tax recovery." Set the default recovery settlement option to "Deferred." Define tax accounts, tax expense, recoverable tax, and interim tax Enable the default recovery settlement options at the regime, tax, tax status, or tax rate levels.
Self-assessed tax amounts are taxes that you are liable for, but do not appear on the invoice, such as use tax. To use self -assessed taxes, enable the Set for Self Assessment/Reverse Charge option when you define the _____ in the Party Tax Profile set allow tax recovery tax registration information recoverable tax information set allow manual tax only lines.
Identify three statements that are true about the withholding tax process. (Choose three.) Tax is automatically calculated at any calculation level. The withholding tax process is a part of Cash Management Payables automatically generates withholding tax invoices to pay tax authorities Payables calculates withholding taxes on invoices during the invoice validation process or
during the payment calculation If the withholding tax is calculated during the invoice validation process, the taxable amount
withheld is the gross amount.
Identify three statements that are true for setting up withholding tax for a supplier and supplier site. (Choose three.) Withholding tax is an account distribution process. The withholding tax option can be overwritten at the invoice level. If a supplier does not allow withholding tax, you cannot allow withholding tax for any of the
supplier's sites. Payables defaults the withholding tax group from the supplier site to the invoice and then to
invoice distribution The Payables setup option, allow withholding tax, can make suppliers and supplier sites subject to withholding tax.
Assume that the withholding tax is calculated at the invoice payment time and the withholding tax
rate is 20%. Identify three statements with the correct withholding tax calculations. (Choose three.) invoice amount $500, withholding tax $100 (20% of $500) invoice amount $400, prepayment invoice for $200, withholding tax $4 (20% of $200) invoice amount $600, prepayment invoice for $100, withholding tax $12 (20% of $600) invoice amount $500, prepayment invoice for $250, withholding tax $50 (20% of $500 - $250) invoice amount $600, prepayment invoice for $100, withholding tax $100 (20% of $600 - $100).
Identify three statements that are true for creating the withholding tax for standard, recurring, and prepayment invoices. (Choose three.) The Withholding Tax Report is prepared by suppliers The Withholding Tax Group defaults in from the supplier or supplier site There can be multiple withholding tax codes with multiple tax authorities assigned to a group You can set up a special calendar to define periods that Payables uses for automatic
withholding tax. The Withholding Tax Invoice Description field does NOT include the invoice that the withholding tax invoice is associated with.
Identify three statements that are true for the automatic withholding tax process. (Choose three.) Withholding tax type distributions are negative amounts The Withholding tax group can be assigned only to an invoice distribution. Using automatic withholding tax, Payables creates the correct withholding tax distributions Withholding tax distributions are automatically created during invoice validation or during
payment processing If an invoice with an associated withholding tax invoice is canceled, Payables automatically
creates an invoice for the tax authority supplier to offset the amount of the withholding tax invoice.
Identify three statements that are true about processing automatic withholding tax invoices and
payments. (Choose three.) Withholding distributions for a paid invoice can be reversed. If an invoice is paid or partially paid, withholding distribution cannot be reversed Payables uses the supplier number as an invoice number for the tax authority's invoice. Withholding tax distributions are automatically created during invoice validation or payment
processing. Payables automatically creates a withholding type distribution when a withholding tax group is entered in the Invoices window.
Which types of invoices can be automatically generated (without any manual intervention), if the appropriate setup steps have been performed? (Choose three.) Interest Invoices Recurring Invoices Purchase order (PO) matched invoices Pay on receipt invoices Withholding tax invoices.
ABC.com's, European operations accrue all the expenses items on receipt (perpetual accrual)
without any exceptions. Which statement is true about the period close for payables and
purchasing? Purchasing has to close before payables Payables has to close before purchasing Closing of Payables automatically closes purchasing Payables and purchasing can close independently of each other.
ABC.com has these due dates for its invoices:
ABC.com has defined additional Pay through Days as 5. It is running a payment batch on 02-APR- 06.
Which invoices would be selected for payment? 2 Only 1 Only 1 and 2 1 and 3 1,2 and 3.
What are the three options available for the parameter ‘Transfer to GL interface’ when running the request ‘Payables Transfer to General Ledger’ ? (Choose three.) In Detail Summarize by Invoice Date Summarize by Payment Date Summarize by Accounting Date Summarize by Accounting Period.
When setting up financials and Payables options, which two options can only be defined if you
have Multi-Org enabled? (Choose two.) Accounting Tax Options Invoice Controls Payment Options.
ABC.com wants to create invoices for suppliers on the basis of purchase order (PO) receipts.
Which three steps should the company take in Payables? (Choose three.) Enable Gapless numbering Enable the invoice match option Enable pay on receipt at site level Submit the pay on Receipt Auto Invoice Program.
Which four lookups can be added with additional values at the time of implementation and also
after implementation? (Choose four.) Free on Board (FOB) Invoice Type Bank Branch Automatic Withholding Tax (AWT) Rate Type Automatic Withholding Tax (AWT) Certificate Types.
Which three programs submit their own reports, without any user intervention? (Choose three.) Invoice Matching Invoice Cancellation Payment Confirmation Expense Report Import Invoice Validation.
Why would you use the clearing payment method? To generate a payment document to clear a debit memo To generate a payment document to clear a credit memo To account for intercompany expenses when you disburse funds through banks To account for intercompany expenses when you do not disburse funds through banks.
You are working on an implementation for Accounts Payable. Many payments for small suppliers will be made outside of the system, but your client does not want to manually record them because that would be too time consuming. What would be the best solution? Create Electronic Payment batches using a check payment method for those multiple suppliers and destroy those checks Create electronic payment batches using an electronic payment method, such as Electronic
Funds Transfer (EFT), for those multiple suppliers and then do not send the resulting electronic file to the bank Create electronic payment batches using a clearing payment method for those multiple
suppliers, because this payment method does not generate a file Create electronic payment batches using a wire payment method for those multiple suppliers and then delete the resulting electronic file.
Which two statements are true regarding the Payables Options region in the Bank Account
Window? (Choose two.) You can Enter the Payables options information for supplier bank accounts The maximum Payment field controls the largest payment amount that you allow in a payment batch The maximum payment filed controls the largest currency outlay that you allow for a payment batch for this bank account The Minimum Payment field controls whether you would allow zero amount payments from this bank account If the bank account is a foreign currency or multiple currency account, realized gain and
realized loss accounts would be displayed by default in the Payables options window.
With which three modules does Oracle Payables have two-way integration? (Choose three.) Projects General Ledger Cash Management Oracle Purchasing Human Resources.
The period-close processes of which Oracle Applications can be directly affected by the Payables
period-close activities and processes? (Choose all that apply) Purchasing Installed Base Advanced Pricing Assets Enterprise asset Management (EAM).
What are three prerequisites for interfacing payables invoice lines with Assets? (Choose three.) There are no holds placed on the invoice The invoice must be posted to General Ledger The option ‘Track as Asset’ is selected in the Distributions from when entering an invoice The invoice has been transferred to General Ledger Distribution Account is Asset Clearing or CIP Account.
Which three statements properly describe the use of distribution sets? (Choose three.) You can assign a distribution set to an invoice when you enter it You can use full distribution sets to create distributions with no set percentage amounts You can use skeletal distribution sets to create distributions with set distributions amount You can use a distribution set to automatically enter distribution for an invoice when you are not matching it to a purchase order You can assign a default distribution set to a supplier site so Payables would use it for every
invoice you enter for that supplier site.
Which three reports can be used for identifying duplicate suppliers? (Choose three.) Supplier Report Supplier Audit Report Supplier Merge Report Supplier Listing By Supplier Name.
Which type of transaction uses the expenses clearing account defined in Financial Options? Expense Reports Credit Card Transactions Miscellaneous Expenses Expense-Related AP Invoices.
At the ABC.com site, Cash Management is installed along with Oracle Payables. The payables
option for payment accounting is set to account for a payment both on issue and clearing. The
cash clearing accounts and cash accounts are different. What accounting happens when a
payment is issued? Debit AP Liability, Credit Cash Clearing Debit AP Liability, Credit Cash Debit Cash Clearing, Credit Cash Debit Cash, Credit Cash Clearing.
When you use invoice Approval workflow, which setup options in the Payables options form are
related to invoices? (Choose three.) Allow Force Approval Use Invoice Approval Workflow Require Validation Before Approval Allow Document Sequencing Override Build Discount Accounts when matching.
ABC.com uses Oracle Purchasing and Payables only. The company would like to know the
Financial Options that it should set up it to provide defaults. Which three options would you
recommend? (Choose three.) Accounting Tax Options Human Resources Supplier Purchasing Encumbrance Options.
Which three statements are true regarding the setting up of a bank? (Choose three.) Each bank can have multiple branches Each branch can have multiple accounts Each account can be associated with multiple Payables payment documents and multiple
receivables payment methods Each account can be associated with only one payables payment document and receivables payment method Each account can be associated with multiple payables payment documents OR multiple
Receivables payment methods but not both.
Which two statements regarding receipt accruals are true? (Choose two.) For accruals generated at period end, the accrual is sent to General Ledger after the Receipt Accruals - Period End process is run and the accrual is cleared when the journal entry is reserved in General Ledger For accruals generated at receipt, the accrual is automatically sent to General Ledger and
subsequently cleared when the journal entry is reserved in General Ledger For accruals generated at period end, the accrual is sent to General Ledger after the Receipt Accruals – Period-End process is run and subsequently cleared when an invoice in entered and matched to the purchase order For accruals generated at receipt, the accrual is automatically sent to General Ledger and
subsequently cleared when an invoice is entered and matched to the purchase order.
You are working on a multi organization accounts payable implementation with
several payable entities. You client will not set up supplier bank accounts and will use payment
batch, quick payments and manual payments. Which payment methods can your client use?
(Choose that all apply) Clearing Check Wire Electronic.
The bank account in the Payment Batches and Payments window defaults from ___________. Supplier Level Bank Accounts Supplier Site Level Financial Options Payables Options – Payments region.
To process a payment you must complete __________. The payables accounting process Only the invoice validation process Only the create Accounting process Both the invoice Validation and Create Accounting processes.
Which three statements are true regarding voucher numbers and document sequences? (Choose three.) After you create and save a sequence, you can change it Assigning unique voucher numbers to documents is called document sequencing You can select a sequence of numbers that you would assign to a document category Document sequencing for all the documents you use in all your Oracle applications comes
automatically set up with your installation.
Which three events would cause accounting to be generated when the payables accounting
process is run? (Choose three.) Paying an invoice Validating an invoice Entering an purchase order Clearing a payment with Cash Management Delivering goods to a final destination when accruing receipts at period end.
From which three areas do the defaults come when you enter a supplier? (Choose three.) Items Operating Unit Financial Options Payables Options Receiving Options.
The transaction Sweep Report generated as part of the payables close process shows some
payments. What are the possible reasons? (Choose all that apply.) The payments were voided The checks associated with the payments were not printed One or more of the invoices paid by the payments were not accounts The cash account code combination of the payments has been disabled The suppliers for which the payments have been made have deactivated.
ABC.com wants to provide transparency in its Accounts Payable (AP) operations to its
counterparts within the purchasing, Fixed Assets and General Ledger departments. Several complaints have surfaced regarding issues with IP process times and help up payments. The AP department must strictly adhere to accounting regulations about segregating job functions while trying to meet this requirement. Which task should be performed to make this possible? Give access to all AIP forms and reports Give AP inquiry-only access, only though Oracle responsibilities Implement a Web-based version of Oracle AP that allows Web viewing of AP information Create custom inquiry forms for them to view invoices and payments but not supplier
information Change the profile options to allow unrestricted viewing of the AP data in PO and GL so that the staff from these other areas do not have to log in to AP.
The purpose of the Unrealized Gain / Loss Report is to review unrealized gains and losses on
_____________. All invoices Foreign currency invoices All invoices due to inflation effects All invoices due to inflation effects All invoices due to changes in the AP setup.
ABC.com has closed its APR-XX Accounting period. The APR-XX period started on 27-MAR-20-20XX and ended on 26-APR-20XX. It has run the posted invoice register, the posted payments register and two accounts payable trail balance reports (as of 30-MAR-20XX and 30-APR-20XX). Unfortunately, the accounts do not balance. Which two actions should be taken? (Choose two.) Check to make sure that all invoices for the period are paid Check the dates on the accounts payable Trail Balance reports Check to ensure that invoice and payment journals are posted in General Ledger Check to make sure that there are no unaccounted transactions in APR-XX by using the
Unaccounted Transactions report.
1. Asset invoices are entered in AP daily, but assets are transfered to Oracle Assets only once a week
2. Payables Journal entries have to be transfered to GL at least once a month for reporting purposes
3. Oracle Projects balances have to be updated once every month
4. Payment batches need to be processed daily
ABC.com has the following requirements:
1.Asset invoices are entered in AP daily, but assets are transferred to Oracle Assets only once a week
2.Payables Journal entries have to be transferred to GL at least once a month for reporting
3.Oracle Projects balances have to be updated once every month
4.Payment batches need to be processed daily
Based on the above what would be the minimum recommended frequency of running the Transfer to GL program? Daily Weekly Monthly Once very two weeks.
Which two methods would you recommend for preventing the creation of duplicate suppliers?
(Choose two.) Run the Vendor Audit Report Recommend standard naming conventions for suppliers Recommend standard naming conventions for suppliers Query the supplier in the supplier form before creating a new supplier.
Multiple Reporting Currencies (MRC) has been enabled for your client Company A. Which method
would you recommended to your client for transferring accounting entries to GL using the
payables transfer to GL process? Transfer to GL with journal import for the primary set of Books. Repeat the process for each Reporting set of books individually Transfer to GL with Journal import for the primary set of books and all associated Reporting
sets of books together Transfer to GL without journal import for the primary set of books. Submit journal import for the primary set of books. Repeat these steps for each reporting set of books Transfer to GL without journal import for the primary set of books and all associated reporting sets of books together. Submit Journal import from GL for the primary set of books and all associated reporting books together.
At ABC.com's site, under payables options, the transfer to GL option has been set to summarize by accounting period. The period end close processes for accounts parable have run and the payables journals (Purchase invoices and payments) have been created and posted in General Ledger. Which statement is true? Drilling down from the journals of purchase invoices and payments categories in GL to
payables is possible Drilling down from the journals of the payment category in GL to payables is possible, but
drilling down from journals of the purchase invoices category in GL to payables is not possible Drilling down from the journals of the purchase invoices category in GL is possible but drilling down from journals of the payments category in GL to payables is not possible Drilling down from GL to payables is not possible.
One of your clients makes this statement during an AP meeting: Prepayments can be applied to
Expense Report. What is your response? Yes, if you make a schedule prepayment Yes, but only if you set the correct profile option to do so No, because prepayments can only be applied against invoices Yes, you can prepay both invoices and expense reports No, because prepayments can only be applied against invoices that ser set up to handle
In the accrual process for Period End Accruals, which two events generate accounting entries that can be transferred to General Ledger? (Choose two.) Processing a receipt Entering Purchase Order Entering invoices and matching them in payables Running in Period End Accrual Program.
Which three methods can be used to enter invoice distributions? (Choose three.) Using a distribution set Matching an invoice to a receipt Entering manually in the Distribution window Using the Distribution Open interface.