1z0-335 | Renovate 1z0-335 Exam Study Guides With New Update Exam Questions
Q31. When running the delinquency process for a customer, the business unit for which you want to run the process is NOT appearing in the drop down menu. Identify the action you need to take.
A. Click on the Settings button to apply the appropriate settings so that the business unit appears in the chop down menu.
B. Click the check box to enter the default business unit if it is NOT appearing in the drop down menu.
C. Only the business units the user has access to will appear in the list of values. Modify the security options to provide access to the user.
D. The business unit is NOT a required option In the Parameters tab to run the delinquency process.
Answer: C
Q32. You can click the manager Invoice Lines from the Billing Work Area to find Autoinvoice Exceptions. What parameters are used to summarize the exceptions for review?
A. Business Unit, Transaction Type, Invoice Date, Currency
B. Business Unit, Customer Name, Transaction Source, Total Amount
C. Business Unit, Transaction Source, Creation Date, Currency
D. Business Unit, Transaction Source, Transaction Type, Creation Date
Answer: C
Explanation: Reference: Fusion Applications Help, AutoInvoice Interface Table RA_INTERFACE_LINES_ALL
Note 1: AutoInvoice Exception Handling
Records that fail validation are called ‘Exceptions’
Exceptions stay in Interface Tables which is RA_INTERFACE_ERRORS_ALL Errors can be corrected in the Exception Handling window
Once corrections are made, Auto invoice must be resubmitted Records that pass validation get transferred to Receivables tables
Note 2: Auto Invoice is a tool that can be used to import and validate transaction data from other financial systems from which one can create invoices, debit memos, credit memos, and on-account credits. It rejects transactions with invalid information to insure the integrity of the data
Q33. Where are the alerts and approvals displayed in the Collection Work Area?
A. Delinquent Customer List Region
B. Activities List
C. Watch list
D. Notification Pop-up
Answer: B
Q34. What is true about the aged dunning method?
A. Aged dunning sends dunning letters based on the age of the oldest translation and the number of days since the last letter was sent.
B. Aged dunning sends dunning letters based on the age of the oldest transaction.
C. The content of the dunning letter will NOT change as the oldest aged transaction moves into next aging bucket.
D. Multiple aged dunning letters are sent to the same customer who has more than one delinquent transaction.
Answer: B
Explanation: Companies sending collection letters to their customers based on the oldest aged transaction can use the Aged Dunning method. Delinquent transactions are identified automatically when the Delinquency Identification concurrent process is run. Preconfigured dunning notice templates are available, or the deploying company can create their own dunning notice templates. As the oldest aged transaction moves into the next aging bucket, the content of the dunning letter can change. A single consolidated letter can be sent to eliminate sending multiple aged dunning letters to the same customer who has more than one delinquent transaction. The templates are associated to aging buckets in the dunning configuration process.
Reference: Oracle Fusion Applications Financials Implementation Guide, Aged Dunning Method
Q35. Your company has three sites defined in the system site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and site 2 at the account level. How will bills be generated?
A. Sites l and 3 activities will be included in a single bill.
B. Sites 1 and 2 activities will be included in a single bill.
C. Sites 2 and 3 activities will be included in a single bill.
D. Sites 1, 2, and 3 activities will be included in a single bill.
Answer: B
Explanation: Bill Consolidation at Account or Site Level
You can generate bills consolidated at either the customer account or site level:
* Account-level balance forward billing lets you generate one bill for each business unit of the customer account, addressed to the primary bill-to site of the account.
* Site-level balance forward billing lets you generate a balance forward bill for each bill-to site of a customer with multiple bill-to sites.
* You can exclude a site from a balance forward bill by disabling balance forward billing on the customer profile of the site.
Reference: Fusion Applications Help, Balance Forward Billing: Explained
Q36. Which two setups are valid when setting up bills receivable remittances?
A. In the Bills Receivable Receipt method, if the number of bills receivable rule is One Per invoice, One Per Payment Schedule, One per Site, or One Per Site Due Date, a primary drawee site is not required, but the customer bill-to-site must also be a drawee site. These rules can group transactions if there is no bill-to-site defined as drawee site.
B. In the Bills Receivable Receipt method, if the number of bills receivable rule is One Per Customer, One Per Customer Due Date, at least one customer must contain an active drawee site that is defined as primary. These rules can group transactions from different customer sites with no site defined as primary.
C. Transaction type is mandatory for the Bill receivable Receipt method if the creation method is Bills Receivable Remittance.
D. Transaction type is mandatory for the Bill receivable Receipt method if the creation method is Bills Receivable.
E. In the Bills Receivable Receipt method, if the number of bills receivable rule is One Per invoice, One Per Payment Schedule, One per Site, or One Per Site Due Date, a primary drawee site is not required, but the customer bill-to-site must also be a drawee site. These rules cannot group transactions if there is no bill-to-site defined as drawee site.
Answer: C,E
Q37. A few transactions have resulted in an error during the Autoinvoice import process. What should use to correct these transactions?
A. Manage Transactions
B. File Based Data import
C. ADFDI
D. Incomplete Transactions
Answer: A
Q38. Which statement is TRUE regarding Time Zone Derivation Rules for Transactions?
A. Time zone conversion applies to the transaction date and adjustment date and NOT the accounting date on transactions.
B. Time zone is derived from the legal entity associated ONLY lo the default, business unit of the transaction.
C. If there is a legal entity associated with the business unit used on the transaction, then the system date is used.
D. Time zone rules apply to invoices, credit memos, on account credit memos, debit memos, chargebacks, and adjustments.
Answer: D
Explanation: Reference: Fusion Applications Help, Legal Entity Time Zones in Receivables: Explained
Q39. Select two values that are set up in Correspondence Configuration.
A. Dunning letter options
B. Dunning configuration set
C. Exclude from dunning
D. Rerun the dunning process
Answer: A,B
Explanation: Configure dunning plans and letters to facilitate regular correspondence with your customers. All of the following options except rerun the dunning process are created in the Correspondence Configuration in Functional Setup Manager.
The following are Dunning features:
✑ Dunning letter options
✑ Delivery options for dunning letters
✑ Dunning configuration set
✑ Dunning transactions
✑ Rerun the dunning process
Reference: Oracle Fusion Applications Financials Implementation Guide, Customer Dunning Configuration: Points to Consider
Q40. A customer calls into the Accounts Receivables Department asking for the balance of all invoices due in the next 30 days and has a question about a specific invoice line. As a Billing Specialist what action will you perform?
A. Search for the information in the Review Customer Account Details user interface.
B. Apply, reverse, or process the receipt.
C. Create an open debit memo.
D. Review receipt-, in pending status
Answer: A
Explanation: The contextual area of the Review Customer Account Details page displays information about the most recent transaction and the most recent receipt belonging to the selected customer account. If there were multiple transactions or receipts on the same date, Oracle Fusion Receivables displays the transaction and receipt with the largest amount.