1z0-335 | All About Virtual 1z0-335 pdf


Q21. The common subledger period close management UI allows the user to .

A. Manage the accounting period status.

B. Balance the entries after they are transferred to the general ledger .

C. Access all subledgers.

D. Bill and automate customer payments for adjustment approval processing

E. Transfer unbalanced entries to the general ledger.

Answer: A

Explanation: Reference: Oracle Fusion Applications Financials Implementation Guide , Period Close Components: Explained

Q22. An Invoice was billed incorrectly and the Billing Specialist has created an adjustment for the Invoice. The Billing Specialist submitted it for approval but it was rejected by the Billing Manager.

What is true in this scenario?

A. The adjustment is closed and the process is ended without any invoice or accounting impact.

B. The adjustment is routed back to the Billing Specialist for further action and is in the More Research status.

C. The adjustment is closed and the invoice balance is reduced by the adjustment amount.

D. The adjustment is routed back to the Billing Specialist with the Rejected status.

Answer: D

Q23. An invoice was created with unit price error on one invoice item. What is the next step you perform form the Billing Work Area to correct this error?

A. Click the Create Transaction link on the task pane and create a new transaction with the right unit price.

B. Click the Credit Transaction link on the task pane and create a credit memo for the transaction.

C. Click the Manage Transaction link on the task pane and create a credit memo for the transaction.

D. Click the Manage Adjustments link on the task pane and create an adjustment against the transaction.

Answer:

Explanation: Note:

How can I credit only part of the balance due on a transaction?

Use the Transaction Amounts region of the Credit Transaction page to enter a partial credit amount or percentage on line, tax or freight. The amount or percentage entered is prorated across all respective lines of the credit memo.

Q24. What are the three drilldown options available in the task pane for Receipt Remittance?

A. Create receipt remittance batch

B. Manage fund transfers

C. Manage receipt remittance batches

D. Apply credit memo

E. Lockbox transmission history

Answer: A,B,C

Explanation: A, C: Three settings control the override of a receipt remittance bank account with the remittance batch bank account.

These settings are:

Ignore override option on the remittance batch. Allow override option on the receipt.

Override bank option on the receipt remittance bank.

Reference: Oracle Fusion Applications Order Fulfillment, Receivables, Payments, Cash, and Collections Guide, Managing Remittances: Explained

Q25. A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on open Invoices, but some of the amounts have exceeded his approval limits, what will be the result?

A. The program creates adjustments only for the amounts within his approval limit

B. The program creates the adjustments with a status of Rejected for the amount that exceeds his approval limits.

C. The program creates the adjustments with a status of Pending Approval for the amount that exceeds his approval limits.

D. The program can only be run if the amount is within his approval limits.

Answer: C

Explanation: If you enter a remaining amount or percentage range that exceeds your adjustment approval limits, the program creates these adjustments with a status of Pending Approval. If the remaining amount or percentage range is within your adjustment approval limits, the program automatically approves these adjustments.

Note: Use the Create Automatic Billing Adjustments program to automatically adjust the

remaining balances of all open invoices, debit memos, credit memos, and chargebacks. Reference: Oracle Fusion Help, Automatic Adjustments: Explained

Q26. The communication information region in the customer account record is used to maintain what customer information?

A. Payment Instruments

B. Job Responsibilities

C. Account Relationships

D. Account Profiles

Answer: B

Explanation: Use the Communication region to maintain customer contact persons for a customer account. Information that you can maintain for each contact includes:

Name and job title.

Contact points, such as phone and fax numbers, e-mail and instant message addresses, and URLs.

Job responsibilities.

Addresses. You can either enter new addresses specific to the contact, or you can enter addresses of account sites belonging to the customer account.

Note:

Use the customer account record to maintain detailed information about each of your customer accounts.

There are these points to consider when entering and updating customer account information:

Payment Details Communication Information Account Relationships Account Profiles

Reference: Oracle Fusion Applications Financials Implementation Guide , Communication

Information

Q27. What is the name of the Work area that is used to access Functional Setup Manager?

A. Functional Work Area.

B. Functional Setup Manager

C. Customization Manager

D. Setup and Maintenance

E. Customize setup and Maintenance

Answer: C

Q28. The Accounts Receivable Specialist associated duty include which three duties?

A. Trading Community Hierarchy Management Duty

B. Receipt Creation Duty

C. Payment Settlement Management Duty

D. Receivables Accounting Duty

E. Import Payables invoices Duty

Answer: B,C,D

Explanation: B: Receipt Creation Duty

Processes receipt creation activities, including manual receipts, lockbox receipts, and automatic receipts.

C: Payment Settlement Management Duty

Manages funds capture authorizations, settlements, and settlement batches.

Note: Job Role: Accounts Receivable Specialist

Manages and implements all customer payment activities, including receiving customer payments and electronic remittance advices, performing cash handling activities, processing customer payments, and applying payments to customer accounts.

Reference: Oracle Fusion Applications Financials Security Reference Manual

Q29. Which two statements are true about creating and clearing receipts for bills receivable remittances?

A. For standard remittances, Receivables updates the status of the bills receivable to Closed by running the close Matured bills receivable program to create receipts and apply them to the bills receivable, either at the maturity date plus the number of collection days or at the remittance date plus the number of collection days, whichever is later.

B. For bills receivables that factored with recourse, the receipt is applied to short-term debt and the status of the bill is updated to paid.

C. For factored remittances, receivables creates a receipt when a remittance is submitted.

D. For bills receivables that factored without recourse, the receipt is applied is applied to the bills receivable upon remittance and the status of the bill is updated to Closed.

E. For factored remittances with the automatic clearing method, run the Automatic clearing program to clear receipts on the receipt date plus the number of collection days.

F. For standard remittances, Receivables updates the status of the bills receivable to Remitted by running the close Matured bills receivable program to create receipts and apply them to the bills receivable, either at the maturity date plus the number of collection days or at the remittance date plus the number of collection days, whichever is later.

Answer: A,C

Explanation: https://docs.oracle.com/cloud/latest/financialscs_gs/FAOFC/FAOFC1479830.htm Receivables creates a receipt for each bill receivable that is remitted to the bank. The bills receivable remittance receipt method for the remittance batch determines when a receipt is created. You create a receipt to record the accounting event of the expected funds transfer. The receipt creation process differs for standard and factored remittances:

✑ Standard remittances: Run the Close Matured Bills Receivable program to create

receipts and apply them to bills receivable, either at the maturity date plus the

number of collection days or at the remittance date plus the number of collection days, whichever is later. Receivables updates the status of the bill receivable to Closed when the receipt is applied to the bill receivable.

✑ Factored remittances: Receivables creates a receipt when a remittance is

approved. For bills receivable that are factored with recourse, the receipt is applied to short term debt and the status of the bill is updated to Remitted. For bills receivable factored without recourse, the receipt is applied to the bill receivable upon remittance and the status of the bill is updated to Closed.

Q30. Users can choose to EXCLUDE specific transactions in a Balance Forward Bill. Which statement is true about transaction exclusion?

A. Transaction exclusion can be done during creation of the transaction.

B. Transaction exclusion for a statement can be done at each transaction level.

C. Transaction exclusion can NOT be done during the creation of a transaction.

D. Transaction exclusion for a statement can be done at the individual transaction as well as the transaction group level.

Answer:

Explanation: Note:

* The Override terms option makes available to transactions non-balance forward payment

terms and the one balance forward billing payment terms you defined in the previous step. This lets you exclude individual transactions from balance forward billing by assigning the transaction non-balance forward payment terms.

* If the Override Terms option on the customer profile is set to Yes, then you can remove transactions from the bill by assigning these transactions non-balance forward billing payment terms.

These transactions are excluded from the next run of the balance forward bill. Instead an individual document is printed for each of these transactions.