1z0-335 | 10 Tips For Leading 1z0-335 exam dumps


Q1. Identify two late charge interest calculation methods.

A. Average Daily Balance

B. Overdue Transactions

C. Adjusted Balance

D. Previous Balance

Answer: A,B

Explanation: Interest Calculation Methods

You select the calculation method in the Late Charge Calculation Method field in the Credit Limits and Late Charges tab of the Customer Profile Class pages, or on the applicable customer or customer site profile.

The interest calculation methods are:

Average Daily Balance: Calculate late charges based on the average daily balance of overdue invoices. This method is for balance forward bills only.

Late Payments Only: Calculate late charges based on the number of days between the payment due date and the actual payment date. This method uses the paid amount as the overdue invoice amount when calculating the late charge.

Overdue Transactions Only: Calculate late charges for transactions based on the number of days a payment is late when you submit the Create Late Charges program.

Overdue Transactions and Late Payments: Calculate late charges on both overdue transactions and late payments. This option levies the largest late charge amount on a customer.

Reference: Late Charge Interest Calculation Methods: Explained

Q2. You have created an Invoice with an incorrect unit price. You need to perform the Rebill task from the Manage Transactions user interface to enter the correct transaction. Which two actions does the Manage Transactions user interface allow you to perform for the Rebill task?

A. Duplicate the original transaction.

B. Create a credit memo.

C. Incomplete the transaction.

D. Reverse the Transaction.

E. Correct the unit price.

Answer: A,B

Explanation: When do I credit and rebill a transaction?

Sometimes the simplest way to manage a credit transaction is to credit and rebill. You credit the entire balance of an invoice (B), duplicate the original invoice (A) and update the duplicate with the correct information, then resubmit to the customer.

Common scenarios for credit and rebill include:

A customer indicates that an invoice does not reflect the correct price of a product or service. The customer requests a new invoice with the correct information.

A customer wants to correct their accounting directly in the subledger, instead of making a manual journal entry in general ledger. With credit and rebill, the credit memo reverses the accounting of the original invoice, and the updated duplicate invoice creates new accounting for posting to general ledger.

The customer wants to change the bill-to information on a posted transaction. Reference: Oracle Fusion Applications Order Fulfillment, Receivables, Payments, Cash,

and Collections Guide, When do I credit and rebill a transaction?

Q3. A Receivables Manager wants to override the receipt remittance bank account with the remittance batch bank account. Select three valid setups that will enable an override of the receipt remittance bank account.

A. Enable the Allow Override option on the receipt.

B. Both the receipt and remittance batch bank account should have different General Ledger at accounts defined.

C. Enable the Ignore the Override option on the remittance batch.

D. Enable the Override Bank option on the receipt remittance bank.

E. Disable the Ignore Override option on the remittance batch.

Answer: A,D,E

Explanation: At remittance time, Receivables lets you override a receipt's remittance bank account with the remittance batch bank account. Three options control system behavior:

* The Override option on the receipt

* The Override Bank option on the receipt's remittance bank

* The Ignore Override option on the remittance batch

Reference: Oracle Receivables User Guide, Overriding the Receipt Remittance Bank

Q4. 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

Q5. What are the three validation steps required for implementing dispute processing?

A. Transaction types are set up with appropriate Credit Memo types.

B. Periods for which the transaction can be disputed are Open.

C. The Document Sequencing required is set up.

D. BPM Work List for approval configuration is validated.

E. The Recognize Revenue program is scheduled.

Answer: A,B,D

Explanation:

Note:

* Processing a collections dispute allows the collector to record and request a dispute based on various sections of the customer's transaction. The dispute

process allows the collector to select a transaction, along with the appropriate section and reason for the dispute, then submit the dispute for processing. The dispute is forwarded to the appropriate levels of approval in the BPM Worklist Credit Memo Request Approval process. If the dispute is approved, the appropriate credit memo is created automatically. You can only submit one dispute at a time.

* AutoReceipts include dispute items option: Use this option on the customer or site profile to determine whether to include open items in dispute during transaction selection

Reference: Oracle Fusion Applications Order Fulfillment, Receivables, Payments, Cash, and Collections Guide, Processing Disputes: Overview

Q6. Identify the receivables system option that relates to customers.

A. Default country

B. Receipt Method

C. Automatic Site Numbering

D. Reciprocal Customer

Answer: B

Q7. 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

Q8. Select three values that the dunning letter generation program includes.

A. Invoice

B. Unapplied

C. Credit memo

D. Debit memo

E. Prepayments

Answer: A,B,D

Explanation: The Dunning Letter Generate program can include invoices, debit memos, chargebacks, unapplied, and on-account receipts that are overdue.

Reference: Oracle Fusion Applications Financials Implementation Guide, Dunning Transactions

Q9. Select a scenario that is NOT eligible for receipt reversal.

A. Reversing a miscellaneous receipt

B. Reversing a receipt applied to a transaction with a chargeback that has been posted to UK-General Ledger

C. Reversing credit card refund receipts

D. Reversing receipts that were applied to open receipts and both receipts have positive balance post reversal

Answer: B

Q10. When reversing a receipt, if an adjustment or chargeback exists, how are the off-setting adjustments created?

A. Manually using the Adjustment Reversal

B. Manually using Chargeback Reversal activities

C. Automatically using the Adjustment Reversal and Chargeback Reversal activities

D. Automatically, but WITHOUT using the Adjustment Reversal and Chargeback Reversal activities

E. Manually, but WITHOUT using Adjustment Reversal and Chargeback Reversal activities

Answer: C

Explanation: When you reverse a receipt, if an adjustment or chargeback exists, Receivables automatically generates off-setting adjustments using the Adjustment Reversal and Chargeback Reversal activities.

Reference: Using Receivables Activity Types