NEW QUESTION NO: 45
Which three transaction types are used to generate late charges? (Choose three.)
A. Debit Memo
B. Interest Invoice
C. Credit Memo
D. Adjustments against the original transaction
E. Cash receipts
Answer: A,B,D
Explanation/Reference:
Explanation:
You can assess late charges against past due debit items for each customer, account, or site. The calculation of late charges is determined by your late charge policy. You can set up your policy to control various decisions, such as whether you assess late charges, and how those late charges are calculated.
Another step of the setup defines how you want to document your late charges and present them to the customer. The options are:
Debit Memos

Interest Invoices

Adjustments

References: https://blogs.oracle.com/ebs/learn-about-late-charges-functionality-in-receivables
NEW QUESTION NO: 46
The method that is used to capture receipts data in mass while you are offline and upload the receipts at a later date is called __________.
A. automatic receipts creation
B. Lockbox receipts creation
C. receipts creation in a spreadsheet
D. manual receipt entry
Answer: C
Explanation/Reference:
Explanation:
Receipts via Spreadsheet integrates with Microsoft Excel to efficiently capture Receipts data while offline in a field office. The spreadsheet can be later uploaded to the system to create receipt batches.
Incorrect Answers:
B: You can use lockbox to import and apply receipts when the currencies of the receipt and the transaction are different.
References: https://apps2fusion.com/oracle-fusion-online-training/fusion-applications/oracle-fusion- financials/fusion-financials-training/703-oracle-fusion-receivables-quick-bits-part1
NEW QUESTION NO: 47
You are the Billing Manager and you are responsible for reviewing adjustments and approving them.
Which two tabs are available in the Adjustments Overview Region on the Billing Work Area page? (Choose two.)
A. Pending My Approval
B. Pending Approval
C. Approved
D. Pending My Research
E. Pending Approval From Managers
Answer: A,D
NEW QUESTION NO: 48
The process of remitting receipts to a bank results in fund errors.
Identify three corrective actions to resolve this. (Choose three.)
A. receipt reversal
B. credit reversal
C. debit memo reversal
D. change of instrument
E. clearing payment information
Answer: A,D,E
Explanation/Reference:
Explanation:
You can resolve funds transfer errors resulting from exceptions returned by Oracle Fusion Payments using the available corrective actions.
The available corrective actions are:
Reverse Receipt

Change Instrument

Clear Payment Information

Retry

References: https://docs.oracle.com/cloud/farel8/financialscs_gs/FAOFC/F1113010AN18821.htm
NEW QUESTION NO: 49
What are the two locations where the system can look for Receipt Match By Value when Receivables applies customer payments automatically for manually created receipts? (Choose two.)
A. System Options
B. Customer
C. Receipt Method
D. AutoMatch Rule
Answer: A,B
Explanation/Reference:
Explanation:
Receivables searches for a Match Receipt By value, not Receipt Match By Value, to use for comparison in the order customer site, customer account, lockbox (for lockbox processing) and system options.
References: https://docs.oracle.com/cloud/farel8/financialscs_gs/FAOFC/F1113010AN18821.htm
NEW QUESTION NO: 50
Which two items are required for customer invoicing? (Choose two.)
A. Remit-to-address
B. Lockbox
C. Customers
D. Customer Profile Class
Answer: C,D
Explanation/Reference:
Explanation:
You can enter transactions with as little or as much information as you want. You can set up your system so that Receivables provides default values for most required transaction information.
Prerequisites:
Set up your customers. Define addresses, payment terms, receipt methods, collector, primary

salesperson, profile class, freight carrier and terms, and payment details for each.
Define customer profile classes, Oracle Receivables Implementation Guide. Assign primary

salesperson, bill-to location, collector, payment terms, late charge information, currency rates and limits.
Etc.

References: https://docs.oracle.com/cd/E18727_01/doc.121/e13522/T355475T382065.htm
NEW QUESTION NO: 51
Which three receipts can be automatically applied by a system? (Choose three.)
A. miscellaneous receipts
B. receipts that are manually created
C. receipts created in a spreadsheet and uploaded
D. receipts created in a lockbox and uploaded
E. receipts that are unapplied
Answer: B,C,D
Explanation/Reference:
Use the automatic receipt process to create a batch of receipts from selected transactions for payment by credit card or bank account transfer.
A: Can I manually enter an automatic receipt?
Yes, if the customer remits a manual document for a transaction that was to be paid for by automatic receipt, you can manually enter this as a standard receipt. You must select a receipt method assigned to a receipt class that has a creation method of Automatic and a remittance method of Standard, Factoring, or Standard and Factoring.
C: You can use Excel to upload/create/update AR Invoices, and also to create AR Receipts and apply Invoices.
D: You can use lockbox to import and apply receipts when the currencies of the receipt and the transaction are different.
Incorrect Answers:
A: Enter miscellaneous receipts to record cash received that is not related to receivables. This includes non-invoiced items, such as investments, interest, refunds, and stock sales.
E: An automatic receipt batch can only include complete transactions that contain customer payment details and have a receipt method belonging to a receipt class with an Automatic creation method. This applies to both imported and manually entered transactions.
References: https://docs.oracle.com/cloud/farel8/financialscs_gs/FAOFC/ F1113010AN18821.htm#F1112969AN19167
NEW QUESTION NO: 52
Your customer wants to override the calculated tax line amount for their receivable transaction.
What steps should the customer perform to ensure that only one of their employees has this privilege?
A. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and grant the employee the "Tax Manager <Business Unit>" data role.
B. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable application and create a tax rule to grant this privilege only to the selected employee.
C. Enable the "Allow tax rate override" and "Allow manual tax lines" profiles at the user level, set the value to Yes for the selected employee, and grant the "Tax Manager <Business Unit>" data role to the employee.
D. Set the "Transaction Tax Line Override" profile option to Yes for the selected employee and assign the employee the "Tax Manager <Business Unit>" data role.
E. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and set the "Transaction Tax Line Override " profile option to Yes for the selected employee.
Answer: B
Explanation/Reference:
Explanation:
Changing Existing Tax Line Information
These requirements apply to changing an existing detail or summary tax line:
The Allow Override for Calculated Tax Lines option is enabled for the applicable configuration owner

and application event class.
Etc.

References: https://docs.oracle.com/cd/E18727_01/doc.121/e13631/T439959T470305.htm
NEW QUESTION NO: 53
Your customer has a state tax of 20% and a city tax of 10% as non-inclusive tax rates that are applicable on a transaction line. Your invoice has two lines: Line1 with $600 USD and Line2 with $400 USD.
What will be the resulting tax and invoice amounts for your tax invoice?
A. state tax of $200 USD for the invoice, city tax of $100 USD, and an invoice total of $1,300 USD
B. state tax of $200 USD for the invoice, city tax of $10 USD, and an invoice total of $1,210 USD
C. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,000 USD
D. state tax of $166.67 USD for the invoice, city tax of $91.11 USD, and an invoice total of $1,257.78 USD
E. state tax of $166.67 USD for the invoice, city tax of $16.67 USD, and an invoice total of $1,184.34 USD
Answer: A
Explanation/Reference:
Explanation:
Receivables lets you enter and display transaction lines either inclusive or exclusive of tax. Tax inclusive indicates that the line amount for an item includes the tax for this item. Tax exclusive indicates that tax is not included in the line amount for this item.
References: https://docs.oracle.com/cd/A60725_05/html/comnls/us/ar/calctax.htm
NEW QUESTION NO: 54
A client has implemented a revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and an acceptance clause (100 days).
When will revenue be recognized?
A. immediately
B. after 60 days
C. after 100 days
D. only after manual intervention
Answer: C
Explanation/Reference:
Explanation:
Two time-based contingencies on the same invoice line
You enter or import an invoice for a creditworthy customer, and one of the invoice lines is associated with both a nonstandard refund policy (50 days) and an acceptance clause (120 days).
Receivables does not recognize revenue on this invoice line until the acceptance clause expires after 120 days. If, for example, you obtain written acceptance from the customer after 80 days, you can record early acceptance to allow revenue recognition.
References: https://docs.oracle.com/cloud/farel8/financialscs_gs/FAOFC/F1113011AN1CFB0.htm
NEW QUESTION NO: 55
You need to make decisions about how an application should behave, such as date ranges and defaults.
What should you consider before defining Collections Preferences?
A. scheduled processes
B. system privileges
C. user application privileges
D. customer contact information
E. the employees who are involved with the collections process and how the collectors will be assigned
Answer: A
Explanation/Reference:
Explanation:
Oracle Fusion Advanced Collections provides a user interface to guide you through the collection preferences. The two required setup regions are: Global Preferences and Preferences.
Global preferences affect the Collections Customer Work Area, such as display of closed or open transactions and setting date range parameters.
Selections made in the Global Preference region impact the view the collectors see from the Collections Customer Work Area and Collections Dashboard. Global Preferences define the following:
Default transaction class that appears

Display of open transactions

Display of closed transactions

Number of days for prior and future transactions to be displayed

Default aging method

Delimiter used to separate data and the number of characters required to do a search

References: http://docs.oracle.com/cd/E15586_01/fusionapps.1111/e20375/F569978AN6AE6F.htm