A company has implemented the Integrated Imaging Solution. While extracting an invoice batch, RTS fails to extract and validate an invoice in the batch.
What is the next step?
Options: -
A. The failed invoice will be removed from the batch and remaining Invoices will be sent to IPM for routing.
B. The failed invoices will be loaded with the data available and the user needs to enter the missing information manually.
C. The entire invoice batch will be sent to IPM tor routing including invoice failed validation.
D. The entire batch is marked as failed and needs to be resubmitted after corrections.
E. Only the invoices that failed validation will be marked as failed and these need to be resubmitted after corrections
Answer: D
Answer Explanation:
Forms Recognition Verifier is the quality assurance application of the Forms Recognition suite. The application detects all documents with data recognition problems and presents them to the operator for verification.
If Forms Recognition Runtime Service fails to extract and validate an invoice in a batch, the entire batch is marked as failed and will not be exported to the image repository. An accounts payable specialist reviews incomplete batches using Forms Recognition Verifier and resubmits them after correcting the exceptions.
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| Oracle Fusion Financial Payables Certification:1Z0-1055-20 |
Question 113
Identify three fields that will be extracted from an invoice when using the Integrated imaging solution.
Options: -
A. Purchase Order number
B. Item number
C. item price
D. Invoice amount
E. Supplier name
Answer: A, D & E
Explanation:
The predefined Payables initialization file supports optical character recognition (OCR) and extraction of the following invoice header attributes:
Purchase order number
Invoice amount
Supplier
Invoice number
Invoice date
An invoice is created, paid, and is accounted for. Two adjustments are made to the invoice and validated with the same accounting date.
Which statement is correct?
Options: -
A. A Payment Adjustment Event is created for both adjustments.
B. Only one Payment Adjustment Event is created because the first Payment Adjustment Event has not been accounted.
C. The Payment Adjustment Event created in the first instance will be overwritten by the second.
D. A Payment Adjustment Event is created in the second instance even though the first event had not been accounted.
E. A Payment Adjustment Event is NOT created in both the cases.
Answer: A
Answer Explanation:
A payment adjustment event occurs when you change the invoices recorded on a Manual payment. For the newly selected invoices, the accounting entries for this event relieve the liability accounts in the amount of the payment. For the originally paid invoices, the entries reverse the invoice liability that the payment had relieved. Payables also reverses any gains or losses for the originally paid invoices, and records any gains or losses for the newly selected invoices.
Payables creates accounting entries for this event only if the Account for Payment When Payment is Issued option is enabled in the Payables Options window. For payments the accounting date for this event is the payment date. If the payment date is in a closed period, then the GL Date is the first day of the next open period
A user, while entering an invoice for an asset for capitalization, has entered the GL Distribution charge Account.
Identify the asset related account to which this invoice should match in order for it to be automatically converted into an asset in Fusion Assets.
Options: -
A. Asset Cost Account
B. Asset Amortization Account
C. Depreciation Account
D. Accumulated Depreciation Account
E. Asset Clearing Account
Answer: E
Answer Explanation: Validation: The account must be set up as an existing asset category, and it must be either an asset clearing account or a construction-in-process (CIP) clearing account.
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