Oracle Fusion Financial Payables Certification:1Z0-1055-20

Question 104

Identify two points to be considered when setting up the Accounts Payable to General Ledger

Reconciliation.

 

Options: -

A. Configuring Data Security

B. Configuring User Security

C. Payables System Setup

D. Assigning a Payables Category

E. Assigning a Financial Category

 

Answer: B & E

Answer Explanation:

Consider these points when setting up for Oracle Fusion Payables to general ledger reconciliation.

Reconciling by Business Unit or Ledger

Assigning a Financial Category

Setting the Reconciliation Data Purge Frequency Profile Option Configuring User Security

Note: Periodically, you need to reconcile the transactions in your accounts payable application, both before and after you post to the general ledger. The Payables to General Ledger Reconciliation extract and report help to simplify this process and reduce the amount of manual reconciling activity required.

The automated activities in the reconciliation process function according to the way you have set up your Financials environment. A review of some of these setups can help improve the overall reconciliation process.

 

Oracle Fusion Financial Payables Certification:1Z0-1055-20

Question 105

A company has implemented the Supplier Portal without the invoice approval workflow. When a supplier enters an invoice without a purchase order match, what is the status of the invoice request?

 

Options: -

A. Incomplete

B. Complete

C. In Process

D. In Progress

E. Invalid

 

Answer: C

Answer Explanation:

I Supplier users can enter an invoice without a PO, but if the approval workflow for their customer (Oracle Applications user) is not implemented, the status of that invoice request will remain IN PROCESS and will not change.

 

Question 106

What invoice approval status is required to apply the invoice approval action Hold from Approval?

 

Options: -

A. Initiated

B. Required

C. Rejected

D. Held from Approval

E. Resubmit for Approval.

 

Answer: B

Answer Explanation:

To delay the approval process for an invoice, select the Hold from approval action. You can select this action when the Approval Status on an invoice is Required. The Approval Status on the invoice is updated to Held from approval. The invoice still requires approval before it can be paid, and you must initiate approval for the invoice at a later time.

Reference; Oracle Fusion Applications Procurement, Payables, Payments, and Cash Guide, Hold from Approval.

 

Question 107

Which three tasks are performed during the expense report reimbursement process?

 

Options: -

A. Approval of expense report.

B. Defining expense policies and rules.

C. Creation of payables documents.

D. Transfer of data to the payables open interface.

E. Attachment of receipts supporting expense reports.

 

Correct Answer: A, C & E

Answer Explanation:

The Process Expense Report Reimbursement process also checks whether expense report holds can be released. Payment holds are released in the following ways:

* The expense auditor manually releases the payment hold at his discretion on the Audit Expense Report page by selecting the Release Hold option on the Actions menu.

* Based on receipt status, Expenses detects that receipts are received or waived and automatically releases the payment hold.