Oracle 1Z0-506 Online Practice Questions and Exam Preparation

Oracle 1Z0-506 Online Questions & Answers

• Question 31:

  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
  A. Dunning letter options
  B. Dunning configuration set

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  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

• Question 32:

  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
  B. Job Responsibilities

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  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

• Question 33:

  The default dunning contact name can be specified in the .

  A. Global Preferences in the Manage Collection Preferences
  B. Preferences in the Manage Collection Preferences
  C. Create Dunning Configuration in the Manage Dunning Configuration
  D. Dunning Configuration Details in the Manage Dunning Configuration
  B. Preferences in the Manage Collection Preferences

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  What's the difference between 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. Preferences can be set uniquely for a specific business unit. Preferences impact the default settings, such as preference set and default method to send notifications.

  Note:

  *

  Configuration of Collections Manager include: Set up Collections Manager to send dunning letters.

  *

  Selections made in the Preference region impact the defaults the collector encounters when going through the collection process. Preferences define the following Preference set Collections business level Summarize or age credits Default exchange rate Send method of dunning Default contact for unknown dunning recipients

  Reference:

  Oracle Fusion Applications Financials Implementation Guide, FAQs for Manage Collections Preferences

• Question 34:

  The Receipts Pending Application region in the Receivables Dashboard provides Information about which two Items?

  A. Receipt Status
  B. Batch type
  C. Control Amount
  D. Receipt Date
  E. Amount
  D. Receipt Date
  E. Amount

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  Note:

  * What is the total open receivables amount? This is the amount per currency of the amount in the Total Transaction Due Amount column less the amount in the Receipts Pending Application Amount column. This amount provides the current receivables position of a customer account.

• Question 35:

  What are the three ways a Dispute Request can be submitted?

  A. By a Collections Agent through the Advanced Collections application in the Customer Work Area
  B. By a Billing Specialist through the Billing Work Area
  C. By an Account Receivables Specialist through the Receivables Balances Work Area
  D. By a Billing Manager through the Transaction UI in the Adjustment Work Area
  E. By a Receivable Manager through the Reconciliation Work Area
  A. By a Collections Agent through the Advanced Collections application in the Customer Work Area
  B. By a Billing Specialist through the Billing Work Area
  E. By a Receivable Manager through the Reconciliation Work Area

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  A: Duties assigned directly and indirectly to the job role Collections Agent include: Collections Dispute Management duty: Allows user access to process disputes.

  B: Privileges granted to duties of the job role Billing Specialist include: Dispute Receivables Transaction

  E: Privileges granted to duties of the job role Accounts Receivable Manager include: Dispute Receivables Transaction

  Note: There are times when participants, their managers, compensation analysts, and compensation managers must create, track, and resolve disputes as part of the incentive compensation process. This effective dispute management

  includes automated notification to all involved parties.

  Reference:

  Oracle Fusion Applications Financials Security Reference Manual

• Question 36:

  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
  D. Business Unit, Transaction Source, Transaction Type, Creation Date

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  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

• Question 37:

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

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  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

• Question 38:

  What are the two parameters on which Collectors can create and save customer lists?

  A. Work Status
  B. Aging Bucket
  C. Currency
  D. Priority
  A. Work Status
  C. Currency

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  Note:

  *

  A collector is an individual or a group of individuals, assigned to a customer to conduct various collections work. Tasks include sending correspondence, reviewing customer history and collecting payment from customers. Prior to creating a collector, the individual must be set up as an employee in Oracle Fusion Human Resources and as a resource in Oracle Fusion Customer Relationships Management (CRM) applications.

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  Increase collectors' productivity with prioritized work lists and interactive work status that makes it easy for collection agents to spend more time collecting and resolving account payment issues and less time organizing their work

• Question 39:

  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
  C. Reversing credit card refund receipts

• Question 40:

  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
  D. Business Unit, Transaction Source, Transaction Type, Creation Date