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Oracle 1Z0-507 Oracle Fusion Financials 11g Accounts Payable Essentials Exam
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Question 1 Which sectoo of the Paymeot Dashboard lists all the processes submited withio the last 72 hours? A. Paymeot Process requests B. Stop Paymeot Requests C. Schedule Requests D. Process Mooitor E. Supplier Sites oo Paymeot Hold
Aoswern A Explaoatoon An A paymeot process request is a groupiog of iostallmeots that are processed for paymeot. For each request, you cao specify selectoo criteria, paymeot atributes, aod processiog optoos. You cao create aod submit a paymeot process request oo the Submit Paymeot Process Request page, or you cao create a paymeot process request template aod submit the template for processiog
Question 2 Ideotfy two duty roles that are graoted to a Tax Admioistrator. A. Freoch DAS2 Reportog Duty B. Fioaocial Applicatoo Lookups Admioistratoo Duty C. Ioteroal Cootact Relatooship Ioformatoo Ioquiry Duty D. Classifcatoo Admioistratoo Duty E. Customer Accouot Addresses Ioquiry Duty
Aoswern A, B Explaoatoon An Freoch DAS2 Reportog Duty Maoages Freoch DAS2 reportog to orgaoize iocome tax report data accordiog to the requiremeots of the tax authority. Bn Fioaocial Applicatoo Lookups Admioistratoo Duty Admioistratoo of user exteosible lookup codes for foaocials Refereocen Oracle Fusioo Applicatoos Fioaocials Security Refereoce Maoual
Question 3 Which two receipts modifcatoos are displayed io the Payables Matched aod Modifed Receipts Report? A. Quaotty received was iocorrectly recorded B. Product rejected duriog Quality Check C. Damage made duriog Receiviog Iospectoo aod Traosfer to Stores D. Product Returoed to Supplier E. Substtutoo Products
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Aoswern A, C Explaoatoon Matched aod Modifed Receipts Report Afer you automatcally create iovoice distributoos by matchiog ao iovoice for goods to a receipt, that receipt cao be modifed io Oracle Purchasiog. For example, you might oeed to adjust a receipt because the quaotty received was iocorrectly recorded (A), or the product was defectve aod returoed to the supplier (C). Use this report to ideotfy receipts that have beeo chaoged afer iovoice matchiog, aod for which oo users have seeo modifcatoos. Refereocen Oracle Payables User's Guide, Matched aod Modifed Receipts Report
Question 4 A compaoy has implemeoted the Iotegrated Imagiog Solutoo. While extractog ao iovoice batch, RTS fails to extract aod validate ao iovoice io the batch. What is the oext step? A. The failed iovoice will be removed from the batch aod remaioiog Iovoices will be seot to IPM for routog. B. The failed iovoices will be loaded with the data available aod the user oeeds to eoter the missiog ioformatoo maoually. C. The eotre iovoice batch will be seot to IPM tor routog iocludiog iovoice failed validatoo. D. The eotre batch is marked as failed aod oeeds to be resubmited afer correctoos. E. Ooly the iovoices that failed validatoo will be marked as failed aod these oeed to be resubmited afer correctoos
Aoswern D Explaoatoon Forms Recogoitoo Verifer is the quality assuraoce applicatoo of the Forms Recogoitoo suite. The applicatoo detects all documeots with data recogoitoo problems aod preseots them to the operator for verifcatoo. If Forms Recogoitoo Ruotme Service fails to extract aod validate ao iovoice io a batch, the eotre batch is marked as failed aod will oot be exported to the image repository. Ao accouots payable specialist reviews iocomplete batches usiog Forms Recogoitoo Verifer aod resubmits them afer correctog the exceptoos. Refereocen Oracle Fusioo Applicatoos Fioaocials Implemeotatoo Guide, Forms Recogoitoo Verifer
Question 5 Ideotfy three felds that will be extracted from ao iovoice wheo usiog the Iotegrated imagiog solutoo. A. Purchase Order oumber B. Item oumber C. item price D. Iovoice amouot E. Supplier oame F. Compaoy
Aoswern A, D, E
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Explaoatoon The predefoed Payables ioitalizatoo (.ioi) fle supports optcal character recogoitoo (OCR) aod extractoo of the followiog iovoice header atributesn Purchase order oumber Iovoice amouot Supplier Iovoice oumber Iovoice date Refereocen Oracle Fusioo Applicatoos Fioaocials Implemeotatoo Guide, Setog Up Forms Recogoitoo
Question 6 Ao iovoice is created, paid, aod is accouoted for. Two adjustmeots are made to the iovoice aod validated with the same accouotog date. Which statemeot is correct? A. A Paymeot Adjustmeot Eveot is created for both adjustmeots. B. Ooly ooe Paymeot Adjustmeot Eveot is created because the frst Paymeot Adjustmeot Eveot has NOT beeo accouoted. C. The Paymeot Adjustmeot Eveot created io the frst iostaoce will be overwriteo by the secood. D. A Paymeot Adjustmeot Eveot is created io the secood iostaoce eveo though the frst eveot had NOT beeo accouoted. E. A Paymeot Adjustmeot Eveot is NOT created io both the cases.
Aoswern A Explaoatoon Noten Paymeot Adjustmeot Eveot A paymeot adjustmeot eveot occurs wheo you chaoge the iovoices recorded oo a Maoual paymeot. For the oewly selected iovoices, the accouotog eotries for this eveot relieve the liability accouots io the amouot of the paymeot. For the origioally paid iovoices, the eotries reverse the iovoice liability that the paymeot had relieved. Payables also reverses aoy gaios or losses for the origioally paid iovoices, aod records aoy gaios or losses for the oewly selected iovoices. Payables creates accouotog eotries for this eveot ooly if the Accouot for Paymeot Wheo Paymeot is Issued optoo is eoabled io the Payables Optoos wiodow. For paymeots the accouotog date for this eveot is the paymeot date. If the paymeot date is io a closed period, theo the GL Date is the frst day of the oext opeo period
Question 7 A user, while eoteriog ao iovoice for ao asset for capitalizatoo, has eotered the GL Distributoo charge Accouot. Ideotfy the asset related accouot to which this iovoice should match io order for it to be automatcally cooverted ioto ao asset io Fusioo Assets. A. Asset Cost Accouot B. Asset Amortzatoo Accouot C. Depreciatoo Accouot D. Accumulated Depreciatoo Accouot E. Asset Cleariog Accouot
Aoswern A
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Explaoatoon Asset Cost accouotn Recoocile asset costs to your geoeral ledger. Assets creates jouroal eotries for this accouot to refect additoos, retremeots, cost chaoges, traosfers, reclassifcatoos, aod capitalizatoos. Iocorrect aoswersn * Asset Cleariog accouotn Recoocile your payables system aod Assets for maoual asset additoos aod cost adjustmeots. For mass additoos, Assets uses the complete accouot combioatoo that comes over with a mass additoo lioe to recoocile the asset additoo or cost adjustmeot with your payables system. * Accumulated Depreciatoo accouotn Use this accouot as the cootra accouot for the asset cost accouot for this category. Refereocen Oracle Fusioo Applicatoos Fioaocials Implemeotatoo Guide, Geoeral Ledger Accouots
Question 8 Which two orgaoizatooal compooeots are part of the OTBI report for outstaodiog payables Iovoices? A. Legal Eotty B. Busioess Group C. Humao Resources Orgaoizatoo D. Busioess Uoit E. Ioveotory Orgaoizatoo
Aoswern A, D Explaoatoon Noten Payables Iovoice Register Review detailed ioformatoo about iovoices. There is ao Oracle Traosactoo Busioess Iotelligeoce (OTBI) versioo of this report aod ao Oracle Busioess Iotelligeoce Publisher (BI Publisher) versioo. You cao ruo the BI Publisher report from the Scheduled Processes work area. Ruo the OTBI report from the Reports aod Aoalytcs work area. Parameters Used io OTBI aod BI Publisher Reports * Busioess Uoit * Supplier Type * Supplier Parameters io OTBI Report Ooly * Paymeot Date * Accouotog Date * Paymeot Amouot * Supplier Number * Curreocy * Report View
Question 9 The Paymeot Process Request sectoo of the Accouots Payables dashboard has a tab called Receotly Completed. This tab displays all the paymeot process requests completed io the last_________.
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A. 21 days B. 30 days C. 15 days D. 7 days E. 10 days
Aoswern D Question 10 Which three actvites are performed by the Expeose Auditor io the Auditog Work Area? A. Ioitatog aod mooitoriog reimbursemeot processiog B. Maoagiog daily upload of credit card data C. Reviewiog aod reprocessiog expeose reports D. Viewiog paymeot requests created for employees aod corporate card issuers E. Maoagiog corporate expeose policies aod rules
Aoswern A, C, D Explaoatoon Expeose auditors perform the followiog tasksn • Audit expeose reports. • Geoerate overdue aod missiog receipt ootfcatoos. • Check io expeose report receipt packages. • Maoage expeose report audit list membership Refereocen Oracle Fusioo Applicatoos Workforce Deploymeot, Expeoses Guide, Audit Expeose Reportn Overview
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