[Free] 2018(Jan) EnsurePass Pass4sure Oracle 1z0-335 Dumps with VCE and PDF 21-30

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Oracle Financials Cloud: Receivables 2016 Implementation Essentials

Question No: 21

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?

  1. Enable “Allow override of calculated tax lines” within the tax configuration owner options for the receivable invoice event and grant the employee the “Tax Managerlt;Business Unitgt;” data role.

  2. 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.

  3. 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

    lt;Business Unitgt; ” data role to the employee.

  4. set the “Transaction Tax Line Override” Profile option to Yes for the selected employee and assign the employee the “Tax Manager lt;Business Unitgt;” data role.

  5. 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: E

Question No: 22

The Billing Manager has to Bill Adjustment Duty role associated with him. Which task he cannot perform?

  1. Update Receivables Invoice

  2. Update Receivables Credit memo

  3. Review Customer Account Activities

  4. Dispute Receivables Transaction

Answer: C

Explanation: Bill Adjustment Duty

Processes all customer billing adjustments, including adjustments to customer accounts, conversion rate adjustments, and automatic adjustments.

Privileges include:

Create Receivables Credit Memo Create Receivables Transaction Dispute Receivables Transaction Manage Billing Activities

Manage Receivables Adjustment

Manage Receivables Credit Memo (not B) Manage Receivables Invoice (not A) Manage Receivables Transactions (not D) Run Adjustments Register

Run Disputed Invoices Report Submit Print Adjustments Process

Reference: Oracle Fusion Applications Financials Security Reference Manual

Question No: 23

Select three values that the dunning letter generation program includes.

  1. Invoice

  2. Unapplied

  3. Credit memo

  4. Debit memo

  5. Prepayments

Answer: A,B,D

Explanation: The Dunning Letter Generate program can include invoices, debit memos,

chargebacks, unapplied, and on-account receipts that are overdue.

Reference: Oracle Fusion Applications Financials Implementation Guide, Dunning Transactions

Question No: 24

The Customer Search feature in the Collections Dashboard allows collectors to find a customer by .

  1. Customer name

  2. Acccount

  3. Bill-to

  4. Customer name, account, or bill-to

Answer: D

Question No: 25

Select three values that default from Customer Profile Classes.

  1. Currency

  2. Legal Entity

  3. Payment Terms

  4. Statement Cycle

  5. Business Purpose

Answer: A,C,D

Explanation: * The customer profile class shares these default settings with other parts of Oracle Fusion Receivables: Match Receipts By; AutoMatch rule set; AutoCash rule set; AutoInvoice Grouping rule; payment terms (C); and tax printing options.

  • Use Customer Profiles to group customers with similar credit worthiness, business volume, and payment cycles. For each profile class you can define information such as credit limits, payment terms, statement cycles, invoicing, and discount information. You can also define amount limits for your finance charges, dunning, and statements for each currency in which you do business.

    Define your standard customer profiles in the Customer Profile Classes window. These

    profiles contain generic options you can use to group your customers into broad categories. For example, you might define three categories: one for prompt paying customers with favorable credit limits; one for late paying customers with high finance charge rates; and a third for customers who mostly pay on time, with discount incentives for early payment. You can also use the profile class #39;DEFAULT,#39; which the system provides.

    Assign a profile class to each of your customers and addresses in the Customers window. The customer profile class you assign provides the default values, then you can optionally customize these values to meet your specific requirements for each customer or address. If a profile is assigned to both a customer and one of that customer#39;s addresses, the options set for the address take precedence over those set at the customer level.

    Question No: 26

    An invoice for $100 has revenue deferred due to unmet payment based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 has been issued against this Invoice. Explain how revenue accounting will occur.

    1. Unearned revenue will be debited for $50.

    2. Earned revenue will be credited for $50.

    3. Unearned revenue will be credited for $100.

    4. Earned revenue will be debited for $50.

    Answer: A

    Explanation: If you issue a credit memo against an invoice that had revenue automatically deferred upon import, then the impact of the credit memo differs depending on the original reason for the revenue deferral.

    Payment-based contingencies: If revenue on this invoice was deferred due to unmet payment-based contingencies, then Receivables always debits the unearned revenue account for the full amount of the credit memo, according to the initially assigned revenue scheduling rules.

    Reference: Modifying Invoices with Deferred Revenue: Explained

    Question No: 27

    Which three scenarios require a debit memo reversal?

    1. To reverse a miscellaneous receipt

    2. To reverse a receipt that has a chargeback with an adjustment against it

    3. To reverse a receipt with remitted credit card refund application

    4. To reverse Receipt A that was applied to Receipt B and where the reversal draws balance of Receipt B positive

    5. To reverse Receipt A that was applied to Receipt B and reversal would draw balance of Receipt B negative

    Answer: B,C,E

    Explanation: You must create a debit memo reversal under each of these circumstances:

  • (B) You are reversing a receipt from which you have created a chargeback, and this chargeback has had activity against it, such as another receipt, a credit memo, or an adjustment.

  • (C) You are reversing a receipt with a remitted credit card refund application.

  • (E) You are reversing a receipt (Receipt A) that was applied to another receipt (Receipt B), if the reversal would draw the balance of Receipt B negative.

    Reference: Fusion Applications Help, Debit Memo Reversals: Points to Consider

    Question No: 28

    A Collections Agent wants to verify that the delinquency status are accurately assigned and all the dependent processes have occurred. Which three options are true in this scenario?

    1. Go to the Collector#39;s Work Queue and see whether the delinquent accounts are listed under the Delinquent Accounts node.

    2. Navigate to the Collections tab to find all delinquencies In the Collection Header.

    3. Navigate to the Transactions tab to verify that the open work items are listed.

    4. If strategies are used, go to the Collector#39;s Work Queue and verify that the strategy work items are listed.

    5. Select the Collections window to see the dunning events that have occurred.

    Answer: A,C,D

    Question No: 29

    What information does the Collector see in the Activities List area of the Collections Dashboard?

    1. Information about customers who have overdue bills

    2. Tasks assigned to the Collector, such as follow up calls

    3. Customer search as per the parameters specified

    4. Status of processing activities from the Process Monitor

    Answer: B

    Question No: 30

    An invoice was created with unit price error on one invoice item. What is the next step you perform form the Billing Work Area to correct this error?

    1. Click the Create Transaction link on the task pane and create a new transaction with the right unit price.

    2. Click the Credit Transaction link on the task pane and create a credit memo for the transaction.

    3. Click the Manage Transaction link on the task pane and create a credit memo for the transaction.

    4. Click the Manage Adjustments link on the task pane and create an adjustment against the transaction.

    Answer: B Explanation: Note:

    How can I credit only part of the balance due on a transaction?

    Use the Transaction Amounts region of the Credit Transaction page to enter a partial credit amount or percentage on line, tax or freight. The amount or percentage entered is prorated across all respective lines of the credit memo.

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