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Q51. Which three statements are true when a prepayment is applied to an invoice by selecting the option Include on Invoice? 

A. The prepayment amount available for application is reduced. 

B. The unpaid invoice amount is reduced by the amount of the prepayment application. 

C. The unpaid invoice amount is not affected by the prepayment application. 

D. The invoice is updated to reflect the amount paid by prepayment in the Installments tab. 

E. The prepayment amount paid is NOT updated In the Installment tab of invoice. 

Answer: A,B,E 

Explanation: B:When a prepayment is applied to an invoice, Payables automatically creates a negative distribution and a negative scheduled payment for the prepayment in the amount of the application. A:Payables also reduces the Amount Available for prepayment by the amount applied. You can see the original amount of the prepayment in the Amount field of the Invoice Overview. Payables updates the status of an invoice paid by a prepayment to reflect the invoice as being paid by the prepayment application. 


Q52. A Payment Process Request is issued with a payment type of Manual. 

Which two payment statuses will allow the manual payment to be voided? 

A. Payment file build 

B. Pending proposed payment review 

C. Issued 

D. Cleared 

E. Negotiable 

Answer: B,E 

Explanation: You can cancel only unpaid invoices. 

Note: 

* The Review Proposed Payments page on the Payment Process Requests tab enables the Payment Manager to review and approve proposed payments after the Build Payments program has created them. If you optionally configured the pay run to pause after the creation of proposed payments, the payment process request completes with the status Pending Proposed Payment Review. 

* You cannot cancel an invoice to which you have applied a prepayment. 

You must first unapply any prepayments and void the payment that paid the prepayment. 

You can then cancel the prepayment. 

* You can cancel any unapproved invoice, or an approved invoice that does not have any effective payments or posting holds. If an invoice has a hold that prevents posting, you must release the hold before you cancel the invoice. You cannot cancel an invoice that has been selected for payment in a payment batch. A cancelled invoice does not show up in your invoice liability reports and you cannot pay or adjust a cancelled invoice. You can cancel single invoice distributions by reversing them. Reference: Oracle Applications, Cancelling Invoices 


Q53. Which two actions are performed on the Manage Invoices page when using the Invoice Approval workflow? 

A. initiate approval 

B. stop approval 

C. force approval 

D. cancel approval 

E. restart approval 

Answer: A,B 

Explanation: If you are using the Invoice Approval workflow, you can perform the following actions on the Manage Invoices and Edit Invoices pages to initiate the approval process and handle approval exceptions: 

. Initiate approval 

. Stop approval 

. Hold from approval 

. Force approve 

. Resubmit for approval 

Note: To submit an invoice for approval, select the Initiate approval action. You can select this action when the Approval Status on an invoice is Required. The workflow process starts and routes the invoice to the applicable approver who then approves or rejects the invoice. The Approval Status on the invoice is updated to Initiated. 

Reference: Oracle Fusion Applications Procurement, Payables, Payments, and Cash Guide , Invoice Approval Actions: Points to Consider 


Q54. A company has three Balancing Segment values. An Invoice is charged to all the three Balancing Segments. It is created with three distributions with the respective Balancing Segment values and the same Natural Account for AP Charge Account. 

Which set up should automatically account the liability account to the respective Balancing Segment Values? 

A. Distribution Set 

B. Invoice Matching 

C. Automatic Offset 

D. Sub ledger Accounting Setup 

E. Default Distributions 

Answer: C 

Explanation: If you enter invoices for expenses or asset purchases for more than one primary balancing segment value, you might want to use automatic offsets to keep your Oracle Fusion Payables transaction accounting entries balanced. If you do not use automatic offsets, Payables creates a single liability accounting entry for invoice transactions and a single cash type accounting entry for payment transactions. 

Reference: Oracle Fusion Applications Financials Implementation Guide, Offset Segments 


Q55. Identify three features of Expenses regarding expense report approvals. 

A. Enforce Receipts received automatically before approval 

B. Review of Cost Center and Project Allocations 

C. Integration with Fusion Imaging and Process Management 

D. Automatic conversion to User Preferred currency 

E. Spotting of issues, thus facilitating informed decisions using previous expense patterns 

Answer: A,B,D 

Explanation: A: Specifying a Receipt Required Policy 

If your accounts payable department requires a receipt for each expense, then you must specify the following for each expense type that you define in the Create Expense Type page: 

A receipt requirement rule that reflects your company's receipt policy. A receipt can be required for cash only or corporate card and cash. 

An expense amount, above which a receipt is required 

Warning and error tolerance percentages so the application knows when to warn the user, if opted, of a receipt required policy violation or, in the case of an error, actually prevent submission of the expense report 

Warnings are tracked by the application. You can view them in the Expense Items region of the Edit Expense Report page, whereas errors are not tracked because they prevent submission of the expense report. 

B: Approval by Cost Center Owners in Parallel Mode 

The predefined ruleset for approval of expense reports by cost center owners is called CostCenterApprovalStage : CostCenterRuleSet. This ruleset has the following predefined rules: 

If the total amount charged to cost centers other than the employee's default cost center is more than zero, the expense report is sent to the cost center owner for approval. 

If expenses are charged to a cost center other than the employee's default cost center, the applicable cost center owners receive the approval notification in parallel. The approval is complete when all cost center owners identified as approvers have approved the expense report. 

If the cost center of the expenses is the same as the default cost center of the employee, automatic response is generated indicating that there is no cost center-specific approval. 

D: Specifying a Conversion Rate Policy 

You can define conversion rate behavior for each business unit in your company. These definitions enable you to enforce conversion rate policies and to validate the conversion rates that employees enter for foreign currency receipts. If you enter a conversion rate value in an expense report, or override a defaulted value, the value you enter is validated against the current conversion rate definitions. 

You specify the following conversion rate behavior in the Edit Conversation Rates and Policies page: 

Type of conversion rate, whether Corporate, Spot, or User 

Whether you want the conversion rate to default onto a newly created expense report 

Reference: Oracle Fusion Applications Financials Implementation Guide , Define Expense Policies and Rules 


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Avant-garde 1Z0-507 free exam questions:

Q56. What duty must an employee have in order to create payables documents, review reimbursements, process results, and review expense exports? 

A. Expense Audit Duty 

B. Expense Export Duty 

C. Expense Entry Duty 

D. Expense Management Analysis Duty 

E. Expense Policies and Rules Administration Duty 

Answer: C 

Explanation: C: Creates and updates expense items and expense reports. Reference: Oracle Fusion Applications Financials Security Reference Manual 


Q57. What are the three sections in the Payables Key Indicators Report? 

A. Recent Activity 

B. Current Activity 

C. Invoice Activity 

D. Payment Activity 

E. State of the Application 

Answer: B,C,D 

Explanation: * When you submit the.Key Indicators Report, Payables prints two reports that allow you to review Payables transaction activity, and review the current number of suppliers, invoices, payments and matching holds in your Payables system: *Use the Key Indicators Report to review your accounts payable department's productivity. The Key Indicators Report provides current activity indicators that compare current period activity with prior period activity in three major areas: suppliers, invoices, and payments. Payables further breaks down each category into basic items, exception items, and updates. The report provides the number of transactions for each indicator (such as number of automatic payments printed during a period) and amount values where applicable to the Key Indicator (such as total value of automatic payments written during a period). 


Q58. Which two organizational components are part of the OTBI report for outstanding payables Invoices? 

A. Legal Entity 

B. Business Group 

C. Human Resources Organization 

D. Business Unit 

E. Inventory Organization 

Answer: A,D 

Explanation: Note: Payables Invoice Register 

Review detailed information about invoices. 

There is an Oracle Transaction Business Intelligence (OTBI) version of this report and an Oracle Business Intelligence Publisher (BI Publisher) version. 

You can run the BI Publisher report from the Scheduled Processes work area. 

Run the OTBI report from the Reports and Analytics work area. 

Parameters Used in OTBI and BI Publisher Reports 

* Business Unit 

* Supplier Type 

* Supplier 

Parameters in OTBI Report Only 

* Payment Date 

* Accounting Date 

* Payment Amount 

* Supplier Number 

* Currency 

* Report View 


Q59. What are the three payment types? 

A. Wire 

B. Check 

C. Quick 

D. Manual 

E. Refund 

Answer: C,D,E 

Explanation: Payment types identify how a payment is recorded in Oracle Fusion Payables. When you manage payments, you can search for payments of a specific payment type. When you create a.single payment, you must specify the payment type. The payment tables are: 

* Payment Process Request 

A payment for one or more invoices that is processed through a payment process request. 

* Quick 

A single payment that you create for one more invoices without submitting a payment process request. 

* Manual 

A payment created outside of Oracle Fusion Payables, but recorded in the application. 

* Refund 

A payment for a negative amount that closes out an outstanding credit balance. 

Reference: Fusion Applications help, Payment Types: Points to Consider 


Q60. A company wants to default the business unit for a user In Oracle Fusion Payables. Identify the setup that meets this requirement. 

A. Common Options for Payables and Procurement 

B. Financial Options 

C. Setup and Maintenance 

D. Payables Options 

E. Payables System Setup 

Answer: C 

Explanation: Once initial security administration is complete and your enterprise is set up with structures such as business units, additional security administration tasks are optional and based on modifying and expanding the predefined security reference implementation to fit your enterprise. 

You can access most security tasks by starting in the Setup and Maintenance Overview page and searching for security tasks and task lists.