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Q71. Which two Payment Controls can be overridden by creating a manual Single Payment Request?
A. Multiple Pay Alone Invoices
B. All payment methods
C. Enable Charge Deduction from Payment
D. Supplier, with the Hold All Payments option enabled
E. Allow Pre-Date
Explanation: With a manual payment, you can override some payment controls of Payables. You can record a single payment for multiple Pay Alone invoices. You can record payment for invoices that are associated with any Payment Method type, except Electronic. You can also record a payment for an invoice for a supplier that has the Hold All Payments option enabled.
Reference: Oracle Payables User's Guide, Recording Manual Payments and Wire Transfers
Q72. Select three correct statements regarding a supplier submitting invoices online through the Supplier portal.
A. A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are NOT fully billed.
B. After submitting the invoice, a supplier can validate it.
C. A supplier can submit a single invoice against multiple-purchase orders, provided the currency and organization for all the items on an invoice are the same.
D. A supplier can submit a single Invoice against multiple purchase orders, even if different currencies and organizations, are specified for the items on the invoice.
E. After submitting the invoice, a supplier can NOT make changes to it.
Explanation: A: Suppliers can create invoices against open, approved, standard purchase orders, or blanket releases that are not fully billed.
C:Suppliers can enter a credit memo against a fully billed purchase order as well as invoice against multiple purchase orders.
E: In Oracle Purchasing, the buyer creates the purchase order, and the process sends notification to the supplier. The supplier then acknowledges the purchase order, and optionally can reject shipments and make changes to a purchase order line or shipment. After making any optional changes, the supplier submits the acknowledgement. The buyer receives notification in Oracle Purchasing, and responds to the change request submitted during acknowledgement. The purchase order is revised automatically in Oracle Purchasing. The supplier receives notification of the revised purchase order and can view the revised purchase order in Oracle iSupplier Portal.
Reference: Creating an Invoice Without a Purchase Order, Oracle iSupplier Portal User's Guide,
Reference: Oracle iSupplier Portal, Implementation Guide,
Q73. Select three valid invoice line types.
Explanation: A: Tax lines that are either generated automatically or entered manually.
C: Miscellaneous Other charges on an invoice, such as installation or service. Miscellaneous charges can be allocated to Item lines.
E: Freight charges on an invoice. Freight charges can be allocated to Item lines
Reference; Oracle Fusion Applications Procurement, Payables, Payments, and Cash Guide Invoice Line Types: Explained
Q74. Identify three attributes of a Single Payment Request.
D. real time
E. batch processing
Q75. How are prepayments for invoices configured?
A. Create the prepayment terms and associate it with the prepayment Invoice.
B. Enable Allow Prepayments in Define General Payables Options.
C. Enable the Profile Option for Prepayment in the Manage Payable profile options page.
D. No additional configuration is required. Users must select the invoice type as prepayment when the invoice is created.
E. No additional configuration is required. Users must select the payment type as prepayment when the payment is created.
Explanation: In payables there are 11 types of Invoices:
1. Standard Invoice
2. Debit memo
3. Credit memo
4. Expencess report
5. Mixed Invoice
7. PO defualt
8. With holding tax
9. Reccuring Invoice 10.Interest Invoice 11.Quick match prepayment : advance payment you make to a suppliers or employee. If you enter Temporary for the Prepayment type field, then you can later apply prepayment to an invoice.
Two types of prepayments are there, namely, temporary and permanent. In case of earlier one. it is treated as advance to the supplier and will be adjusted against any invoice on or after the settlement date but in case of later one, it is treated as deposit with the supplier.
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Q76. Identify three correct statements about creating and maintaining supplier profile entities.
A. Tax Registrations can be created and maintained only at the supplier level.
B. Bank Accounts can be created and maintained at supplier and supplier site level.
C. Multiple sites can NOT be created for the same address.
D. One supplier address can be associated with one or more supplier contacts and one contact can be associated with one or more addresses.
E. Transaction Controls are maintained at supplier site level.
Explanation: Supplier Profiles
On approval of a new supplier registration, Supplier Lifecycle Management application saves a company profile for that supplier. Supplier profiles contain company information such as tax IDs, Dun and Bradstreet number, supplier addresses, contact names, descriptions of goods and services provided by the supplier, classification details such as ownership status (for example, minority-owned), bank account details, terms and conditions. Suppliers maintain the information and update it as needed.
Note: Maintaining supplier profile information online can ease the administrative burden faced by trading partners. With Supplier Lifecycle Management, suppliers can access and update their profile online. Buyers use this information to directly modify supply base information in their purchasing and payables system. Maintaining supply base information online results in a significant reduction in the volume of forms and direct contact between the two organizations.
Reference: Oracle Supplier Management Implementation and Administration Guide, Implementing Supplier Profile Management
Q77. Which section of the Accounts Payable dashboard displays information about supplier sites on payments hold?
A. Invoice Requiring Attention
B. Payment Process Requests
C. Stop Payment Requests
D. Supplier Sites on Payment Hold
E. Payment Files Requiring Attention
Q78. In which two ways will an invoice be impacted when an inclusive prepayment is unapplied from it?
A. The unpaid invoice amount is increased by the amount of the prepayment.
B. An installment is created for the prepayment amount.
C. The invoice validation status changes to Needs Revalidation.
D. The invoice paid status changes from Partially Paid to Unpaid.
E. The invoice accounting status changes to Partially Accounted.
Explanation: If you mistakenly apply a prepayment to an invoice, you can unapply it. Payables automatically creates a reversal distribution and a new scheduled payment for the prepayment in the amount that you unapply. Payables also increases the Amount Available for the prepayment by the unapplied amount. Payables updates the status of the invoice to unpaid or partially paid.
Reference: Unapplying Prepayments
Q79. An installment meets all the selection criteria of a payment process request but still did NOT get selected for payment.
Identify two reasons for this.
A. The pay-through date is in the closed period.
B. The pay-through date is in the future period.
C. The invoice needs revalidation.
D. The invoice has NOT been accounted.
E. The installment was manually removed.
Explanation: An installment can meet the selection criteria of a payment process request, yet not get selected for payment for one or more reasons.
You can review installments that were not selected for payment, along with the reasons they were not selected, on the Not Selected tab of the Review
The reasons are as follows:
* Payment date in closed period (A)
* Invoice needs revalidation (C)
* Rejected by approver
. Withholding tax calculation error
. Credit reduces payment amount below zero
. Invoice requires approval
. Invoice never validated
. Payment date before system date not allowed
. Installment on hold
. Supplier site on payment hold
. Installment manually removed
. Zero amount installments excluded
* installment One of many successive payments of a debt. You specify how you want payments made when you define your payment terms.
* Pay-Through-Date An Oracle Applications feature you use during automatic payment processing. You define a payment cycle (the number of days between regular payment batches), and Oracle
Applications calculates the Pay-Through-Date by adding the number of days in the payment cycle to the payment date. Oracle Applications selects an invoice for payment if either the due date or discount date is before the Pay-Through-Date
* A payment process request is a grouping of installments that are processed for payment. For each request, you can specify selection criteria, payment attributes, and processing options.
Reference; Oracle Fusion Applications Procurement, Payables, Payments, and Cash Guide, Why didn't an installment get selected for payment?
Q80. What are the two Online Accounting options available in Oracle Fusion Payables?
A. Account in Final
B. Account in Draft
C. Account in Final and Transfer to Ledger
D. Account in Draft and Transfer to Ledger
E. Account and Post to Ledger
Explanation: Final will create journal entries, which can be transferred to GL.
Draft will create journal entries, which are not final, which means they are not ready to be transferred to GL.