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2016 Nov 1Z0-573 exam prep

Q1. Which two statements are true regarding an Accounts Payable inquiry?

A. Prepaid vouchers must not be paid to appear under unapplied prepayments in a vendor current balances inquiry.

B. Review Scheduled payment information does not allow users to enter both vendor ID and vendor short name in the search criteria.

C. Saved search option is available in the Voucher inquiry, Match workbench, and Accounting entries inquiry screens.

D. From and To Payment dates are required fields to display charts on the Payment inquiry page.

Answer: B,C

Explanation: Reference:

http://docs.oracle.com/cd/E16365_01/fscm91pbr0/eng/psbooks/fspr/chapter.htm?File=fspr/ htm/fspr04.htm


Q2. Besides PeopleSoft Payables, which two modules are required for payment netting?

A. PeopleSoftCash Management

B. PeopleSoft Billing

C. PeopleSoft Receivables

D. PeopleSoft General Ledger

E. PeopleSoft Order Management

Answer: B,E


Q3. If the vendor has an initial financial sanctions status of Cleared, and the system performs financial sanctions validation and finds that there is a match, the system automatically changes the vendor’s financial sanctions status to .

A. Valid

B. Hold

C. Review

D. Reject

Answer: B


Q4. A vendor invoice has been received but the accounting information and PO are not available with the AP department. According to the company policy,the invoice and related tax should be booked in the same month as the invoice was received. Which voucher type should be used to record the invoice for this scenario?

A. Registered voucher

B. Prepaid voucher

C. Adjustment voucher

D. Journal voucher

E. Claim voucher

Answer: D


Q5. The Purchasing Manager has just found a new vendor to purchase the new chairs for the Purchasing breakroom. A new vendor request form is submitted to add the vendor into the system. Which is good practice to perform prior to creating a vendor in PeopleSoft?

A. Ask the vendor for his EIN number and verify the number is correct by calling the vendor’s bank

B. Ask the vendor for the EIN/Tax ID number and verify it is correct with a reputable agency or search site

C. Obtain and call four references for the vendor

D. Add a vendor into the system 30 days prior to being used

Answer: C


Avant-garde 1Z0-573 exam answers:

Q6. What are the two required fields to create a personalized search on Matching Workbench?

A. Match Due Date

B. Match Status

C. Voucher ID

D. Business Unit

E. Origin

Answer: B,D


Q7. Which three items determine Sales Use Tax?

A. ship to location

B. ultimate use of the item

C. group of the item

D. geographic location

Answer: A,B,C


Q8. The voucher posting process determines the ledger group for generating accounting entries based on .

A. the ledger group tagged at the Payables Definition setup of the voucher payables business unit

B. the ledger group entered at the voucher header level by a user on the voucher creation page

C. the ledger group tagged at the “Ledgers for a unit” setup of the voucher general ledger business unit

D. the ledger group tagged at the “Ledgers for a unit” setup of the voucher payables business unit

E. the ledger group entered at the voucher distribution level by a user on the voucher creation page

Answer: C

Explanation: Reference:

http://docs.oracle.com/cd/E39583_01/fscm92pbr0/eng/fscm/fspf/task_SettingUpInterunitandIntraunitProcessing-9f1389.html


Q9. From which setup does the payment posting process for voucher paymentschoose the

General Ledger (GL) account for the cash distribution account (CAS)?

A. account defined for “Cash Distribution” at accounting entry template

B. account defined for “Cash - AP”at external bank account

C. account defined at the distribution level of the voucher

D. account defined for “Cash - AP” at external bank account – payment method

Answer: A

Explanation: Reference:

http://docs.oracle.com/cd/E13228_01/fscm9pbr0/eng/psbooks/fapy/chapter.htm?File=fapy/htm/fapy12.htm


Q10. When using the copy PO function on the Regular Voucher page, where does the Payment Terms value come from by default (meaning at the highest default level and assuming that no options are checked in the Copy PO section of the Payables Definition page)?

A. From the Vendor

B. From the specific Vendor Location identified

C. From the Purchase Order Header

D. From the Receipt

E. From the Payables Options for the business unit

Answer: C