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Oracle Fusion Financials 11g Accounts Payable Essentials

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1. Identify two privileges granted to the job role Accounts Payable Supervisor.

A. running Payables Data Extraction Program

B. managing Accounting Period Status

C. preparing French DAS2 Contractor Letters

D. managing Payables Activities

E. initiating Payables Invoice Approval Task Flow

Answer: B,C,E

Explanation: Job Role: Accounts Payable Supervisor

Oversees the activities of Accounts Payables Specialists. Initiates and manages pay runs.

Resolves nondata entry holds.

2. 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

3. 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

Answer: A,B

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

4. Identify three actions performed by the Payables department for iSupplier invoices.

A. Validating invoices

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B. creating accounting

C. creating NonPurchase Order matched invoices

D. creating Purchase Order matched invoices

E. processing payments

Answer: A,C,D

Explanation: You can access invoice and payment information as well as review invoice status online using Oracle iSupplier Portal. If the buying company uses
Oracle Payables, you can also submit invoices online.

Reference: Oracle iSupplier Portal User's Guide, Invoice and Payment Information

5. A company has a requirement to default the disbursement bank account during the payment process request.

Which two actions will accomplish this?

A. Create a payment Process Request template with the disbursement bank account so that it becomes the default.

B. Define the Disbursement Bank Account at the user level; the payment process derives the disbursement hank account associated with the user.

C. Define the Disbursement Bank Account at the Business Unit level; the payment process derives the disbursement hank accounts based on the business unit.

D. Define the Disbursement Bank Account in the Payment Method; the payment process derives the disbursement bonk accounts based on the Payment Method.

E. Define the Disbursement Bank Account in the Payment Process Profile; the payment process derives the disbursement bank accounts based on the Payment
Process Profile.

Answer: A,E

Explanation: Each document payable in a payment process request must be assigned a disbursement bank account and a payment process profile so it can
proceed to the document validation phase of the payment process. Oracle Fusion Payments takes several steps to ensure their assignment.

Settings That Affect Payment Process Attributes

The following options affect payment processing:

* (A) Create Payment Process Request Template page, Payment Attributes region: Disbursement bank account choice list Payment Process Profile choice list

* Submit Payment Process Request page, Payment Attributes region: Disbursement bank account choice list Payment Process Profile choice list

* (E) Create and Edit Payment Process Profiles pages, Usage Rules tab: Payment Methods radio buttons Disbursement Bank Account radio buttons Business
Units radio buttons Currencies radio buttons

Reference: Fusion Applications help, Payment Process Attributes: How They are Assigned

6. Which section of the invoice Dashboard shows Invoices that require validation and were created from scanned invoices processed through the Integrated
Imaging solution?

A. Scanned Invoices

B. Recently Entered Invoices

C. Invoices Requiring Attention

D. Available Prepayments

E. Process Monitor

Answer: A

Explanation:

Note: A scanned invoice is an invoice that is processed through the Oracle Fusion

Payables integrated imaging solution.

The integrated imaging solution provides scanning of supplier invoices,

intelligent character recognition, and automatic routing of invoice images for

creation, completion, approval, and payment in Payables.

The integrated imaging solution uses:

. Oracle Document Capture to receive the scanned invoice image.

. Oracle Forms Recognition to scan the image and capture invoice header information.

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. Oracle Imaging and Process Management to take the processed image and convert it into a BPEL task for routing to the proper accounts payable specialist for
completion. Oracle Imaging and Process Management provides the repository to store the image, along with the captured attributes.

7. A company has a business requirement that all invoices go through an approval process flow.

Identify three features of the Invoice Approval workflow that meets their requirement.

A. allows automatic resubmission of an invoice if rejection occurs

B. has predefined criteria to identify which invoices require approval

C. provides automatic routing of invoices upon approval to another designated approver

D. allows for corrections to invoices to be made while still in the approval routing process

E. provides Lime limits as to how long an invoice can remain unapproved before being automatically rerouted to the next approver

Answer: A,B,C

Explanation: A: If an approver rejects an invoice or invoice line, you can perform one of the following actions:

* Use the Force Approval option to manually approve the invoice.

* Use the Initiate Approval option to resubmit the invoice to the Invoice Approval Workflow after correcting any issue that caused the approver to reject the invoice.

* Use the Cancel Invoice option to cancel the approvalprocess.

B, C: The Invoice Approval Workflow automates your invoice approval process. Based on rules you define, the workflow determines if an entire invoice (document)
or invoice lines need approval, who the approvers are, and in what order approvers should approve payment of the invoice.

If you use Invoice Approval Workflow, then every invoice and invoice line that require approval must be approved before you can pay it. Payables indicates that an
invoice requires approval by setting the value in the Approval status field in the Invoices window to Required. The approval status is derived from the approval
status of the document maintained at the invoice header and the approval status of the invoice lines.

Reference: Oracle Payables User's Guide, Invoice Approval Workflow Overview

8. 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.

Answer: A,C,E

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,

9. Identify three correct statements about Invoice Approval.

A. Invoice approval uses Oracle Approval Management to determine who approves invoices and how they will be routed to different approval levels.

B. You can define different approval rules for purchase order matched and unmatched Invoices.

C. You can NOT define different approval rules for purchase order matched and unmatched invoice.

D. Approval rules can be set up at position, job, and supervisory hierarchy levels depending on approval needs.

E. Invoice approval is required for customer refund payment requests.

Answer: A,C,E

Explanation: A: Oracle Fusion Payables supports automatic invoice approval using Approval Management extensions (AMX) of the Oracle SOA Suite and the

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Oracle Business Process Management (BPM) Suite.

Note: Invoice Approval

If you enable invoice approval, Payables uses the predefined task and rule set FinApInvoiceApproval: InvoiceApprovalRuleSet, which you can configure.

Reference: Fusion Applications help, Approving Invoices: Explained

10. Identify two items that are defined in the Common Options in the Payables and Procurement window?

A. Discount Allocation Method

B. Automatic Offset

C. Payment Terms

D. Apply Withholding Tax

E. Conversion Rate Type

Answer: A,E

Explanation: Common Options for Payables and Procurement are setup options that are used by features throughout the procure-to-pay business flow, such as
default accounts, additional legal entity information, accounting options, and self-billed invoices.

Set options for the following:

*Default distributions One option is: / (A)Discount Taken: If you allocate discounts to a single distribution, this account records the discounts you take on payments.
Use the Manage Invoice Options page to select the method for distributing discounts for your invoices.

*Offset segments *Currency conversion

The options you can set for currency conversion: / Conversion rate type (E) / Require conversion rate entry / Realized Gain or Loss Distributions

*Expense accruals

*Self-billed invoices

*Legal entity information

Reference: Oracle Fusion Applications Financials Implementation Guide, Manage Common Options for Payables and Procurement

11. Which three duty roles are granted to the Corporate Card Administrator?

A. Corporate Card Transaction Management Duty

B. Corporate Card Issuer Payment Request Management Duty

C. Business Intelligence Applications Worker

D. Corporate Card Transaction Review Duty

E. Expense Export Duty

Answer: A,B,C

Explanation: Duties assigned directly and indirectly to the job role Corporate Card Administrator include: Corporate Card Transaction Management Duty Corporate
Card Issuer Payment Request Management Duty Business Intelligence Applications Worker

Reference: Oracle Fusion Applications Financials Security Reference Manual

12. An employee traveled to a different city on a business trip. During the course of travel, the employee used the corporate card provided by his company for both
business and personal expenses.

Upon his return, the employee created an expense report. The company is processing the expense report as Both Pay Corporate Card Transactions.

What will the result be?

A. Both business and personal expenses will be reimbursed to the employee.

B. Reimbursement will be made to the employee and the corporate card Issuer.

C. Only business expenses incurred using the corporate card will be reimbursed to the card Issuer.

D. All expenses incurred using a corporate card will be paid to the card Issuer.

E. Reimbursements will be made to the employee instead of the corporate card issuer.

Answer: C

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Explanation: Both Pay. The employee pays the credit card provider for personal expenses, and your company pays the credit card provider for business
expenses.

For the Both Pay scenario, your company pays the credit card provider for transactions that are categorized as business expenses. Employees are expected to
pay the credit card provider for all credit card transactions reported as personal expenses.

Reference: Oracle Internet Expenses Implementation and Administration Guide, Processing Corporate Credit Cards

13. Which three options in a Quick Payment do NOT impede the selection of documents?

A. Payment Terms

B. Currency

C. Business Unit

D. Payment Method

E. Due Date

Answer: A,E

Explanation: Paying Invoices with Quick Payments

You can create and print a computer generated payment to pay a supplier for one or more invoices. You can also create a check, save it, then print it later.

If you use the EDI Outbound payment format and you use Oracle EDI Gateway, then you can create electronic Quick payments.

When you create a quick payment you can select an invoice regardless of the payments terms and due date. For example, you can create a Quick payment for an
invoice that is not yet due.

Note:

* Quick Payment: It allows you to make a single payment against one or more invoices at a time to one supplier through payables. It involves 3 steps: -Creating a
payment -formatting the payment -printing the payment. So give the bank , Payment method,Payment document and supplier details in the payment screen and
select the invoices from Enter/adjust invoices push button. After doing this process go to actions and format and then print it. This is all done through payables.

* Manual Payment: This is the process of entering the check details which has been paid manually in some emergency requirements into the payment form and
selecting the invoices of the concerned supplier and check whether the total of the invoices and the paid amount at the header are same and save. In this there will
be no formatting and printing process through payables.

Reference: Paying Invoices with Quick Payments

14. 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

Answer: A,B

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.

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

A. Expense Audit Duty

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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

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