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2021 Aug 1Z0-507 test questions
Q31. Identify three benefits that a buyer company and supplier can receive from the Supplier Portal.
A. Expedite invoice processing and increase efficiency by allowing authorized suppliers to enter their invoices against approved purchase orders.
B. Suppliers can view their purchase order information.
C. Reduce human error and prevent unauthorized purchasing with an automatic approval process for unmatched invoices.
D. Suppliers can view and update their master information.
E. Enhance supplier relationship and reduce communication overhead by providing suppliers a quick view of invoice and related payments regardless of whether invoices were submitted online or processed manually.
Explanation: KEY BENEFITS
. Improve communications with suppliers
. Deliver best in class supplier collaboration
. Easy supplier setup and support
. Reduce errors and inquiries
. Faster issue resolution
Reference; Oracle Fusion Supplier Portal, Oracle Data Sheet
Q32. Which three activities are performed by the Expense Auditor in the Auditing Work Area?
A. Initiating and monitoring reimbursement processing
B. Managing daily upload of credit card data
C. Reviewing and reprocessing expense reports
D. Viewing payment requests created for employees and corporate card issuers
E. Managing corporate expense policies and rules
Explanation: Expense auditors perform the following tasks:
. Audit expense reports.
. Generate overdue and missing receipt notifications.
. Check in expense report receipt packages.
. Manage expense report audit list membership
Reference: Oracle Fusion Applications Workforce Deployment, Expenses
Guide, Audit Expense Report: Overview
Q33. Identify three duty roles that are granted to both the Accounts Payable Supervisor and the Accounts Payable Manager.
A. Payables Business Intelligence Management Duty
B. Accounts Payable Period Status Review Duty
C. Payables Balance Analysis Duty
D. Business Intelligence Authoring Duty
E. Disbursement Process Management Duty
F. Accounts Payable Period Status Management Duty
Q34. Which three fields are required to create an invoice without a purchase order through the Supplier Portal?
A. Supplier Name
B. Remit to name
C. Taxpayer ID
D. Tax Registration Number
E. Requester E-Mail
Explanation: Creating an Invoice Without a Purchase Order
The process of creating invoices that do not have matching purchase orders is similar, although some information is not required, and some must be entered.
To create an invoice without a purchase order: . From the iSupplier Portal.Home.page, click the Finance tab. . On the.Create Invoices.page, select Without PO from the Create Invoice menu, and click Go.
. Enter information as needed. The following fields are required. Supplier Invoice number Remit to name Currency Customer tax payer ID See screenshot below.
Note: What's a self-service invoice?
An invoice that a supplier enters through Oracle Fusion Supplier Portal.
Self-service invoices that are matched to a purchase order are recorded as standard invoices or credit memos in Oracle Fusion Payables.
Self-service invoices that are not matched to a purchase order are recorded as invoice requests. Invoice requests must be approved using the Invoice Approval workflow before becoming standard invoices or credit memos in Payables.
Reference: Creating an Invoice Without a Purchase Order, Oracle iSupplier Portal User's Guide
Q35. An employee submits an expense report, but before it is processed the employee is terminated. At which level is the option Processing Days Allowed After Termination configured?
B. Business unit
C. Expense template and type set up
D. Project attributes
E. Define expenses configuration
Replace 1Z0-507 rapidshare:
Q36. Identify three fields that will be extracted from an invoice when using the Integrated imaging solution.
A. Purchase Order number
B. Item number
C. item price
D. Invoice amount
E. Supplier name
Explanation: The predefined Payables initialization (.ini) file supports optical character recognition (OCR) and extraction of the following invoice header attributes:
Purchase order number Invoice amount Supplier Invoice number Invoice date
Reference: Oracle Fusion Applications Financials Implementation Guide, Setting Up Forms Recognition
Q37. While extracting an invoice batch, RTS fails to extract and validate an invoice in a batch. What action is needed to complete the process?
A. Review incomplete batches using Oracle Document Capture and resubmit them after correcting the exceptions.
B. Review incomplete batches using Oracle Forms Recognition Runtime Service and resubmit them after correcting the exceptions.
C. Review incomplete batches using Oracle Imaging and Process Management and resubmit them after correcting the exception.
D. Review incomplete batches using Oracle Forms Recognition verifier and submit then after correcting the exceptions.
E. Review incomplete batches using Enterprise Content management and submit them after correcting the exceptions.
Explanation: Oracle Forms Recognition Runtime Server runs in the background as a server process. Multiple instances of Oracle Forms Recognition Runtime Server can be started simultaneously in a network or on a single machine. Because all instances cooperate with each other, running multiple instances optimizes load distribution. Batches that cannot be entirely processed automatically by Oracle Forms Recognition Runtime Server are forwarded to the quality assurance application Oracle Forms Recognition Verifier to be corrected manually.
Reference: Oracle Forms Recognition,Runtime Server User Guide
Q38. Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?
A. The payment term of the purchase order overrides the invoice payment term.
B. The payment term of the invoice overrides the purchase order payment term.
C. The user needs to specify which payment term will be used.
D. The user needs to manually change the payment term on the invoice to make it the same as the purchase order payment term.
E. The purchase order payment term can NOT be overridden.
Explanation: In the Match to PO window review the purchase order Payment Terms and optionally change the invoice Payment Terms in the Invoices window. Payables uses the invoice payment terms to schedule invoice payment. Note: TERMS_ID
Enter the ID for the payment terms of the purchase order. Payables defaults this value during matching of PO Default and Quickmatch invoices in the Invoices window. Payables Open Interface Import may also use this value as a default for matched invoices during import.
If you choose to leave this column empty, Payables will not warn you if the purchase order and invoice payment terms differ.
Reference: Matching to Purchase Orders
Q39. Which three tasks are performed during the expense report reimbursement process?
A. Approval of expense report.
B. Defining expense policies and rules.
C. Creation of payables documents.
D. Transfer of data to the payables open interface.
E. Attachment of receipts supporting expense reports.
Explanation: The Process Expense Report Reimbursement process also checks whether expense report holds can be released.
Payment holds are released in the following ways:
* The expense auditor manually releases the payment hold at his discretion on the Audit Expense Report page by selecting the Release Hold option on the Actions menu.
* Based on receipt status, Expenses detects that receipts are received or waived and automatically releases the payment hold.
Q40. A company has implemented the Integrated Imaging Solution. While extracting an invoice batch, RTS fails to extract and validate an invoice in the batch.
What is the next step?
A. The failed invoice will be removed from the batch and remaining Invoices will be sent to IPM for routing.
B. The failed invoices will be loaded with the data available and the user needs to enter the missing information manually.
C. The entire invoice batch will be sent toIPM tor routing including invoice failed validation.
D. The entire batch is marked asfailed and needs to be resubmitted after corrections.
E. Only the invoices that failed validation will be marked as failed and these need to be resubmitted after corrections
Explanation: Forms Recognition Verifier is the quality assurance application of the Forms Recognition suite. The application detects all documents with data recognition problems and presents them to the operator for verification.
If Forms Recognition Runtime Service fails to extract and validate an invoice in a batch, the entire batch is marked as failed and will not be exported to the image repository.
An accounts payable specialist reviews incomplete batches using Forms Recognition Verifier and resubmits them after correcting the exceptions.
Reference: Oracle Fusion Applications Financials Implementation Guide, Forms Recognition Verifier