Want to know Pass4sure 1z0-335 Exam practice test features? Want to lear more about Oracle Oracle Financials Cloud: Receivables 2021 Implementation Essentials certification experience? Study Approved Oracle 1z0-335 answers to Renew 1z0-335 questions at Pass4sure. Gat a success with an absolute guarantee to pass Oracle 1z0-335 (Oracle Financials Cloud: Receivables 2021 Implementation Essentials) test on your first attempt.


♥♥ 2021 NEW RECOMMEND ♥♥

Free VCE & PDF File for Oracle 1z0-335 Real Exam (Full Version!)

★ Pass on Your First TRY ★ 100% Money Back Guarantee ★ Realistic Practice Exam Questions

Free Instant Download NEW 1z0-335 Exam Dumps (PDF & VCE):
Available on: http://www.surepassexam.com/1z0-335-exam-dumps.html

Q11. Which are the two interface tables that transaction data will be imported to when using the Autoinvoice Feature?

A. AR_INTERFACE_CONTS_ALL

B. AR_INTERFACE_CONT_ALL

C. RA_INTERFACE_SALES_ALL

D. RA_INTERFACE_DISTRIBUTIONS_ALL

E. RA_INTERFACE_DIST_ALL

Answer: C,D

Explanation:

Note: AutoInvoice Gather Statistics Allowed: If you set this profile option to Yes, then when you submit AutoInvoice, the program first analyzes the interface tables (RA_INTERFACE_LINES_ALL, RA_INTERFACE_DISTRIBUTIONS_ALL, and

RA_INTERFACE SALESCREDITS_ALL) and gathers statistics to determine how best to execute the transaction import.


Q12. The Billing Specialist receives information that the invoice was billed with the incorrect freight amount.

What action is required?

A. Perform Credit Memos when the original invoice has billing error (such as incorrect freight amounts, line item pricing, tax amounts, and finance charges) or the entire invoice should be corrected.

B. Perform adjustments when the original invoice has hilling errors (such as incorrect freight amounts, line item pricing, tax amounts, or finance charges) or the entire invoice should be corrected.

C. The freight amount must be correct; the Billing Specialist must review it again.

D. A Dispute Request can be submitted by the Billing Specialist through the Billing Work Area.

E. Perform Debit memos when the original invoice has hilling errors (such as incorrect freight amounts, line item pricing, tax amounts, or finance charges) or the entire invoice should be created.

Answer: A


Q13. Identify two values that default from Customer Profile Classes.

A. Tax

B. Legal Entity

C. Payment Terms

D. Statement Cycle

E. Business Purpose

Answer: C,D


Q14. Select the valid setup that creates the revenue account distribution in the case of a debit memo reversal.

A. Auto Accounting Rule for revenue line type

B. Revenue Account Specified in Debit Memo transaction type

C. Cash account on the receipt

D. Revenue account of the original transaction to which the receipt is applied

Answer: C

Explanation: Reference: Debit Memo Reversals: Points to Consider, Accounting for Debit Memo Reversals


Q15. When discussing the Receivables, to ledger Reconciliation Report with your customer, you are asked a number of questions about how to run the report. Which statement is true?

A. You can select only a Closed accounting period.

B. You can include of exclude Intercompany transactions, or you can reconcile by Intercompany activity only.

C. You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.

D. You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.

Answer: B


Q16. You have completed the period-end activities and have set the receivables period to Close Pending. Now you need to make further adjustments. What is the correct approach?

A. The receivables accounting period can be re-opened when the period status is Close Pending, and last minute adjustments can be made.

B. Once the receivables accounting period is set to Close Pending, it can NOT be re- opened, and NO further adjustments can be made.

C. Adjustments can be made even if the receivables accounting period is set to Close Pending.

D. Adjustments can be made anytime regardless of the receivables accounting period value.

Answer: A

Explanation: status of periods:

Closed: Journal entry, posting, and transaction entry are not allowed unless the accounting period is reopened. Receivables verifies that there are no unposted items in this period. Receivables does not let you close a period that contains unposted items.

Close Pending: Similar to Closed, but does not validate for Unposted items. Journal entry, posting, and transaction entry are not allowed unless the accounting period is reopened. Future: This period is not yet open, but you can enter transactions in this period. However, you cannot post in this period until you open it.

Not Opened: This period has never been opened and journal entry and posting are not allowed.

Open: Journal entry and posting are allowed.


Q17. Which two statements are true about creating and clearing receipts for bills receivable remittances?

A. For standard remittances, Receivables updates the status of the bills receivable to Closed by running the close Matured bills receivable program to create receipts and apply them to the bills receivable, either at the maturity date plus the number of collection days or at the remittance date plus the number of collection days, whichever is later.

B. For bills receivables that factored with recourse, the receipt is applied to short-term debt and the status of the bill is updated to paid.

C. For factored remittances, receivables creates a receipt when a remittance is submitted.

D. For bills receivables that factored without recourse, the receipt is applied is applied to the bills receivable upon remittance and the status of the bill is updated to Closed.

E. For factored remittances with the automatic clearing method, run the Automatic clearing program to clear receipts on the receipt date plus the number of collection days.

F. For standard remittances, Receivables updates the status of the bills receivable to Remitted by running the close Matured bills receivable program to create receipts and apply them to the bills receivable, either at the maturity date plus the number of collection days or at the remittance date plus the number of collection days, whichever is later.

Answer: A,C

Explanation: https://docs.oracle.com/cloud/latest/financialscs_gs/FAOFC/FAOFC1479830.htm Receivables creates a receipt for each bill receivable that is remitted to the bank. The bills receivable remittance receipt method for the remittance batch determines when a receipt is created. You create a receipt to record the accounting event of the expected funds transfer. The receipt creation process differs for standard and factored remittances:

✑ Standard remittances: Run the Close Matured Bills Receivable program to create

receipts and apply them to bills receivable, either at the maturity date plus the

number of collection days or at the remittance date plus the number of collection days, whichever is later. Receivables updates the status of the bill receivable to Closed when the receipt is applied to the bill receivable.

✑ Factored remittances: Receivables creates a receipt when a remittance is

approved. For bills receivable that are factored with recourse, the receipt is applied to short term debt and the status of the bill is updated to Remitted. For bills receivable factored without recourse, the receipt is applied to the bill receivable upon remittance and the status of the bill is updated to Closed.


Q18. Which three actions are facilitated through The Reconciliation Summary Report?

A. Drill down from any of the summarized Receivables and Accounting amounts to see the detailed activity.

B. Drill down on the difference amounts to see specific reconciling items and the potential cause of the out of balance condition.

C. Drill down to see details of what still needs to be transferred and posted to the General Ledger.

D. Drill down to see reconciliation details and make reconciling for corrections.

E. Drill down to view the data and use standard Excel functionalities like sum, find, sort, and filtering WITHOUT downloading to Excel.

Answer: A,B,D 

Explanation: Note:

* Payroll Reconciliation Summary Report, Oracle HRMS Payroll Processing Management Guide

Generates payroll reconciliation summary report for a specific payroll or quick-pay run, or for a specific period. Run this report from the Submit Request window.

Run the Payroll Reconciliation Payment Summary Report - Text to produce a text file. Run the Payroll Reconciliation Payment Summary XML process to produce a PDF/Excel file.

* The Reconciliation Summary Report compares promises with payments and with broken promises. The report shows the following fields by schedule or by collector:

• Number of promises to pay made

• Promise to pay amount

• Number of payments made

• Payments amount received in currency

• Number of broken promises

• Amount in currency for broken promises

• Number of open promises

• Amount in currency for open promises


Q19. Users can choose to EXCLUDE specific transactions in a Balance Forward Bill. Which statement is true about transaction exclusion?

A. Transaction exclusion can be done during creation of the transaction.

B. Transaction exclusion for a statement can be done at each transaction level.

C. Transaction exclusion can NOT be done during the creation of a transaction.

D. Transaction exclusion for a statement can be done at the individual transaction as well as the transaction group level.

Answer: B 

Explanation: Note:

* The Override terms option makes available to transactions non-balance forward payment

terms and the one balance forward billing payment terms you defined in the previous step. This lets you exclude individual transactions from balance forward billing by assigning the transaction non-balance forward payment terms.

* If the Override Terms option on the customer profile is set to Yes, then you can remove transactions from the bill by assigning these transactions non-balance forward billing payment terms.

These transactions are excluded from the next run of the balance forward bill. Instead an individual document is printed for each of these transactions.


Q20. Which statement is TRUE regarding Time Zone Derivation Rules for Transactions?

A. Time zone conversion applies to the transaction date and adjustment date and NOT the accounting date on transactions.

B. Time zone is derived from the legal entity associated ONLY lo the default, business unit of the transaction.

C. If there is a legal entity associated with the business unit used on the transaction, then the system date is used.

D. Time zone rules apply to invoices, credit memos, on account credit memos, debit memos, chargebacks, and adjustments.

Answer: D

Explanation: Reference: Fusion Applications Help, Legal Entity Time Zones in Receivables: Explained