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You have created an Invoice with an incorrect unit price. You need to perform the Rebill task from the Manage Transactions user interface to enter the correct transaction. Which two actions does the Manage Transactions user interface allow you to perform for the Rebill task?
A. Duplicate the original transaction.
B. Create a credit memo.
C. Incomplete the transaction.
D. Reverse the Transaction.
E. Correct the unit price.
Answer: A, B
When do I credit and rebill a transaction?
Sometimes the simplest way to manage a credit transaction is to credit and rebill. You credit the entire balance of an invoice (B), duplicate the original invoice (A) and update the duplicate with the correct information, then resubmit to the customer.
Common scenarios for credit and rebill include:
A customer indicates that an invoice does not reflect the correct price of a product or service. The customer requests a new invoice with the correct information.
A customer wants to correct their accounting directly in the subledger, instead of making a manual journal entry in general ledger. With credit and rebill, the credit memo reverses the accounting of the original invoice, and the updated duplicate invoice creates new accounting for posting to general ledger.
The customer wants to change the bill-to information on a posted transaction.
Reference: Oracle Fusion Applications Order Fulfillment, Receivables, Payments, Cash, and Collections Guide, When do I credit and rebill a transaction?
Select three values that default from Customer Profile Classes.
B. Legal Entity
C. Payment Terms
D. Statement Cycle
E. Business Purpose
Answer: A, C, D
The customer profile class shares these default settings with other parts of Oracle Fusion Receivables: Match Receipts By; AutoMatch rule set; AutoCash rule set; AutoInvoice Grouping rule; payment terms (C); and tax printing options.
Use Customer Profiles to group customers with similar credit worthiness, business volume, and payment cycles. For each profile class you can define information such as credit limits, payment terms, statement cycles, invoicing, and discount information. You can also define amount limits for your finance charges, dunning, and statements for each currency in which you do business.
Define your standard customer profiles in the Customer Profile Classes window. These profiles contain generic options you can use to group your customers into broad categories. For example, you might define three categories: one for prompt paying customers with favorable credit limits; one for late paying customers with high finance charge rates; and a third for customers who mostly pay on time, with discount incentives for early payment. You can also use the profile class which the system provides.
Assign a profile class to each of your customers and addresses in the Customers window. The customer profile class you assign provides the default values, then you can optionally customize these values to meet your specific requirements for each customer or address. If a profile is assigned to both a customer and one of that customer’s addresses, the options set for the address take precedence over those set at the customer level.
The collections Manager runs the Determine Delinquency Using Scoring program to identify delinquent transitions. She wants to know the status of a particular transaction. On which tab she will find the status.
A. Customer Aging tab
B. Transaction Details tab
C. Transactions tab
D. Transaction aging tab
Note: Transactions do not become delinquent until the delinquency identification process is run and the dashboard summary table is latest.
Select three valid statements related to the Shared Service Model.
A. Shared Service Personnel can view Invoices across various business units.
B. Shared Service Personnel can do cross-business unit cash application.
C. Shared Service Personnel can process invoices for various business units.
D. Shared Service Personnel can see customer account details across business units.
E. Shared Service Personnel can report data across all business units but can enter transactions ONLY against one business unit.
Answer: A, C, D
In Oracle Fusion applications, the service provider model defines relationships between business units for a specific business function, identifying one business in the relationship as a service provider of the business function, and the other business unit as its client.
Shared Service Center: Points to Consider Oracle Fusion applications supports shared service centers in two ways. First, with business unit security, which allows your shared service centers personnel to process.
The drilldown option available in the task pane for receipts does NOT include.
A. Create Remittance via Spreadsheet
B. Correct Funds Transfer Errors
C. Lockbox Transmission History
D. Create Receipt via Spreadsheet
You can click the manager Invoice Lines from the Billing Work Area to find Autoinvoice Exceptions. What parameters are used to summarize the exceptions for review?
A. Business Unit, Transaction Type, Invoice Date, Currency
B. Business Unit, Customer Name, Transaction Source, Total Amount
C. Business Unit, Transaction Source, Creation Date, Currency
D. Business Unit, Transaction Source, Transaction Type, Creation Date
Which functionality is NOT provided by the Receivables to Ledger Reconciliation Report?
A. Limiting the display using the ad hoc parameter
B. Drilldown to see reconciling details
C. Drilldown to see what needs to transfer and post to the general ledger
D. Graphical and visualization components for viewing the reconciliation details
E. The reasons for the reconciling differences
You are the Billing Manager and you are in charge of reviewing transactions and approving them. Which two tabs are available for your role in the Adjustments Overview Region on the Billing Work Area page?
A. Pending My Approval
B. Pending Approval
C. Pending Approval from Others
E. Pending Research