1Z0-1107-2 Practice Questions

This is the correct accounting entry for reconciling a payment with a bank statement line when the payment is accounted at both issuing and clearing time. The cash clearing account is debited to reduce the balance of the payment that was issued, and the cash account is credited to increase the balance of the cash that was cleared1. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1

Process Category is an optional parameter that can be selected while submitting the create accounting job to generate accounting entries on a periodic basis. It helps you to restrict the events selected for accounting and it is useful for segmenting events based on processing volumes. For example, you can create different process categories for high-volume and low-volume transactions, or for different subledger applications2. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1

Debit Memo is the type of transaction that you would create to record the debit item for USD 2000. A debit memo is a transaction that increases the amount owed by a customer, such as a partial payment, a penalty, or a price adjustment. You can create a debit memo to close the original invoice and generate a new invoice for the remaining amount1. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1

Expense Report Audit Selection Rules are the configuration that will help you achieve the deployment of automatic controls to spot unusual or inappropriate expenses based on audit percentage, policy violations, specific keywords, and individuals with specific status. Expense Report Audit Selection Rules are rules that determine which expense reports are selected for audit based on various criteria, such as audit percentage, policy violations, specific keywords, and individuals with specific status. You can define different audit selection rules for different expense templates and types1. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1

Procure to Pay is a business process that covers the steps from requesting, ordering, receiving, and paying for goods or services. It involves requisitions, purchase orders, invoices, payments, and supplier management2. It is the recommended process for recording requisitions, buying goods or services, and managing supplier invoices and payments. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1

These are three preferred delivery methods that you can choose to send statements to your

customers while defining customer profile classes. A customer profile class is a grouping of

customers that share common attributes, such as credit limits, payment terms, or statement cycles.

You can define the preferred delivery method for each customer profile class to specify how you

want to send statements to your customers. The available delivery methods are fax, print, email, or

none1. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1

These are three attributes that can be used as selection criteria when submitting a payment process

request. A payment process request is a request to pay one or more invoices or other payments

within a single payment batch. You can use various attributes to filter and select the invoices or

payments that you want to include in the payment process request2. Some of these attributes are:

Invoice Type: This attribute allows you to select invoices based on their type, such as standard, credit

memo, debit memo, prepayment, or interest.

Pay Through Date: This attribute allows you to select invoices based on their due date or discount

date. Only invoices that are due or eligible for discount on or before the pay through date are

selected.

Pay Groups: This attribute allows you to select invoices based on their pay group, which is a grouping

of invoices that share common payment attributes, such as payment method, payment priority, or

payment terms. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1

These are three Cash Management infolets that you can find in the Analytics section of the home

page. Infolets are interactive tiles that display key information and metrics for a specific business

area. The Cash Management infolets provide a summary of your cash position, bank account

balances, reconciliation status, and missing statements2. Reference: Oracle Financials Business

Process Certified Foundations Associate Rel 1

These are three components that will be useful for the automatic reconciliation of bank statements

with system transactions. Automatic reconciliation is a feature that enables you to reconcile bank

statement lines with system transactions without manual intervention. You can use various

components to define the criteria and conditions for automatic reconciliation1. Some of these

components are:

Transaction Grouping Rules: These are rules that determine how system transactions are grouped

together for reconciliation purposes. You can group transactions by attributes, such as bank account,

currency, transaction type, or payment method.

Tolerance Rules: These are rules that define the acceptable differences between bank statement lines

and system transactions for reconciliation purposes. You can define tolerances by amount or

percentage, and by bank account or currency.

Matching Rules: These are rules that specify how bank statement lines and system transactions are

matched for reconciliation purposes. You can match transactions by attributes, such as transaction

number, amount, date, or reference number. Reference: Oracle Financials Business Process Certified

Foundations Associate Rel 1

These are two true statements about creating case folders within the Customer Statement to

Collections business process. A case folder is a collection of billing transactions that are related to a

specific issue or dispute with a customer. You can create case folders to track and resolve issues that

prevent customers from paying their invoices on time. You can also assign case owners, statuses, and

priorities to each case folder1. Some facts about creating case folders are:

Billing transactions can belong to multiple case folders, which means that a single invoice can be part

of more than one issue or dispute.

Billing transactions can be of multiple currencies, which means that you can include invoices with

different currencies in the same case folder.

Billing transactions must belong to the same bill-to customer, which means that you cannot mix

invoices from different customers in the same case folder.

Billing transactions must be of the same currency conversion type, which means that you cannot mix

invoices with different conversion methods, such as corporate or spot rate, in the same case

folder. Reference: Oracle Financials Business Process Certified Foundations Associate Rel 1