1Z0-511 practice question 7 of 15

A customer is billed using deliverable billing events, which are currently approved by the customer and the finance director before invoicing. There are often invoices awaiting the finance director's approval and release. The Finance director would like to use functionality that allows all invoices to be approved and released automatically. How can this be achieved?

Full set: 70 questions

Answer options

A: Use deliverable management to automatically approve the invoice.

B: Implement the cost-to-cost billing extension.

C: Implement the cost accrual and project status inquiry extension.

D: Implement the invoice approval/release extension. Correct answer

E: Set the "Interface unreleased revenue to GL" profile option to "Yes."

Correct Answer:

D. Implement the invoice approval/release extension.

Explanation

The Automatic Invoice Approve/Release Extension allows you to release invoices automatically as part of the Generate Draft Invoice process. Incorrect: Not E: Generating Revenue Accounting Events After you generate and release the revenue, you run the concurrent program PRC: Generate Revenue Accounting Events. The concurrent program determines default unearned revenue and unbilled receivables accounts using AutoAccounting and generates accounting events for Oracle Subledger Accounting.
Note: If you set the profile option PA: Interface Unreleased Revenue to GL to yes, then Oracle Projects automatically releases any unreleased revenue when you run the concurrent program PRC: Generate Revenue Accounting Events.
Reference: Oracle Project Billing User Guide, Releasing Invoices

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