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Oracle 1z1-507 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Payables Setup and Configuration | 20% | - Configure tax and accounting rules - Define payment terms and payment methods - Configure Payables system options - Set up supplier and supplier sites |
| Topic 2: Payments Processing | 20% | - Payment formats and bank integration - Single payments and batch payments - Stop and void payments - Create and manage payment process requests |
| Topic 3: Accounting, Period Close and Reporting | 15% | - Run Payables reports and analytics - Transfer to General Ledger - Manage accounting periods - Create accounting entries |
| Topic 4: Expense Reports Management | 10% | - Audit and process expense reports - Expense report approval workflow - Enter and submit expense reports |
| Topic 5: Invoice Processing | 25% | - iSupplier Portal invoice entry - Prepayments and credit memos - Invoice matching and holds resolution - Enter and validate invoices |
| Topic 6: Overview of Oracle Fusion Payables | 10% | - Payables concepts and architecture - Payables dashboard and work areas |
Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:
A company has a business requirement that all invoices go through an approval process flow.
Identify three features of the Invoice Approval workflow that meets their requirement.
- A. allows for corrections to invoices to be made while still in the approval routing process
- B. provides automatic routing of invoices upon approval to another designated approver
- C. provides Lime limits as to how long an invoice can remain unapproved before being automatically rerouted to the next approver
- D. has predefined criteria to identify which invoices require approval
- E. allows automatic resubmission of an invoice if rejection occurs
Correct Answer: B,D,E 🗳️
Explanation: Only visible for Pass4Leader members. You can sign-up / login (it's free).
A Payment Process Request is issued with a payment type of Manual.
Which two payment statuses will allow the manual payment to be voided?
- A. Issued
- B. Pending proposed payment review
- C. Payment file build
- D. Cleared
- E. Negotiable
Correct Answer: B,E 🗳️
Explanation: Only visible for Pass4Leader members. You can sign-up / login (it's free).
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 Forms Recognition verifier and submit then after correcting the exceptions.
- B. Review incomplete batches using Oracle Imaging and Process Management and resubmit them after correcting the exception.
- C. Review incomplete batches using Oracle Document Capture and resubmit them after correcting the exceptions.
- D. Review incomplete batches using Oracle Forms Recognition Runtime Service and resubmit them after correcting the exceptions.
- E. Review incomplete batches using Enterprise Content management and submit them after correcting the exceptions.
Correct Answer: A 🗳️
Explanation: Only visible for Pass4Leader members. You can sign-up / login (it's free).
An installment for $1000 is due for payment on January 10, 2012. The installment has two discounts: the first discount date is December 5, 2011 for $150 and the second discount date us December 20, 2011 for $100. The Pay Date Basis on the supplier site is Discount.
You submit a payment process request:
-Payment Date = December 5, 2011 -Pay Through Date = December 25, 2011 -Date Basis = Pay date -Always Take Discount option = Enabled
What will be the resulting status of the installment and discount?
- A. The installment is NOT selected because the first discount date NOT BEFORE the Pay Through Date.
- B. The installment is NOT selected but discount of $150 is availed because the Always Take Discount option is enabled
- C. The installment is selected and a discount of $150 is available because the always Take Discount option is enabled.
- D. The installment is selected and a discount of $0 is available because the payment date is after the discount dates.
- E. The installment is selected and a discount of $100 is availed because only the latest discount date is committed.
Correct Answer: C 🗳️
Explanation: Only visible for Pass4Leader members. You can sign-up / login (it's free).
Which two actions can a supplier perform through the Supplier Portal?
- A. View invoices
- B. View payments
- C. View receivables
- D. View Purchase Orders
- E. View Distribution Sets
Correct Answer: A,B 🗳️
Explanation: Only visible for Pass4Leader members. You can sign-up / login (it's free).
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