Pass the Oracle Financials Cloud 1z0-1107-2 Questions and answers with ExamsMirror

These are three attributes that can be captured on an Invoice Header while recording a supplier invoice in the Payables application. An Invoice Header is a section of an invoice that contains general information about the invoice, such as supplier details, invoice amount, invoice number, invoice date, payment terms, or description1. Some examples of these attributes are:

Supplier Details: These are the details of the supplier who issued the invoice, such as supplier name, site, contact person, address, or tax registration number.

Invoice Amount: This is the total amount of the invoice that is payable to the supplier, including taxes and charges.

Invoice Number: This is the unique identifier of the invoice that is assigned by the supplier or by the system. References: Oracle Financials Business Process Certified Foundations Associate Rel 1

Statistical Currency is the currency that you should use to create the journal entry to load the headcounts. Statistical Currency is a special currency that is used to record non-monetary values, such as headcounts, units, or hours. You can use Statistical Currency to create allocation journals based on non-monetary bases or drivers1. References: Oracle Financials Business Process Certified Foundations Associate Rel 1

These are three additional attributes that are considered for duplicate invoice check when the Additional Duplicate Invoice Check feature is enabled. The Additional Duplicate Invoice Check feature is a feature that enables you to perform a more comprehensive check for duplicate invoices in Oracle Payables. The feature compares the invoice number, supplier name, supplier site, invoice amount, invoice date, and invoice type of the invoices and flags any potential duplicates1. References: Oracle Financials Business Process Certified Foundations Associate Rel 1

Activities is the infotile where you can find the action items that you have created to follow up with a delinquent customer. Activities is an infotile that shows the list of tasks that you have scheduled or completed for your collections activities, such as phone calls, emails, letters, visits, or disputes. You can use it to view the details of each activity, such as status, priority, due date, and outcome1. References: 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. References: Oracle Financials Business Process Certified Foundations Associate Rel 1

Adaptive Intelligence is the technology that helps in calculating and recommending discounts for single payments in Oracle Payments. Adaptive Intelligence uses machine learning and data science to analyze historical payment data and provide optimal discount suggestions based on various factors, such as payment amount, due date, supplier profile, and cash flow1. References: Oracle Financials Business Process Foundations Associate Rel 2

These are three statuses that you can track by using the Additions infotile in the Assets work area. The Additions infotile is an infotile that shows the number of asset additions that require attention or action from you. You can use it to view and manage asset additions by their status, such as exceptions, incomplete, ready to post, or ready to transfer1. Some examples of these statuses are:

Exceptions: These are asset additions that have errors or warnings that prevent them from being transferred or posted.

Incomplete: These are asset additions that have missing or incomplete information, such as asset category, cost center, or depreciation method.

Ready to Post: These are asset additions that have been transferred from other sources, such as Payables or Projects, and are ready to be posted to General Ledger. References: Oracle Financials Business Process Certified Foundations Associate Rel 1

Customer Statement to Collection is the subprocess in the Invoice to Cash life cycle flow that helps you to manage and resolve disputes for delinquent invoices. It involves sending statements to customers, identifying overdue invoices, contacting customers, applying late charges, creating dispute cases, and applying adjustments or write-offs2. References: Oracle Financials Business Process Certified Foundations Associate Rel 1

These are two types of depreciation ceiling that you can use to restrict the amount of depreciation that should be charged to your luxury car in a particular period. Depreciation Cost Ceiling is a limit on the total depreciation amount that can be charged over the life of an asset. Depreciation Expense Ceiling is a limit on the depreciation amount that can be charged in a single period for an asset1. References: Oracle Financials Business Process Certified Foundations Associate Rel 1

These are four true statements about an effective subledger period close. A subledger period close is a process that ensures that all transactions and adjustments in a subledger application, such as Projects, Payables, Fixed Assets, or Receivables, are accounted and transferred to General Ledger for a given period. To perform an effective subledger period close, you need to follow a recommended sequence of steps and dependencies among different subledger applications1. Some of these steps and dependencies are:

Projects must be closed before Fixed Assets, which means that you need to ensure that all project-related transactions and adjustments are accounted and transferred to General Ledger before creating or adjusting any assets from projects in Fixed Assets.

Payable must be closed before Projects, which means that you need to ensure that all supplier invoice and payment transactions and adjustments are accounted and transferred to General Ledger before creating or adjusting any project expenditures from Payables in Projects.

Fixed Assets must be closed before Payables, which means that you need to ensure that all asset addition, depreciation, adjustment, and retirement transactions and adjustments are accounted and transferred to General Ledger before creating or adjusting any supplier invoices from assets in Payables.

Fixed Assets must be closed before Receivables, which means that you need to ensure that all asset-related transactions and adjustments are accounted and transferred to General Ledger before creating or adjusting any customer invoices from assets in Receivables. References: Oracle Financials Business Process Certified Foundations Associate Rel 1