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Oracle 1z0-506 Exam Syllabus Topics:

SectionObjectives
Topic 1: Collections- Customer correspondence process
- Collection preferences setup
- Delinquency process deployment
- Dispute handling management
- Collections dashboard functionality
Topic 2: Billing and Revenue Management- Process billing transactions
- Bill presentment architecture
- Revenue management
- Billing dashboard analysis
Topic 3: Receipt Management- Customer refunds management
- Funds capture definition
- Receipt processing
- Receipt dashboard usage
Topic 4: Overview of Receivables- Customer management in Accounts Receivable
- Receivables dashboard analysis
- Reference data sets configuration
- Shared service model configuration
Topic 5: Other Accounts Receivable Topics- Subledger accounting configuration
- Late charges usage
- Period close process setup
- Write-offs, adjustments, and chargebacks

Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

1. The Billing Specialist has entered an invoice in a foreign currency. After completing the invoice she realized that she has to adjust the conversion rate on the transaction. The invoice is already paid and has a receipt applied to it. Which is the setup that is NOT relevant to the Billing Specialist?

A) Recreate the transaction at a new rate.
B) Incomplete the transaction.
C) Adjust the conversion rate.
D) Reverse the transaction.


2. Select the true statement about Balance Forward Billing.

A) Balance Forward Bill of a previous cycle need NOT be generated as Final to generate the balance Forward Bill of the current cycle.
B) Balance Forward Bill must be enabled at each bill-to site level.
C) Balance Forward Bills tan be created for a future date.
D) Transactions included on a Balance Forward Bill can be updated.


3. Select three valid statements related to the Shared Service Model.

A) Shared Service Personnel can do cross-business unit cash application.
B) Shared Service Personnel can see customer account details across business units.
C) Shared Service Personnel can process invoices for various business units.
D) Shared Service Personnel can report data across all business units but can enter transactions ONLY against one business unit.
E) Shared Service Personnel can view Invoices across various business units.


4. Where are the alerts and approvals displayed in the Collection Work Area?

A) Delinquent Customer List Region
B) Notification Pop-up
C) Watch list
D) Activities List


5. In a scenario receipts are factored receipt class that requires confirmation, remittance, and clearance. Select the valid accounting entry that would be generated when receipts are cleared.

A) The Cash and Bank charges accounts are debited and the Short term debt account is credited
B) The Factoring account is debited and the Short term debt account is credited.
C) The Cash and Bank charges accounts are debited and the Factoring account is credited
D) The Short term debt account is debited and the Factoring account is credited.


Solutions:

Question # 1
Answer: A
Question # 2
Answer: B
Question # 3
Answer: B,C,E
Question # 4
Answer: D
Question # 5
Answer: D

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