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NEW QUESTION 45
A client rents equipment for special events. They have the following invoicing requirements: invoice must De entered and be due either immediately, or 20 or 10 days before the event. The Deferred Event Revenue Account for Rentals is to be credited at the time of invoice booking. After the events occur, the client wants all lines to debit the Deferred Event Revenue Account and credit the Event Revenue.
How can you meet this requirement?

• A. Create a Revenue Contingency with Revenue Policy as None and Contingency Primary Removal Event as Payment.
• B. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Invoicing, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
• C. Create a Revenue Contingency with Revenue Policy as None, Contingency Primary Removal Event as Contingency Expiration, and Optional Removal Event as Transaction Date, with Transaction Date being the Event Date.
• D. Create a Revenue Contingency with Revenue Policy as Credit, Contingency Primary Removal Event as Milestone Billing, and Optional Removal Event as Fulfillment Date.

Answer: A

 

NEW QUESTION 46
Identify two late charge interest calculation methods. (Choose two.)

• A. Overdue Transactions only
• B. Adjusted Balance
• C. Average Daily Balance
• D. Previous Balance

Answer: A,C

 

NEW QUESTION 47
When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition.
Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two.)

• A. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
• B. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
• C. Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.
• D. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
• E. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.

Answer: B,D

 

NEW QUESTION 48
Identify a valid reason for a Collector being unable to enter a dispute against a particular transaction.

• A. The transaction is partially paid.
• B. The transaction type is not associated with a credit memo type.
• C. The invoice is not closed.
• D. The transaction is an invoice.
• E. The transaction date falls in a closed period.

Answer: B

 

NEW QUESTION 49
You are trying to migrate the Subledger Accounting setup by using the Export and Import functionality in the Setup and Maintenance work are a. The import process, however, returns errors. Identify two reasons for the import failure.

• A. an inactive Accounting Method
• B. an inactive Journal Entry Rule Set
• C. an inactive Journal Line Type
• D. an inactive Mapping Set

Answer: D

 

NEW QUESTION 50
Which two statements are true about Accounting for Tax on Receivables? (Choose two.)

• A. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account of the tax code.
• B. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account that is defined on the receivable activity.
• C. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to Yes, Receivables derive the item distribution from the invoice and the tax account from auto-accounting.
• D. For Miscellaneous receipts, if the receivable activity tax rate code source is Activity for the activity type of Miscellaneous Cash, Receivables use the tax account that is defined on the receivable activity.
• E. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to No, Receivables derive the tax account from auto-accounting.
• F. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables derive the tax account from auto-accounting.

Answer: B,C

 

NEW QUESTION 51
Identify the receivables system option that relates to customers.

• A. Default Country
• B. Reciprocal Customer
• C. Receipt Method
• D. Automatic Site Numbering

Answer: A,C

 

NEW QUESTION 52
Your customer wants to retrieve values for the Line of Business segment based on Customer Class for the Revenue account.
Which option would you use to achieve this with the help of the Subledger Accounting solution?

• A. Supporting References
• B. Transaction References
• C. Description Rule
• D. Mapping Set

Answer: A

 

NEW QUESTION 53
If a receipt cannot be automatically matched or transaction information is not available, Receivables can use the AutoCash rule set.
In which three places is the rule set found? (Choose three.)

• A. Customer Account
• B. Receipt Method
• C. Customer Site
• D. System Options
• E. Receipt Class

Answer: A,B,C

Explanation:
If transactions cannot be matched or transaction information is not available, Receivables uses the AutoCash rule set defined for the customer profile either at the customer site or customer level to apply the receipt. If the customer does not have an AutoCash rule set assigned to a profile, Receivables uses the AutoCash rule set assigned to system options and the number of discount grace days defined in the customer site or customer profile to apply the receipt.

 

NEW QUESTION 54
What are three functions of the Create Automatic Receipt Write-offs program? (Choose three.)

• A. scheduling periodic write-offs as receipt adjustments for small remaining balances
• B. scheduling periodic write-offs to occur in future periods
• C. limiting write-offs by a percentage of the original receipt amount
• D. scheduling periodic write-offs as receipt adjustments for old remaining balances
• E. creating write-offs for specific currencies and customers

Answer: A,C,E

 

NEW QUESTION 55
Which two initial tasks need to be completed in the Customer Account Profile page in order to generate and deliver XML invoices under the OAGIS (Open Applications Group Integration Specification) 10.1 format?

• A. Select the Enable OAGIS 10.1 XML Format Check Box
• B. Set Preferred Contact Method to XML
• C. Set Preferred Delivery Method to XML
• D. Select the Enable XML Invoicing Check Box for Relevant Transaction Classes
• E. Set Preferred Delivery Methods to Email

Answer: B,D

 

NEW QUESTION 56
When a customer opts to make a payment by a credit card, this receipt is identified as a(n)
_______________.

• A. AutoLockbox receipt
• B. manual receipt
• C. quick cash receipt
• D. automatic receipt
• E. miscellaneous receipt

Answer: D

 

NEW QUESTION 57
Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)

• A. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.
• B. You need to submit the Extract Intercompany Reconciliation Data job.
• C. The ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.
• D. The Transaction Summary Report shows only transactions with a status of received.
• E. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.

Answer: C,E

 

NEW QUESTION 58
Your customer upload batch completes with an error and you identify the error as being due to incorrect payment method.
Which action should you take the resolve the Issue?

• A. Use the Customer Payment Method Exceptions spreadsheet.
• B. Correct error and resubmit the batch.
• C. Use the Customer Data Exceptions spreadsheet.
• D. Troubleshoot In the Manage Customers page.

Answer: A

 

NEW QUESTION 59
Your customer wants to override the calculated tax line amount for their receivable transaction.
What steps should the customer perform to ensure that only one of their employees has this privilege?

• A. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable application and create a tax rule to grant this privilege only to the selected employee.
• B. Set the "Transaction Tax Line Override" profile option to Yes for the selected employee and assign the employee the "Tax Manager <Business Unit>" data role.
• C. Enable the "Allow tax rate override" and "Allow manual tax lines" profiles at the user level, set, the value to Yes for the selected employee, and grant the "Tax Manager <Business Unit>" data role to the employee.
• D. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and set the "Transaction Tax Line Override" profile option to Yes for the selected employee.
• E. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and grant the employee the "Tax Manager <Business Unit>" data role.

Answer: B

 

NEW QUESTION 60
You are explaining the benefits of using Bill Management as a self-service electronic bill presentment solution to an existing customer.
Which feature is not supported in Bill Management?

• A. Making payments by using a credit card or the bank account
• B. Managing disputes
• C. Managing unapplied payments
• D. Managing credit memos
• E. Reviewing customer account balances

Answer: A

 

NEW QUESTION 61
The method that is used to capture receipts data in mass while you are offline and upload the receipts at a later date is called ______________.

• A. automatic receipts creation
• B. manual receipt entry
• C. receipts creation in a spreadsheet
• D. Lockbox receipts creation

Answer: C

 

NEW QUESTION 62
Which two items are required for customer invoicing? (Choose two.)

• A. Remit-to-address
• B. Customers
• C. Customer Profile Class
• D. Lockbox

Answer: C,D

 

NEW QUESTION 63
What is the order used to group transaction lines during the AutoInvoice Import process?

• A. Transaction Source, Customer Account Profile, Customer Site Profile, system options
• B. System options, Customer Site Profile, Transaction Source, Customer Account Profile
• C. Transaction Source, Customer Account Profile, system options, Customer Site Profile
• D. Transaction Source, Customer Site Profile, Customer Account Profile, system options

Answer: D

 

NEW QUESTION 64
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