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Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions (Q29-Q34):

NEW QUESTION # 29
You are trying to use the Match in Full option for a purchase order, but your search for the PO is returning no results.
Which two are the reasons for this?

A. The match approval level is set to 3-way matching
B. The match approval level is set to 4-way matching
C. The Supplier or Purchase Order is set up for self-billing
D. The Purchase Order is already partially matched to an invoice

Answer: C,D

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Financials Cloud, the Match in Full feature allows users to create invoices by matching the full amount of a purchase order (PO) efficiently. However, certain conditions can prevent a PO from appearing in the Match in Full search results.
Analysis of Each Option:
A: The match approval level is set to 4-way matching
* Explanation: The match approval level determines the matching requirements between the PO, receipt, inspection, and invoice. A 4-way matching requires that the PO, receipt, accepted quantities from inspection, and invoice quantities all match within defined tolerances before payment approval. This setting, however, does not impact the availability of the PO in the Match in Full search results.
Therefore, a 4-way matching configuration is not a reason for the PO not appearing in the search results.
B: The Supplier or Purchase Order is set up for self-billing
* Explanation: Self-billing arrangements mean that the buyer generates the invoice on behalf of the supplier. In such scenarios, the Match in Full feature is not applicable because the invoicing process is handled differently. As per Oracle documentation, "Match in Full can't be used in the following circumstances:... A supplier or the purchase order is set up for self-billing." docs.oracle.com Therefore, if the supplier or PO is configured for self-billing, the PO will not appear in the Match in Full search results.
C: The match approval level is set to 3-way matching
* Explanation: Similar to 4-way matching, a 3-way matching requires that the PO, receipt, and invoice quantities match within tolerances before payment approval. This setting ensures that the goods received and invoiced align with the PO terms. However, the match approval level, whether 3-way or 4- way, does not affect the PO's availability in the Match in Full search results. Thus, a 3-way matching configuration is not a reason for the PO not appearing in the search results.
D: The Purchase Order is already partially matched to an invoice
* Explanation: The Match in Full feature is designed for situations where the supplier sends an invoice for the full amount of the PO. If a PO has already been partially matched to an invoice, it indicates that some portions of the PO have been invoiced, and the remaining amounts do not represent the full PO value. According to Oracle documentation, "Match in Full can't be used in the following circumstances:... The purchase order has already been partially matched to an invoice." docs.oracle.com Therefore, a PO that has been partially matched will not appear in the Match in Full search results.
Conclusion:
The two reasons preventing the purchase order from appearing in the Match in Full search results are:
* B. The Supplier or Purchase Order is set up for self-billing
* D. The Purchase Order is already partially matched to an invoice
These conditions make the Match in Full feature inapplicable, thereby excluding the PO from the search results.
Reference:
Oracle Financials Cloud Documentation - Overview of Creating Invoices Using Match in Fullhttps://docs.
oracle.com/en/cloud/saas/financials/24b/fappp/overview-of-creating-invoices-using-match-in-full.html

NEW QUESTION # 30
As an Oracle Financials Cloud Consultant, you are familiarizing yourself with the new features in Adaptive Learning using IDR. You recently learned about Adaptive Learning for Invoice Lines where the interactive invoice viewer can be used to make corrections to certain invoice line-level attributes.
Which are the three line-level attributes where the interactive invoice viewer can be used to make corrections?

A. Supplier
B. Amount
C. Description
D. Quantity
E. Invoice Requestor
F. Invoice Date
G. Invoice Number

Answer: B,C,D

NEW QUESTION # 31
MANAGE EXPENSE REPORT TEMPLATE
Task 2:
Create Expense Items, where:
a. The effective start date is the current date.
b. There is no tax implication.
c. Projects are not used.
d. Receipt and expense fields are the same as the expense report template.
e. The dinner expense item is associated with the Meal policy created in the previous challenge.

Answer:

Explanation:
See the Explanation for Step-by-Step Solution.
Explanation:
TASK 2: CREATE EXPENSE ITEMS
We need to create expense items with the following requirements:
# Effective Start Date: Set to current date.# No tax implications.# Projects are not used.# Receipt and expense fields should match those from the expense report template created earlier.# Dinner expense item must be linked to the Meal policy created in the previous task.
Step-by-Step Solution: Configuring Expense Items in Oracle Financials Cloud Step 1: Navigate to the Expense Items Setup
* Log in to Oracle Financials Cloud as an Expense Manager or Financial Administrator.
* Navigate to Setup and Maintenance.
* In the Search Bar, type "Manage Expense Items".
* Click on Manage Expense Items.
Step 2: Create Expense Items
* Click Create New Expense Item.
* Enter the following details:
Expense Item: Internet
* Name: "Internet"
* Expense Category: "Meals and Entertainment"
* Effective Start Date: Current Date
* Tax Classification Code: None (No tax implications)
* Projects Used? No (Uncheck "Enable for Projects")
* Receipt Required? Follow Template Policy
* Expense Fields? Set as Optional
# Click Save and Close.
Expense Item: Room Rate
* Click Create New Expense Item again.
* Enter the following details:
* Name: "Room Rate"
* Expense Category: "Lodging"
* Effective Start Date: Current Date
* Tax Classification Code: None
* Projects Used? No
* Receipt Required? Follow Template Policy
* Expense Fields? Set as Optional
# Click Save and Close.
Expense Item: Dinner (Linked to Meal Policy)
* Click Create New Expense Item again.
* Enter the following details:
* Name: "Dinner"
* Expense Category: "Meals and Entertainment"
* Effective Start Date: Current Date
* Tax Classification Code: None
* Projects Used? No
* Receipt Required? Follow Template Policy
* Expense Fields? Set as Optional
* Link to the Meal Policy Created Earlier:
* Navigate to Expense Policies.
* Select the previously created Meal Policy.
* Ensure that Dinner Expense Item is associated with this policy.
* Set Limit Type: Warning Only (if applicable).
# Click Save and Close.
Step 3: Validate and Confirm the Expense Items
* Review the created expense items.
* Ensure that:
* No tax classification codes are applied.
* Projects are disabled.
* Receipt and expense fields match those in the Expense Report Template.
* Dinner Expense Item is correctly linked to the Meal Policy.
# Click Submit and Activate.
Step 4: Test the Expense Items
* Simulate an Expense Report Submission:
* Select Internet, Room Rate, and Dinner as expense types.
* Enter sample amounts.
* Ensure that:
* No tax implications appear.
* Projects field is disabled.
* Receipt rules match the Expense Report Template.
* A warning is displayed if the Dinner Expense exceeds the Meal Policy limit.
Expected Outcome:
# Expense items are successfully created.# No tax implications are applied.# Projects are not enabled.# Receipts and expense fields match the template.# Dinner expense item is linked to the Meal Policy and displays a warning if the limit is exceeded.
Conclusion
By following these steps, we have successfully created expense items that comply with all business requirements.

NEW QUESTION # 32
Which three are valid reasons why you cannot close your Payables period?

A. Unapplied prepayments
B. Suppliers on payment holds
C. Bills payable requiring maturity
D. Unaccounted invoices and payments
E. Incomplete payment files

Answer: C,D,E

Explanation:
Comprehensive and Detailed In-Depth Explanation:
Closing a Payables period in Oracle Financials Cloud requires that all transactions for the period are fully processed and accounted for. The system enforces certain checks to ensure data integrity and accurate financial reporting. The following are valid reasons that can prevent the closure of a Payables period:
* Incomplete Payment Files (Option B):
* Explanation: Payment files that have been initiated but not completed will prevent period closure. All payment processes must be finalized to ensure that all disbursements are accurately recorded.
Reference: Considerations for Closing a Payables Period
Bills Payable Requiring Maturity (Option C):
Explanation: Bills payable that have not yet reached their maturity date or have not been accounted for will block the period from closing. It's essential to update the status of all bills payable to reflect their maturity and ensure they are accounted for in the correct period.
Reference: Payables Period Close Exceptions Report
Unaccounted Invoices and Payments (Option D):
Explanation: Invoices and payments that have been entered but not yet accounted for will prevent period closure. All such transactions must be fully processed and posted to the general ledger to ensure financial statements are accurate and complete.
Reference: Considerations for Closing a Payables Period
Options A and E are not valid reasons for preventing period closure:
Unapplied Prepayments (Option A):
Explanation: While unapplied prepayments represent amounts paid in advance that have not yet been matched to invoices, they do not prevent the closure of a Payables period. These can remain unapplied across periods and do not impact the period close process.
Suppliers on Payment Holds (Option E):
Explanation: Suppliers placed on payment holds indicate that payments to these suppliers are temporarily suspended. This status does not affect the ability to close a Payables period, as it pertains to future payments rather than existing transactions within the period.
In summary, to successfully close a Payables period, ensure that all payment files are complete, bills payable are matured and accounted for, and all invoices and payments are fully processed and posted.

NEW QUESTION # 33
A Payables user creates a manual invoice, and a Withholding Tax Classification Code defaults on the invoice line when the invoice is saved. Where does this Withholding Tax Classification Code default from?

A. From the Site Assignments of the Supplier Site
B. From the Site Assignments of the Supplier Site (Correct Answer)
C. From the Party Tax Profile of the Third Party Site
D. From the Ship-to Location selected on the invoice

Answer: A

Explanation:
The Withholding Tax Classification Code can be assigned at the supplier site level in Oracle Financials Cloud.
When a supplier site has a predefined withholding tax classification, this automatically defaults onto the invoice line when an invoice is created for that supplier site.
This setup ensures that consistent withholding tax is applied to transactions related to that supplier.
According to Oracle documentation:
"For supplier sites that use withholding tax, the withholding tax classification that you define at the supplier site assignment level is used to populate the default tax classification on the invoice." (Oracle Financials Cloud Payables Guide) B: From the Party Tax Profile of the Third Party Site (Incorrect Answer) The Party Tax Profile contains tax-related settings for a supplier or third-party entity, including tax registration details.
However, it does not directly default the Withholding Tax Classification Code onto invoice lines.
Instead, the Party Tax Profile provides high-level tax configurations that may influence tax calculations but does not assign the default withholding tax classification.
C: From the Ship-to Location selected on the invoice (Incorrect Answer) The Ship-to Location on an invoice is used for logistics and sales tax calculations based on where goods are delivered.
It does not impact withholding tax, which is typically linked to the supplier or supplier site.
Therefore, the Withholding Tax Classification Code does not default from the Ship-to Location.
Final Conclusion:
The correct source of the default Withholding Tax Classification Code on an invoice line is the Supplier Site Assignment.
This ensures that withholding tax is consistently applied to transactions involving that supplier, reducing errors in tax calculations.
Reference:
Oracle Financials Cloud Documentation - Withholding Tax Classifications in Payables (Oracle Documentation Link) Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Financials Cloud, when a Payables user creates a manual invoice, the Withholding Tax Classification Code can default onto the invoice line from various sources depending on the system configurations. The correct source for defaulting this code is from the Site Assignments of the Supplier Site.
Explanation of Each Option:

NEW QUESTION # 34
......

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