When entering a manual invoice, the revenue account code combination is incomplete with the Department segment left blank. Which are the three reasons for this?
are applied across different customers. Verified Reference: [How You Process Lockbox Receipts - Oracle] When defining the receipt method for automatic receipt processing, the business requirement is to produce the minimum number of payments. Which receipt rule should you define?
C. DaysLate D. Not Applicable Explanation: This is the condition that must be set for the transaction level when defining a new strategy task by transaction type. DaysLate is the number of days that a transaction is past due. You can use this condition to execute strategies based on how overdue a transaction is. Verified Reference: [How You Define Strategy Tasks by Transaction Type - Oracle] In Advanced Collections, scoring formulas are used to effectively manage your collection activities and strategies. Scoring formulas contain data points that help determine the collectability of your outstanding balances. To determine the number of days passed since the last payment was received from a customer, you can use the Age of Latest Payment data point. At which details?
5. Click Confirm. Manage Transaction Types Scenario A US based company acquired on January 1. 2023. requires Supremo US Business Unit to capture invoices in Oracle Financials Cloud. Task: Define a new Transaction Type for the class invoice, where: Define a new Transaction Type for the class invoice, where: Name of the transaction type is XXinvoice (Replace XX with 03. which is your allocated User ID.) Customer bills assigned to this transaction type must be printed Transaction type is meant for billing transactions With open balances Balances need to be maintained for invoices associated with this transaction type Freight charges must be allowed Cash applications to invoices assigned to this transaction type must not exceed the invoice balance due Invoices associated with this transaction type must be accounted for in the General Ledger application. Revenue GL account 41000 should be assigned as a reference account for the business unit in question and the company segment must be 120 Supremo Fitness ee the explanation below for solution. Explanation: Log in to Oracle Financials Cloud. Click on the Transaction Types icon in the Receivables work area. Click on the Create button. In the Transaction Type window, enter the following information: Name: XXinvoice Class: Invoice Transaction Action: Create Transaction Source Type: Customer Print Customer Bills: Yes Allow Freight Charges: Yes Allow Cash Applications: Yes
Accounting: Reference Account: 41000 Company Segment: 120 Supremo Fitness Click on the Save button. The new transaction type will be created and the customer bills associated with this transaction type will be printed. The balances will also be maintained for invoices associated with this transaction type. Freight charges will be allowed and cash applications to invoices assigned to this transaction type must not exceed the invoice balance due. The invoices associated with this transaction type will be accounted for in the General Ledger application. The revenue GL account 41000 will be assigned as a reference account for the business unit in question and the company segment must be 120 Supremo Fitness. Steps to confirm the Oracle Applications Cloud version: Click on the Settings and Actions menu under your profile in the Oracle Applications Cloud window. Click on About This Application in the Settings and Actions menu. Copy the complete version number from the About this Application pop-up in the Oracle Application Cloud window. Paste the version number in the box below. Click Confirm. Version Number: 21A Manage Balance Forward Billing Cycles and Payment Terms Scenario You are a consultant for a client who is implementing the Balance Forward Billing feature in Oracle Financials Cloud. You have been asked to define Balance Forward Billing Cycle as well as Balance Forward Billing Payment Terms so that your client can generate consolidated bills. Task: Create Balance Forward Billing Cycle, where: Name of the cycle is XXCycle (Replace XX with 03. which is your allocated user ID.) Bills are generated every day Cycle is effective as Of January 1,2023
ee the explanation below for solution. Explanation: Log in to Oracle Financials Cloud. Click on the Balance Forward Billing icon in the Receivables work area. Click on the Cycles tab. Click on the Create button. In the Balance Forward Billing Cycle window, enter the following information: Name: XXCycle (Replace XX with your allocated user ID.) Billing Frequency: Daily Effective Date: January 1, 2023 Click on the Save button. The new balance forward billing cycle will be created. To create a Balance Forward Billing Payment Term: Click on the Payment Terms tab. Click on the Create button. In the Balance Forward Billing Payment Term window, enter the following information: Name: XXPaymentTerm (Replace XX with your allocated user ID.) Billing Cycle: XXCycle (The cycle that you created in the previous step.) Due Date: Next Business Day Overdue Days: 30 Click on the Save button. The new balance forward billing payment term will be created. Manage Balance Forward Billing Cycles and Payment Terms Scenario You are a consultant for a client who is implementing the Balance Forward Billing feature in Oracle Financials Cloud. You have been asked to define Balance Forward Billing Cycle as well as Balance Forward Billing Payment Terms so that your client can generate consolidated bills. Task: Define Balance Forward Payment Terms, where: Name of the payment term is XXNet 30 (Replace XX with 03, which is your allocated user ID.) Payment terms are accessible to all business units Discounts are applicable to the full invoice amount Discounts are applicable even when the customer does not send a full payment Payment terms are effective as of January 1. 2023 ee the explanation below for solution. Explanation: Log in to Oracle Financials Cloud. Click on the Payment Terms icon in the Receivables work area. Click on the Create button. In the Payment Terms window, enter the following information: Name: XXNet 30 (Replace XX with your allocated user ID.) Description: Net 30 payment terms Billing Cycle: All Cycles Due Date: Next Business Day Discount Days: 30 Discount Amount: 2% Discount Type: Percentage Discount Allowed: Yes Discount Allowed Even If Partial Payment: Yes
