Question 1

Which three attributes are displayed in the detail table of the Balance forward Bill infotile? (Choose three.)

Options :

A : Due date

B : Amount due on Bill

C : Past due Amount

D : Collector

E : Billing date

Answer: A,B,E

Question 2

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

Options :

A : The invoice is not closed.

B : The transaction is partially paid.

C : The transaction type is not associated with a credit memo type.

D : The transaction date falls in a closed period.

E : The transaction is an invoice.

Answer: C

Question 3

Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)

Options :

A : drilldown to see reconciliation details and to make reconciling corrections

B : drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition

C : drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity

D : drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger

E : drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel

Answer: A,B,C

Question 4

You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%. The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax.How would you achieve this?

Options :

A : Set the credit classification revenue recognition policy to look for Line First and Tax Later.

B : Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.

C : Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.

D : Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.

E : Set the payment terms revenue recognition policy to look for Line First and Tax Later

Answer: C

Question 5

Your organization is looking to adopt a flexible approach to control the creation of claims investigation when the lockbox files contain invalid positive remittance references. This feature helps manage lockbox files that encounter invalid transaction numbers for receipts with customer assignment. When this option is enabled in the Manage Receivables System Options task, which process must be run in Scheduled Processes to process Lockbox Receipts with invalid transaction referenced?

Options :

A : Process Receipts and Remittances through Lockbox

B : Process Lockbox Receipts

C : Process Lockbox Receipts and Remittance References

D : Process Receipts through Lockbox

Answer: B

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