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Oracle 1z1-506 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Customer Management20%- Customer Accounts
  • 1. Create and maintain customer accounts
    • 2. Manage customer sites and contacts
      • 3. Define profile classes
        - Credit Management
        • 1. Set up credit limits
          • 2. Configure credit checking rules
            Topic 2: Transaction Processing25%- Revenue Management
            • 1. Review revenue accounting
              • 2. Define revenue recognition policies
                • 3. Manage contingencies
                  - Invoicing
                  • 1. Manage credit and debit memos
                    • 2. Create and update invoices
                      • 3. Correct and adjust transactions
                        Topic 3: Receivables Setups22%- Transactions Setup
                        • 1. Define transaction types
                          • 2. Set up memo lines
                            • 3. Configure transaction sources
                              - System Options
                              • 1. Set up autoaccounting
                                • 2. Configure accounting options
                                  • 3. Define receivables system options
                                    - Receipts Setup
                                    • 1. Configure autoCash rule sets
                                      • 2. Define receipt classes and methods
                                        • 3. Set up remittance bank accounts
                                          Topic 4: Collections and Period Close13%- Period Close
                                          • 1. Generate reports and inquiries
                                            • 2. Complete receivables period close
                                              • 3. Reconcile to general ledger
                                                - Collections Management
                                                • 1. Manage dunning and correspondence
                                                  • 2. Process disputes and follow-ups
                                                    • 3. Use collections dashboard
                                                      Topic 5: Receipt Processing and Application20%- Receipt Creation
                                                      • 1. Enter manual receipts
                                                        • 2. Process automatic receipts
                                                          • 3. Import receipts via lockbox
                                                            - Receipt Application
                                                            • 1. Apply receipts to open items
                                                              • 2. Process chargebacks and adjustments
                                                                • 3. Manage unapplied and on-account receipts

                                                                  Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

                                                                  When adding a customer and using profile classes to organize the customer accounts, which three options are true?

                                                                  • A. Fusion Receivables assigns a DEFAULT profile class when creating an account site.
                                                                  • B. Fusion Receivables assigns the profile class DEFAUIT when creating a customer account.
                                                                  • C. Receivables allows customized details of the profile class once the profile class has been assign to an account or site.
                                                                  • D. Profile class updates and assignments are managed using effective date ranges.
                                                                  • E. Receivable does NOT allow customization to the account profile information after it is assigned to an account or site.
                                                                  • F. Updates applied to a particular account or site effect the profile class record.
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: B,C,D  🗳️

                                                                  Explanation: Only visible for PassLeaderVCE members. You can sign-up / login (it's free).

                                                                  What are the three ways a Dispute Request can be submitted?

                                                                  • A. By an Account Receivables Specialist through the Receivables Balances Work Area
                                                                  • B. By a Billing Manager through the Transaction UI in the Adjustment Work Area
                                                                  • C. By a Collections Agent through the Advanced Collections application in the Customer Work Area
                                                                  • D. By a Billing Specialist through the Billing Work Area
                                                                  • E. By a Receivable Manager through the Reconciliation Work Area
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: C,D,E  🗳️

                                                                  Explanation: Only visible for PassLeaderVCE members. You can sign-up / login (it's free).

                                                                  A dunning letter issued at the customer business operational-level includes which transactions?

                                                                  • A. Only bill-to-location-level transactions
                                                                  • B. Only account level transactions.
                                                                  • C. Only customer-level transactions
                                                                  • D. Customer-, account-, AND bill-to-location level transactions
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: D  🗳️

                                                                  Explanation: Only visible for PassLeaderVCE members. You can sign-up / login (it's free).

                                                                  You can click the manager Invoice Lines from the Billing Work Area to find Autoinvoice Exceptions. What parameters are used to summarize the exceptions for review?

                                                                  • A. Business Unit, Customer Name, Transaction Source, Total Amount
                                                                  • B. Business Unit, Transaction Type, Invoice Date, Currency
                                                                  • C. Business Unit, Transaction Source, Creation Date, Currency
                                                                  • D. Business Unit, Transaction Source, Transaction Type, Creation Date
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: C  🗳️

                                                                  Explanation: Only visible for PassLeaderVCE members. You can sign-up / login (it's free).

                                                                  The Billing manager has navigated to the Billing Work Area to complete a transaction. The Incomplete transactions Overview Region on the Billing Work Area page has a drilldown option through which column to complete the transaction?

                                                                  • A. Transaction Date
                                                                  • B. Transaction Class
                                                                  • C. Transaction Number
                                                                  • D. transaction Source
                                                                  Reveal Solution  Discussion  0

                                                                  Correct Answer: C  🗳️

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