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Oracle 1z1-506 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Transaction Processing	25%	- Revenue Management 1. Manage contingencies 2. Define revenue recognition policies 3. Review revenue accounting - Invoicing 1. Create and update invoices 2. Correct and adjust transactions 3. Manage credit and debit memos
Topic 2: Receivables Setups	22%	- Transactions Setup 1. Configure transaction sources 2. Set up memo lines 3. Define transaction types - Receipts Setup 1. Define receipt classes and methods 2. Set up remittance bank accounts 3. Configure autoCash rule sets - System Options 1. Set up autoaccounting 2. Define receivables system options 3. Configure accounting options
Topic 3: Collections and Period Close	13%	- Collections Management 1. Use collections dashboard 2. Process disputes and follow-ups 3. Manage dunning and correspondence - Period Close 1. Complete receivables period close 2. Generate reports and inquiries 3. Reconcile to general ledger
Topic 4: Customer Management	20%	- Customer Accounts 1. Create and maintain customer accounts 2. Define profile classes 3. Manage customer sites and contacts - Credit Management 1. Set up credit limits 2. Configure credit checking rules
Topic 5: Receipt Processing and Application	20%	- Receipt Creation 1. Import receipts via lockbox 2. Process automatic receipts 3. Enter manual receipts - 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:

1. What is the impact on transactions if you change the billing cycle for a customer of group of customers?

A) The billing cycle does NOT have any impact on new transactions.
B) Existing transactions with activity adapt the; new billing cycle.
C) New transaction after this change inherit the new billing cycle.
D) Existing transactions with NO activity retain the old billing cycle.

2. The collections Manager runs the Determine Delinquency Using Scoring program to identify delinquent transitions. She wants to know the status of a particular transaction. On which tab she will find the status.

A) Customer Aging tab
B) Transaction Details tab
C) Transactions tab
D) Transaction aging tab

3. You are an Accounts Receivables Manager and you have the Receivables Inquiry Duty role attached to your Job Role. What tasks are you allowed to perform under this duty role?

A) View Receivables Invoices
B) View Receivables Credit Memos
C) Review Customer Account Activities
D) Dispute Receivable transactions
E) View Receivables Receipts

4. You have confirmed an automatic receipt in error. What is the correct method to rectify the error?

A) Unconfirm the automatic receipt.
B) Reverse and recreate the receipt.
C) Delete the automatic receipt batch.
D) Remove the receipt from the batch.

5. Which three transaction types are used to generate late charges?

A) Credit Memo
B) Debit Memo
C) Cash Receipts
D) Invoice Interest
E) Adjustments against the original transaction

Solutions:

Question # 1
Answer: C

Question # 2
Answer: C

Question # 3
Answer: C

Question # 4
Answer: B

Question # 5
Answer: B,D,E