1Z0-506 Online Practice Questions and Answers

The drilldown option available in the task pane for receipts does NOT include .

A. Create Remittance via Spreadsheet

B. Correct Funds Transfer Errors

C. Lockbox Transmission History

D. Create Receipt via Spreadsheet

The billing Specialist creates an adjustment for an INCORRECT invoice and sends it for approval through the review and Manage Transaction link in the Billing Work Area. Since the adjustment amount is above approval limit, it is routed to the Billing Manager.

What is the status of the Adjustment when the approver sees the adjustment in his Work Queue?

A. Pending Research

B. Pending Approval

C. Approval Required

D. Waiting Approval

What is the grouping order used to group transaction lines during the Autoinvoice Import process?

A. transaction Source, Customer Site Profile, Customer Account Profile, system options

B. System options. Customer Site Profile, Transaction Source, Customer Account Profile

C. Transaction Source, Customer Account Profile, Customer Site Profile, system options

D. Transaction Source, Customer Account Profile, system options. Customer Site Profile

A company has implemented a flat interest calculation late charges. Determine the late charge based on:

Amount Overdue = $1,500

Interest Rate = 20%

Days Overdue = 10

Days in period = 30

Outstanding Charges = $80

A.

$300

B.

$100

C.

$105.33

D.

$1,580

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

A. Unconfirm the automatic receipt.

B. Remove the receipt from the batch.

C. Reverse and recreate the receipt.

D. Delete the automatic receipt batch.

The default dunning contact name can be specified in the .

A. Global Preferences in the Manage Collection Preferences

B. Preferences in the Manage Collection Preferences

C. Create Dunning Configuration in the Manage Dunning Configuration

D. Dunning Configuration Details in the Manage Dunning Configuration

What three Items must be set up in the Application Set Up Manager to facilitate refunds?

A. Credit card refunds

B. Non credit card refunds

C. Automatic Receipt Handling

D. Credit Card Chargeback

E. Late charges

A Receivables Manager wants to override the receipt remittance bank account with the remittance batch bank account.

Select three valid setups that will enable an override of the receipt remittance bank account.

A. Enable the Allow Override option on the receipt.

B. Both the receipt and remittance batch bank account should have different General Ledger at accounts defined.

C. Enable the Ignore the Override option on the remittance batch.

D. Enable the Override Bank option on the receipt remittance bank.

E. Disable the Ignore Override option on the remittance batch.

Which task does NOT belong to the task list Define Business Units?

A. Verify Service Clients.

B. Manage Service Provider Relationships.

C. Manage Set Assignments for Set Determinants.

D. Verify Data Role Generation for the Business Unit Business Function

The Accounts Receivables Specialist, while reviewing a customer account, saw a customer complaint about a percentage that was NOT applied to an invoice. The Accounts Receivables Specialist decides to initiate a dispute process for this transaction.

What is the action he has to perform to invoke the dispute?

A. Navigate to the Collections Workbench page and invoke the dispute.

B. Navigate to the Review and Manage Transaction Page-and invoke the dispute.

C. Navigate to the Review Customer Accounts Details user interface and invoke the dispute.

D. Navigate to the Manage Revenue Adjustments Page and invoke the dispute.

Which transaction will be included when selecting transactions of specified customers in the Createm Balance Forward Billing Program?

A. Transactions that have a Bill Type of Imported

B. Transactions that were included on a previous Balance Forward Bill

C. Transactions that have the selected payment terms

D. Transactions that have the Print Option set to Do Not Print

A company operates in a country with strict legislative requirements that requires the legal entity to maintain its accounting data separate from other legal entities within the company.

How will you assign legal entitles during the accounting configuration?

A. One legal entity for ALL ledgers

B. One legal entity per primary ledger

C. One legal entity per ledger

D. Multiple legal entities sharing the same ledger

The Collections Manager is identifying delinquent transactions, while submitting the Determine Delinquency lining Scoring program, in which business unit will the collections Manager be able to view the parameters list?

A. Only those business units for which there are delinquent customers

B. Only those business units for which the user has access

C. Only the business unit to which the user belongs

D. All business units in the organization

The rules applicable to issue refunds are . Select two.

A. You can NOT refund more than either the original receipt amount or the remaining unapplied amount.

B. You can refund receipts that were either remitted or cleared.

C. You can issue a credit card refund to a customer who has made a cash payment.

D. You can refund receipts that are factored.

When reversing a receipt, if an adjustment or chargeback exists, how are the off- setting adjustments created?

A. Manually using the Adjustment Reversal

B. Manually using Chargeback Reversal activities

C. Automatically using the Adjustment Reversal and Chargeback Reversal activities

D. Automatically, but WITHOUT using the Adjustment Reversal and Chargeback Reversal activities

E. Manually, but WITHOUT using Adjustment Reversal and Chargeback Reversal activities