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Are you in search for Oracle Apps Functional jobs? Then you are at the right place. There is no need
to search for jobs or Interview Questions on Oracle Accounts Payable in different sites, here in
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are various leading companies that offer job position like Oracle Apps Functional - SCM (supply Chain
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Functional Consultant - RTR and also offer many other job roles too. We’ve framed multiple job interview
questions and answers for your reference in our www.wisdomjobs.com site. Following interview
questions and answers site for quick win in job hunt.
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Answer : Journals it is used to record the business transaction it contains debit and credit
lines always debit must be equal to credit. Types of journals are Suspense Journal or
Unbalanced Journal, Recurring Journals and Reversal journals.
B. O2C processing four high-level processes i.e. Order, Invoices, Recognize the COGS and
Cash Receipt.
Sales orderàBook OderàRelease the OrderàConfirm the OrderàClose the OrderàImport
InvoiceàPrint the InvoiceàRevenue RecognitionàDefer the Cost of Goods àenter ReceiptàApply
the Receipt.
Working?
Revaluation: It is used identify the unrealized gain or loss .which is occurring on the currency
fluctuation.
Example:
On 01-Dec-2009
Answer : It is used to restrict the users from entering the segments. It will work at the
responsibility level.
It is used to restrict the end users from entering the code combinations. It will work at
structure level.
Answer :
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You can dynamically create new account code combinations when entering data by enabling
dynamic insertion in the Key Flexfield Segments window. The alternative method for this is, you
can require all accounts to be define manually in the Accounts Combinations window.
Points to Remember:
Dynamic instertion can be enabled or disabled at any time.
You can define cross validation rules to prevent incorrect account combinations from being
created by dynamic insertion.
If you are defining an Accounting Flexfield for Oracle Projects, you must define your
segment with the Allow Dynamic Inserts option set to Yes.
Standard Cash:
In case of Standard Cash, only payment accounting will be there.
Reason: While purchasing an item you pay amount immediately to the supplier. So you don’t
have any debt to the supplier to record. so there is nothing to record in LiabiltyA/C.
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Answer : Typically, the last day of the fiscal year is used as an adjusting period to perform
adjusting and closing journal entries. Once you begin using your accounting calendar, you cannot
change its structure to remove or add an adjusting period. Choosing whether to include an
adjusting period or not in your calendar is a very important decision. You can have an unlimited
number of adjusting periods.
Answer : Making payments to the suppliers in 3 ways. what ever you have ordered for the
PO we will make the payment for the suppliers in 2-way(we will compare two documents PO and
Invoice).
eg:Suppose we Had given PO for 100 items ,for that we will receive invoice for 100 items. so
that we will make payment for that 100 items. 2) In 3-Way we will compare 3 documents
PO+reciept+Invoice Eg:Suppose we have ordered 100 items in PO. But we had received only
80 items ,But we had received invoice for 100 items. so, we will make payment for only 80 items
3) IN 4-Way we will compare 4 documents PO+Receipt+Invoice+Inspection Eg:Suppose we
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have 100 items in PO. Suppers send us 80 items We will do inspection on those items what ever
we have received, If 10 items got damaged. finally, we are going to make payment to the 70
items only.
Answer : Payables uses payment terms to automatically calculate due dates, discount dates,
and discount amounts for each invoice you enter. Payment terms will default from the supplier
site. If you need to change the payment terms and the terms you want to use are not on the list
of values, you can define additional terms in the Payment Terms window.
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Answer : This particular program is run in order to transfer un-accounted invioce to next
opened period during period end closing of Accounts Payable. In fact you can’t close Payable
Period if you have Un-Accounted Invoice in Payables. In order to negotiate (Transfer) these
invoice to next open period this program is run. So that the Payable period can be closed.
Answer : Standard Purchase Order: It’s a legal document to buy the goods or services by
supplier it will be created when we know the goods or services, price, quotation, delivery
schedule and accounting distribution and also is one time purchase order
Blanket PO: Blanket PO is created when you know the detail of the goods or services you plan
to buy from a specific supplier in a period, but you do not know the detail of your delivery
schedules.
Planned PO: Planned PO is a long–term agreement committing to buy items or services from a
single source. You must specify tentative delivery schedules and all details for goods or services
that you want to buy, including charge account, quantities, and estimated cost.
Contract PO: Contract PO is created when you agree with your suppliers on specific terms and
conditions without indicating the goods and services that you will be purchasing.
Answer :
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Approval hierarchies let you automatically route documents for approval. There are two
kinds of approval hierarchies in Purchasing: position hierarchy and employee/supervisor
relationships.
If an employee/supervisor relationship is used, the approval routing structures are defined
as you enter employees using the Enter Person window. In this case, positions are not
required to be setup.
If you choose to use position hierarchies, you must set up positions. Even though the
position hierarchies require more initial effort to set up, they are easy to maintain and
allow you to define approval routing structures that remain stable regardless of how
frequently individual employees leave your organization or relocate within it.
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Answer : Standard Invoices: Standard Invoice are invoices from a supplier representing
an amount due for goods or services purchased. Standard invoices can be either matched to a
purchase order or not matched. Standard invoices must be positive amounts.
Mixed Invoices: Mixed Invoices can be matched to both purchase orders and invoices. Mixed
invoices can have either positive or negative amounts.
Answer : AP Invoice: it is nothing but what amount going out towards receiving Raw
material from the vendor or supplier. (Expenses)
AR Invoice: it is nothing but what amount coming in buy selling the product to customer or
parties (Revenues)
Question19. What Is Key Flex Filed How Many Types In Gl, Ap, Ar, & Fa?
Relational Database Concepts
Answer : Key Flex field: is used to capture mandatory information of the organizations
The Relational Model
In GL 3 types 1. Accounting flex field (mandatory) 2. Reporting attribute (optional) 3. Gl ledger
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flex field (optional)
university/oracle-dba-tutorial-238/the-
IN AP No flex fields
relational-model-7507.html)
IN AR Two types 1. Sales Tax Location flexfield (mandatory) 2. Territory Flexfield 25
Object-relational
In FA Three Flex Database System (mandatory), Asset key (mandatory), Locations flex field.
field i.e. Category
Male
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Question20. What Is Debit Memo And Credit Memo In Ap?
university/oracle-dba-tutorial-
238/object-relational-database-system-
Answer : Its negative amount identified by Customer and sent to Supplier. No
7508.html)
Ex: Purchase Returns.
Its negative
Terms amount identified by Supplier and sent to the Customer.
To Know
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Rs. 547
Ex: TDS Payables.
university/oracle-dba-tutorial-
Question21. What Is Debit Memo And Credit Memo In Ar?
238/terms-to-know-7509.html)
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