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Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions (Q49-Q54):

NEW QUESTION # 49
MANAGE POLICIES BY EXPENSE CATEGORY
The US1 Business Unit has an expense policy on meals that allows an employee to claim 30 USD per day for an evening meal, regardless of their role and location.

Answer:

Explanation:
See the Explanation for Step-by-Step Solution.
Explanation:
Step-by-Step Solution: Configuring Expense Policies by Expense Category in Oracle Financials Cloud To implement the expense policy for meals in Oracle Financials Cloud, follow these steps:
Step 1: Navigate to the Expense Policies Setup
* Log in to Oracle Financials Cloud with the appropriate Expense Manager or Financial Administrator role.
* Go to the Setup and Maintenance work area.
* Select Manage Policies by Expense Category (Task Name: Manage Expense Policies by Expense Category).
* Select the US1 Business Unit to ensure the policy applies to the correct entity.
Step 2: Create or Update the Meal Expense Category
* Under Manage Policies by Expense Category, locate or create the Meals Expense Category.
* If the Meals category does not exist:
* Click Create Expense Category.
* Enter Category Name: "Meals".
* Category Type: "Meals and Entertainment".
* Save the entry.
Step 3: Define Expense Limits for Evening Meals
* Select the Meals Expense Category and click Edit.
* Navigate to the Policies and Limits tab.
* Under Amount Limits, click Add New Rule.
* Description: "Evening Meal Limit".
* Limit Type: "Maximum Allowed Amount".
* Limit Amount: Enter 30 USD.
* Per: Select Day.
* Apply to All Employees (since this applies regardless of role and location).
* Location-Based Rules: Leave blank since it applies universally.
* Click Save and Close.
Step 4: Enable and Activate the Policy
* Ensure the policy is enabled by selecting the checkbox for Active.
* Click Submit to finalize the configuration.
* Run the "Validate and Deploy Expense Policies" process to apply changes.
Step 5: Testing the Policy
* Simulate an Expense Report Submission:
* Have an employee create a new expense report.
* Select Meals as the expense category.
* Enter an evening meal expense of 35 USD (which exceeds the policy limit).
* Verify if a policy violation warning appears, restricting the claim to 30 USD.
* Submit an expense of 30 USD and ensure no policy violation occurs.
Expected Outcome:
* Employees can claim up to 30 USD per day for an evening meal.
* Any claim above 30 USD triggers a policy violation warning.
* The rule applies to all employees regardless of role and location.
Conclusion
By following the above steps, you successfully configure an expense policy for meals that limits evening meal claims to 30 USD per day. This ensures compliance with the company's expense management guidelines while streamlining the expense approval process in Oracle Financials Cloud.

NEW QUESTION # 50
You have created an approval rule as follows:
Rule 1: If the invoice amount > $1000, route it to User 1.
Rule 2: If the invoice amount < $1000, auto-approve it.
What will happen if a user creates an invoice for $1000 and routes it for approval?

A. The initiate option is greyed out for the invoice.
B. Invoice will be sent to User 1 for approval.
C. Invoice will be auto-approved.
D. The workflow will fail once approval is initiated, and the invoice will not get processed.

Answer: D

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Payables, when configuring invoice approval rules, it's crucial to ensure that all possible scenarios are accounted for to prevent workflow errors. In the given setup:
Rule 1: Invoices with an amount greater than $1000 are routed to User 1 for approval.
Rule 2: Invoices with an amount less than $1000 are auto-approved.
However, there is no rule defined for invoices equal to $1000. This omission creates a gap in the approval process. When an invoice for exactly $1000 is submitted, the system doesn't find a matching rule to apply, leading to a workflow failure. As a result, the approval process cannot proceed, and the invoice remains unprocessed.
Best Practice: To avoid such issues, it's essential to define comprehensive and inclusive approval rules that cover all possible scenarios. In this case, modifying the rules to include invoices equal to $1000 would resolve the problem. For example:
Revised Rule 1: If the invoice amount ≥ $1000, route it to User 1.
Revised Rule 2: If the invoice amount < $1000, auto-approve it.
This adjustment ensures that invoices with an amount of exactly $1000 are routed appropriately, preventing workflow failures.
Reference:
How You Create Invoice Approval Rules Using a Spreadsheet
Predefined Invoice Approval Rules: Explained

NEW QUESTION # 51
You have assisted your customer with the implementation of Oracle Intelligent document Recognition (IDR).
They want to track the accuracy of the invoice line recognition for invoices processed by IDR. You introduce them to the invoice documents recognition rate report to obtain the invoice line recognition details.
In which three formats is this report available?

A. Invoice Header Details
B. Invoice Line Summary
C. Invoice Line Details
D. Invoice Header summary
E. Invoice Summary Details
F. Invoice Header supplier summary

Answer: A,B,F

NEW QUESTION # 52
Your organization has decided to create employee expense items by leveraging the digital assistant feature and sending expense receipts via email.
Which is the next processing step after an email with an expense receipt is received in the expenses application?

A. The application assigns an expense type based on category
B. The application verifies the sender's email address and compares it with the employee's email addressed in HCM
C. The application sends the expenses team receipt notification
D. The Application automatically matched receipts to corporate card charges
E. The application extracts the receipt details and creates expense items

Answer: B

NEW QUESTION # 53
You have been asked by the cloud customer to create some user-defined account derivation rules for Payables invoices that were imported from lease accounting.
Which two lease accounting source attributes are predefined and can be used in rule creation?

A. ROU Flag value
B. Lease preparer
C. Lease location
D. DFF values on the Asset tab
E. DFF values on the Schedule tab

Answer: A,D

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Lease Accounting, integration with Oracle Payables allows for the seamless import of lease-related invoices. To ensure accurate financial reporting, it's essential to configure account derivation rules that map specific lease attributes to the appropriate general ledger accounts. Oracle provides a set of predefined source attributes that can be utilized in creating these rules.
Key Predefined Lease Accounting Source Attributes:
DFF Values on the Asset Tab (Option A):
Lease Preparer (Option C):
Reference:
ROU Flag Value (Option D):
Other Options Analysis:
DFF Values on the Schedule Tab (Option B):

NEW QUESTION # 54
......

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