Question 1

Which two items are required for customer invoicing? (Choose two.)

Options :

A : Lockbox

B : Customers

C : Remit-to-address

D : Customer Profile Class

Answer: A,D

Question 2

You entered an invoice of $12500 in the receivable and created a receipt with the amount $15000 received from the customer.How will the system react if over application is enabled in transaction type while receipt is applied to the invoice?

Options :

A : Invoice balance is displayed as 0.

B : Invoice balance is displayed as 2500.

C : Invoice balance is displayed as 0 and Miscellaneous receipt is created with 2500.

D : Invoice balance is played as 0 and On account receipt is created with 2500.

Answer: B

Question 3

A Billing Specialist has created and completed an invoice for $100 USD for Customer The Specialist prints the invoice and realizes that the invoice should have been created for Customer B. The accounting for the transaction for Customer A is posted to the General Ledger.How can this be corrected?

Options :

A : Create an adjustment for the entire amount and create a negative adjustment for Customer B.

B : Create an on-account credit memo for $100 USD for the invoice and enter a new invoice for Customer B.

C : Change the status of the invoice to Incomplete and enter a new invoice for Customer B.

D : Navigate to the credit transaction link in the Billing work area, credit the entire amount, and enter a new invoice for Customer B.

Answer: B

Question 4

The method that is used to capture receipts data in mass while you are offline and upload the receipts at a later date is called ______________.

Options :

A : automatic receipts creation

B : receipts creation in a spreadsheet

C : manual receipt entry

D : Lockbox receipts creation

Answer: B

Question 5

Which setup is required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices?

Options :

A : Intercompany invoicing must be enabled in Payables Invoice Options.

B : Same tax rate code must be populated in Intercompany System Options for both Payables and Receivables invoices.

C : Intercompany invoicing must be enabled in Receivables System Options.

D : Receiver and provider business units and legal entities must be subscribed to the applicable tax regime on the transaction date.

Answer: D

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