Oracle 1z0-1107-2 Exam With Confidence Using Practice Dumps

This is the recommended order of steps that needs to be followed to complete your configuration of the Balance Forward Billing feature. Balance Forward Billing is a feature that enables you to consolidate multiple invoices into a single bill and send it to your customers at regular intervals, such as monthly or quarterly. To configure Balance Forward Billing, you need to perform the following steps1:

• Define BFB Billing Cycle: This step involves creating a billing cycle name, description, and frequency for generating balance forward bills.
• Define BFB Payment Terms: This step involves creating payment terms that specify the due date and discount date for balance forward bills.
• Enable BFB in the Customer Profile: This step involves enabling the Balance Forward Billing option in the customer profile class or customer account level.
• Attach BFB Payment Terms to Customer: This step involves assigning the balance forward payment terms to the customer account or site level. References: Oracle Financials Business Process Certified Foundations Associate Rel 1

These are three components that will be useful for the automatic reconciliation of bank statements with system transactions. Automatic reconciliation is a feature that enables you to reconcile bank statement lines with system transactions without manual intervention. You can use various components to define the criteria and conditions for automatic reconciliation1. Some of these components are:

• Transaction Grouping Rules: These are rules that determine how system transactions are grouped together for reconciliation purposes. You can group transactions by attributes, such as bank account, currency, transaction type, or payment method.
• Tolerance Rules: These are rules that define the acceptable differences between bank statement lines and system transactions for reconciliation purposes. You can define tolerances by amount or percentage, and by bank account or currency.
• Matching Rules: These are rules that specify how bank statement lines and system transactions are matched for reconciliation purposes. You can match transactions by attributes, such as transaction number, amount, date, or reference number. References: Oracle Financials Business Process Certified Foundations Associate Rel 1

These are three attributes that can be captured on an Invoice Header while recording a supplier invoice in the Payables application. An Invoice Header is a section of an invoice that contains general information about the invoice, such as supplier details, invoice amount, invoice number, invoice date, payment terms, or description1. Some examples of these attributes are:

• Supplier Details: These are the details of the supplier who issued the invoice, such as supplier name, site, contact person, address, or tax registration number.
• Invoice Amount: This is the total amount of the invoice that is payable to the supplier, including taxes and charges.
• Invoice Number: This is the unique identifier of the invoice that is assigned by the supplier or by the system. References: Oracle Financials Business Process Certified Foundations Associate Rel 1