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

These are four true statements about creating assets from Payable Invoice lines by using the Create Mass Additions process. The Create Mass Additions process is a process that enables you to create assets from invoice lines in Oracle Payables and import them into Oracle Assets. To use this process, the following conditions must be met1:

• The Payable Invoice must be validated and accounted, which means that the invoice has passed the validation rules and has been assigned accounting entries.
• The Invoice Lines must be charged to an Asset Account, which is an account that is mapped to an asset category in Oracle Assets.
• The “Track as Asset” check box must be selected for the invoice distribution lines, which indicates that the invoice lines are eligible for asset creation.
• The Payable Invoice must be transferred to General Ledger, which means that the accounting entries for the invoice have been posted to the ledger and are available for reporting. References: Oracle Financials Business Process Certified Foundations Associate Rel 1

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 four true statements about an effective subledger period close. A subledger period close is a process that ensures that all transactions and adjustments in a subledger application, such as Projects, Payables, Fixed Assets, or Receivables, are accounted and transferred to General Ledger for a given period. To perform an effective subledger period close, you need to follow a recommended sequence of steps and dependencies among different subledger applications1. Some of these steps and dependencies are:

• Projects must be closed before Fixed Assets, which means that you need to ensure that all project-related transactions and adjustments are accounted and transferred to General Ledger before creating or adjusting any assets from projects in Fixed Assets.
• Payable must be closed before Projects, which means that you need to ensure that all supplier invoice and payment transactions and adjustments are accounted and transferred to General Ledger before creating or adjusting any project expenditures from Payables in Projects.
• Fixed Assets must be closed before Payables, which means that you need to ensure that all asset addition, depreciation, adjustment, and retirement transactions and adjustments are accounted and transferred to General Ledger before creating or adjusting any supplier invoices from assets in Payables.
• Fixed Assets must be closed before Receivables, which means that you need to ensure that all asset-related transactions and adjustments are accounted and transferred to General Ledger before creating or adjusting any customer invoices from assets in Receivables. References: Oracle Financials Business Process Certified Foundations Associate Rel 1