Explanation
These are the two variance amounts that you should expect to investigate in the Receivables to General Ledger Reconciliation report. Accounting variance is the difference between the subledger journal entries and the general ledger journal entries. Receivables variance is the difference between the subledger balances and the general ledger balances. Verified References: [How You Reconcile Receivables to General Ledger - Oracle]

Explanation
These are the three receipt types that can be reversed in the Cloud. Receipts applied to open receipts and receipts that are archived cannot be reversed. Verified References: [How You Reverse Receipts - Oracle]
Topic 1, Performance Based Questions
"Member Insights"

"Transaction Analysis"

Confirm the Oracle Applications Cloud Version


Note: The Oracle Applications Cloud environment might take some time to launch.
1. Click on the Settings and Actions menu under your profile in the Oracle Applications Cloud window.

2. Click on About This Application in the Settings and Actions menu.

3. Copy the complete version number from the About this Application
pop-up in the Oracle Application Cloud window.
4. Paste the version number in the box below.


5. Click Confirm.

Explanation
This is the receipt rule that should be defined to produce the minimum number of payments when defining the receipt method for automatic receipt processing. This rule creates one payment per customer regardless of how many invoices or due dates exist for that customer. Verified References: [How You Define Receipt Methods - Oracle]

See the explanation below for solution.
Explanation
* Log in to Oracle Financials Cloud.
* Click on the Receipt Classes icon in the Receivables work area.
* Click on the Create button.
* In the Receipt Class window, enter the following information:
* Name: XXReceipt Class (Replace XX with your allocated user ID.)
* Creation Method: Manual
* Remittance Method: No Remittance
* Bank Account: The bank account that will be used to clear receipts for this receipt class.
* Click on the Save button.
The new manual receipt class will be created.
To make sure that receipts using this receipt class will not be remitted:
* Click on the Remittance Methods tab.
* Select the check box next to No Remittance.
* Click on the Save button.
The receipts using this receipt class will now not be remitted.

Explanation
When you consider that recognition depends on the nature of the contingency, these two statements are true:
* Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized. For example, if a customer pays a deposit or an advance payment, the contingency is removed and revenue is recognized at that point.
* Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized. For example, if a customer has 30 days to accept or reject a product after receiving an invoice, the contingency is removedafter 30 days or when the customer accepts the product, whichever comes first. The other statements are not true because:
* Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, and its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before invoicing, not before revenue recognition.
* Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet. For example, if a customer has a one-year warranty period, the contingency is removed after one year, but revenue is recognized when payment is due or received, whichever comes later.
* Time-based contingencies must expire before the contingency can be removed and revenue recognized, not must not expire. Verified References:
https://docs.oracle.com/en/cloud/saas/financials/23b/faofc/manage-revenue-for-receivables.html#FAOFC-