Online Access Free 1z1-506 Exam Questions

ABC, Inc. has business units A and B.
ABC, Inc. acquires XYZ Corporation and adds business unit C.
The Receivable Manager can see only transactions for business units A and B, but NOT C.
Why is business unit C NOT visible to the Receivables Manager?

• A.Business units A and B represent different legal entities as compared to business unit C.
• B.Business units A and C belong to different subledgers than business unit C.
• C.The Receivable Manager is NOT assigned with a data role relevant to business unit C.
• D.Business units A and B belong lo different ledgers than business unit

A customer calls into the Accounts Receivables Department asking for the balance of all invoices due in the next 30 days and has a question about a specific invoice line. As a Billing Specialist what action will you perform?

• A.Apply, reverse, or process the receipt.
• B.Review the invoice in the Review Customer Account Details user interface.
• C.Create an open debit memo.
• D.Review receipt-, in pending status

What are the three valid statements related to third-party control accounts that have the type Customer?

• A.The subledger journal entry lines that use this account MUST have customer information.
• B.The customer subledger third party balances will be updated when Journal is completed to Draft Status.
• C.The customer sub ledger third-party balances will be updated when Journal is completed to Final Status.
• D.The subledger Journal entry lines that use this account need not have customer information
• E.When the third party control account is assigned to a journal line, information such as name and site MUST be provided.

The common subledger period close management UI allows the user to__________.

• A.Transfer unbalanced entries to the general ledger.
• B.Manage the accounting period status.
• C.Bill and automate customer payments for adjustment approval processing
• D.Balance the entries after they are transferred to the general ledger .
• E.Access all subledgers.

Which option must be set up in order to adjust an invoice and enter an amount greater than the balance due?

• A.Set the Allow Overapplication on transaction type to Yes.
• B.Set the Allow Overapplication on receivables activity to Yes.
• C.Set the Allow Overapplication on the profile options to Yes.
• D.You can NOT enter on amount, greater than the balance due.