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Oracle 1z0-506 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Customer Management	20%	- Customer Accounts 1. Manage customer sites and contacts 2. Create and maintain customer accounts 3. Define profile classes - Credit Management 1. Set up credit limits 2. Configure credit checking rules
Topic 2: Collections and Period Close	13%	- Period Close 1. Reconcile to general ledger 2. Complete receivables period close 3. Generate reports and inquiries - Collections Management 1. Manage dunning and correspondence 2. Process disputes and follow-ups 3. Use collections dashboard
Topic 3: Receipt Processing and Application	20%	- Receipt Application 1. Manage unapplied and on-account receipts 2. Process chargebacks and adjustments 3. Apply receipts to open items - Receipt Creation 1. Import receipts via lockbox 2. Enter manual receipts 3. Process automatic receipts
Topic 4: Receivables Setups	22%	- System Options 1. Configure accounting options 2. Define receivables system options 3. Set up autoaccounting - Transactions Setup 1. Set up memo lines 2. Define transaction types 3. Configure transaction sources - Receipts Setup 1. Configure autoCash rule sets 2. Define receipt classes and methods 3. Set up remittance bank accounts
Topic 5: Transaction Processing	25%	- Invoicing 1. Correct and adjust transactions 2. Create and update invoices 3. Manage credit and debit memos - Revenue Management 1. Review revenue accounting 2. Manage contingencies 3. Define revenue recognition policies

Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

1. The Billing Specialist has entered an invoice in a foreign currency. After completing the invoice she realized that she has to adjust the conversion rate on the transaction. The invoice is already paid and has a receipt applied to it. Which is the setup that is NOT relevant to the Billing Specialist?

A) Reverse the transaction.
B) Adjust the conversion rate.
C) Recreate the transaction at a new rate.
D) Incomplete the transaction.

2. Select two values that are set up in Correspondence Configuration.

A) Exclude from dunning
B) Dunning configuration set
C) Dunning letter options
D) Rerun the dunning process

3. What two items are required for customer invoicing?

A) Remit-to address
B) Customer Profile Classes
C) Customers
D) Lockbox

4. What is the action you perform on a transaction once you drill down to the edit transaction window from the Billing Work Area page?

A) Incomplete Transaction
B) Reverse the Transaction
C) Complete and Review
D) Create a New Transaction

5. The client has implemented automatic revenue recognition using Revenue Polity Definitions. The payment term threshold of 150 days has been entered in the revenue policy. An invoice of $5,000 is imported with payment term that has four equal installment terms.
-Net 60 -Net 90 -Not 120
-Net 180
Select the amount of revenue that would be deferred in this case.

A) $1.750
B) $1, 250
C) $2,500
D) $4, 750
E) $5,000

Solutions:

Question # 1
Answer: C

Question # 2
Answer: B,C

Question # 3
Answer: A,C

Question # 4
Answer: C

Question # 5
Answer: E