How to Prepare for 1Z0-517 Exam on Oracle EBusiness Suite R12.1 Payables Essentials Certification?
The Oracle E-Business Suite R12.1 Payables Essentials (1Z0-517) preparation guide helps you get focused on the exam. This guide also helps you stay on the 1Z0-517 exam track to get certified with a good score in the final exam.
Exam Product Version Oracle E-Business Suite 12 and 12.1
Exam Price USD $245 (Price may vary by country or by localized currency)
Duration 120 minutes
Number of Questions 64
Passing Score 60%
Format Multiple Choice Questions (MCQ)
Recommended Training Training Opportunities for Oracle Partner Network Members Oracle E-Business Suite Essentials Implementation Boot Camp Oracle E-Business Suite R12.1 Accounts Payable Implementation Boot Camp
Schedule Exam Pearson VUE
Sample Questions Oracle E-Business Suite 12 Financial Management Certified Implementation Specialist - Oracle Payables (OCS)
1Z0-517: Oracle E-Business Suite R12.1 Payables Essentials
Recommended Practice 1Z0-517 Online Practice Exam
Exam Syllabus: 1Z0-517 Oracle E-Business Suite R12.1
Payables Essentials
E-BUSINESS ESSENTIALS
- Log in to Oracle Applications
- Navigate from Personal Home Page to Applications
- Choose a responsibility
- Create Favorites and set Preferences
Navigating in R12 Oracle Applications
- Use Forms and Menus
- Enter data using Forms
- Search for data using Forms
- Access online Help
- Run and monitor Reports and Programs
- Log out of Oracle Applications
- Explain the footprint of R12 E-Business Suite
Introduction to Oracle Applications R12
Shared Entities and Integration
Fundamentals of Flexfields
- Describe the benefits of R12 E-Business Suite
- Describe R12 E-Business Suite architecture
- Explain shared entities within R12 E-Business Suite
- Describe key integration points and business flows between products in E-Business Suite (EBS)
- Identify Key Business Flows and products involved in EBusiness Suite (EBS)
- Describe Flexfields and their components
- Identify the steps to implement a Flexfield
- Define value sets and values
- Define Key Flexfields
- Define Descriptive Flexfields
- Define Multiple Organization (Multi-Org)
- Describe the types of organizations supported in the MultiOrg model
Fundamentals of Multi-Org
- Explain the entities of Multi-Org
- Explain how Multi-Org secures data
- Identify key implementation considerations for Multi-Org
- Define Multi-Org Access Control
Fundamentals of Workflow and Alerts
Procure to Pay Overview
- Explain Multi-Org preferences
- Explain Enhanced Multiple-Organization Reporting
- Explain the concepts of subledger accounting
- Explain Workflow concepts
- Describe the benefits of Workflow
PAYABLES
- Describe the procure-to-pay process flow
- Describe the key areas in the procure-to-pay process
- Describe how the procure-to-pay process fits into the Oracle E-Business Suite of applications
- Compute transaction taxes for invoices
- Insert manual tax lines and update transaction tax lines
- View tax summary and details
Transaction Taxes in Payables
- Identify key reports related to transaction taxes
- Describe setup options in EB Tax & Payables
- Describe transaction taxes in Payables
- Describe treatment of different types of taxes (offset tax, recoverable tax, tax on prepayment, and others)
- Identify the withholding tax process
- Use withholding tax options
- Process manual withholding tax invoices
Withholding Tax
- Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment
- Process automatic withholding tax invoices
- Describe the purpose of complex service contracts
Advances and Progressive Contract Financing
- Identify advances, contract financing and progress payment invoices
- Calculate retainage
- Recoup prepaided amounts for complex service contract
- Calculate tax
- Describe the Payables process flow
- Describe the key areas in the Payables process
- Identify Payables integration points
Payables Overview
- Identify open interfaces to import data into Payables
- Set up and use Multiple Organization Access Controls (MOAC)
- Define suppliers and supplier sites
Suppliers
- Identify key reports related to suppliers and supplier sites
Payments
- Describe setup options - Purchasing
- Describe additional implementation considerations related to suppliers
- Describe setup options
- Describe setup options
- Receiving
- Others
- Describe the payment process
- Set up banks and bank accounts
- Enter single payments
- Process multiple payments
- Review and adjust payments
- Set up and create bills payable
- Create, apply, and release holds on prepayments
- Reconcile payments with Oracle Cash Management
- Use key standard reports
- Describe key setup options
- Describe additional implementation considerations related to payments
- Describe Payment Manager
- Import/Enter invoices and invoice distributions
- Match to purchase orders
- Validate invoices
- Apply and release holds
Invoices
- Describe invoice approval workflow
- Describe key reports
- Describe setup options
- Describe additional implementation considerations related to invoices
- Process various types of expense report
- Enter expense report templates
Expense Reports and Credit Cards
- Enter expense reports
- Apply advances
- Process procurement cards and credit cards
- Describe activities to be performed during the Period Close process in Payables and Purchasing
- Reconcile accounts payable transactions for the period
Period Close
- Identify key programs and reports related to Period Close
- Describe setup options related to Period Close
- Describe additional implementation considerations related to Period Close
- Explain the prerequisites for the Period Close process
- Transfer from Payables to General Ledger
Oracle 1Z0-517 Certification Sample Questions and Answers
To make you familiar with the structure of the Oracle E-Business Suite R12.1 Payables Essentials (1Z0-517) certification exam, we have prepared this sample question set. We suggest you try our Sample Questions for Oracle 1Z0-517 Certification to test your understanding of Oracle 1Z0-517 process in the real Oracle certification exam environment.
1Z0-517 Oracle E-Business Suite R12.1 Payables Essentials Sample Questions
01. All manual journal entries are defaulting to a non-current period. Which step was omitted from the accounting cycle?
a) updating the period
b) posting journal entries
c) consolidating financials
d) reversing journal entries
e) translating foreign balances
02. Select two actions available in Oracle General Ledger.
(Choose two.)
a) deleting posted journals
b) exporting data to subsidiary ledgers
c) importing data from subsidiary ledgers
d) consolidating balances in subsidiary ledgers
e) consolidating balances from multiple ledgers
03. For each subledger, there must be one _____.
a) journal type
b) account type
c) journal source
d) journal category
04. Identify three ways that an invoice can be submitted for validation.
(Choose three.)
a) online by clicking the Validate button in the Invoice Batches window
b) online by clicking the Validate and Account button in the Invoice Batches window
c) in batch by submitting the Payables Invoice Validation program from the Invoice Workbench
d) in batch by submitting the Payables Invoice Validation program from the Submit Request window
e) online by selecting either the Validate check box or the Validate Related Invoices check box in the Invoice Actions window
05. Which journal entry type does General Ledger automatically reverse and post?
a) actuals
b) budgets
c) actuals and budgets
d) budgets and encumbrance
e) actuals, budgets, and encumbrance
06. Which event reverses an accrual for an item set to accrue on receipt?
a) paying an invoice
b) delivering goods to a final destination
c) running the Receipt Accruals - Period-end process
d) matching an invoice in Payables to a purchase order
07. The manual payment method is best described as the method of ____.
a) paying multiple checks in a pay run
b) paying a single check within Payables
c) manually writing a check outside of Payables
d) recording a payment made outside of Payables
08. A table has 15 Attribute columns to capture additional information. The attributes 112 are set up in the Descriptive Flexfield as Global Segments. How many attributes can be set up under any new context?
a) 1
b) 3
c) 15
d) 12
e) 11
09. You are creating new suppliers for XYZ Corp. Identify four regions that are entered only at the supplier level.
(Choose four.)
a) surveys
b) tax details
c) organization
d) address book
e) contact directory
f) invoice management
g) products and services
10. Identify two types of inquiries that are possible on ledger sets. (Choose two.)
a) variance inquiry
b) summary template and summary account inquiries
c) a budget balance inquiry to view the budgeted figures
d) an account inquiry on ledger sets to view actual accounts balances across multiple ledgers that are assigned to a ledger set
e) an account inquiry on ledger sets to view encumbrance account balances across multiple ledgers that are assigned to a ledger set
Solution:
QUESTION: 01
Answer: a
QUESTION: 06
Answer: d
QUESTION: 02
Answer: c, e
QUESTION: 07 Answer: d
QUESTION: 03 Answer: c
QUESTION: 08 Answer: b
QUESTION: 04 Answer: a, d, e
QUESTION: 09 Answer: b, c, d, e
How to Register for 1Z0-517 Oracle E-Business Suite R12.1
Essentials Exam?
● Purchase exam voucher from Oracle University
● Register for an exam at PearsonVue.
QUESTION: 05
Answer: a
QUESTION: 10 Answer: d, e
Payables
1Z0-517: Oracle E-Business Suite R12.1 Payables Essentials 8