Oracle Financials Cloud: Receivables and Collections 2025 Implementation Professional Practice Exam 2025: Latest Questions

Your organization is implementing Oracle Receivables Cloud and needs to configure the system to automatically create accounting entries when invoices are validated. Which setup step is required to enable this functionality?

A company wants to allow customers to make partial payments on invoices, but requires that at least 25% of the invoice amount must be paid in the first payment. How should this requirement be configured in Oracle Receivables Cloud?

During the month-end close process, a Receivables accountant notices that some invoices are not appearing in the aging report. Upon investigation, they find these invoices have a status of 'Incomplete'. What is the most likely cause and solution?

A multinational corporation needs to set up Collections for multiple business units with different collection strategies. Business Unit A requires aggressive collection with dunning letters sent every 7 days, while Business Unit B prefers a softer approach with 30-day intervals. What is the correct approach to configure this in Oracle Collections Cloud?

Your company receives payments from customers through multiple channels including checks, wire transfers, and credit cards. You need to ensure that each payment type is properly recorded with the correct bank account and clearing account. What is the primary setup component for achieving this?

A customer has multiple open invoices with a total balance of $50,000. They submit a payment of $30,000 without specifying which invoices to apply it against. The company's policy is to apply payments to the oldest invoices first. How should the Receipt Application Rule be configured to automate this requirement?

Your organization wants to implement credit checking to prevent orders from being released to customers who have exceeded their credit limits. The system should check both the outstanding receivables balance and the value of unshipped orders. Which configuration is required in Oracle Receivables Cloud?

A company needs to set up separate sequences for invoice numbering based on business units. Business Unit 'East' should have invoices starting with 'E-' followed by sequential numbers, while Business Unit 'West' should start with 'W-'. What is the correct setup approach?

During a receipt reconciliation process, you discover that a customer's check for $10,000 has bounced. The receipt had already been applied to multiple invoices. What is the correct procedure to handle this Non-Sufficient Funds (NSF) situation in Oracle Receivables Cloud?

Your company is implementing Oracle Receivables Cloud with multiple ledgers for different countries. Each country has specific tax requirements and reporting needs. You need to ensure that invoice transactions are properly recorded in the correct ledger with appropriate intercompany balancing. Which architectural approach is required?

Your organization has multiple business units and wants to enable automatic cash application for customer payments. Which setup is required to ensure receipts are automatically applied to the correct invoices based on matching rules?

A collections manager needs to configure aging buckets to categorize outstanding receivables. What is the correct approach to set up aging buckets in Oracle Receivables Cloud?

During implementation, you need to configure transaction types for invoices, credit memos, and chargebacks. Which attribute of a transaction type determines whether it increases or decreases the customer's balance?

A company wants to implement lockbox processing to automatically create and apply receipts from bank files. What is the correct sequence of steps for lockbox configuration?

Your organization needs to track different revenue recognition schedules for subscription-based products. Which feature in Oracle Receivables allows you to defer revenue over multiple accounting periods?

A collections analyst reports that some customer accounts are not appearing in the collections worklist despite having overdue invoices. What is the most likely cause of this issue?

During the period close process, the accounting program fails for certain transactions. Upon investigation, you find that some transactions are missing required accounting distributions. What is the best approach to resolve this issue?

What is the purpose of the Receipt Class in Oracle Receivables Cloud?

Your company wants to implement a centralized collections strategy where a single collections team manages receivables across multiple business units. Which configuration enables cross-business unit collections management?

A company needs to configure credit checking to automatically place customer orders on hold when credit limits are exceeded. Which components must be configured to enable automatic credit checking?

Your organization is implementing Oracle Receivables and needs to configure the automatic receipt write-off functionality. The business requirement states that receipts with remaining balances less than $5 should be automatically written off during the application process. Which configuration step is required to enable this functionality?

A Collections Manager notices that certain high-value customers are being assigned to junior collectors despite having exposure exceeding $500,000. The company uses Oracle Collections with assignment rules based on customer exposure and aging buckets. What is the most likely cause of this assignment issue?

During the month-end close process for Receivables, the accounting team discovers that some transactions are showing as 'Unaccounted' in the accounting cycle. What is the first step the implementation consultant should recommend to resolve this issue?

A multinational company processes receipts in multiple currencies and needs to handle exchange rate differences when applying receipts to invoices. The customer paid an invoice of USD $10,000 with a receipt of EUR €9,200. At invoice creation, the exchange rate was 1 EUR = 1.09 USD. At receipt application time, the rate is 1 EUR = 1.08 USD. Which Oracle Receivables functionality automatically handles the exchange rate variance?

An implementation consultant needs to set up transaction types for a client who wants to track different revenue streams separately. The client has standard invoices, service invoices, and rental invoices, each requiring different accounting treatment and approval workflows. What is the primary purpose of defining multiple transaction types in Oracle Receivables?