Interview Questions.

Question 1. What Are The Modules That Are Interfaced With Oracle Payables?

Answer :

General Ledger, Purchasing,AOL,Cash Management,Assets.

Question 2. How Does The Information Defaults In Payables?

Answer :

Financial Option > Payables > Supplier > Supplier Site > Invoice > Distribution and  Schedule of Payment.

Accounts Interview Questions
Question three. What Is A Distribution Set? What Are The Types Of Distribution Set?

Answer :

Distribution Set is to robotically distribute Invoice amount in to one of a kind GL Account code Combination.

Type of Distribution Set
Full Distribution and Skeleton Distribution Set
Full Distribution manner we recognise the exact percentage and genuine account code mixture. The sum of the distribution percentages should identical a hundred or 0.
Whereas in Skeleton we do not the percentage but we know the GL Account Code Combination. So percent must no longer be entered here.
Question 4. What Are The Types Of Invoices Used In Payables?

Answer :

Standard, Credit Memo, Debit Memo, Mixed, Prepayment, Expense Report, Withholding Tax, PO Default, Quick Match. Retainage Invoice

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Question five. What Are The Encumbrance Options For Ap? How Are They Used?

Answer :

Requisition Encumbrance, and  PO Encumbrance to be had in Financial Option.
Encumbrance used to reserve the Funds on the time of raising the Requisition or creating of PO.
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Question 6. What Are The Different Types Of Supplier Sites?

Answer :

Pay, Primary Pay, RFQ, Purchasing, Procurement Card.

Question 7. What Are The Types Of Accounting Methods?

Answer :

Accrual, Cash

Oracle HRMS Interview Questions
Question eight. What Is Automatic Offset Methods ?

Answer :

Payables routinely create balancing accounting entries on your invoice and payment transactions.

Three sorts of Offset Methods:

None
Balancing
Account.
Question 9. What Is A Pay Group?

Answer :

Pay Group is to group invoices into supplier class for payments.

Oracle Memory Management Interview Questions
Question 10. How Do You Create Interest Invoice?

Answer :

In Payable Option beneath Interest Tab Allow Interest Invoices. Enable this option if you want to permit Payables to calculate hobby for past due invoices and create interest invoices for decided on providers. Payables  mechanically creates interest invoices when you pay overdue invoices in a payment batch or with a Quick price. If you pay an late invoice the usage of a guide price, Payables warns you that hobby is due at the invoice and you have to pay the bill in a price batch or with a Quick payment.

Question eleven. What Is Gl Date Basis & Prepayment Settlement Date?

Answer :

The date you want Payables to apply because the default accounting date for invoices at some point of bill access

Invoice Date. Invoice date you enter at some stage in invoice entry.
System Date. Current date for your Payables device. The date you input the bill.     
Goods Received/Invoice Date. Date that you input within the Date Goods Received subject. If no fee is entered, then the bill date is used.
Goods Received/System Date. Date that you enter in the Date Goods Received area. If no price is entered, then the device date is used.
Prepayment Settlement Days. Number of days you need Payables to feature to the machine date to calculate a default settlement date for a prepayment. Payables  prevents you from making use of the prepayment to an invoice till on or after the agreement date.

Oracle IDM Interview Questions
Question 12. What Are The Levels Of Tax Calculation?

Answer :

Level at which the tax must be calculated.

Levels: line degree, header stage and tax code degree

Accounts Interview Questions
Question thirteen. What Is Additional Pay Through Days?

Answer :

Days specified in this column is added to the machine date to choose the bill for fee which has the maturity date falling within nowadays

Question 14. What Are Term Date Basis & Pay Date Basis?

Answer :

Term date foundation:

Date from which the due date may be calculated primarily based on the charge time period.

Pay date basis:

Selection standards of invoices based at the due date or  scheduled cut price date.

Question 15. What Are The Types Of Payment Terms?

Answer :

Imme,30days, constant due date, instalments ,proxima.

Oracle Order Management Interview Questions
Question sixteen. What Are Holds In Payables? How Are They Defined ?

Answer :

Restriction at the bill for  further processing.

Types: Manual and device holds. User can outline any kinds of holds and can be connected to the invoice to forestall similarly processing.

Question 17. How Do You Create A Foreign Currency Invoice And A Foreign Currency Payment ?

Answer :

Any bill that has been made out of apart from the functional currency.

Steps:

Payables choice ,in currency tab permit use a couple of currencies.
Making foreign foreign money payment
In the fee layout allow more than one currency alternative and in financial institution permit a couple of forex bills below payable option tab.
Oracle Retail Sales Audit Interview Questions
Question 18. What Are Expenses Report And Expense Report Template?

Answer :

Invoice created for the fee made with the aid of the employee. Expense record template Defining default values for price objects, and you could then pick out those objects from a list of values while you enter cost reviews.

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Question 19. What Are Recurring Invoices?

Answer :

A function that lets you create invoices for an rate that occurs often and isn't typically invoiced. Monthly rents and lease bills are examples of habitual bills.

Question 20. What Are The Perquisites For Entering A Standard Invoice?

Answer :

supplier, provider site, price term, payment method, distribution set(non-compulsory).

Oracle Inventory Interview Questions
Question 21. What Are Tax Recovery Rules?

Answer :

Rules described for the  quantity of taxes that must be recovered which  is mostly a characteristic of the character (or intended use) of the taxable item.

Question 22. What Are Payment Formats And Payables Documents?

Answer :

Format in which the stationary needs to be construct i.E., in which the attributes or the contents has to be positioned.
Payment file
It is the actual negotiable or the felony file supplied to the supplier.
Question 23. What Are The Types Of Payment Methods?

Answer :

Check, electronic, wire, clearing, destiny dated(Bill of alternate). Two locations where you assign the technique one is financials choice at provider payables tab and he override alternative at provider web site level, payable tab.

Question 24. What Are The Different Types Of Payment Methods?

Answer :

Manual, quick and refund.

Oracle HRMS Interview Questions
Question 25. What Are The Different Types Of Taxes Used In Payables?

Answer :

Sales, use tax, offset, consumer-defined, withholding tax.

Question 26. What Is Future Dated Payment Method?

Answer :

Payment of invoice where the due date(adulthood date) falls in the destiny.Ex- bill of change.

Steps: Enable destiny date use within the future dated bills tab on the payables record.

Question 27. How Do You Control Accounting Periods In Payables?

Answer :

setup--accounting--ap accounting durations

There is option of toggling between diverse repute.

Never opened, Future ,Open, Closed ,Permanently closed.

Oracle Memory Management Interview Questions
Question 28. What Are The Payment Programs?

Answer :

he following are the Payment Programs that's used in the price batches.

Build Payment Programs
Format Payment Programs
Separate Remittance Programs.
Build Payment Programs:

It companies the Invoices of the suppliers within the manner in which payment have to be made.

Format Payment Programs:

This software is used to know the layout of the charge documents and for this reason format the payments.

Separate Remittance Programs:

If the Payment Documents does now not carries the Remittance recommendation, then we need to run the Separate Remittance Programs different this can run in conjunction with Payment Documents.

Question 29. What Is Difference Between Entering Invoices In Invoice Gateway And Invoice Work Bench Window?

Answer :

Invoice Workbench used for coming into and maintaining greater complex invoices for that you require good sized on-line validation and online defaulting where as Invoice Gateway used to your normal entry of bill facts. Use this window for fast, high–extent access of Standard and Credit Memo invoices that aren't complicated and do no longer require extensive on-line validation or defaulting of values all through entry.

When you use the Invoice Gateway, you enter invoice header and line records inside the same window, and may view handiest one record at a time. In the Invoice Workbench, you enter bill header information inside the Invoices window, and the related invoice distributions inside the Distributions window. You can view a couple of invoices at the same time within the Invoices window.

In the Invoice Workbench we can enter and follow prepayments. In the Invoice Gateway we cannot enter prepayments, however we  can practice present prepayments to invoices you enter.

Question 30. What Are The Tables Involved In Ap Invoice Interface?

Answer :

AP_INVOICES_INTERFACE
AP_INVOICE_LINES_INTERFACE
Question 31. What Is Proration Of Invoice Lines?

Answer :

When you test the Prorate inside the Invoice Lines it's going to prorate charges and Tax consistent with the Proportion of Line amount in the Invoice

Question 32. What Are The Offset Taxes? Where It Is Used?

Answer :

Offset Taxes:

Offset tax codes are used to document self–assessed taxes on invoices, at the same time as reducing or completely offsetting tax liability. Offset taxes have negative–amount fees, so whilst you operate them, you input negative–amount bill tax distributions.

It utilized in European Union,  if you are a member of the European Union (EU), you could record on these 0–rated taxes the usage of the Intra–EU VAT Audit Trail record.

Question 33. What Are The Types Of Holds That Are Used To Prevent The Payment Of Invoice?

Answer :

Holds that we can apply manually or that Payables applies, prevent price and, in some cases, advent of accounting entries for an bill. We can cast off holds that we observe, and we are able to manually launch certain holds that Payables applies at some stage in Approval.

Payables offers some customary bill holds for our use, and we will outline our very own, primarily based on our bill approval wishes. We also can save you price of supplier invoices by using placing a maintain at the provider instead of on each man or woman invoice.

There are two foremost class of preserve

Manual Hold
System Hold.
Manual preserve we can create and launch manually wherein as gadget preserve is created with the aid of system and typically released via system after due rectification.

There are 3 styles of holds we are able to use to prevent charge of an invoice

Invoice Hold:We can manually practice one or greater Invoice Hold Reason Approvals (”holds”) to an invoice the usage of the Invoice Holds window of the Invoice Workbench.

Scheduled Payment Hold: We can maintain payment on part of an invoice by way of placing one or extra of the scheduled bills on maintain inside the Scheduled Payments window of the Invoice Workbench.

Supplier Hold: In the Supplier Sites window, we can permit the Hold All Payments, Hold Unapproved Invoices, or Hold Unmatched Invoices options. We also have the choice of specifying an Invoice Amount Limit for a dealer site.

Oracle IDM Interview Questions
Question 34. What Are The Hold Option At The Supplier Site?

Answer :

In the Supplier Sites window, we are able to permit the Hold All Payments, Hold Unapproved Invoices, or Hold Unmatched Invoices alternatives. We additionally have the choice of specifying an Invoice Amount Limit for a supplier site.

Question 35. What Are The Ways In Which Invoice Can Be Approved?

Answer :

Before you may pay or create accounting entries for an invoice, together with prepbayments,

you have to publish Approval for the invoice in one in all three methods:

Online by using the use of the Invoice Actions window.
Online by using the usage of the Approve button within the Invoice Batches
Batch by way of filing the Payables Approval application from the Submit Request window.
Question 36. What Are The Methods Of Taking Discounts In Payables?

Answer :

There are two ways to take reductions with Payables:

Enable the Always Take Discount Supplier choice. Payables  takes a reduction regardless of while you pay the bill.
Select Discount for the Pay Date Basis for the dealer, and disable the Pay Only When Due test field to your price batch. Payables takes a discount and can pay the invoice in the bargain period.
Oracle Order Management Interview Questions
Question 37. What Are The Matching Approval Levels?

Answer :

Match Approval Level: If we use Oracle Payables with Oracle Purchasing or any other included purchasing product, we can carry out on line matching of invoices and authentic purchase orders or buy order receipts. Matching ensures that we only pay for the goods and services we ordered and that our providers do no longer over–billed us. If we are billed for an object over the quantity and quantity tolerances we define, the Payables Approval Program applies holds to the bill and stops price till we launch the holds.

Question 38. What Are The Payable Open Interface Table?

Answer :

The Payables Open Interface tables shop invoice records. The Payables Open Interface Import software builds Payables invoices based on the invoice statistics in the Payables Open Interface tables.

After the import software builds the invoices, they can be regarded, modified, and accredited in the Invoice Workbench.

The invoice records is from e–Commerce invoices out of your suppliers, invoice facts which you entered inside the Invoice Gateway window, invoices that you loaded with Oracle SQL*Loader, hire invoices that have been transferred from Property Manager, and credit card transaction data.

Question 39. What Are The Invoice Matching Option?

Answer :

The following are the Invoice Matching Option  available :

Purchase Order Matching:

2–Way. When you match to a buy order or receipt, Payables Approval plays those manage checks:

Quantity billed <= Quantity ordered (Symbol imply lessor)

Invoice rate <= Purchase order fee

Receipts Matching:

3–Way. Control assessments 1 and a pair of, plus:

Quantity billed <= Quantity received

Invoice Matching:

four–Way. Control assessments 1, 2, and three, plus:

Quantity billed <= Quantity usual

Question 40. What Are The Purchase Order Matching Database Table?

Answer :

Payables makes use of numerous of Oracle Purchasing tables for matching. To put in force matching in Payables, you want to load those tables with the data out of your non–Oracle purchasing utility.

The following are the listing of such tables :

PO_HEADERS
PO_LINES
PO_LINE_LOCATIONS
PO_DISTRIBUTIONS
PO_DISTRIBUTIONS_AP_V (view of PO_DISTRIBUTIONS)
PO_RELEASES (Blanket Purchase Orders)
PO_LOOKUP_CODES
AutoInstall routinely installs those and other vital Oracle Purchasing utility tables whilst you installation Payables.

Oracle Retail Sales Audit Interview Questions
Question 41. What Are The Pre-requisites For Entering Payments?

Answer :

The following are the pre-specifications:

The invoice(s) we paid have to be accredited, uncancelled, tested, without holds, and need to have the identical currency as the payment.
The bank account should have at least one charge report that makes use of the Recorded or Combined disbursement type.
Question 42. How Should I Define Surcharge For A Tds Tax?

Answer :

You want to enter (inside the Surcharge field at the Tax Definition) precise percent that needs to be implemented at the Invoice amount.

For instance: In a case where TDS Tax Rate is two% and a Surcharge of 10% is relevant for this Tax. You must specify zero.2 inside the Surcharge discipline.

Oracle Inventory Interview Questions
Question forty three. What Should Be The Setup Steps When I Wish To Implement Tds Features Only?

Answer :

Setup simplest Step 16-21 of the India Localization Setups. Refer to the Setup Overview chapter of the India Localization User Guide.

Following India Localization Setups want to be completed:

Define TDS Related Information for the Organization
Define Income Tax Authority
Define TDS Sections
Define TDS Tax Codes
Defining TDS year Information
Define TDS Details for Suppliers
Question forty four. What Is The Impact Of Assigning A Default Tds Tax Name To The Supplier Site?

Answer :

This could automate TDS Calculation for every Invoice created for the Supplier Site.
This occurs notwithstanding the truth which you override/ delete the TDS Tax Id before saving the Invoice Distribution.
Question forty five. How Many Tds Invoices Are Created When Multiple Invoice Distributions Have The Same Tds Tax Id?

Answer :

Invoice created for the TDS Authority and the Credit Memo for the Supplier could be consolidated for all Invoice distributions having the same TDS Tax Id.

Question 46. What Will Be A Pre-considered necessary To Assign Wct Type Of Taxes On Invoice?

Answer :

It is important to assign a TDS Tax Id before you specify a WCT Tax Id. However, in case you best have WCT relevant to the Invoice, then, assign this code within the TDS Tax Id field.
For Supplier who does no longer have TDS Applicability but only have WCT calculated for services supplied with the aid of them, then, assign the WCT Tax Id within the default TDS Tax Name field.
Question 47. What Will Be Impact On Tds Invoices When Prepayment Invoice With Single Tds Code, Applied To Standard Invoice Has Different Tds Codes Attached?

Answer :

TDS calculated on the Standard Invoice would be reversed in percentage of the amount implemented to the Total Amount Standard Invoice bearing TDS.

Question forty eight. What Happens When Standard Invoice Having Multiple Tds Codes Is Applied To A Prepayment Invoice With Multiple Tds Code?

Answer :

TDS calculated at the Prepayment Invoice distribution to which the Standard Invoice is applied is taken into consideration for reversal. TDS Amount calculated at the applied Prepayment line might be reversed in proportion to the amount implemented to the Total Amount Prepayment Invoice.

Question forty nine. Why Should The User Define A Fin Year For Tds? What Is The Impact Of Creating Such Fin Year?Whilst Should I Close The Current Fin Year?

Answer :

This is mandatory for calculating TDS on Invoices. Also, the TDS Certificate Number would be re-set every Fin Year.
Once the current monetary 12 months-ends, you may must navigate to the TDS Period India
Localization display and press 'New Financial Year' button.