1Z0-506 Online Practice Questions and Answers

The drilldown option available in the task pane for receipts does NOT include .

A. Create Remittance via Spreadsheet

B. Correct Funds Transfer Errors

C. Lockbox Transmission History

D. Create Receipt via Spreadsheet

You are the Billing Manager and you are in charge of reviewing transactions and approving them.

Which two tabs are available for your role in the Adjustments Overview Region on the Billing Work Area page?

A. Pending My Approval

B. Pending Approval

C. Pending Approval from Others

D. Approved

E. Pending Research

What are the three steps required to implement the Lockbox feature?

A. Set up Receipt Sources.

B. Set up Receipt Classes and Receipt Methods.

C. Set up Lockbox and Lockbox Transmission Formats.

D. Set up late charges.

E. Set up credit card refunds.

What option is available for the Collection manager for viewing customer data in the Delinquent Customer Region on the collections Work Area pages?

A. PDF view

B. Query by Example

C. Export to Excel

D. Export to HTML

Which statement is TRUE regarding Time Zone Derivation Rules for Transactions?

A. Time zone conversion applies to the transaction date and adjustment date and NOT the accounting date on transactions.

B. Time zone is derived from the legal entity associated ONLY lo the default, business unit of the transaction.

C. If there is a legal entity associated with the business unit used on the transaction, then the system date is used.

D. Time zone rules apply to invoices, credit memos, on account credit memos, debit memos, chargebacks, and adjustments.

The Receipt Remittances Region on the Receivable Balances Work Area has tabs containing Information on receipts.

What are two tabs in the Receipt Remittance Region?

A. Unapplied Receipts

B. Pending Approval

C. Pending Clearance

D. Pending Confirmation

E. On Account Receipts

Which transaction will be included when selecting transactions of specified customers in the Createm Balance Forward Billing Program?

A. Transactions that have a Bill Type of Imported

B. Transactions that were included on a previous Balance Forward Bill

C. Transactions that have the selected payment terms

D. Transactions that have the Print Option set to Do Not Print

Which three ways will changing the customer information impart the collection process?

A. Making changes In the Profile tab Impacts the collection process.

B. Business unit level changes will NOT Impact the display of delinquent customers on the dashboard.

C. Adding or modifying the customer contact name in the Contacts tab impacts where the correspondence is sent.

D. Changing the Collector impacts the individual working with the delinquent customer.

E. Changing Information in the Profile Tab does NOT have an impact on the level in which the collections are done.

The Receipts Pending Application region in the Receivables Dashboard provides Information about which two Items?

A. Receipt Status

B. Batch type

C. Control Amount

D. Receipt Date

E. Amount

A Billing Specialist runs the Create Automatic Billing Adjustments program to automatically adjust the remaining balance on open Invoices, but some of the amounts have exceeded his approval limits, what will be the result?

A. The program creates adjustments only for the amounts within his approval limit

B. The program creates the adjustments with a status of Rejected for the amount that exceeds his approval limits.

C. The program creates the adjustments with a status of Pending Approval for the amount that exceeds his approval limits.

D. The program can only be run if the amount is within his approval limits.