Oracle Financials and Projects Suite: 2006

Oracle Accounts Payables Interview Questions

Questions in Accounts Payable

1. Q: How do you set up voucher number in AP?
A: Set up in the system administration.

2. Q: Can I have two sets of voucher numbering for different periods for e.g. one from 1st Apr to 31st Mar’99 and another from 1st Apr’00 to 31st Mar’01.
A: Yes, define different sequences

3. Q: What is the profile option for voucher number?
A: Sequential Numbering

4. Q: Can I have Multiple currency Bank accounts? If so how do I set it up?
A: Yes, Payable option and define Bank screen.

5. Q: Explain the procedure for dealing with cash transactions including advance made in cash and return of cash?
A: Create a dummy cash bank

6. Q: If I do not have a foreign currency Bank account, tell me whether I can raise a foreign currency Purchase order and pay for it in Functional Currency.?
A: NO

7. Q: Can I define Invoice type? Is it a quick code
A: NO

8. Q: What is a 4-way match?

9. Q: How do I make payment for a demand draft?
A: Either define a dummy supplier or enable the flexfield in the payment screen and write a alternate check printing program

10. Q: Explain the procedure for transferring the asset from AP to FA.
A: Transfer the invoices to GL and run the Create Mass Additions Program

11. Q: Can I create recurring invoices for prior periods?
A: NO

12. Q: Can I set approval hierarchy for expense express amounts.
A: Yes

13. Q: What is a pooled account and what does it do?
A: A pooled bank account is one that is shared by multiple companies in the balancing segment

14. Q: Where do you define the accounting information for a supplier?
A: At site level

15. Q: What types of Distribution Sets can you use for a recurring invoice?
A: Only of the type “Full”

16. Q: What are the different types of holds?
A: System Holds, Manual Holds, Supplier Site Holds

17. Q: For what purposes is the special calendar defined?

A: Recurring Invoices, Key Indicators Report and With holding Taxes

18. Q: Difference between permanent prepayment and temporary prepayment ?
A: Permanent prepayment is for long term deposits like telephone deposit, electricity deposit etc.

19. Q: Can you change permanent prepayment to temporary and vice versa at a latter date /
A: Yes

20. Q: Maximum number of discounts that can be given to each payment line?
A: Three

I Will be posting some more questions on other modules as well soon..!! So..Keeeep Browsing and any suggestions to make this blog more powerful will be highly appreciated..!!

Thanks,
Raju MVN

Oracle Internet Expenses Setup Steps

It's a feature has a useful How to, for configuring Oracle iExpenses.

According to the Oracle Internet Expenses Site:

Oracle Internet Expenses is a travel and entertainment solution that streamlines and automates travel spend management. The result: a dramatic and immediate return on investment with direct impact on the bottom line.

The Key Steps Mentioned in the It’s a Feature blog entry are:

1. PA: Enable Project Expenditure Types for Expense Report Entry
2. AP: Define Expense Report Templates
3. AP: Define Financials Options > Accounting
4. AP: Establish Multiple Currencies Setup
5. AP: Defining Expense Report Options
6. AP: Assign Signing Limits
7. OIE: Define iExpense Policies
8. OIE: Enable Expense Allocations
9. OIE: Define Receipt Notification Rule Set
10. OIE: Assign Receipt Notification Rule Set
11. OIE: Define Mileage Rate Schedule
12. AP: Complete Mileage Expense Type Definition in Payables
13. SA: Define Profile Options
14. WF: Customize Project Expense Report Account Generator
15. GL: Assign Your Customized Project Expense Report Account Generator to your chart of accounts
16. WF: Customize the Internet Expenses Workflow
17. WF: Define Workflow Notification Performers
18. Change the Find Approver Method
19. Personalize Expense Report Submission Instructions
20. Compile the Expense Types Descriptive flexfield!
21. Enable the Display of Project and Task
22. Other Configuration Considerations

Enjoy..Learning..!!
Raju MVN

How Account Generation Really Works in Oracle iExpense

How Account Generation Really Works in Oracle iExpense

Speaking about features and idiosyncrasies, let’s talk about how the accounting flexfield is generated in Oracle iExpenses (10.5.10) when employee submits his or her expense report. For simplicity sake, let’s assume the expense report does not have any multi-currency or credit card items. And as example, let’s assume we are using a simple chart of accounts containing of three segments:
Company-Cost Center-Account
Our employee belongs to company 100, and cost center 1000. Oracle iExpenses follows these steps to generate his account during the expense report entry:
Step 1: The Default Expense Account Defined in employee’s HR assignment:

100-1000-55555

Step 2: Employee enters the Expense Report Header. If he does not override the Cost Center, iExpenses proceeds to Step 3. If he does override the Cost Center (e.g. 2000), Oracle iExpenses builds an initial accounting combination of his Default Expense Account with his new Override Department.

100-2000-55555

The Feature: If this initial combination is invalid, employee will be able to proceed with the expense report entry but the report submission will fail without notifying the employee and regardless what the employee enters below!

Step 3: Employee enters expense line with an expense type (e.g. Airfare=50050) and no project. The system generates the expense line accounting flexfield. If project and task are entered, the system proceeds to Step 5:

100-2000-50050

Step 4: If Expense Allocations functionality is enabled, employee can change the above expense distribution for each line (e.g. 200-2222). If the above expense combination is invalid and the employee does not update it, the expense report submission will fail.

200-2222-50050

Step 5: Project and Task were entered at the expense line level: iExpenses will engage the Account Generator, and will follow its rules to update the initial combination, and build the new one. For example, let’s say the Company is derived from Project Organization (Seattle=100), Department from Override Department above (2000), and Account from Expense Type (Airfare). The resulting accounting combination will look as follows:

200-2000-50050

Implementation Tip: Define one Default Expense Account to be valid across all combinations of companies and cost centers, which will be used in cross-charges.

Hope you will find this information helpful. We did not have much luck trying to figure this out using the available Oracle resources.