Oracle Fusion Financials 11g Accounts Receivable Essentials - 1z1-506

Oracle 1z1-506 test insides dumps
  • Exam Code: 1z1-506
  • Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
  • Updated: Jul 18, 2026
  • Q & A: 123 Questions and Answers
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Oracle 1z1-506 Exam Syllabus Topics:
SectionWeightObjectives
Topic 1: Receivables Setups22%- Receipts Setup
  • 1. Configure autoCash rule sets
    • 2. Set up remittance bank accounts
      • 3. Define receipt classes and methods
        - Transactions Setup
        • 1. Set up memo lines
          • 2. Define transaction types
            • 3. Configure transaction sources
              - System Options
              • 1. Set up autoaccounting
                • 2. Configure accounting options
                  • 3. Define receivables system options
                    Topic 2: Transaction Processing25%- Invoicing
                    • 1. Manage credit and debit memos
                      • 2. Correct and adjust transactions
                        • 3. Create and update invoices
                          - Revenue Management
                          • 1. Define revenue recognition policies
                            • 2. Review revenue accounting
                              • 3. Manage contingencies
                                Topic 3: Collections and Period Close13%- Period Close
                                • 1. Complete receivables period close
                                  • 2. Generate reports and inquiries
                                    • 3. Reconcile to general ledger
                                      - Collections Management
                                      • 1. Manage dunning and correspondence
                                        • 2. Use collections dashboard
                                          • 3. Process disputes and follow-ups
                                            Topic 4: Customer Management20%- Customer Accounts
                                            • 1. Define profile classes
                                              • 2. Create and maintain customer accounts
                                                • 3. Manage customer sites and contacts
                                                  - Credit Management
                                                  • 1. Configure credit checking rules
                                                    • 2. Set up credit limits
                                                      Topic 5: Receipt Processing and Application20%- Receipt Application
                                                      • 1. Manage unapplied and on-account receipts
                                                        • 2. Process chargebacks and adjustments
                                                          • 3. Apply receipts to open items
                                                            - Receipt Creation
                                                            • 1. Import receipts via lockbox
                                                              • 2. Process automatic receipts
                                                                • 3. Enter manual receipts
                                                                  Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

                                                                  1. What is the impact on transactions if you change the billing cycle for a customer of group of customers?

                                                                  A) New transaction after this change inherit the new billing cycle.
                                                                  B) Existing transactions with activity adapt the; new billing cycle.
                                                                  C) The billing cycle does NOT have any impact on new transactions.
                                                                  D) Existing transactions with NO activity retain the old billing cycle.


                                                                  2. In a scenario receipts are factored receipt class that requires confirmation, remittance, and clearance. Select the valid accounting entry that would be generated when receipts are cleared.

                                                                  A) The Short term debt account is debited and the Factoring account is credited.
                                                                  B) The Cash and Bank charges accounts are debited and the Factoring account is credited
                                                                  C) The Factoring account is debited and the Short term debt account is credited.
                                                                  D) The Cash and Bank charges accounts are debited and the Short term debt account is credited


                                                                  3. The Accounts Receivable Specialist associated duty include which three duties?

                                                                  A) Import Payables invoices Duty
                                                                  B) Trading Community Hierarchy Management Duty
                                                                  C) Receipt Creation Duty
                                                                  D) Receivables Accounting Duty
                                                                  E) Payment Settlement Management Duty


                                                                  4. The collections Manager wants to see a summary of delinquency data for a specific customer. Which tab will display the summary delinquency data?

                                                                  A) Contacts tab
                                                                  B) Profile lab
                                                                  C) Customer Aging tab
                                                                  D) Transactions lab


                                                                  5. The interactive Receivables to General ledger Reconciliation Report allows reconciliation.

                                                                  A) only by ledger
                                                                  B) only by specific organization
                                                                  C) by ledger, specific organization, OR account balancing segment
                                                                  D) only by account balancing segment


                                                                  Solutions:

                                                                  Question # 1
                                                                  Answer: A
                                                                  Question # 2
                                                                  Answer: A
                                                                  Question # 3
                                                                  Answer: C,D,E
                                                                  Question # 4
                                                                  Answer: C
                                                                  Question # 5
                                                                  Answer: A

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