Saturday, August 11, 2012

Oracle Account Receivables Interview Questions

1)      How many KFF are in AR?
In AR two Flex Fields. Sales tax Location Flex field, Territory Flex field.

2)      What are Aging Buckets?
It is for Outstanding Reports purpose the number of days in various ranges.

3)      How will you know a Customer Balance Amount?
Using with the Customer Account Overview window

4)      How many Transactions we have?
Six Transactions. Credit Transactions, Invoice, Debit Memo, Charge back, Guarantee, Deposit.

5)      What is Accounting Rules?
It is For Generating Revenue Recognition Programs like Monthly, Quarterly.

6)      What are the Pre-Requisites for Generating Receipts?
Pre-Requisites for generating Receipts Receipt Class, Receipt Source and Banks.

7)      What is the database tables involved for performing Auto invoice?

       8)   What are chargeback and adjustments? How to create them?
Chargeback is postpoment of payment date. It can be done only in the receipts workbench. In this process the old invoice is cancelled and a new transaction is created for the postponed date.

9)      What are Standard Remittances and Bills Receivable Remittances?
 Standard remittance is remitting the cheque/DD to the bank for collection.
Bills Receivable remittances means remitting the Bills Receivable to the bank for collection on maturity date.

10)  What is the difference between Deposit and Gurantee Transactions?
Deposit: It is the pre-payments made by a customer that should be adjusted against the future debit transactions that are raised with respect to these pre-payments.
Guarantee: It is a documentation of the promise made by the customer to obtain the goods from the organization. This promise is documented as a guarantee. The customer does not make payment for the guarantee.

11)  What are the Customer Interface Tables provided in AR?

12)  What are Customer Profile Classes?
The Customers are categorized in terms of their credit worthiness, credit limits offered to them, payment terms, finance charges percentage etc. This process of setting the profile parameters for each category of customers is referred to as the profile class.

13)  What is taxable Basis available for a Tax Code?
(i) Before Tax (ii) After Tax (iii) prior Tax (iv) Quantity Based Tax.

14)  What is a Receivable Activity?
            It is an activity specific to the organizational needs for Miscellaneous Receipts, Finance Charges, Bank Errors and Adjustment transactions.

15)  What are the pre-requisites for entering a Manual receipt in AR?
            Invoices should have been defined against which the receipts will be applied and the payment method should be predefined and attached to the receipts.

16)   What is an Auto cash Rules?
            Auto cash rule set provides a set of rules which Receivables should follow for applying the receipts against the transactions. The default auto cash rule set can be specified in the System Option.

17)  What are the types of tax methods in Receivables?
(i) Location Based Tax (i.e.) Sales Tax           (ii) VAT Tax

       18) What is an Application Rule set?  
Application rule sets specify the default payment steps for your receipt applications and how discounts affect the open balance for each type of associated charges. By defining your own application rule set, you can determine how Receivables reduces the balance due for a transaction's line, tax, freight, and finance charges.
Receivables provide the following application rules:
·         Line First - Tax After: Apply to the open line item amount first. Apply any remaining amount in the following order: tax, freight, and then finance charges.
·         Line First - Tax Prorate: Apply a proportionate amount to the open line item amount and the open tax amount for each line. Apply any remaining amount to freight and then to finance charges.
·         Prorate All: Apply a proportionate amount to the line, tax, freight, and finance charges.

19) What are Statement Cycles? How can you print a Statement for a customer?
Statement cycles are to determine when to send statements to the customers. You assign these cycles to your customer and site level profiles. Receivables let you generate statements for all customers associated with a specific statement cycle.

20) What are Dunning Letters?
            Dunning Letters are the Warning/Reminder letters to the customers for their over dues.

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