Oracle Fusion Financials 11g Accounts Receivable Essentials: 1z0-506 Exam

"Oracle Fusion Financials 11g Accounts Receivable Essentials", also known as 1z0-506 exam, is a Oracle Certification. With the complete collection of questions and answers, PrepAwayPDF has assembled to take you through 123 Q&As to your 1z0-506 Exam preparation. In the 1z0-506 exam resources, you will cover every field and category in Oracle Applications Certification helping to ready you for your successful Oracle Certification.

  • Exam Code: 1z0-506
  • Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
  • Certification Provider: Oracle
  • Corresponding Certification: Oracle Applications
  • Updated: Jul 28, 2026
  • No. of Questions: 123 Questions & Answers with Testing Engine
  • Download Limit: Unlimited

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Oracle 1z0-506 Exam Syllabus Topics:

SectionWeightObjectives
Customer Management20%- Customer Accounts
  • 1. Create and maintain customer accounts
    • 2. Define profile classes
      • 3. Manage customer sites and contacts
        - Credit Management
        • 1. Set up credit limits
          • 2. Configure credit checking rules
            Receivables Setups22%- Transactions Setup
            • 1. Configure transaction sources
              • 2. Set up memo lines
                • 3. Define transaction types
                  - System Options
                  • 1. Define receivables system options
                    • 2. Set up autoaccounting
                      • 3. Configure accounting options
                        - Receipts Setup
                        • 1. Set up remittance bank accounts
                          • 2. Define receipt classes and methods
                            • 3. Configure autoCash rule sets
                              Receipt Processing and Application20%- Receipt Application
                              • 1. Apply receipts to open items
                                • 2. Manage unapplied and on-account receipts
                                  • 3. Process chargebacks and adjustments
                                    - Receipt Creation
                                    • 1. Import receipts via lockbox
                                      • 2. Process automatic receipts
                                        • 3. Enter manual receipts
                                          Transaction Processing25%- Invoicing
                                          • 1. Create and update invoices
                                            • 2. Correct and adjust transactions
                                              • 3. Manage credit and debit memos
                                                - Revenue Management
                                                • 1. Manage contingencies
                                                  • 2. Review revenue accounting
                                                    • 3. Define revenue recognition policies
                                                      Collections and Period Close13%- Collections Management
                                                      • 1. Process disputes and follow-ups
                                                        • 2. Use collections dashboard
                                                          • 3. Manage dunning and correspondence
                                                            - Period Close
                                                            • 1. Reconcile to general ledger
                                                              • 2. Generate reports and inquiries
                                                                • 3. Complete receivables period close

                                                                  Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

                                                                  1. What three Items must be set up in the Application Set Up Manager to facilitate refunds?

                                                                  A) Credit Card Chargeback
                                                                  B) Late charges
                                                                  C) Automatic Receipt Handling
                                                                  D) Non credit card refunds
                                                                  E) Credit card refunds


                                                                  2. A customer calls into the Accounts Receivables Department asking for the balance of all invoices due in the next 30 days and has a question about a specific invoice line. As a Billing Specialist what action will you perform?

                                                                  A) Create an open debit memo.
                                                                  B) Apply, reverse, or process the receipt.
                                                                  C) Review receipt-, in pending status
                                                                  D) Review the invoice in the Review Customer Account Details user interface.


                                                                  3. The rules applicable to issue refunds are____________. Select two.

                                                                  A) You can refund receipts that are factored.
                                                                  B) You can issue a credit card refund to a customer who has made a cash payment.
                                                                  C) You can NOT refund more than either the original receipt amount or the remaining unapplied amount.
                                                                  D) You can refund receipts that were either remitted or cleared.


                                                                  4. 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


                                                                  5. What is the grouping order used to group transaction lines during the Autoinvoice Import process?

                                                                  A) System options. Customer Site Profile, Transaction Source, Customer Account Profile
                                                                  B) transaction Source, Customer Site Profile, Customer Account Profile, system options
                                                                  C) Transaction Source, Customer Account Profile, system options. Customer Site Profile
                                                                  D) Transaction Source, Customer Account Profile, Customer Site Profile, system options


                                                                  Solutions:

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

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