Oracle E-Business Suite R12.1 Payables Essentials (1Z0-517) Practice Exam

Oracle E-Business Suite R12.1 Payables Essentials (1Z0-517) Practice Exam

 

The Oracle E-Business Suite 12 Financial Management Certified Implementation Specialist: Oracle Payables certification provides professionals with a comprehensive foundation in E-Business Essentials. Candidates gain expertise in navigating and utilizing the R12 E-Business Suite, managing data input, executing queries, and accessing online support resources. This certification further validates skills in configuring and managing Oracle Payables, including invoice processing, payment settlement, and accounts payable management. Earning this credential enhances professional credibility, strengthens career prospects, and provides OPN Members with recognition as OPN Certified Specialists, supporting their organization’s Oracle E-Business Suite Financial Management Specialization.

Who should take the exam?

The Oracle E-Business Suite R12.1 Payables Essentials (1Z0-517) exam is designed for individuals who want to validate their understanding of core functionalities within the Oracle E-Business Suite Payables module, specifically in the R12.1 release. The target role includes:

• Accounts Payable Professionals
• Oracle Payables Implementers/Consultants
• Individuals Upskilling in Oracle E-Business Suite

Exam Details

• Exam Name: Oracle E-Business Suite R12.1 Payables Essentials
• Exam Number: 1Z0-517
• Exam Languages: English
• Exam Questions: 64 Questions
• Time: 120 minutes
• Passing Score: 60%

Course Outline 

The Exam covers the given topics  - 

Topic 1: Learn about Navigating in R12 Oracle Applications

• Log in to Oracle Applications
• Navigate from Personal Home Page to Applications
• Choose a responsibility
• Create Favorites and set Preferences
• Use Forms and Menus
• Enter data using Forms
• Search for data using Forms
• Access online Help
• Run and monitor Reports and Programs
• Log out of Oracle Applications

 

Topic 2: Overview of Oracle Applications R12

• Explain the footprint of R12 E-Business Suite
• Describe the benefits of R12 E-Business Suite
• Describe R12 E-Business Suite architecture

 

Topic 3: Understand Shared Entities and Integration

• Explain shared entities within R12 E-Business Suite
• Describe key integration points and business flows between products in E-Business Suite (EBS)
• Identify Key Business Flows and products involved in E-Business Suite (EBS)

 

Topic 4: Fundamentals of Flexfields

• Describe Flexfields and their components
• Identify the steps to implement a Flexfield
• Define value sets and values
• Define Key Flexfields
• Define Descriptive Flexfields

 

Topic 5: Understand the Fundamentals of Multi-Org

• Define Multiple Organization (Multi-Org)
• Describe the types of organizations supported in the Multi-Org model
• Explain the entities of Multi-Org
• Explain how Multi-Org secures data
• Identify key implementation considerations for Multi-Org
• Define Multi-Org Access Control
• Explain Multi-Org preferences
• Explain Enhanced Multiple-Organization Reporting
• Explain the concepts of subledger accounting

 

Topic 6: Fundamentals of Workflow and Alerts

• Explain Workflow concepts
• Describe the benefits of Workflow

 

Topic 7: Learn about Procure to Pay

• Describe the procure-to-pay process flow
• Describe the key areas in the procure-to-pay process 
• Describe how the procure-to-pay process fits into the Oracle E-Business Suite of applications

 

Topic 8: Transaction Taxes in Payables 

• Compute transaction taxes for invoices
• Insert manual tax lines and update transaction tax lines 
• View tax summary and details 
• Identify key reports related to transaction taxes 
• Describe setup options in EB Tax & Payables 
• Describe transaction taxes in Payables 
• Describe treatment of different types of taxes (offset tax, recoverable tax, tax on prepayment, and others)

 

Topic 9: Understand Withholding Tax 

• Identify the withholding tax process
• Use withholding tax options 
• Process manual withholding tax invoices 
• Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment
• Process automatic withholding tax invoices

 

Topic 10: Advances and Progressive Contract Financing

• Describe the purpose of complex service contracts
• Identify advances, contract financing and progress payment invoices 
• Calculate retainage 
• Recoup prepaided amounts for complex service contract
• Calculate tax

 

Topic 11: Payables Overview

• Describe the Payables process flow
• Describe the key areas in the Payables process 
• Identify Payables integration points 
• Identify open interfaces to import data into Payables
• Set up and use Multiple Organization Access Controls (MOAC)

 

Topic 12: Suppliers  

• Define suppliers and supplier sites
• Identify key reports related to suppliers and supplier sites 
• Describe setup options - Purchasing 
• Describe additional implementation considerations related to suppliers 
• Describe setup options - Receiving 
• Describe setup options - Others

 

Topic 13: Overview of Payments  

• Describe the payment process
• Set up banks and bank accounts 
• Enter single payments 
• Process multiple payments 
• Review and adjust payments 
• Set up and create bills payable 
• Create, apply, and release holds on prepayments 
• Reconcile payments with Oracle Cash Management 
• Use key standard reports 
• Describe key setup options
• Describe additional implementation considerations related to payments
• Describe Payment Manager

 

Topic 14: Invoices  

• Import/Enter invoices and invoice distributions
• Match to purchase orders 
• Validate invoices 
• Apply and release holds 
• Describe invoice approval workflow 
• Describe key reports 
• Describe setup options
• Describe additional implementation considerations related to invoices

 

Topic 15: Expense Reports and Credit Cards

• Process various types of expense report
• Enter expense report templates 
• Enter expense reports 
• Apply advances
• Process procurement cards and credit cards

 

Topic 16: Period Close

• Describe activities to be performed during the Period Close process in Payables and Purchasing
• Reconcile accounts payable transactions for the period 
• Identify key programs and reports related to Period Close 
• Describe setup options related to Period Close 
• Describe additional implementation considerations related to Period Close 
• Explain the prerequisites for the Period Close process 
• Transfer from Payables to General Ledger