When it comes to managing finances in a business, Oracle R12 Payables plays a crucial role. Having the right talent onboard is especially important for organizations that use this software, as it’s integral in processing, reviewing, and approving invoices. With that said, there are certain questions that should be asked during the interview process in order to determine whether a certain candidate is the right fit for the job. In this blog post, we’ll be exploring the 21 most important Oracle R12 Payables interview questions.
We’ll be taking an in-depth look at the skills and competencies required for the job, and how to evaluate the candidate’s knowledge and experience. Additionally, we’ll be providing some tips and tricks to help you find the best possible candidates for the job. With this information, you’ll be able to make an informed decision and choose the right person for the job. So without further ado, let’
Oracle R12 Financials Training | P2P Cycle – Interview Questions & Answers
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Frequently Asked Oracle Apps Functional Interview Questions
The debit and credit lines in journals, which are used to record business transactions, must always be equal. Suspense journals, unbalanced journals, recurring journals, and reversal journals are among the different types of journals.
Sales order; Book Order; Release Order; Confirm Order; Close Order; Import Invoice; Print Invoice; Recognize Revenue; Defer Cost of Goods; Enter Receipt; Apply Receipt
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Q Explain about Accounts Payable.
Ans: The Accounts Payable application component keeps track of and manages all vendors’ accounting information. Deliveries and invoices are managed in accordance with vendors, and it is also a crucial component of the purchasing system. The system responds to the operational transactions by automatically triggering postings. The system also provides data from invoices to the Cash Management application component to enhance liquidity planning.
What is Translations & Revaluation and which level is working?
Ans:
At the account level, it is used to convert functional currency balances into foreign currency balances.
Revaluation: It’s a technique for determining the unrealized gain or loss. which is occurring on the currency fluctuation.
Example:
According to the aforementioned journal lines, the customer owes the supplier $200 on December 1, 2009.
FAQ
What questions are asked in accounts payable interview?
- “Which accounting software do you have experience with?”
- Can you share your experiences with past invoice disputes and how you handled them?
- “Can you explain end-to-end process of accounts payable?”
- “How would you balance accuracy and efficiency in this job?
What is payable options in Oracle Apps r12?
Set control options and defaults for Payables using this window. This window allows you to set defaults that will streamline the process of entering suppliers, invoices, and automatic payments.
What are the different types of invoices in Oracle Apps r12?
- Standard.
- Mixed.
- PO Price Adjustment.
- Credit Memo.
- Debit Memo.
- Prepayment.
- Expense Report.
How is Oracle used for accounts payable?
To enable suppliers to enter and track the status of their own invoices, Oracle Payables integrates with the iSupplier Portal. When Oracle Internet Expenses and Oracle Payables are combined, employees gain from having more options for submitting expense reports.
