Online Access Free 1z1-506 Practice Test

When a customer receipt does not provide sufficient information to identify the customer or invoice, which is the correct method of entering the receipt?

• A.Enter the receipt as an UNIDENTTFIFD receipt.
• B.Enter the receipt as an on-account receipt.
• C.Enter the receipt as an UNAPPLIED receipt.
• D.Enter the receipt as a miscellaneous receipt.

The AutoCash Rule Set defines the order in which the system will apply the receipt to an open debit Item. Which Autocash Rule is NOT defined in the receivables setup?

• A.Apply to the latest invoice first
• B.Clear past due invoices
• C.Apply to the oldest invoice first
• D.Clear past due invoices grouped by Payment Terms

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 NO activity retain the old billing cycle.
• C.The billing cycle does NOT have any impact on new transactions.
• D.Existing transactions with activity adapt the; new billing cycle.

A Receivables Manager wants to override the receipt remittance bank account with the remittance batch bank account. Select three valid setups that will enable an override of the receipt remittance bank account.

• A.Enable the Override Bank option on the receipt remittance bank.
• B.Both the receipt and remittance batch bank account should have different General Ledger at accounts defined.
• C.Enable the Ignore the Override option on the remittance batch.
• D.Disable the Ignore Override option on the remittance batch.
• E.Enable the Allow Override option on the receipt.

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