Oracle 1Z0-1056-26 flashcards
Oracle 1Z0-1056-26 · Build recall with a focused review session.
32 cards. Read the term and the definition here. The deck at the top of this page is optional.
- AutoAccounting
- A setup feature that derives each transaction account segment from ordered sources such as constants, salesreps, memo lines, taxes, and transaction types; the first source returning a value wins.
- Transaction Type
- A Receivables setup that defines the transaction class (invoice, credit memo, debit memo, deposit, chargeback), the natural application rule, and whether the type is open or closed for posting.
- Payment Terms
- Setup that defines installment schedules and discount terms, including the discount percentage, discount days, and grace days before the due date used to calculate early-payment discounts.
- Accounting Rule
- A setup that splits revenue across accounting periods using a fixed or variable schedule; it applies to invoices and credit memos and determines when revenue is recognized.
- Receivables Activity
- A setup that classifies adjustments, freight, late charges, and AutoInvoice clearing; each activity carries a distribution account and a tax rate code used in accounting.
- Customer Profile Class
- A setup that provides defaults for credit limit, payment terms, statement cycle, dunning letters, and collector; these defaults flow to accounts and can be overridden at the site.
- Party and Account
- The party is the single source of identity; the customer account holds the business relationship; account sites hold bill-to, ship-to, and remit-to addresses used on transactions.
- Credit Check
- A control that compares exposure (open receivables plus the new transaction) against the credit limit at the account or site level, per the profile's credit-checking rule.
- Chargeback
- A transaction that moves an unpaid invoice balance to a new transaction with a new due date; it is typically used when a customer disputes part of an invoice but pays the rest.
- Deposit (Prepayment)
- A Receivables transaction that creates a liability; it is later applied to an invoice through the Apply Deposit action or AutoApply to reduce the invoice balance.
- AutoInvoice Interface Tables
- RA_INTERFACE_LINES_ALL holds transaction lines and RA_INTERFACE_DISTRIBUTIONS_ALL holds distributions; AutoInvoice imports, validates, and creates transactions from these tables.
- Grouping Rule
- An AutoInvoice setup that determines how interface lines combine into transactions, typically by customer, ship-to, bill-to, currency, and transaction date.
- Line Ordering Rule
- An AutoInvoice setup that assigns line numbers within a transaction; it can order by a specific column such as line number, item, or amount.
- Memo Line
- A non-inventory transaction line with a predefined account used for freight, taxes, or other charges that are not tied to an inventory item; it requires a valid account and tax rate code.
- AutoInvoice Execution Report
- A report listing imported, rejected, and corrected lines; rejections are caused by invalid transaction types, missing salesreps, invalid currency, or invalid accounting.
- Receipt Method
- A setup that determines the entry path (manual, automatic, quick), the remittance bank account, and the receipt class used when a receipt is created.
- Unapplied Receipt
- A receipt that has not been applied to an invoice; it remains a liability until applied through AutoApply or manual application, and must be cleared before period close.
- AutoApply
- A program that applies on-account and unapplied receipts to open invoices using the application rule order: transaction number, due date, or a custom rule.
- AutoLockbox
- A process that loads bank lockbox files into the Receivables interface tables; the Lockbox program validates and creates receipts, then applies them.
- Receipt Reversal
- An action that restores the invoice balance and reverses the accounting; the reversal date must fall in an open or future period for the entries to post.
- Collection Plan
- A collections setup assigned to a customer account that defines the aging bucket and the action (letter, call, task) used to follow up on overdue balances.
- Aging Bucket
- A collections setup that groups overdue balances by the number of days past due; bucket boundaries are defined in the Collections setup and drive reporting and dunning.
- Dunning Letter
- A letter generated from a template and a collection plan; it is tied to the customer's statement cycle and the collector assigned to the account.
- Credit Hold
- A control that prevents new transactions from being created; releasing the hold requires the collector or credit manager to clear the exposure.
- Collector
- A person assigned at the account level who determines which work queue the account appears in; collectors can be reassigned to different accounts.
- ASC 606 Five Steps
- Identify the contract, identify performance obligations, determine the transaction price, allocate the price, and recognize revenue when the obligation is satisfied.
- Revenue Contract
- A Revenue Management record that stores performance obligations and their allocation; it generates revenue recognition events that post to GL through SLA.
- Contingency Hold
- A Revenue Management control that prevents revenue recognition until a condition is met; releasing the contingency allows the recognition schedule to proceed.
- Subledger Accounting (SLA)
- The accounting engine that creates journal entries for Receivables; the Create Accounting program transfers entries to GL and the Transfer to GL program posts them.
- AR Aging Report
- A report that groups open receivables by aging bucket and shows the total overdue; it is the primary collections and period-close report.
- AR to GL Reconciliation
- A reconciliation that compares the AR subledger balance to the GL balance; differences indicate unposted or unaccounted transactions that must be resolved before close.
- Period Close Sequence
- Complete all transactions, run AutoInvoice, apply receipts, run Create Accounting, transfer to GL, then close the period; incomplete transactions block the close.