At ValidExamDumps, we consistently monitor updates to the Oracle 1Z0-511 exam questions by Oracle. Whenever our team identifies changes in the exam questions,exam objectives, exam focus areas or in exam requirements, We immediately update our exam questions for both PDF and online practice exams. This commitment ensures our customers always have access to the most current and accurate questions. By preparing with these actual questions, our customers can successfully pass the Oracle E-Business Suite R12 Project Essentials exam on their first attempt without needing additional materials or study guides.
Other certification materials providers often include outdated or removed questions by Oracle in their Oracle 1Z0-511 exam. These outdated questions lead to customers failing their Oracle E-Business Suite R12 Project Essentials exam. In contrast, we ensure our questions bank includes only precise and up-to-date questions, guaranteeing their presence in your actual exam. Our main priority is your success in the Oracle 1Z0-511 exam, not profiting from selling obsolete exam questions in PDF or Online Practice Test.
Your company has two separate expenditure types to capture straight time and overtime labor transactions across all projects. When running cost distribution for labor transactions, the straight time labor must be charged to a labor expense account and overtime labor costs to an overhead expense account. How would you set up two different expense accounts?
Implement AutoAccounting to charge appropriate expense accounts
When you implement AutoAccounting, you can charge straight time costs to a labor expense account and overtime costs to an overhead or overtime expense account.
To charge straight time and overtime to different accounts, you define an AutoAccounting rule based on expenditure type, expenditure category, service type, compensation rule, or labor cost multiplier.
Note:
* Labor Cost Account Function
When you run the PRC: Distribute Labor Costs process, Oracle Projects calculates labor cost amounts based upon employee labor cost rates and compensation rules. After calculating labor costs, Oracle Projects uses the Labor Cost Account transactions to debit an expense account for raw labor costs.
* You need to define at least one overtime expenditure type. You use the Expenditure Types window to define overtime expenditure types classified by the Overtime expenditure type class.
A new contract project is created for work for a customer by using event-based billing. A decision has been made to give a discount to the customer on a particular invoice. You want to apply this discount and reduce the invoice without affecting revenue. Which event type should be used to achieve this?
Event Type Classification is: Scheduled Payment, Deferred Revenue, Invoice Reduction, Manual, or Automatic (for billing events only)
You have imported Labor transactions into Oracle Projects from Oracle Time and Labor by running the "PRC: Transaction Import" program. What is the correct sequence to run the concurrent programs listed below to transfer the cost and accounting entries of these transactions to General Ledger?
1. PRC: Distribute Labor Cost
2.PRC: Transfer Journal Entries to GL
3.PRC: Create Accounting (with the Transfer to GL option set to "No")
4.PRC: Interface Labor Costs to GL
5.PRC: Generate Cost Accounting Events
6.PRC: Distribute and Interface tabor costs to GL
The following activities take place as part of the expenditures process flow for labor costs:
1. Run the process PRC: Distribute Labor Costs. This process calculates the raw and burden cost components for labor cost expenditure items. It also uses AutoAccounting to determine the default debit account for each expenditure item.
2. Run the process PRC: Generate Cost Accounting Events. This process uses AutoAccounting to determine the default credit account for each expenditure item. It also generates accounting events for distributed transactions. You can optionally select Labor Cost as the process category to limit the process to labor costs.
3. Run the process PRC: Create Accounting. This process creates subledger journal entries for eligible accounting events. You can run the process in either draft or final mode. You can optionally select Labor Cost as the process category to limit the process to labor cost accounting events. Optionally, the process can post journal entries in Oracle General Ledger.
If you define your own detailed accounting rules in Oracle Subledger Accounting, then Oracle Subledger Accounting overwrites default accounts, or individual segments of accounts, that Oracle Projects derives using AutoAccounting.
4. Run the process PRC: Transfer Journal Entries to GL. When you run the process PRC: Create Accounting, if you select No for the parameter Transfer to GL, then you run the process PRC: Transfer Journal Entries to GL to transfer the final subledger journal entries from Oracle Subledger Accounting to Oracle General Ledger. You can optionally select Labor Cost as the process category to limit the process to labor cost accounting events. Optionally, the process can post journal entries in Oracle General Ledger.
5. Run Journal Import in Oracle General Ledger. (optional) This process brings the final accounting entries from Oracle Subledger Accounting into Oracle General Ledger.
A company is using Project Billing. To meet their billing requirements, the company has Set up various revenue categories. Identify four places where the company can use these revenue categories in Oracle Project.
Revenue categories are used for grouping expenditure types (B) and event types (C) for revenue and billing
You can use revenue categories for budgeting (F), for reporting purposes, and in your AutoAccounting rules (E). Revenue Categories are also used for grouping expenditure types for revenue and billing (B).
Note:
* A revenue category describes a source of your organization's revenue. For example, a revenue category with a name such as Labor refers to labor revenue.
An organization uses Oracle Projects and has fully installed Oracle Human Resources. Which statement does not apply to this scenario?
Note:
* Oracle Projects fully integrates with Oracle Human Resources to keep track of employees and information relevant to them, such as bill rates and mailing address.
