Most Recent Oracle 1Z0-511 Exam Questions & Answers

You can split an item into two items so that you can process the two resulting split items differently.

For example, you may have an item for 10 hours, of which you want 6 hours to be billable and 4 hours to be non-billable. You would split the item of 10 hours into two items of 6 hours and 4 hours, marking the 6 hours to be billable and 4 hours to be non-billable.

The resulting split items are charged to the same project and task as the original item.

You can automatically create and baseline an Approved Revenue Budget for a project by checking the Baseline Funding without Budget check box in the Project Funding Inquiry window.

Note: Budget/Fund/Bill at Project or Top Task Level

You can create a revenue budget, funding source allocation and project agreement, and perform billing at either the project or the top task level. After you have created an allocation line at either level, you cannot change to another level. For example, if you have created a funding allocation for a top task, you cannot create another funding allocation for the same project without entering a top task.

Note:

Setting up Multi-Currency Transactions

To set up your system to process multi-currency transactions, perform the following steps:

* Implementation Options

Use the Currency Implementation Options to control the default values for currency attributes at the operating unit level. Oracle Projects uses the currency attributes to calculate currency exchange rates. See: Currency Implementation Options.

* Currency

For each project for which you want to process multi-currency transactions, set up the Currency options in the project and task options window. This option enables you to enter default currency attributes for a project. See: Currency, Oracle Projects Fundamentals.

* Cross Charge

You can use the Cross Charge Options to specify whether the project can accept charges from other operating units. See: Cross Charge Setup, Oracle Projects Fundamentals.

* Task Currency and Cross Charge Options

* You can use the Task Currency and Cross Charge Options to override the costing currency conversion attributes and cross charge options in a lowest task. See: Currency, Oracle Projects Fundamentals and Cross Charge Setup, Oracle Projects Fundamentals.

* Transaction Entry and Transaction Import

During Transaction Entry and Transaction Import, you can override the project and task currency attributes. See: Entering Expenditures, Oracle Project Billing User Guide and Currency Conversion Attributes for Imported Transactions, Oracle Projects APIs, Client Extensions, and Open Interfaces Reference.

Project Status Inquiry

You can quickly and easily review the current status of a project, and then drill down for a more detailed review of the project and its tasks. It enables you to search for a project using search criteria. You can review project, task, and resource summary amounts, and actual and commitment amounts using a different resource list.

Oracle Projects maintains various levels of project summary amounts for cost, commitment, revenue, and budget amounts by project, task, and resource. You can review project summary amounts to quickly determine the status of a project, such as reviewing the current and original budgeted amounts and compare them to actual and commitment amounts. You can drill down to see summary amounts for the resources of the project or the selected task. You can select a resource list by which you want to view actuals and budgets. In addition, you can export project status inquiry data into an Excel spreadsheet for further analysis.

Note:

* You can set up an agreement to require advance payments by selecting the Advance required on the agreement. You can also use the Advance Required client extension to determine which agreements require advance payments. On these agreements, you can enter funding only up to the amount of advance payments.

The ability to change the Advance Required agreement option is controlled by function security.

* Agreements with Advance Payments

You can require advance payments on an agreement and record advance payments as they are made. When you generate draft invoices for projects that are funded by the agreement, the advance balance that is displayed on the funding summary is reduced. You then interface the invoice to Receivables. The AutoInvoice process in Oracle Receivables reduces the balance on the advance.