Most Recent Oracle 1Z0-511 Exam Questions & Answers

After you have performed the adjustment actions, you need to run the appropriate processes to process the adjustments.

The table below notes what processes to run to process each adjustment action.

B: To define class categories and class codes:

1. Navigate to the Class Categories and Codes window.

2. Enter a unique Class Category name and a Description.

3. Specify whether the class category is mandatory for every project you define.

Enable if all projects must have a code assigned to this class category. Do not enable if this class category is optional. If you do not enable this option, you cannot use this class category in your AutoAccounting rules.

4. Specify whether you want to use the class category in your AutoAccounting rules.

Suggestion: For each project, you can use only one code with one class category for use with AutoAccounting rules. If an AutoAccounting category already exists within a particular date range, assign an end date to the existing AutoAccounting category and then create a new one.

5. Specify whether you want to allow entry of only one class code with this class category for a project.

Note: Defining multiple class codes for one category for a project may affect reporting by class category; defining multiple class codes may cause your numbers to be included more than once.

6. Enter the Name, Description, and Effective Dates for each class code.

7. Save your work.

C: As part of a project template definition setup, you can choose which Quick Entry fields you want to define. Oracle Projects prompts you to enter information in these Quick Entry fields when you create a new project from a template. Choose Quick Entry fields for project information you want to enter (instead of accepting the template default) each time you create a project.

Order: Enter a number to indicate the sequence in which you want the Quick Entry fields to appear.

Field name: Choose the fields you want to appear in the Quick Entry window when you create a new project.

Specification: You enter a specification for the following field names:

Key Member: Select the project role type to use when creating the key member

Classification: Select the class category to use when creating the classification

Customer Name: Select the customer relationship to use when creating the project customer

Prompt: You can enter a field name that is different from the predefined field name to display when you use Quick Entry.

Required: Choose whether you want to require entry for the Quick Entry field.

Oracle Projects uses the following expenditure type classes to process non-labor project costs:

* Usages - Asset usage costs are interfaced to Oracle General Ledger.

* Supplier Invoices - Oracle Payables supplier invoices are interfaced from Oracle Payables to Oracle Projects.

* Miscellaneous Transaction - Miscellaneous Transactions are used to track miscellaneous project costs. This expenditure type class is similar to usages. The difference is that, for miscellaneous transactions expenditure items, you are not required to specify a non-labor resource or a non-labor resource organization, as you are for usage expenditure items. Miscellaneous transactions may be used for the following costs:

Fixed assets depreciation

Allocations

Interest charges

* Burden Transaction - Burden transactions track burden costs that are calculated in an external system or calculated as separate, summarized transactions. These costs are created as a separate expenditure item that has a burdened cost amount, but has a quantity and raw cost value of zero. Burden transactions are interfaced to Oracle General Ledger. As with any other transaction in Oracle Projects, you can adjust and capitalize burden transactions, or accrue revenue or generate invoices for these transactions.

* Work In Process - This expenditure type class is used for Project Manufacturing WIP transactions that are interfaced from Manufacturing to Oracle Projects. You can also use this expenditure type class when you import other manufacturing costs via Transaction Import or when you enter transactions via pre-approved batch entry.

C: The multi-currency billing option can be set both at the operating unit level and at the project level. To enter agreements and rate schedules in any currency for a project, you must enable the multi-currency billing functionality for the operating unit. To enter events in any currency for a project, you can enable the functionality at the project level only. This value defaults from the project template You can override the default value for an individual project template or project.

Note:

Oracle Projects gives you the option to bill in a global environment when the multi-currency billing is enabled for an operating unit and for a project. When multi-currency billing is enabled, you can:

* Enter agreements, bill rates, and events in any currency regardless of the project functional currency (B)

* Designate the project functional currency, project currency, or funding currency as the invoice processing currency for a project

* Designate the project functional currency and the invoice transaction currency as the revenue transaction currency

* Define currency conversion attributes for converting revenue and invoicing amounts to the project currency, project functional currency, and funding currency

* Define currency conversion attributes for converting funding amounts to the project functional currency, and the project currency

* Define a default invoice currency for a project customer that is different from the project functional currency and assign conversion attributes for deriving revenue in this currency

Pre-approved expenditures are timecards, expense reports (D), usage logs, miscellaneous transactions (E), burden transactions (A), inventory transactions, and work in process transactions usually completed on paper and approved by a supervisor. You enter pre-approved expenditures into Oracle Projects in batch mode, generally on a weekly basis. After you enter the batches into the system, you submit them for review and then release them for cost distribution.