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Oracle Financials India Localization Interview Questions and Answers
Q1) How can you use the function of supplier merge efficiently within the localization process?
Ans: You can opt for setting up the supplier additional information screen for the new supplier. After the completion of set up, you can choose for running the Run Supplier Merge. On the other hand, if you do not perform the tasks as mentioned above, the Supplier Merge Report would end with an error.
Q2) What is your view about India Localization taxes?
Ans: The Workflow engine usually generates the notifications relation to India Localization and moreover, the India localization summaries of taxes do not show up on the notification screen. You can view the Purchase Order with a decent Tax Amount command run.
Q3) Denote the symbol of DFF in the forms?
Ans: The square bracket represents it.
Q4) Define the structure of KFF in the fields of accounting?
Ans: The structure of KFF in the areas of accounting is as follows:
3. Future Use
5. Cost Center
Q5) Illustrate the number of segments that are present in AFF?
Ans: There exist a maximum number of 30 sectors in AFF. On the other hand, the minimum number of division is two present in AFF.
Q6) What do you mean by flexfield qualifiers?
Ans: It is vital to note that the flexfield qualifiers are used to identify the segments. Here is the list of flexfield qualifiers that can be useful in Oracle Financial India implementation.
1. Segment Qualifier related to Natural Account
2. Segment Qualifier pertaining to Intercompany
3. Segment Qualifier related to Cost Center
4. Segment Qualifier pertaining to Balancing
Q7) What is the number of KFF present in GL, AP, and AR?
Ans: Here is the list of KFF present in the following areas. It comprises of module KFF, AP with no KFF, GL Accounting KFF, territory flexfield and AR-Sales tax Location FF.
Q8) Illustrate the meaning of flex field and highlight the various types of flexfield that is present in Oracle Financial architecture?
Ans: Flex Field is used to capture information of the organization's financial performance. There are two types of flexfields that are present in an organization's economic prospect. One is KFF, and the other one is DFF.
Q9) How can you differentiate DFF and KFF?
Ans: DFF is being utilized to capture additional information and is being stored in the attribute column. On the other hand, KFF is a unique identifier which is stored in the could related to a segment.
Q10) Illustrate appropriately on the meaning of Dynamic Insertions?
Ans: With the help of Dynamic Insertions, you can facilitate the creation of code combinations at the runtime.
Q11) Name the table in which the code combinations are stored?
Q12) Define what is set of books and name the table in which the table set of paper is being stored?
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Ans: The set of books is a financial report entity which comprises of three C. The tables are in the form of currency, calendar, and chart of accounts. The set of books are usually stored in
Q13) Name the various tables in GL?
GL_PERIOD_STATUES GL_SETS_OF_BOOKS GL_INTERFACE GL_PERIOD_STATUES GL_BALANCES GL_JE_BATCHES GL_JE_LINES GL_JE_HEADERS
Q14) Name the table in which the information related to table supplier is stored?
Ans: It is important to note that the supplier information is usually found in the following tables.
PO_VENDOR_CONTACTS PO_VENDORS PO_VENDOR_SITES_ALL
Q15) Illustrate the difference between organization_id and org_id?
is for inventory organization, and the
is for the operating unit.
Q16) Shed light on the possibilities of audit in Oracle Financial Architecture?
Ans: There are several functionalities in the applications related to Oracle which would allow you to audit the permissions that are granted to the access users so that they can access various forms. One can also select a different user id from the friend user permission tab.
You can facilitate that by selecting created by from the vendor sites of all vendors related to servers. Optionally, one can play with the user and the responsibility tables to view who has permission to access all the responsibilities.
One needs to implement on the PO user and the other kind of responsibilities that have access to the form to enter the list of vendors. On the other hand, it is important to note that if a user does not have access to responsibility and liability tab of the server so that they can list down the name of the vendors, one cannot enter or validate the signature of the vendors using the login function.
Quite interestingly, one should also note that the PO vendors are situated at a generic level, and the pro vendor sites are always situated at an org id level. They are usually separated by the columns that would allow the individuals to update the data.
Q17) What do you mean by the generation of the asset in Oracle Financial architecture?
Ans: In the system of Architecture related to Oracle Financial, the asset numbers are generated automatically one by one. However, at times, it skips the sequence at many times. You can cite an example in this context. Let's say we have closed a period with an asset number that is assigned a number of 329. It usually denotes that one has missed asset number 327 and 329.
Quite interestingly, in a majority of times, this thing can take place even without the proper closure of a period. Now the question arises how to fix this problematic working process. One needs to check the distribution table history table to witness that if there are any missing gaps and then you can trace it to the area where the assets are created. You can do it in PA areas or FA areas too.
Q18) Shed light on the differences between journal entries and customer entries?
Ans: It is vital to note that in Oracle Financial Architecture, there may arise various situations where one needs to have a more definite mindset about the differences between entries related to journals and customers. For instance, there may be a situation where a receipt is made, and the operator has changed it to AR (1070). And it has debited to a value which is apart from a specified amount. Moreover, the balance of the customer is usually increased to depict that the customer owes money.
However, the entries related to the journal for 1070 is still at 0. On the other hand, one should also assume that the data list inputs for the client have to stay at the same value. Hence, in this situation, the user should have proper knowledge not to repeat this type of fault. However, one should always take into account the fact that the values have expired from the period and frame and hence the receipt is useless to the customer. Moreover, there are various categories of faulty database omissions.
The situation that is mentioned above is the factors why one should not opt for altering the receipts to bring a new change. Quite interestingly, this thing can take place in the situation when the JE is changed as it is transferable to GL.
By opting for altering the said receipts, you can put obvious difficulties out of the synchronization process. Furthermore, you need to set the journal source for receivables in order so that the command which has been upgraded is not enabled correctly. You can instead use CM and DM functionalities so that you can adjust and create the new receipts.
Q19) How can you facilitate the creation of a new GL module in the same machine?
Ans: You need to facilitate the creation of a new set of a database in Oracle Finance. Moreover, the program related to the financial architecture can also be changed as per the requirements of the organization. With the advent of economic data on a regular scale, it has become imperative for the potential agencies to take into account the strata of customer relationship management properly.
You may also be asked that whether you can copy the volume of data and program. You may also be asked how to make a new installation in the GL module. However, always be clear that to make a new series of a database, you need to install the program related to Oracle Finance on the same server.
Moreover, you would also need to create a new instance. Quite interestingly, you can create the original example on the same machine.
Q20) Illustrate on the setup for excising the number generation related to invoices. Mention the name of the steps that are involved in the process?
Ans: The configuration related to the creation of excise receipt generation of number is as follows:
1. Creating order types with headers and lines
2. Creating a bond register to free up the cache space on the server
3. Creating a transaction type related to the receipts
4. Creating a transaction type for the source in revenue
These are the following steps that are associated with number generation related to invoices and receipts.
- In generation related to excise, one can select the category of transaction types which are mentioned in LOV. LOV may also include order, invoice, vendor’s receipts and receipts related to export and domestic.
- In the invoice and order type, one can also provide the kind of transaction and source. One can also input the other details on the guidelines of LOV which is being depicted in step 1. In this context, it is vital to note that if you have opted to select export, domestic or RMA, then the value in step 2. If you can choose the invoice, then the value in step 2 is also a transaction source.
- One can also assign the start number of the receipt by coupling it with the prefix.
Q21) Illustrate on the setups related to TCS in Oracle Financial Architecture?
1. Categories related to taxes
2. Categories related to items
3. Classification pertaining to the topics
5. Types related to classification
6. Class concerning receipts
7. Registration-related to the tax regime
8. Calendar related to charges
9. Additional information related to customer
10. Other information pertaining to tax authority
11. Information related to customer
Q22) Define Bond Register in the context of Oracle Financial Management?
Ans: Bond Register is the calculation of ED and various updates that are connected to it and are usually based on the setup that is manufactured in the bond register that lies in the defined category. Before opting to make this configuration, you need to make sure that you set the transaction sources and the order types. Quite interestingly, the transactions related to excise are classified into the following divisions:
- Export under the influence of bond
- Excise with shipping in exports
- Excise without domestic TDS valuations in exports
- Excise with internal TDS valuations
Q23) What are the possible reasons for a shipment in which excise number is not generated? Cite all the primary reasons?
Ans: The following could be the reasons behind the absence of an invoice number in an excise parcel.
1. Absence of the additional information related to the customer
2. Registration about bond
3. Sub-inventory related to relationships
4. Other information related to the organization
5. Inappropriate data or misleading information as found on receipts