1⟩ What is the balance of an invoice derived?
Use application rule set to control how Receivable will reduce the balance due of open debit items when you apply payments.
Deposit Account
Home Business and Economy Deposit Account
“Deposit Account Frequently Asked Questions in various Deposit Account Interviews asked by the interviewer. So learn Deposit Account with the help of this Deposit Account Interview questions and answers guide and feel free to comment as your suggestions, questions and answers on any Deposit Account Interview Question or answer by the comment feature available on the page.”
27 Deposit Account Questions And Answers
2⟩ What are Different types of transactions in account receivables?
1) Charge back
2) Credit memo
3) Debit memo
4) Invoice
5) Guarantee
6) Deposit
3⟩ Explain MRC and what is its use?
Multiple Reporting Currencies is a unique set of features embedded in Oracle Apps that allows you to maintain and report accounting records at the transaction level in more than one functional currency.
4⟩ Explain the use of Transaction Flexfield in Autoinvoice?
Transaction Flexfield actually identifies the the uniqueness among the Multiple lines of a single Invoice.
5⟩ What is Accounting for invoice in Advance and Arrears?
Accounting for invoice in advance
a) Receivable A/c .....................Dr.
To Unearned revenue a/c
(when we raise the invoice with invoicing rule as advance)
b) Unearned Revenue A/c .............. Dr.
To Revenue A/c
(when we receive the payment, the number of journal entry (b) is depend upon the accounting rules which can be fixed or variable)
Accounting for invoice in arrears
a) Unbilled receivable a/c ....................Dr.
To Revenue a/c
(when we receive the payment of unbilled invoice, the number of journal entry (a) is depend upon the accounting rules which can be fixed or variable))
b) Receivable a/c .........................Dr.
To Unbilled receivable a/c
(when we raise the invoice, with invoicing rule arrears)
6⟩ Explain What are value sets?
Valuesets are collection of set of Values.
There are six types of value sets available in Oracle Apps.
1) Dependent.
2) Independent.
3) Special.
4) None.
5) Table.
6) Pair.
7⟩ Can you tell me how to open a long term deposit account?
First, you need to have a current account, a savings account or a demand deposit account. Then you should have sufficient balance in that main account.
8⟩ What is Deposit Account?
A savings account in which the deposit is held for a fixed term or in which withdrawals can be made only after giving notice or with loss of interest.
Deposit a/c means particular sum we can retain with bank with interest or without interest. Whenever we need money we can withdraw it.
Or
Any sum retain with owner for lease or rent agreement. whenever our agreement end. We received that amount it calls deposit.
9⟩ Which currencies you can use to open long term fixed deposit accounts?
Long Term Fixed Deposit account can be open in Khmer Riel, US Dollar or Thai Baht.
10⟩ List some benefits of the long term fixed deposit?
It benefits you as follows:
☛ Financially secure and earn higher interest rate.
☛ Receive a certificate which can be used as collateral if you wish to apply for short term loan with any bank.
11⟩ What is main tables involved in AR, and what is the data stored in them?
RA_BATCHES_ALL
- INFORMATION ABOUT TRANSACTION BATCHES
RA_CUSTOMER_TRX_ALL
- HEADER INFORMATION ABOUT TRANSACTION
RA_CUSTOMER_TRX_LINES_ALL
- LINES INFORMATION ABOUT TRANSACTION
RA_CUST_TRX_LINE_GL_DIST_ALL
- DISTRIBUTION INFORMATION ABOUT TRANSACTIONS
RA_CUST_TRX_LINE_SALESREPS_ALL
- SALES REPS OF TRANSACTIONS INFORMATION
AR_PAYMENT_SCHDULES_ALL
- INFORMATION ABOUT PAYMENT SCHDULES
AR_APPLICATION_PAYABLES_ALL
RA_INTERFACE_ERRORS
- ERRORS IN AUTO INVOCIE INTERFACE DATA
RA_INTERFACE_LINES_ALL
- USE THIS TABLE TO ENTER HEADER AND LINES INFORMATION IN AUTO INVOICE INTERFACE PROGRAM
RA_INTERFACE_DISTRIBUTIONS_ALL
- DISTRIBUTION TABLE IN AUTO INVOICE INTERFACE PROGRAM
RA_INTERFACE_SALESCREDITS_ALL
- SALESCREDITS INFORMATION TABLE IN AUTO INVOICE INTERFACE PROGRAM
12⟩ What is HZ_ in customer tables?
All tables that starts with HZ_ are related to the Trading Community Architechture (TCA). In these table we can find all the information about the Customers, Organization, Person's.
From release 11i TCA came into picture in Accounts Recievable module, where oracle has grouped all the customer information at one place. Most important tables in TCA are HZ_PARTIES, HZ_CUST_ACCOUNTS_ALL, HZ_CUST_ACCT_SITES_ALL, HZ_CUST_SITE_USES_ALL, HZ_LOCATIONS, HZ_PARTY_SITES, HZ_PARTY_SITE_USES, HZ_CONTACT_POINTS. few to name.
13⟩ What are the things which are included in cash and cash equivalent?
Cash and cash equivalents may include but are not limited to:
☛ Currency
☛ Checks received but not yet deposited
☛ Checking accounts
☛ Petty cash
☛ Savings accounts
☛ Money market accounts
☛ Short-term, highly liquid investments with a maturity of three months
☛ Less at the time of purchase.
14⟩ Do you know what is long term fixed deposit?
Long term fixed deposit is an agreement between a customer and the bank for the fixed deposit from 24 months with a higher interest rate.
15⟩ Please tell me what is cash and cash equivalent?
Cash and cash equivalents are balance sheet items that represent either physical money on hand or in bank accounts and other assets that can be easily converted to cash without a significant loss in their value.
16⟩ Explain the importance of Batch Source set up in AR?
Batch sources control the standard transaction type assigned to a transaction and determine whether Receivables automatically numbers your transactions and transaction batches. You can define two types of transaction batch sources:
Manual
Imported
17⟩ If you certificate is lost or damaged, can you request for the new one?
Yes, you can but with service charge.
18⟩ Can you withdraw cash before the due date in long term fixed deposit?
Yes, you can and you only have to pay interest earned back to the bank. If you want to close the account before the due date, you have to bring along the certificate.
19⟩ How will you be able to access the payments that are deposited into my bank account?
You access and use these funds the same way you access and use other funds in your bank account.
20⟩ Tell me what is direct deposit?
With direct deposit, your subsidy and board payments are electronically deposited into your bank account.
