Oracle Exam 1Z0-511 Topic 11 Question 24 Discussion

Actual exam question for Oracle's 1Z0-511 exam

Question #: 24
Topic #: 11

A contractor is engaged to carry out a statement of work by a customer. The contract is fixed price, and milestone payments will be made based on the individual completion of agreed deliverables. The contract specifies that 10% of any invoice totals must be withheld. The exception to this rule is that if certain deliverables are met ahead of the agreed schedule, then the full amount can be invoiced. How would this scenario be set up in Oracle Projects?

ACustomer Retention Billing is implemented with a Withholding Term of Expenditure Category.

B10% of project costs is set with a billing hold (as required) in Expenditure Inquiry.

CA task is used to collect costs that are to be withholding and the task is set to non-billable as required.

DCustomer Retention Billing is implemented with a Withholding Term based on Event Types.

EA customer bill split is implemented to send 10% of all invoiced costs to a dummy customer.

Show Suggested Answer

Suggested Answer: A

* Defining Retention Terms

Retention Terms determine how amounts are withheld from project invoices and how the withheld amounts are billed to the project customer. Retention terms include:

Withholding Terms

Withholding Terms by Expenditure Category

Withholding Terms by Event Revenue Category

Billing Terms

* Witholding Terms

These terms apply to all sources of project invoice amounts for the specified project or top task. For each term, you can define a withholding percentage or amount. Optionally, a threshold amount can be defined to determine the maximum amount to be withheld per term.

by Gregoria at May 08, 2022, 03:14 AM

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