Oracle 1Z0-511 Exam Questions

Note:

* Allow Revenue Budget Entry. Indicates if you allow entry of revenue budget types. You may choose to not allow entry of revenue budgets for indirect or capital projects. You must enter a revenue budget for a contract project before it can accrue revenue and be billed.

1. If you enable the Project Task Owning Organization classification, you must also specify the additional organization information for the classification as follows:

a. Place your cursor on the Project Task Owning Organization classification.

b. Select the Others button.

c. In the Additional Organization Information window, place your cursor in the Project Type Class Information field.

d. In the Project Type Class Information window, enter information for the following fields:

Allow Entry Of Indirect Projects: Select Yes from if you want this organization to own indirect projects.

Allow Entry of Capital Projects: Select Yes from if you want this organization to own capital projects.

Allow Entry of Contract Projects: You must select Yes.

Note: You must select Yes, even though you cannot create contract projects in Oracle Grants Accounting. Oracle Grants Accounting uses contract projects to process revenue and invoices for awards. Oracle Grants Accounting uses an underlying award project to process revenue and invoices. The award project is a contract class project.

e. In the Project Type Class Information window, select the OK button.

f. In the Additional Organization Information window, select the OK button.

g. In the Forms dialog box that asks you if you want to save the changes you have made, select the Yes button to save your work.

Job Assignment Overrides

You can override both an employee's job assignment and an employee's billing title for this project or lowest level task.

When you override an employee's job assignment, the new job assignment determines bill rates for the employee's billing on this project or lowest task (if this task uses job bill rates). You can choose any active job in the Oracle Applications database.

When you override an employee's primary billing title, the new billing title appears on future invoices for this employee's billing (if this project's labor invoice format displays an employee billing title).

Any job assignment override you enter for this project or lowest task takes precedence over any project job assignment override.

1. If you enable the Project Task Owning Organization classification, you must also specify the additional organization information for the classification as follows:

a. Place your cursor on the Project Task Owning Organization classification.

b. Select the Others button.

c. In the Additional Organization Information window, place your cursor in the Project Type Class Information field.

d. In the Project Type Class Information window, enter information for the following fields:

Allow Entry Of Indirect Projects: Select Yes from if you want this organization to own indirect projects.

Allow Entry of Capital Projects: Select Yes from if you want this organization to own capital projects.

Allow Entry of Contract Projects: You must select Yes.

Note: You must select Yes, even though you cannot create contract projects in Oracle Grants Accounting. Oracle Grants Accounting uses contract projects to process revenue and invoices for awards. Oracle Grants Accounting uses an underlying award project to process revenue and invoices. The award project is a contract class project.

e. In the Project Type Class Information window, select the OK button.

f. In the Additional Organization Information window, select the OK button.

g. In the Forms dialog box that asks you if you want to save the changes you have made, select the Yes button to save your work.

The following activities take place as part of the expenditures process flow for labor costs:

1. Run the process PRC: Distribute Labor Costs. This process calculates the raw and burden cost components for labor cost expenditure items. It also uses AutoAccounting to determine the default debit account for each expenditure item.

2. Run the process PRC: Generate Cost Accounting Events. This process uses AutoAccounting to determine the default credit account for each expenditure item. It also generates accounting events for distributed transactions. You can optionally select Labor Cost as the process category to limit the process to labor costs.

3. Run the process PRC: Create Accounting. This process creates subledger journal entries for eligible accounting events. You can run the process in either draft or final mode. You can optionally select Labor Cost as the process category to limit the process to labor cost accounting events. Optionally, the process can post journal entries in Oracle General Ledger.

If you define your own detailed accounting rules in Oracle Subledger Accounting, then Oracle Subledger Accounting overwrites default accounts, or individual segments of accounts, that Oracle Projects derives using AutoAccounting.

4. Run the process PRC: Transfer Journal Entries to GL. When you run the process PRC: Create Accounting, if you select No for the parameter Transfer to GL, then you run the process PRC: Transfer Journal Entries to GL to transfer the final subledger journal entries from Oracle Subledger Accounting to Oracle General Ledger. You can optionally select Labor Cost as the process category to limit the process to labor cost accounting events. Optionally, the process can post journal entries in Oracle General Ledger.

5. Run Journal Import in Oracle General Ledger. (optional) This process brings the final accounting entries from Oracle Subledger Accounting into Oracle General Ledger.