Oracle Accounts Receivable (AR) Interview Questions and Answers

1 :: Explain Accounting for invoice in Advance and Arrears?

Accointing 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 arrear

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 arrear)

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2 :: What is the use of Transaction Flexfield in Autoinvoice?

Transaction Flexfield actually identifies the the uniqueness among the Multiple lines of a single Invoice.

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3 :: 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.

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4 :: What are Different types of transactions in AR?

I know 6 of them in total

1) Charge back

2) Credit memo

3) Debit memo

4) Invoice

5) Guarantee

6) Deposit

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5 :: How many reporting currencies can be attached to Primary Set of Books?

For a given currency or primary SOB we can define maximum of 8 reporting SOBs.

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