Oracle Fusion Financials Interview Questions and Answers

Tech Leads IT

Sun, 03 Dec 2023

We are a group of professional trainers working on Oracle Fusion Applications for the last 20 years and we have prepared below Oracle Fusion Financials Training Interview Questions to the best of our knowledge, we will keep on adding new questions to our blogs on all the modules, we encourage you to refer/read to the new topics will be adding in the future.

We have prepared Oracle fusion financials Accounts Payable module interview questions and below is the list, if any corrections are required please post your feedback in the comments sections.

Top 20 Oracle Fusion Financials Interview Questions and Answers

1. How many types of flexfields are available in Oracle Fusion

Ans: All

• Key
• Descriptive
• Extensible 

 2. Where do we create the Chart of accounts in Fusion

Ans: Accounting flexfield

3. What is the difference between Key and Descriptive flexfield

Ans: KFF

• Unique identifier
• Stored in segment Column

         DFF

• Is used to capture additional information
• Stored in attribute Column

4. Can we create/update currency manually in fusion

Ans: No, we cannot update/Create manually. We can load only though Create daily rates ADFDI sheet

5. What is the use of accrual in Payables

Ans: Upto invoice is created, liability is recorded in Exp AP Accrual account or Inv AP Accrual Account. When invoice is matched against a PO/Receipt, AP Accrual is relieved and Liability will get accrued in Payables. Once invoice is paid, liability is relieved.Hence in invoice, the accounting entries would be

During Invoice entry

APAccrualA/C-Dr (Expense A/C in case of Expense Reports)

LiabilityA/C-Cr

During Payment,

Liability A/C - Dr

Bank/Cash A/C – Cr

6. What are the major key changes in Fusion GL when compare to EBSR12

Ans:

·         Chart of account Structure instance

·         Primary, Secondary and Third balancing segments

·         Hyperion tool  FRS replaces FSG

7. What is the setup from GL module to get the COA segments details to FRS

Ans: BI Enables option at Chart of accounts structure instance

8. Name 4 dimensions in ESSBASE Cube other than Chart of account segments

Ans:

• Ledger
• Currency type
• Period type
• Currency

9. If entry is coming from sub ledger module, what are the possibilities it will not balance with GL

Ans: Manual entries, Data not posted to GL or any data corruption

10. Can we update journal from subledgers?

Ans: Yes by disabling option freeze journal at Journal source

11. User was not able to drill down from GL journal to subledger transaction

Ans: At journal source level, we need to enable import transaction reference

12. When we need Cost center segment label to be enabled

Ans: When you are using Fixed assets and Projects

13. Can we make payment in different currency than invoice currency

Ans: Yes, we can change currency at the time of payment.

14. Basic setups to complete Payment

Ans:

• Bank, Bank branch and Bank Account
• Payment documents
• Payment process profile
• Payment format
• Payment process request template(Optional)

15. Roles and configuration to create the suppliers

Ans: 

• Business unit
• Procurement Agent
• Supplier manager role
• Data access for supplier role

16. Can we run reconcile Payables to ledger reconciliation

Ans: No, we need to run Prepare Payables to General Ledger Reconciliation job before running the Payables to ledger reconciliation

17. Most common master data migration process in fusion application

Ans: Most common option is using FBDI approach

18. Can we create a customer account/Site using a common Address set?

Ans: No, we cannot. We need either use the Enterprise set or custom RDS

19. How to derive the revenue account from Inventory item

Ans: At auto account, we need to select a standard line to get the revenue account from an inventory Items sales account using the order orchestration process

20. Can we create self-approval limits for Receipt write off

Ans: No, You cannot. We need to create from a different user.

We also discuss these interview questions during our Oracle Fusion Financials Online Training sessions and will make students to be ready to face the interview from beginner to experienced level.

All The Best,

Tech Leads IT