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Last Updated: Oct 19, 2026

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Oracle 1z1-507 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Overview of Oracle Fusion Payables10%- Payables concepts and architecture
- Payables dashboard and work areas
Topic 2: Accounting, Period Close and Reporting15%- Manage accounting periods
- Run Payables reports and analytics
- Transfer to General Ledger
- Create accounting entries
Topic 3: Payments Processing20%- Stop and void payments
- Payment formats and bank integration
- Single payments and batch payments
- Create and manage payment process requests
Topic 4: Expense Reports Management10%- Audit and process expense reports
- Expense report approval workflow
- Enter and submit expense reports
Topic 5: Payables Setup and Configuration20%- Define payment terms and payment methods
- Set up supplier and supplier sites
- Configure tax and accounting rules
- Configure Payables system options
Topic 6: Invoice Processing25%- Enter and validate invoices
- iSupplier Portal invoice entry
- Invoice matching and holds resolution
- Prepayments and credit memos

Oracle Fusion Financials 11g Accounts Payable Essentials Sample Questions:

Question #1

Which three tasks are performed during the expense report reimbursement process?

  • A. Attachment of receipts supporting expense reports.
  • B. Approval of expense report.
  • C. Creation of payables documents.
  • D. Defining expense policies and rules.
  • E. Transfer of data to the payables open interface.
Reveal Solution  Discussion  0

Correct Answer: A,B,C  🗳️

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Question #2

Which section of the Payment Dashboard lists all the processes submitted within the last 72 hours?

  • A. Schedule Requests
  • B. Process Monitor
  • C. Payment Process requests
  • D. Stop Payment Requests
  • E. Supplier Sites on Payment Hold
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #3

An employee submits an expense report, but before it is processed the employee is terminated. At which level is the option Processing Days Allowed After Termination configured?

  • A. Define expenses configuration
  • B. Employee
  • C. Expense template and type set up
  • D. Project attributes
  • E. Business unit
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Question #4

Which three statements are true when a prepayment is applied to an invoice by selecting the option Include on Invoice?

  • A. The unpaid invoice amount is reduced by the amount of the prepayment application.
  • B. The prepayment amount available for application is reduced.
  • C. The unpaid invoice amount is not affected by the prepayment application.
  • D. The prepayment amount paid is NOT updated In the Installment tab of invoice.
  • E. The invoice is updated to reflect the amount paid by prepayment in the Installments tab.
Reveal Solution  Discussion  0

Correct Answer: A,B,D  🗳️

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Question #5

A Payment Process Request is issued with a payment type of Manual.
Which two payment statuses will allow the manual payment to be voided?

  • A. Cleared
  • B. Payment file build
  • C. Pending proposed payment review
  • D. Issued
  • E. Negotiable
Reveal Solution  Discussion  0

Correct Answer: C,E  🗳️

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