Oracle Exam 1Z0-342 Topic 5 Question 87 Discussion

Actual exam question for Oracle's 1Z0-342 exam

Question #: 87
Topic #: 5

Your client is attempting to track taxes for certain voucher pay Items; however, the tax information details for the accounts are not being created.

Which two items will you have your client correct?

AThe client is updating the Track Taxes field on the voucher GL Distribution to a value of 2.

BThe client is populating the taxable amount field when manually creating vouchers, to track taxes.
The gross amount field should be populated to allow the system to calculate and track the taxes.

CThe client is using tax explanation codes ST and VT that are only valid for invoices and not vouchers.

DThe client is reviewing information in the F0018R table; allocated tax amounts from the F0911 reside in the F0911 table.

EThe general ledger accounts Input on the GL Distribution form are not set up as taxable.

Show Suggested Answer

Suggested Answer: A, B

by Gladys at Mar 06, 2024, 08:57 PM

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Lili

1 months ago

Ah, the good old taxable GL accounts. Option E is likely the culprit. Time to set those up properly.

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Zona

4 days ago

Once we update the GL accounts to be taxable, we should see the tax information details being created.

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Rebeca

14 days ago

I agree, setting up the GL accounts as taxable should solve the problem.

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Felix

23 days ago

Yes, option E seems to be the issue. Let's make sure those GL accounts are set up correctly.

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Marilynn

2 months ago

Haha, the client is really digging through the wrong table. Option D is way off base.

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Justine

10 days ago

C) The client is using tax explanation codes ST and VT that are only valid for invoices and not vouchers.

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Vilma

13 days ago

B) The client is populating the taxable amount field when manually creating vouchers, to track taxes. The gross amount field should be populated to allow the system to calculate and track the taxes.

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Nakita

2 months ago

A) The client is updating the Track Taxes field on the voucher GL Distribution to a value of 2.

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Valentine

2 months ago

Using the wrong tax explanation codes is a common mistake. Option C seems to be the issue here.

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Dorinda

1 months ago

Once they correct those issues, tracking taxes for voucher pay items should work correctly.

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Gerald

1 months ago

They should also check if the general ledger accounts on the GL Distribution form are set up as taxable.

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Ma

2 months ago

Yes, that could be the problem. The client needs to make sure they are using the correct tax explanation codes for vouchers.

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Jody

2 months ago

I think the issue might be with using tax explanation codes ST and VT, which are only valid for invoices.

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Tandra

2 months ago

Populating the taxable amount field and the gross amount field is the way to go, according to Option B. Sounds like the client is on the right track.

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Timothy

2 months ago

The client seems to be having trouble with the Track Taxes field on the voucher GL Distribution. Option A is definitely not the right solution.

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Lezlie

1 months ago

B) The client is populating the taxable amount field when manually creating vouchers, to track taxes. The gross amount field should be populated to allow the system to calculate and track the taxes.

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