Oracle Financials Cloud: Accounts Payable 2017 Implementation Essentials — Question 4

During your business trip to the UK, you took a taxi ride and paid for it by using your personal Visa credit card. While entering your expenses, you get a warning that a different conversion rate was applied to the taxi expense by Visa that the one used by your company.
How do you handle this situation?

Answer options

• A. Do not enter the taxi expense and call your Finance Department so that they can make changes in the conversion rate settings and you do not violate the allowable limit.
• B. Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement.
• C. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.
• D. Use the corporate-defined conversion rate even if it means you will not be reimbursed fully.

Correct answer: A

Explanation

The correct response is A, as it prioritizes compliance with company policies by seeking adjustments from the Finance Department before entering the expense. Option B is incorrect because contacting Visa won't solve the issue with company policy. Option C is not advisable since overwriting the conversion rate without proper approval could lead to discrepancies. Option D is also wrong because it involves accepting a loss in reimbursement, which is not necessary when the proper procedure can be followed.