RELIABLE 1Z0-1055-24 EXAM REVIEW, NEW 1Z0-1055-24 TEST EXPERIENCE

Reliable 1Z0-1055-24 Exam Review, New 1Z0-1055-24 Test Experience

Reliable 1Z0-1055-24 Exam Review, New 1Z0-1055-24 Test Experience

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At Prep4pass, we are committed to providing candidates with the best possible Oracle Financials Cloud: Payables 2024 Implementation Professional (1Z0-1055-24) practice material to help them succeed in the Building Oracle Financials Cloud: Payables 2024 Implementation Professional (1Z0-1055-24) exam. With our real 1Z0-1055-24 exam questions in Oracle Financials Cloud: Payables 2024 Implementation Professional (1Z0-1055-24) PDF file, customers can be confident that they are getting the best possible Oracle Financials Cloud: Payables 2024 Implementation Professional (1Z0-1055-24) preparation material for quick preparation. The Oracle 1Z0-1055-24 pdf questions are portable and you can also take their print.

Oracle 1Z0-1055-24 Exam Syllabus Topics:

TopicDetails
Topic 1
  • Using Reporting and Managing Period Close: This section measures the understanding of Financial Analysts in utilizing reporting tools and managing period-end activities1. It includes explaining Oracle Transactional Business Intelligence (OTBI), using Business Intelligence Publisher (BIP) Reports, using the Payables to Ledger Reconciliation Report, and explaining the close process1. These skills are essential for monitoring financial performance and ensuring accurate period-end closing.
Topic 2
  • Using AI Capabilities in Payables: This section measures the skills of AI Implementation Specialists in leveraging AI within Oracle Payables1. It covers understanding how to leverage Oracle’s pervasive AI approach in Oracle Cloud Applications, describing the integration and application of AI within the Oracle ERP ecosystem, and using AI to automate intelligent account combination defaulting1. These skills ensure the effective utilization of AI to improve efficiency and accuracy in payables processes.
Topic 3
  • Processing Payments: This section assesses the skills of Process Owners and focuses on creating and processing payments, along with explaining bank reconciliations within Oracle Financials Cloud156. Proficiency in these areas ensures accurate and timely payment processing, along with reconciliation for financial accuracy.

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Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions (Q46-Q51):

NEW QUESTION # 46
You're a Payables supervisor, and your team has been struggling to keep up with the high volume of incomplete invoices coming through the Oracle Cloud Supplier Portal, causing delays in timely period closures. As a Payables supervisor, you have the ability to identify and then cancel incomplete supplier portal invoices without having to contact suppliers.
Which two options are available for the Payables Supervisor to identify incomplete supplier portal invoices for cancellation?

  • A. Query the Payables Invoice Register
  • B. Run the Period Invoice Audit Report
  • C. Query invoices on the Manage Invoices page
  • D. Run the Period Close Exception Report

Answer: C,D

Explanation:
Comprehensive and Detailed In-Depth Explanation:
Managing incomplete invoices is crucial to ensure a smooth period close process in Oracle Financials Cloud. As a Payables Supervisor, you have specific tools and reports at your disposal to identify and address these incomplete supplier portal invoices:
Query Invoices on the Manage Invoices Page (Option C):
Purpose: The Manage Invoices page allows you to search and view all invoices within the system. By applying filters such as status (e.g., "Incomplete") and source (e.g., "Supplier Portal"), you can identify invoices that are incomplete and originated from the supplier portal.
Action Steps:
Navigate to the Manage Invoices page.
Use the search filters to specify criteria:
Status: Set to "Incomplete".
Source: Set to "Supplier Portal".
Review the filtered list to identify invoices that require cancellation.
Reference:
Run the Period Close Exception Report (Option D):
Purpose: The Payables Period Close Exceptions Report provides details of transactions that prevent the Payables period from closing, including incomplete invoices. Running this report helps in identifying any such invoices that need attention before period closure.
Action Steps:
Navigate to the Scheduled Processes work area.
Submit the Payables Period Close Exceptions Report.
Review the report output to identify incomplete supplier portal invoices.
Options A (Query the Payables Invoice Register) and B (Run the Period Invoice Audit Report) are not specifically designed to identify incomplete invoices:
Payables Invoice Register: This report provides a list of invoices but does not specifically highlight incomplete ones.
Period Invoice Audit Report: This report focuses on auditing invoices for compliance and accuracy, not necessarily on their completion status.
Therefore, the most effective tools for identifying incomplete supplier portal invoices for cancellation are Option C: Query invoices on the Manage Invoices page and Option D: Run the Period Close Exception Report.


NEW QUESTION # 47
You are a global process owner at a large company that handles a heavy amount of expenses due to travel and entertainment reimbursements. Employees want to have a streamlined expense reimbursement process because they spend a lot of time submitting their expense reports. You are very excited to introduce them to Oracle's functionality allowing them to create expenses directly from emails that a user forwards with receipt attachments.
Which two options can you set the Expense Attachment Preference to, when configuring this functionality in the application?

  • A. Attach the invoice.
  • B. Attach the primary receipt from the email.
  • C. Attach custom email.
  • D. Attach the email.
  • E. Attach multiple receipts from the email.

Answer: B,D


NEW QUESTION # 48
Which reference data sharing method can you use for Payables Payment Terms when working with reference data sets in Payables?

  • A. Assignment to one set only; no common values allowed
  • B. Assignment to multiple sets with common values allowed
  • C. Assignment to multiple sets; no common values allowed

Answer: C

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Fusion Applications, reference data sharing (also known as SetID) enables organizations to share common configuration data across various organizational units, such as business units, without unnecessary duplication. This approach streamlines maintenance and ensures consistency of reference data across the enterprise.
Payment Terms in Oracle Payables define the conditions under which a company pays its suppliers. These terms can vary between business units based on factors like regional practices or supplier agreements. To accommodate this variability, Oracle Payables employs a specific reference data sharing method for Payment Terms.
Reference Data Sharing Methods:
* Assignment to One Set Only; No Common Values Allowed:
* Each reference data object instance is assigned to a single set exclusively.
* No sharing of values across multiple sets.
* Example: Asset Prorate Conventions are defined and assigned to only one reference data set.
* Assignment to One Set Only, with Common Values:
* Reference data objects can be assigned to one set, but there's a common set whose values are accessible to all business units.
* Example: Receivables Transaction Types are assigned to a common set that's available to all business units.
* Assignment to Multiple Sets; No Common Values Allowed:
* A reference data object instance can be assigned to multiple sets.
* There's no common set; each set operates independently.
* Example: Payables Payment Terms use this method, allowing each payment term to be assigned to one or more sets.
For Payables Payment Terms, the applicable method is "Assignment to multiple sets; no common values allowed." This means that each payment term can be associated with one or more reference data sets, but there's no overarching common set that includes all payment terms. This flexibility allows organizations to define payment terms specific to certain business units while also sharing others across multiple units as needed.
Practical Application:
* Shared Payment Terms: If multiple business units operate under similar payment conditions, a single payment term (e.g., "Net 30") can be assigned to multiple reference data sets corresponding to those units.
* Specific Payment Terms: For unique business units with distinct payment agreements, specific payment terms (e.g., "Net 15") can be created and assigned exclusively to the relevant reference data set.
This approach ensures that each business unit has access to the payment terms relevant to its operations without unnecessary proliferation of identical terms across the system.
References:
* Reference Data Sets and Sharing Methods
* Payment Terms


NEW QUESTION # 49
A Payables user creates a manual invoice, and a Withholding Tax Classification Code defaults on the invoice line when the invoice is saved. Where does this Withholding Tax Classification Code default from?

  • A. From the Party Tax Profile of the Third Party Site
  • B. From the Site Assignments of the Supplier Site (Correct Answer)
  • C. From the Ship-to Location selected on the invoice
  • D. From the Site Assignments of the Supplier Site

Answer: D


NEW QUESTION # 50
You need to issue an off-cycle, single payment for a supplier before the next scheduled payment run. The invoice you need to pay has been uploaded into the system, yet it is not available for selection on the Create Payment page.
Select two potential reasons for this:

  • A. The invoice is not yet due.
  • B. The payment supplier site you selected is different from the supplier site on the invoice.
  • C. The invoice is not validated.
  • D. The invoice is not accounted.

Answer: B,C

Explanation:
Comprehensive and Detailed In-Depth Explanation:
For an invoice to be available for payment processing in Oracle Payables, it must meet specific criteria. If an invoice is missing from the Create Payment page, the following could be the reasons:
* The Invoice is Not Validated (Option A):
* Explanation: Invoices must be validated to ensure data accuracy and compliance with business rules. If an invoice is not validated, it remains in an Incomplete status and is not available for payment.
* Resolution: Run the Invoice Validation process to validate the invoice. Once validated, it will appear in the Create Payment page for selection.
Reference: Oracle Payables Invoice Processing Guide
The Payment Supplier Site Selected Differs from the Supplier Site on the Invoice (Option C):
Explanation: Invoices are tied to a specific supplier site. If the supplier site selected when creating the payment does not match the supplier site on the invoice, the invoice will not be available for selection.
Resolution: Ensure that the supplier site selected on the Create Payment page matches the supplier site associated with the invoice.
Reference: Oracle Fusion Payables: Understanding Supplier Sites
Options B and D Analysis:
The Invoice is Not Yet Due (Option B):
While an invoice's due date impacts its eligibility for automatic payment processing (such as Payment Process Requests), it does not prevent an invoice from being selected manually for an off-cycle, single payment.
Verdict: Not a valid reason for invoice non-selection.
The Invoice is Not Accounted (Option D):
An invoice does not need to be accounted before payment; payment can be processed first, and accounting entries can be created afterward.
Verdict: Not a valid reason for invoice non-selection.
Thus, the correct answers are A. The invoice is not validated and C. The supplier site on the invoice does not match the supplier site selected during payment creation.


NEW QUESTION # 51
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