[Aug-2023] 1z0-1055-22 Dumps With 100% Verified Q&As - Pass Guarantee or Full Refund
Pass Oracle 1z0-1055-22 Exam With Practice Test Questions Dumps Bundle
The Oracle 1z0-1055-22 exam covers a range of topics, including supplier management, invoice processing, payment management, accounting, and reporting. The exam requires candidates to have a thorough understanding of the Oracle Financials Cloud: Payables 2022 solution, including its features and capabilities. The certification exam also requires candidates to have a strong understanding of financial processes and accounting principles, as these are essential to successfully implementing and configuring the Oracle Financials Cloud: Payables 2022 solution. Candidates who successfully pass the Oracle 1z0-1055-22 exam will demonstrate their expertise in implementing and configuring Oracle Financials Cloud: Payables 2022, which can help them advance their careers in financial management and accounting.
NEW QUESTION # 60
Identify two ways the invoice imaging solution works in the Cloud. (Choose two.)
- A. Customers cannot use invoice imaging in the Cloud.
- B. Customers ask suppliers to send electronic invoices.
- C. Customers scan and store the invoice images on-premise and attach them during invoice entry.
- D. Customers ask their suppliers to scan and email the invoice.
- E. Customers scan the invoice on-premise and email the images.
Answer: D,E
NEW QUESTION # 61
You have modified your tax setup and want to test the changes on actual Payables transactions. How do you validate before enabling for transaction?
- A. by changing the tax status to test and then entering a payables invoice
- B. by creating accounting in draft mode
- C. Oracle Transactional Business Intelligence (OTBI)
- D. by using Tax Simulator to test
- E. by creating a payable invoice, and by validating and reviewing the tax application
Answer: D
Explanation:
Run taxes from all applicable tax regimes against a sample transaction to verify that your tax configuration and tax rules were created and applied according to yourrequirements. You can either create a sample transaction within Tax Simulator or copy an existing transaction. The simulated tax calculations do not affect live data.
Note:The Tax Simulator is a tool for simulating the tax determination process in your tax setup. The Tax Simulator lets you preview the workings of your tax configuration before you perform tax calculations on live transactions in a subledger application. TheTax Simulator also allows you to test new tax configuration in conjunction with existing tax configuration to preview the resulting tax calculation. The Tax Simulator is a useful tool to identify the root cause when tax calculation is not what is expectedon live data.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006654AN226D8.htm
NEW QUESTION # 62
Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation report? (Choose three.)
- A. Natural Account
- B. Balancing Segment Value
- C. Legal Entity
- D. Supplier
- E. Business Unit
- F. Ledger Set
Answer: B,E,F
Explanation:
Typically General Ledger users are secured by data access sets. Data access sets use primary balancing segment values to secure access to ledgers, ledger sets, and portions of ledgers. Payables users are secured
by business units.
For the Payables to General Ledger Reconciliation report:
General Ledger users can see general ledger data for the balancing segment values in their data access set. General Ledger users can also see the Payables or Oracle Fusion Subledger Accounting data for all
business units linked to the ledger.
Payables users can see the Payables and Subledger Accounting data for business units in their security definition. Payables users can also see general ledger data for all balancing segment values in the ledger.
NEW QUESTION # 63
Identify three scenarios where you are not allowed to cancel an invoice. (Choose three.)
- A. The invoice is fully or partially paid.
- B. An accounting entry has been created for the invoice.
- C. The invoice is validated.
- D. Prepayments were applied to the invoice.
- E. The invoice was adjusted by a credit or a debit memo.
Answer: A,D,E
Explanation:
Why can't I cancel an invoice?
The invoice is:
Additional reasons thatyou can't cancel an invoice are as follows:
You can cancel any unapproved invoice, or an approved invoice that does not have anyeffective payments or posting holds.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011878.htm#FAPPP1011878
NEW QUESTION # 64
You use corporate cards with expenses and have implemented the Company Pay payment option. An employee incurred the following expenses.
What is the resulting payment amount made to the employee for these expenses?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: D
Explanation:
Company Pay: Your company pays the corporate card issuer for all transactions.
NEW QUESTION # 65
You are voiding a payment and have selected Cancel as the Invoice Action. After performing the void, you notice the invoice is not cancelled but has an Invoice Cancel hold on it.
What is reason for this?
- A. The invoice accounting date is not in the current open period.
- B. The invoice has been partially paid by another payment.
- C. The invoice is already on hold.
- D. The invoice date is not in the current open period.
Answer: B
NEW QUESTION # 66
You want your expense auditors to audit only expenses reports for specific business units. How do you do this?
- A. Assign the auditors' specific data roles for the corresponding business units.
- B. Create your own audit extension rules that correspond to the business unit.
- C. Make auditors the managersof the corresponding business unit to route expense reports properly.
- D. Create a custom duty role and assign the data roles to each auditor.
Answer: A
Explanation:
You can enable expense auditors to audit expense reports for specific business units by assigning them specific expense auditor data roles for the business units. For example,to allow an expense auditor to audit expense reports for the Vision Operations and Vision Services business units, assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles, respectively, to the expense auditor.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.htm
NEW QUESTION # 67
A Payables supervisor wants to apply a prepayment to an invoice.
Which combination of invoice and payment currencies allow the application of a prepayment to an invoice?
- A. Standard Invoice: Invoice Currency USD, Payment Currency CAD
Prepayment: Invoice Currency CAD, Payment Currency CAD - B. Standard Invoice: Invoice Currency CAD, Payment Currency GBP
Prepayment: Invoice Currency USD, Payment Currency AUD - C. Standard Invoice: Invoice Currency USD, Payment Currency GBP
Prepayment: Invoice Currency USD, Payment Currency AUD - D. Standard Invoice: Invoice Currency USD, Payment Currency USD
Prepayment: Invoice Currency CAD, Payment Currency CAD
Answer: C
Explanation:
You can pay a prepayment in a currency that's different from the invoice currency. To apply that prepayment to an invoice, the invoice must have the same invoice currency as the invoice currency of the prepayment.
NEW QUESTION # 68
Which two tools can you use to build layouts for BI Publisher reports? (Choose two.)
- A. Layout Editor
- B. BI Composer
- C. BI Answers
- D. Template Builder for Word
- E. Report Developer
Answer: A,E
Explanation:
Oracle BI Publisher report development requires specialist developer resources to build / modify the XML layout designs.
layout editor - Helps you to easily create report layouts directly in a web browser or with familiar desktop tools, such as Microsoft Word, Microsoft Excel, or Adobe Acrobat.
Reference:
https://dataterrain.com/advantages-of-oracle-bi-publisher/
NEW QUESTION # 69
In the implementation project, there is a requirement to add new transactional attributes to the Expense Approver Report workflow notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)
- A. The Output types
- B. The layout-template
- C. The Style-Template
- D. The Data Model
- E. The original Source
Answer: B,C
Explanation:
Style Template: Provides styles such as the type of lines and fonts to use in tables, or the font type, size, and color to use for headings
Report: Contains a layout template that determines:
Which attributes appear in the notification, from the data model used for the report
What the notification looks like, leveraging components from the subtemplate and styles from the style template used for the report
NEW QUESTION # 70
You need to enter a high volume of users into the system. What is Oracle's recommendation to do this?
- A. Use the Enter a Supplier user interface and enter each user manually.
- B. Use the Hire an Employee user interface and enter each user manually.
- C. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Cloud Applications.
- D. use the spreadsheet of Oracle Identity Manager (OIM) to import users.
Answer: C
Explanation:
If you have batch of users that have to be created, the Oracle team can bulk load the users into the OIM Application.
References:http://docs.oracle.com/cd/E79623_01/rms/pdf/160C/html/admin_guide/tasks.htm
NEW QUESTION # 71
You need to create a payment for a supplier before the next payment run. The invoice you wish to pay is not available for selection in the Create Payment page.
Which two are possible reasons for this? (Choose two.)
- A. The payment method for the invoice is Electronic.
- B. The invoice is not yet due.
- C. The invoice is not validated.
- D. The invoice is not accounted.
- E. The payment supplier site is different to the supplier site on the invoice.
Answer: B,C
NEW QUESTION # 72
The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? (Choose three.)
- A. All related interest invoices are reversed if previously created.
- B. Any realized gain or loss previously calculated is reversed.
- C. All related withholding tax invoices are automatically voided.
- D. Any previous accounting and payment records for an invoice are reversed.
- E. Voiding the payment automatically places an invoice on hold.
Answer: A,B,D
Explanation:
D: When you void a payment, Payables automatically reverses the accounting and
payment records so your general ledger will have the correct information, and so the status of the
paid invoices is reset to Unpaid. Payables also reverses any realized gains or losses on foreign
currency invoices recorded as paid by the payment.
B: If you withhold taxes at payment time and you void a payment that paid an invoice with an
associated withholding tax invoice, then Payables automatically creates a negative (reversing)
invoice for the tax authority supplier to offset the amount of the tax withholding invoice. You
determine when you withhold taxes by selecting the Apply Withholding Tax option in the Payables Options page.
References: Oracle Payables User's Guide, Voiding Payments Using the Payments Window
NEW QUESTION # 73
Your client company wants to ensure that the payments they are sending to their financial institution are valid and formatted correctly. They would like to identify any validation failures as early in the process as possible.
Where would you suggest the validations are set?
- A. Payment Format
- B. Payment Terms
- C. Disbursement Bank Account
- D. Supplier Site
- E. Payment Method
Answer: E
NEW QUESTION # 74
The Government has introduced a new reduced tax recovery rate for certain services. You need to amend the configuration for your current tax regime to reflect this change.
Which three setups will you need to complete? (Choose three.)
- A. Setup a new tax
- B. Setup a new tax rule
- C. Setup a new recovery rate
- D. Setup a new status
- E. Setup Determining Factor and Condition Sets
- F. Setup a new tax rate
Answer: B,D,F
Explanation:
Set up details for the taxes of a tax regime. Each separate tax in a tax regime includes records that are used to calculate and report on the tax, including:
Tax statuses
Tax rates
Tax rules
NEW QUESTION # 75
Which two are classified as Self-Billed invoices? (Choose two.)
- A. Customer Refunds initiated from Receivables
- B. Debit Memos created by the Return to Supplier feature
- C. Evaluated Receipt Settlement (ERS) Invoices
- D. Invoices created using Integrated Imaging
- E. Expense Reports transferred from Expenses
- F. Invoices entered through the Supplier Portal
Answer: C,F
Explanation:
Select ERS and Use in the Transaction source parameter when running the Pay on Receipt Auto-invoice concurrent program.
You enable paying your supplier by selecting a method on the Purchasing tab of the Supplier Sites window in Oracle Payables.
NEW QUESTION # 76
You have created an approval rule as follows:
Rule 1: If the invoice amount > $1000, route it to User 1.
Rule 2: If the invoice amount < $1000, auto approve it.
Now, the user creates an invoice for $1000 and routes it for approval.
What will happen?
- A. Invoice will be sent to User 1 for approval.
- B. The initiate option is greyed out for the invoice.
- C. The workflow will fail once approval is initiated.
- D. Invoice will be auto-approved.
Answer: C
NEW QUESTION # 77
You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?
- A. Both the invoice and the credit memo are selected and the Payment Process Request requires attention.
- B. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.
- C. Both the invoice and the credit memo are paid and a refund of $25 USD is created.
- D. Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD.
Answer: D
Explanation:
When you submit a "payment process request", you can enable the Apply credits up to zero amount payment option. Enabling the option causes the payment process to apply credits when the credits reduce the payment amount below zero.
The following scenario illustrate the impact of this option.
Credit Amount Greater Than Invoice Amount
An invoice for 200 USD and a credit memo for 225 USD are due for payment.
The following tabledescribes the payment processing that occurs based on the setting for the Apply credits up to zero amount payment option.
Assume that the "Apply Credits Up to Zero Amount" option is enabled.
Payment processing applies 200 USD of the credit memo to the invoice and creates a payment for 0 USD. The remaining credit is 25 USD.
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9F438E13CC89BA0CE040D30A68816F77
NEW QUESTION # 78
An installment for $2,000 USD is due for payment on July 31, 2018. The installment has two discounts: the first discount date is June 15, 2018 for $150 USD and the second discount date is June 30, 2018 for $50 USD.
You submit a Payment Process Request with the following criteria:
Payment Date = June 20, 2018
Pay Through Date = July 30, 2018
Date Basis = Due Date
What will be the resulting status of the installment and discount?
- A. The installment is selected and no discount is applied.
- B. The installment is selected and a discount of $150 USD is applied.
- C. The installment is not selected because the discount dates are before the Pay Through Date.
- D. The installment is selected and a discount of $50 USD is applied.
- E. The installment is not selected because the due date is after the Pay Through Date.
Answer: E
Explanation:
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm#FAPPP1011879
NEW QUESTION # 79
When working with reference data sets in Payables, what reference data sharing method can you use for Payables Payment Terms?
- A. Assignment to one set only; no common values allowed
- B. Assignment to multiple sets; no common values allowed
- C. Assignment to one set only with common values
- D. Assignment to multiple sets with common values allowed
Answer: B
Explanation:
Assignment to multiple sets, no common values allowed. The method of sharing reference data that allows a reference data object instance to be assigned to multiple sets. For instance, Payables Payment Terms use
this method.
NEW QUESTION # 80
A Bill Payable document was paid but has not yet matured.
What is the status of the payment?
- A. Issued
- B. Cleared
- C. In Transit
- D. Negotiable
Answer: A
NEW QUESTION # 81
Which component is not included in the security architecture for credit card data and bank account data encryption?
- A. Payments subkeys
- B. Oracle Wallet
- C. Supplier master encryption key
- D. Payments master encryption key
- E. Sensitive data encryption and storage
Answer: C
NEW QUESTION # 82
You created a payment and before it is cashed by the supplier you mistakenly submitted a request to stop payment. Later you canceled the request to stop payment. What is the resulting payment status?
- A. Voided
- B. Negotiable
- C. Cleared
- D. Canceled
- E. Available
- F. Stop initiated
Answer: B
Explanation:
To release a stop on a payment:
References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/adjpmt04.htm
NEW QUESTION # 83
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