Get Ready to Pass the 1z0-1055-22 exam Right Now Using Our Oracle Financials Cloud Exam Package [Q48-Q65]

1z0-1055-22 Oracle

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November 23, 2022

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Get Ready to Pass the 1z0-1055-22 exam Right Now Using Our Oracle Financials Cloud Exam Package

Enhance Your Career With Available Preparation Guide for 1z0-1055-22 Exam

Oracle 1z0-1055-22 Exam Syllabus Topics:

Topic	Details
Topic 1	Explain Oracle Transactional Business Intelligence (OTBI) Process expense reimbursements
Topic 2	Explain Bank Reconciliations Configure Payables and Payments
Topic 3	Manage Withholding and Transaction Taxes Manage Invoice and Payment Approvals
Topic 4	Use the Payables to Ledger Reconciliation Report Manage Subledger Accounting

NEW QUESTION 48
You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?

Run the create accounting program.

Run the invoice validation program.

Remove the documents or payments causing the error and resume the payment process.

Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.

Terminate the payment process request.

Using the Resolve Document Validation Errors Page, you may review the errors and takeaction. You may fix related data, such as third party payee information, and submit the documents for revalidation. You may also remove documents from the Payment Process Request, which sends the documents back to the source product with the validation failure reason, just as rejection does.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e13415/T456136T484670.htm

NEW QUESTION 49
An invoice for $200 USD and a credit memo for $225 USD are due for payment and the “Apply credits up to zero amount” option is enabled for the payment process request. Which statement is correct?

The payment process request pays only $200 USD alone.

The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates a payment for $0 USD.

The payment process request creates a refund for $225 USD and leaves the invoice unpaid.

The payment process request doesn’t select the invoice or credit memo for payment because the credit reduces the payment to – $25 USD, which is below zero.

When you submit a “payment process request”, you can enable the Apply credits up to zero amount payment option. Enablingthe 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 memofor 225 USD are due for payment.
The following table describes 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 50
Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation. (Choose two.)

Do not assign bank accounts to business units.

Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-tobank reconciliation.

Business units must be granted access to the bank account.

Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access.

Allow bank accounts to be accessed by all roles and users because the default value to secure a bank account by users and roles is No.

Account Access
Payables and Receivables account access is secured by business unit. In addition to selecting theappropriate application use or uses, one or more business units must be granted access before the bank account can be used by Payables and Receivables. Only business units that use the same ledger as the bank accounts owning legal entity can be assigned access.

NEW QUESTION 51
XYZ Supplier has third party relationships defined with ABC Supplier and ACME Corporation. However, when reviewing the invoice installments for XYZ Supplier the payables specialist is unable to override the remit-to supplier name and address on the Invoice installments.
What is the reason for this?

The option ‘Allow remit-to supplier override for third-party payments’ is not checked in the Invoice Options page for the business unit.

The option ‘Allow remit-to supplier override for third-party payments’ is not checked in the Common Options for Payables and Procurement page for the business unit.

The option ‘Allow remit-to supplier override for third-party payments’ is not checked in the Payment Options page for the business unit.

The option ‘Allow remit-to supplier override for third-party payments’ is not checked in the Disbursement System Options page for the business unit.

NEW QUESTION 52
In what order should the import process be run when importing suppliers?

Supplier, Supplier Site Contacts, Supplier Site, Supplier Site Assignment

Supplier, Supplier Address, Supplier Site, Supplier Site Assignments

Supplier, Supplier Site Assignment, Supplier Site, Supplier Contacts

any order

The following programs are used to import supplier information:
When importing supplier records containing data in each table, then Suppliers must be run first, followed by the Supplier Sites import process. Once the data is inserted, the following concurrent processes must be run to create the information in Oracle Fusion Suppliers.
Suppliers Import Process
Supplier Sites Import Process
Supplier Site Contacts Import Process
Supplier Site Assignments Process
References:https://docs.oracle.com/cd/E56614_01/procurementop_gs/OAPRC/F1007476AN1079E.htm

NEW QUESTION 53
Which two statements about the submission of invoices by suppliers using Supplier Portal are true? (Choose two.)

A supplier can make changes to the invoice after submitting it.

A supplier can submit a single invoice against multiple purchase orders across different currencies and organizations.

A supplier can submit a single invoice against multiple purchase orders, provided the currency and organization for all the invoice items are the same as those on the purchase orders.

A supplier can submit invoices against open, approved, standard, or blanket purchase orders that are not fully billed.

A supplier can validate the invoice after submitting it.

D: (not C): You can enter a credit memo against a fully billed purchase order (use negative quantity amounts to enter a credit memo), as well as invoice against multiple purchase orders. However, the currency and organization of all items on an invoice must be the same. The organization is the entity within the buyer’scompany that you are invoicing.
IncorrectAnswers:
E: After you submit an invoice, you cannot change the invoice.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e13414/T463223T463232.htm

NEW QUESTION 54
There are four key reports in Cash Management.
What is the correct match for each report and its description?
Report
1. Cash to General Ledger Reconciliation Report
2. Bank Statement Report
3. Cash in Transit Report
4. Bank Statement Analysis Report
Description
1. Lists all transactions for a specific bank account, that have been remitted to the bank but have not been cleared.
2. Displays the bank statements that are used to analyze balances and transaction details.
3. Displays balance and transaction information for specific bank statements.
4. Lists bank statement transactions that are accounted in GL but are not reconciled in Cash Management.

1 = H, 2 = G, 3 = E, 4 = F

1 = E, 2 = G, 3 = H, 4 = F

1 = H, 2 = F, 3 = E, 4 = G

1 = H, 2 = E, 3 = G, 4 = F

NEW QUESTION 55
Which three reports are generated by the export setup data process? (Choose three.)

Exported Business Object Report

Process Results Report

Process Results Summary Report

Process Results Detail Listing Report

Setup Data Report

NEW QUESTION 56
Which statement is true about selecting a bank account on the Create Payment page?

LE on the bank account should be different from the LE on the invoice.

Bank account must match the supplier’s bank account.

Users can pick any bank account as long as the bank account is tried to the business unit.

There is no relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system.

LE on the bank account should be equal to LE on the invoice.

Note: LE = legal entity

NEW QUESTION 57
Which three types of payments can you make if you have access to Disbursement Process Management Duty? (Choose three.)

Reimbursement of employee expense reports

Employee advances

Supplier payments

Customer refunds

Ad hoc payments

NEW QUESTION 58
After you submitted a Payment Process Request, you noticed errors. You want to void the payments. Identify two statements that indicate when it is not possible to void a payment. (Choose two.)

A payment that pays a prepayment that has been applied to an invoice.

A payment that has already cleared the bank.

A payment that has been accounted and posted to General Ledger.

A payment with the status of Issued.

A payment for an invoice with an associated Withholding Tax invoice.

A: You can’t: Void a payment for aprepayment that’s applied. You must first unapply the prepayment, then void the payment.
D: If the payment is cleared in cash management then it has to be uncleared first before you can void the payment.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm

NEW QUESTION 59
You have 10 ledgers and 30 business units and want to leverage Preference Data Sets. What is the function of Reference Data Sets?

allow you to secure data by business unit

allow you to assign multiple business units to users in a shared service center

allow you to maintain sets of related data in a Data Dictionary

allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup

Reference Data Sets
You begin this part of your implementation by creating and assigning reference data to sets. Make changes carefully as changes to a particular set affect all business units or application components using that set. You can assign a separate set to each business unit for the typeofobject that is being shared. For example, assign separate sets for payment terms, transaction types, and sales methods to your business units.
Your enterprise can determine that certain aspects of your corporate policy can affect all business units. The remaining aspects are at the discretion of the business unit manager to implement. This allows your enterprise to balance autonomy and control for each business unit. For example, your enterprise holds business unit managers accountable for their profitand loss, but manages working capital requirements at a corporate level. In such a case, you can let managers define their own sales methods, but define payment terms centrally. In this example:
Each business unit has its own reference data set for salesmethods.
One central reference data set for payment terms is assigned to all business units.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAIGL/FAIGL1493157.htm#FAIGL94314

NEW QUESTION 60
Which reporting tool is used to report on real-time data?

Essbase Cube

Smart View

Oracle Business Intelligence Publisher

Oracle Financial Reporting Studio

Oracle Transactional Business Intelligence (OTBI)

NEW QUESTION 61
What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2018 if the invoices with a Hold status have an invoice date of January 20, 2018?

The accounting dates of all unaccounted invoices will be changed to February 20,2018, the same day of the next period.

The accounting dates of all unaccounted invoices will change to February 28, 2018, the last day of the next period.

The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2018.

The accounting dates of all unaccounted invoices will be changed to February 1, 2018, the first day of the next period.

Run the Payables Unaccounted Transactions Sweep program to transfer unaccounted transactions from one accounting period to another. If your accounting practices permit it, use this program to change the accounting date of the transactions to the next open period.
The program transfers unaccounted transactions to the period you specify by updating the accounting dates to the first day of the new period.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011880AN1B948.htm

NEW QUESTION 62
When creating a check payment, from where is the payment document defaulted?

Legal Entity

Bank

Business Unit

Bank Account

Supplier

Create Check
This step shows how to create a check to pay the customer for theclaim. The customer will be paid with the designated amount in Oracle Payables.
Navigation: Actions > Pay in Full.
Notes:
Bank Account: Select BofA.
Document: Select Check.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e16295/T544851T544993.htm

NEW QUESTION 63
What is the name of the Work Area that is used to access Functional Setup Manager?

Functional Work Area

Functional Setup Manager

Customization Manager

Setup and Maintenance

Customize Setup and Maintenance

All Oracle Functional Setup Manager functionality is available from the Setup and Maintenance work area.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FACSF/FACSF1004385.htm

NEW QUESTION 64
Which two invoice types can have a status of Incomplete? (Choose two.)

Supplier Portal Invoices which are rejected and resubmitted for approval

Scanned Invoices with incomplete or missing information

Scanned Invoices which are rejected during import

Prepayment Invoices which are fully paid but not applied against any invoice

Supplier Portal Invoices which are saved but not yet submitted

As a Supplier user, you can now edit and resubmit invoices that are rejected from the approval users during the invoice request approval process.
An incomplete invoice is an invoice created from an image that has invalid or missing information.

NEW QUESTION 65
Identify three scenarios where you are not allowed to cancel an invoice. (Choose three.)

Prepayments were applied to the invoice.

An accounting entry has been created for the invoice.

The invoice is validated.

The invoice is fully or partially paid.

The invoice was adjusted by a credit or a debit memo.

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

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