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Reliable 1Z0-1055-24 Test Labs - Quiz 2025 Realistic Oracle Dump Oracle Financials Cloud: Payables 2024 Implementation Professional Collection

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Oracle 1Z0-1055-24 Exam Syllabus Topics:

Topic
Details

Topic 1

Managing Payables Invoices: This section measures the skills of Accounts Payable Administrators and explains invoice imaging and recognition solutions, creating and accounting for invoices, and managing suppliers within Oracle Financials Cloud156. These skills are fundamental for efficiently handling invoice processing and supplier relationships.

Topic 2

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 3

Processing Expenses: This section evaluates the capabilities of Auditors in managing expense-related tasks156. It covers entering expense reports, managing expense approvals, processing expense reimbursements, managing corporate cards, auditing expense reports, and setting up expenses within the system. These skills ensure compliance with expense policies and accurate reimbursement processes.

Topic 4

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
One of your clients notifies their suppliers of rejected invoices via email. You suggest that they instead send notifications to suppliers for rejected electronic invoices using industry-standard XML as a UBL 2.1 Invoice Response Message. Your client wants to know about the benefits of making this switch.
Which two benefits of this feature can you share with them?

A. There is automatic processing of electronic response messages.
B. You can customize automatic responses per invoice type.
C. Suppliers can view the rejection reason in their system and take corrective action.
D. The notification provides suppliers with the option to request Payables manual intervention and support.

Answer: A,B

NEW QUESTION # 47
You are a consultant for a mid-sized company. They have asked you to identify Cash Management reports that can be used to gain a better understanding of the company's cash position. You found four key reports.
You are a consultant for a mid-sized company. They have asked you to identify Cash Management reports that can be used to gain a better understanding of the company's cash position. You found four key reports.
Which option correctly matches each report with its description?

Answer:

Explanation:

NEW QUESTION # 48
MANAGE POLICIES BY EXPENSE CATEGORY
The US1 Business Unit has an expense policy on meals that allows an employee to claim 30 USD per day for an evening meal, regardless of their role and location.

Answer:

Explanation:
See the Explanation for Step-by-Step Solution.
Explanation:
Step-by-Step Solution: Configuring Expense Policies by Expense Category in Oracle Financials Cloud To implement the expense policy for meals in Oracle Financials Cloud, follow these steps:
Step 1: Navigate to the Expense Policies Setup
* Log in to Oracle Financials Cloud with the appropriate Expense Manager or Financial Administrator role.
* Go to the Setup and Maintenance work area.
* Select Manage Policies by Expense Category (Task Name: Manage Expense Policies by Expense Category).
* Select the US1 Business Unit to ensure the policy applies to the correct entity.
Step 2: Create or Update the Meal Expense Category
* Under Manage Policies by Expense Category, locate or create the Meals Expense Category.
* If the Meals category does not exist:
* Click Create Expense Category.
* Enter Category Name: "Meals".
* Category Type: "Meals and Entertainment".
* Save the entry.
Step 3: Define Expense Limits for Evening Meals
* Select the Meals Expense Category and click Edit.
* Navigate to the Policies and Limits tab.
* Under Amount Limits, click Add New Rule.
* Description: "Evening Meal Limit".
* Limit Type: "Maximum Allowed Amount".
* Limit Amount: Enter 30 USD.
* Per: Select Day.
* Apply to All Employees (since this applies regardless of role and location).
* Location-Based Rules: Leave blank since it applies universally.
* Click Save and Close.
Step 4: Enable and Activate the Policy
* Ensure the policy is enabled by selecting the checkbox for Active.
* Click Submit to finalize the configuration.
* Run the "Validate and Deploy Expense Policies" process to apply changes.
Step 5: Testing the Policy
* Simulate an Expense Report Submission:
* Have an employee create a new expense report.
* Select Meals as the expense category.
* Enter an evening meal expense of 35 USD (which exceeds the policy limit).
* Verify if a policy violation warning appears, restricting the claim to 30 USD.
* Submit an expense of 30 USD and ensure no policy violation occurs.
Expected Outcome:
* Employees can claim up to 30 USD per day for an evening meal.
* Any claim above 30 USD triggers a policy violation warning.
* The rule applies to all employees regardless of role and location.
Conclusion
By following the above steps, you successfully configure an expense policy for meals that limits evening meal claims to 30 USD per day. This ensures compliance with the company's expense management guidelines while streamlining the expense approval process in Oracle Financials Cloud.

NEW QUESTION # 49
Your company will be utilizing the Campaign Management for Early Payment Discount Offers feature to maximize early payment discounts. This feature allows companies to send email-based campaigns offering suppliers the opportunity to enroll in an early payment discounts program. There is a predefined list of response options that suppliers can choose from, and such supplier responses are then automatically processed and applied in the system.
Which two are predefined response options available to suppliers?

A. Decline the Offer
B. Subscribe
C. Enroll in a Standing Offer
D. Accept All Offers

Answer: A,C

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Financials Cloud, the Campaign Management for Early Payment Discount Offers feature enables organizations to send email campaigns to suppliers, inviting them to participate in early payment discount programs. Suppliers receiving these offers have predefined response options that are automatically processed by the system.
Predefined Supplier Response Options:
* Accept a One-Time Offer:Suppliers can choose to accept a discount offer for specific invoices that are currently eligible for early payment. This action applies the discount to the selected invoices, and they are processed for early payment accordingly.
* Enroll in a Standing Offer:By selecting this option, suppliers agree to participate in an ongoing early payment discount program. All future invoices that meet the agreed-upon criteria will automatically be eligible for early payment discounts without the need for individual acceptances.
* Decline the Offer:Suppliers may opt to decline the current early payment discount offer. Declining does not prevent them from receiving future offers; it simply indicates that they are not interested in the present offer.
* Unsubscribe:If a supplier chooses to unsubscribe, they will no longer receive email notifications regarding early payment discount offers from the campaign. This action effectively removes them from the current and any future campaigns.
Analysis of the Provided Options:
* A. Accept All Offers:There is no predefined response option that allows suppliers to accept all past and future offers in a single action. Acceptance is either for a specific one-time offer or through enrollment in a standing offer for future invoices.
* B. Decline the Offer:This is a valid predefined response. Suppliers can choose to decline the current offer, indicating they are not interested in the proposed early payment discount for the specified invoices.
* C. Subscribe:While suppliers can unsubscribe from receiving future offers, there isn't a specific
"Subscribe" option. Suppliers are considered participants by default and can choose to enroll in standing offers or accept individual offers.
* D. Enroll in a Standing Offer:This is a valid predefined response. Suppliers can enroll in a standing offer, agreeing to early payment discounts on all future eligible invoices automatically.
Conclusion:
The correct predefined response options available to suppliers are B. Decline the Offer and D. Enroll in a Standing Offer. These options provide suppliers with the flexibility to manage their participation in early payment discount programs effectively.
References:
* Oracle Help Center: Early Payment Discount Offers
* Oracle Help Center: Email Campaigns

NEW QUESTION # 50
You have been asked by the cloud customer to create some user-defined account derivation rules for Payables invoices that were imported from lease accounting.
Which two lease accounting source attributes are predefined and can be used in rule creation?

A. ROU Flag value
B. Lease preparer
C. Lease location
D. DFF values on the Schedule tab
E. DFF values on the Asset tab

Answer: A,E

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Lease Accounting, integration with Oracle Payables allows for the seamless import of lease-related invoices. To ensure accurate financial reporting, it's essential to configure account derivation rules that map specific lease attributes to the appropriate general ledger accounts. Oracle provides a set of predefined source attributes that can be utilized in creating these rules.
Key Predefined Lease Accounting Source Attributes:
* DFF Values on the Asset Tab (Option A):
* Explanation: Descriptive Flexfields (DFFs) on the Asset tab capture additional, user-defined information related to leased assets. These fields can store bespoke data pertinent to an organization's reporting requirements. When configuring account derivation rules, these DFFs can be referenced to derive specific accounting treatments based on the custom attributes recorded.
Reference: Accounting Configuration for Lease Accounting Invoices
ROU Flag Value (Option D):
Explanation: The Right-of-Use (ROU) flag indicates whether an asset is recognized as a right-of-use asset under lease accounting standards. This distinction is crucial for determining the appropriate accounting treatment for lease-related transactions. In account derivation rules, the ROU flag can be used to route transactions to the correct accounts, ensuring compliance with accounting standards.
Reference: Accounting Configuration for Lease Accounting Invoices
Other Options Analysis:
DFF Values on the Schedule Tab (Option B):
Explanation: While Descriptive Flexfields on the Schedule tab may capture additional information related to payment schedules, they are not explicitly listed among the predefined source attributes available for account derivation rule creation in Oracle Lease Accounting.
Lease Preparer (Option C):
Explanation: The individual who prepares the lease (Lease Preparer) is not a predefined source attribute available for configuring account derivation rules. Accounting rules typically rely on attributes directly impacting financial transactions rather than user-specific data.

NEW QUESTION # 51
......

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