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1z0-1055-22 Oracle Financials Cloud: Payables 2022 Implementation Professional Questions and Answers

Questions 4

You have an invoice with a payment term that has the following settings:

• Day of Month = 15

• Cut off Day = 11

• Months Ahead = 0

• Terms Date on Invoice = January 12th

What will the resulting due date for the invoice installment be?

Options:

A.

March 15th

B.

January 15th

C.

April 15th

D.

February 15th

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Questions 5

The payment build program has completed but with errors.

When submitting the payment process request, which processing option is used to review the error messages from the Manage Payment Process Request Inquiry?

Options:

A.

Set the validationfailure handling for documents to “show errors.”

B.

Set the validation failure handling for payments to “stop process for review.”

C.

Set the validation failure handling for payments to “show errors.”

D.

Enable debug for the payment format program.

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Questions 6

Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?

Options:

A.

Payables to Ledger Reconciliation report

B.

Payables Aging reports with the General Ledger Trial Balance report

C.

General Ledger Financial Statements and the Accounts Payable and Invoice Registers

D.

Payables Trial Balance and General Ledger Trial Balance reports

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Questions 7

What are the two advantages of using a spreadsheet for correcting invoice import errors? (Choose two.)

Options:

A.

identification of errors with clear errormessages at the invoice header and line levels

B.

ability to enter a high volume of invoices via a spreadsheet

C.

ability to correct errors and re-import invoices directly from a spreadsheet

D.

identification of errors with clear error messages at theinvoice header level only

E.

ability to correct errors within the spreadsheet and send invoice corrections for approval

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Questions 8

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

Options:

A.

allow you to secure data by business unit

B.

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

C.

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

D.

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

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Questions 9

What are the output formats supported for Electronic and Check format programs?

Options:

A.

Electronic output format of XML, Check output format of rtf

B.

Electronic output format of eText, Check output format of rtf

C.

Electronic output format of Text, Check output format of Text

D.

Electronic output format of DATA (csv), Checkoutput format of Zipped PDFs

E.

Electronic output format of PDF, Check output format of PDF

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Questions 10

You want to customize the Payables Invoice Register template to only display invoices when the Supplier name is Company A. Supplier nameis a group that repeats on every page.

Which is the correct way to customize the template?

Options:

A.

Insert the syntax before the Supplier field on the template. Then, enter the tag after the invoices table.

B.

Insert the syntax before the Supplier field and then enter the closing tag .

C.

Insert the syntax before the Supplier field and then enter the closing tag after the invoices table.

D.

Hard code Supplier Name “Company A” in the report template and only invoices for that supplier will be displayed.

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Questions 11

Which three are invoice types that can be entered using the Supplier Portal? (Choose three.)

Options:

A.

Invoices that are automatically created when the supplier creates an ASN for drop shipments

B.

B2B XML invoices

C.

Nonpurchase order matched invoices

D.

Invoices that are created from the Evaluated Receipt Settlement (ERS) process

E.

Purchase order matched invoices

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Questions 12

You have three procurement business units, four requisition business units and five sold-to business units. For which will the supplier registration flows be deployed?

Options:

A.

three procurement business units

B.

one business unit per supplier

C.

five sold-to business units

D.

four requisition business units

E.

twelve business units per supplier

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Questions 13

A company has a requirement todefault the disbursement bank account when submitting a Payment Process Request.

Which two actions will accomplish this? (Choose two.)

Options:

A.

Define the Disbursement Bank Account in the Payment tab at the supplier site level.

B.

Create a Payment Process Request template that includes the Disbursement Bank Account.

C.

Assign the Disbursement Bank Account to users to have the payment process default the bank account.

D.

Define the Disbursement Bank Account at the business unit level to have the payment processderive the bank account.

E.

Define the Disbursement Bank Account to the Payment Method in payment default rules.

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Questions 14

Which job role has full access to perform all Functional Setup Manager related activities?

Options:

A.

Application System Administrator

B.

Any Functional User

C.

Functional Setup Manager Superuser

D.

IT Security Manager

E.

ApplicationImplementation Consultant

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Questions 15

You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements. (Choose two.)

Options:

A.

For period end accruals, accounting is created at material receipt or at delivery to a final destination.

B.

For period end accruals, the invoice accounting debits the expense account and credits the liability account.

C.

For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.

D.

For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts.

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Questions 16

Your customer has requested a modification to the payment file to meet the acceptable bank standards. The changes were based on a format of a seeded payment process profile which is already in use. The only changes made are to the field positions. What two steps can make these changes work?

Options:

A.

No change in the template is needed as we can achieve this using user-defined validations to move the positions as required.

B.

Keep the payment process profile and leave the format programs unchanged.

C.

Copy and modify the existing template to alter the positions as requested by the bank.

D.

Create a newpayment process profile and a new format program.

E.

Create a new template to make changes as requested by the bank.

F.

Oracle Data Integrator or Golden Gate can be used to map the fields as required.

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Questions 17

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

Options:

A.

Run the createaccounting program.

B.

Run the invoice validation program.

C.

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

D.

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

E.

Terminate the payment process request.

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Questions 18

How will system evaluate the tolerances for expense reports?

Options:

A.

System will calculate error tolerance as (|Policy Rate * (1+Error Tolerance/100)|) currency precision.

B.

System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100)*currency precision.

C.

System will calculate error tolerance as Policy Rate *(1+Warning Tolerance+ Error Tolerance/100).

D.

System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100).

E.

System will use absolute amount tolerance setup to do validations.

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Questions 19

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

Options:

A.

Legal Entity

B.

Bank

C.

Business Unit

D.

Bank Account

E.

Supplier

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Questions 20

Which statementis correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

Options:

A.

The user needs to specify which payment term to use.

B.

The payment term of the purchase order overrides the invoice payment term.

C.

The payment term of the invoice overrides the purchase order payment term.

D.

The purchase order payment term cannot be overridden.

E.

The user needs to manually change the payment term on the invoice to match the purchase order payment term.

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Exam Code: 1z0-1055-22
Exam Name: Oracle Financials Cloud: Payables 2022 Implementation Professional
Last Update: Feb 22, 2024
Questions: 139
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