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New 1Z0-1055-24 Braindumps Sheet & 1Z0-1055-24 Practice Engine

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Oracle 1Z0-1055-24 Exam Syllabus Topics:

Topic
Details

Topic 1

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.

Topic 2

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 3

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 4

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 5

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.

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Quiz Oracle - 1Z0-1055-24 - Accurate New Oracle Financials Cloud: Payables 2024 Implementation Professional Braindumps Sheet

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Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions (Q38-Q43):

NEW QUESTION # 38
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. Run the Period Invoice Audit Report
B. Query the Payables Invoice Register
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 # 39
During an expense audit, the auditor marks an expense item, which is missing a receipt, to be Short Paid. The auditor chooses to complete the audit and warn the user.
Given that the Expense Report Audit Approval is set to After Manager Approval, what are the two valid results of the auditor's action?

A. A new expense report containing disallowed expense items is immediately created.
B. The approved part of the expense report is eligible for expense reimbursement.
C. The approved part of the expense report is not eligible for expense reimbursement.
D. A new expense report containing disallowed expense items is not created until the manager approves the short payment.

Answer: A,B

NEW QUESTION # 40
Which reference data sharing method can you use for Payables Payment Terms when working with reference data sets in Payables?

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

Answer: A

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.
Reference:
Reference Data Sets and Sharing Methods
Payment Terms

NEW QUESTION # 41
Which two invoice types can have a status of Incomplete?

A. Supplier Portal Invoices which are saved but not yet submitted
B. Prepayment Invoices which are fully paid but not applied against any invoice
C. Scanned Invoices with invalid or missing data
D. Scanned Invoices which are rejected during import

Answer: A,C

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Financials Cloud, the "Incomplete" status is assigned to invoices that require additional information or actions before they can be fully processed. This status ensures that incomplete or erroneous invoices are identified and addressed promptly.
A . Supplier Portal Invoices which are saved but not yet submitted
When suppliers create invoices through the Supplier Portal, they have the option to save their progress without submitting the invoice for approval or payment. These saved invoices are assigned an "Incomplete" status, indicating that the supplier has not yet finalized and submitted them. This allows suppliers to review and modify invoice details before formal submission.
support.oracle.com
B . Scanned Invoices with invalid or missing data
Invoices processed through Integrated Imaging or Intelligent Document Recognition (IDR) are scanned and imported into the system. If these scanned invoices contain invalid or missing data-such as incorrect invoice numbers, missing line items, or unreadable fields-they are assigned an "Incomplete" status. This designation prompts accounts payable personnel to review and correct the discrepancies before the invoices can proceed through the payment process.
docs.oracle.com
C . Scanned Invoices which are rejected during import
Invoices that are rejected during the import process due to significant errors or mismatches are typically not assigned an "Incomplete" status. Instead, they are marked as "Rejected" or "Error," indicating that they require substantial correction before reprocessing. Therefore, this option is not associated with the "Incomplete" status.
D . Prepayment Invoices which are fully paid but not applied against any invoice Prepayment invoices represent advance payments made to suppliers and are recorded as such. Once a prepayment is made, the invoice reflects a "Paid" status. The application of this prepayment to subsequent invoices is a separate process and does not revert the original prepayment invoice to an "Incomplete" status. Thus, this option does not correspond to the "Incomplete" status.
Understanding the scenarios that lead to an "Incomplete" status helps organizations efficiently manage and rectify invoice issues, ensuring a smooth accounts payable workflow.

NEW QUESTION # 42
You learn that you can create action links to drill down from an Oracle Transactional Business Intelligence (OTBI) report to as specific transaction. You decide to test it out when running the payables to ledger reconciliation" Report When you click a specific balance, it directs you to Oracle Payables application where you can view the transactional details about the balance.
What information can you view when using the action link in the "Payables to ledger reconciliation" Report.

A. Beginning balances
B. Differences
C. Period activity
D. Ending balances

Answer: B

NEW QUESTION # 43
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