Oracle Financials Cloud: Payables 1Z0-1055 (2023)

You processed imported invoices using the IDR process. However, some of the invoices did not get imported. What could be three reasons for this?. The invoices were sent as an email attachment. The invoices were in password-protected PDF format. The invoices were sent in a zip file. The invoices were in an email attachment of a forwarded email.

When an employee enters their mileage expense using an android application, the application displays location maps. Is this an expected behavior of the application?. Yes, Oracle map services are enabled for that business unit in the expenses setup. No, Oracle mileage expenses cannot be linked to maps. Yes, the employee has Google Maps installed in their mobile application. No, the employee's mobile application is behaving incorrectly.

ABC company is implementing Financials Cloud and you are assigned the task of setting up accounting methods for the primary ledger. Which three are mandatory options to enable accounting methods?. Journal Line Rules. Journal Entry Rule Set. Account Rules. Depreciation Rules.

To administer a check on reconciliation, we set a tolerance on the reconcealing amount. Which statement is true about tolerance?. Tolerance is applicable only to automatically match the bank statement and the subledger transaction. Tolerance is not applicable to the bank reconciliation process. Tolerance is not applicable to manually match the bank statement and the subledger transaction. Tolerance is applicable to both automatically and manually match the bank statement and the subledger transaction.

During the payables period close process, you find a list of entries in the exception report. What action can you take to resolve the exceptions?. Validate the invoices. Create a new invoice transaction to correct the exceptions. Validate and account the transaction. Generate accounting and transfer them to general ledger.

You are required to analyze the journals posted in general ledger against the open balances. Which report can help you with this?. Payables Invoice Register. Journal Entry Report. Payables to Ledger Reconciliation Report. Account Analysis Report.

When entering an expense report from the expense report work area, a user finds the itemized section disabled. What is the reason for this?. No value is entered in the amount field. The expense report is not saved. User privileges to itemize are not granted. The user is entering expenses offline.

Which statement is true about supporting documents?. Supporting documents can be imported using a designated separator page. It is mandatory to have one supporting document for every invoice scanned. Supporting documents cannot be processed by using the invoice imaging solution. Invoices, receiving documents, contracts, notices, etc. are scanned together in an invoice imaging solution.

The system does not allow you to cancel an invoice. What are two reasons for this?. The invoice is validated. The invoice is accounted. The invoice is partially paid. A prepayment invoice is applied to the invoice selected for cancellation.

 You and the bank are discussing acceptable bank standard formats for you to import into Oracle Applications. Which two standard bank protocols can you accept?. .xml. BAI2. SWIFTMT940. Spreadsheet.

A payables clerk creates an invoice and clicks the Validate button. What change is seen in the invoice?. The supplier site is validated. The invoice description is validated and appropriate holds are placed. The invoice line amount is updated by the system to include tax. A tax line and distribution lines are created for this invoice.

What is a purchase order that is associated with an invoice created in the supplier portal called?. Self-Service Invoice. Invoice Group. Invoice Request. Matching.

John, a payables clerk, has been recently promoted to a manager. As a manager, however, he is unable to drill down to a purchase order using deep links in the Payables Trial Balance Report. What could be two reasons for this?. John is not assigned the Accounts Payables Supervisor role. A Payables Clerk role, once assigned, cannot be updated to a Manager in the Cloud Application. John is not assigned the Accounts Payables Manager role. The deep link drill down option is not available for any of the payables roles in the application.

There is a requirement for two managers to simultaneously approve an expense report. How can this be set up?. Enable the approval rule in serial mode. Enable the approval rule of the cost center owner in parallel mode. Enable the approval rule based on the amount. Enable the approval rule in parallel mode.

There is a requirement to pay an invoice immediately and not follow the approval hierarchy defined in the approval rule set. Can this scenario be implemented in Cloud Payables?. No, this requirement cannot be implemented using the standard approval rule. The payables supervisor can only override the approval rule. Yes, this requirement can be implemented using force approval. Invoice approval will complete only after all the approvers in the hierarchy complete their task of approvals.

An organization implementing Financials Cloud wants only their Atlanta office to make payments for all the other offices located in the US. What solution can you suggest?. Use only one Atlanta business unit for both procurement and payment. Use the service provider model for Payables. There is no direct solution using Financials Cloud. This requires a custom solution. Make cash payments outside the application.

Which two payables reports are built using BI Publisher?. Workflow Rules Report. Payables Invoice Register. Payables Payment register. Approval Group Report.

As an expense administrator in an organization, which process will you run to reimburse card issues?. Load corporate card transactions. Create corporate card issuer payment process. Submit the expense report. Manage corporate card programs.

You are assigned the task of determining the payment term due dates and discount dates for your invoice transactions. Which payment term type suits the requirement of paying 25% every quarter?. Cut Off Date. Months Ahead. Days. Fixed Date.

An organization has appointed two different auditors for each business unit. How will you assign the auditors to each of the business units?. Assign an Expense Auditor role to each auditor and associate the corresponding business unit on the Manage Data Access for Users page. Assign the auditors as owners on the Business Unit Set Assignment page. Use the segment value security rule to secure the access to the business unit. Use data access set to associate the business units to the Expense Auditor job role.

Which is true about the audit selection rule?. Business unit assignment is not mandatory for audit selection rules. In case of an audit violation, an auditor cannot remove the employee from the member list. The audit selection rule, if enabled when a specific expense audit template is used, determines which expense report is automatically selected for audit. The audit selection rule, if enabled, determines which expense report is automatically selected for audit.

The Payables Manager wants to know the difference between the subledger balances and general ledger balances for quick reconciliation. Which report should they choose to run?. Invoice Register. Payables and General Ledger Trial Balance. Payables to Ledger Reconciliation Report. Payables Aging Report.

Which is the correct invoice selection criterion in a payment process?. Use as many payment templates as possible. Manually select invoices. Create as few payment process requests as possible. Create a new payment process request for every batch or individual invoice.

Select any three seeded payment methods. Clearing. Check. Deposits. Electronic Funds Transfer.

A supplier invoiced two items but delivered only one. What is the best practice to handle invoicing in the application?. Create an invoice for both the items. Create an invoice for both the items and place a hold on the invoice. Create an invoice after all the items are received. Create an invoice for both the items and place an installment hold for the undelivered item.

A European company, which has a manufacturing unit in the US, wants to withhold tax for its US operations. At which three levels of an invoice can you withhold tax?. Receipt. Debit Memo. Invoice. Prepayment.

The payment process request has a processing option called "Stop processes for review." What is the function of this option?. The payment process will place a stop payment on the invoices selected for payment. The invoices selected in the payment process request have to be approved by an approver before they are processed for payment. The payment process will stop processing the invoices and the user will be asked to initiate payment from the beginning. The payment process request will wait for the payables user to review the payments and click the next action in the payment process request.

A customer implementing Expense Cloud does not want expense reports to be enabled for all their business units. Which option will you suggest to them?. The requirement can be partially set up by using the Manage Expense System option to select all business units only. The requirement is unavailable using standard setup needs workarounds. The requirement can be set up by using the Manage Expense System option to select specific business units. They can select specific business units by using expense report templates.

Your company wants to make a certain percentage of payment only at the end of the contract period. What can you do in the application to set this up?. Create standard invoices. Create a debit memo. Hold some invoices. Create retainage invoices.

As an implementer, you are about to define an approval rule. Which is a mandatory component of defining an expense report approval rule?. Expense Account. Currency Rate. Expense Type. Condition.

Which three credit card service providers are supported by Oracle Expenses?. Diners Club. JCB. Mastercard. Visa.

As an accounts payable supervisor, you run the Payables to Ledger Reconciliation Report and find a difference in the payables and accounted columns. What could be two reasons for the difference?. Unaccounted Payables invoice transactions. Subledger journals that are transferred or posted to general ledger. Unaccounted Receivables invoice transactions. A mismatch between the payable invoice transaction amount and the accounted amount.