2025 100% FREE 1Z0-1055-24–RELIABLE 100% FREE NEW EXAM PREPARATION | PDF ORACLE FINANCIALS CLOUD: PAYABLES 2024 IMPLEMENTATION PROFESSIONAL VERSION

2025 100% Free 1Z0-1055-24–Reliable 100% Free New Exam Preparation | Pdf Oracle Financials Cloud: Payables 2024 Implementation Professional Version

2025 100% Free 1Z0-1055-24–Reliable 100% Free New Exam Preparation | Pdf Oracle Financials Cloud: Payables 2024 Implementation Professional Version

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Oracle 1Z0-1055-24 Exam Syllabus Topics:

TopicDetails
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
  • Configuring Payables and Payments: This section assesses the skills of Implementation Consultants in configuring payables and payments within Oracle Financials Cloud156. It covers managing withholding and transaction taxes, configuring payables and payments, managing business units, managing sub-ledger accounting, and managing invoice and payment approvals1. These skills are vital for setting up and customizing the system to meet specific business requirements.

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Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions (Q21-Q26):

NEW QUESTION # 21
You are trying to use the Match in Full option for a purchase order, but your search for the PO is returning no results.
Which two are the reasons for this?

  • A. The match approval level is set to 4-way matching
  • B. The Supplier or Purchase Order is set up for self-billing
  • C. The Purchase Order is already partially matched to an invoice
  • D. The match approval level is set to 3-way matching

Answer: B,C

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Financials Cloud, the Match in Full feature allows users to create invoices by matching the full amount of a purchase order (PO) efficiently. However, certain conditions can prevent a PO from appearing in the Match in Full search results.
Analysis of Each Option:
A: The match approval level is set to 4-way matching
* Explanation: The match approval level determines the matching requirements between the PO, receipt, inspection, and invoice. A 4-way matching requires that the PO, receipt, accepted quantities from inspection, and invoice quantities all match within defined tolerances before payment approval. This setting, however, does not impact the availability of the PO in the Match in Full search results.
Therefore, a 4-way matching configuration is not a reason for the PO not appearing in the search results.
B: The Supplier or Purchase Order is set up for self-billing
* Explanation: Self-billing arrangements mean that the buyer generates the invoice on behalf of the supplier. In such scenarios, the Match in Full feature is not applicable because the invoicing process is handled differently. As per Oracle documentation, "Match in Full can't be used in the following circumstances:... A supplier or the purchase order is set up for self-billing." docs.oracle.com Therefore, if the supplier or PO is configured for self-billing, the PO will not appear in the Match in Full search results.
C: The match approval level is set to 3-way matching
* Explanation: Similar to 4-way matching, a 3-way matching requires that the PO, receipt, and invoice quantities match within tolerances before payment approval. This setting ensures that the goods received and invoiced align with the PO terms. However, the match approval level, whether 3-way or 4- way, does not affect the PO's availability in the Match in Full search results. Thus, a 3-way matching configuration is not a reason for the PO not appearing in the search results.
D: The Purchase Order is already partially matched to an invoice
* Explanation: The Match in Full feature is designed for situations where the supplier sends an invoice for the full amount of the PO. If a PO has already been partially matched to an invoice, it indicates that some portions of the PO have been invoiced, and the remaining amounts do not represent the full PO value. According to Oracle documentation, "Match in Full can't be used in the following circumstances:... The purchase order has already been partially matched to an invoice." docs.oracle.com Therefore, a PO that has been partially matched will not appear in the Match in Full search results.
Conclusion:
The two reasons preventing the purchase order from appearing in the Match in Full search results are:
* B. The Supplier or Purchase Order is set up for self-billing
* D. The Purchase Order is already partially matched to an invoice
These conditions make the Match in Full feature inapplicable, thereby excluding the PO from the search results.
Reference:
Oracle Financials Cloud Documentation - Overview of Creating Invoices Using Match in Fullhttps://docs.
oracle.com/en/cloud/saas/financials/24b/fappp/overview-of-creating-invoices-using-match-in-full.html


NEW QUESTION # 22
SIMULATION
MANAGE EXPENSE REPORT TEMPLATE
Task 1:
Create an Expense Report Template for the US1 Business Unit, where:
a. The effective start date is the current date.
b. The hotel expense type requires itemization and should include Internet, Room Rate, and Dinner.
c. The expense type is associated with the respective account
d. Card Expense Type Mapping is not enabled.
e. Company policy states that receipts
f. Users can indicate receipts are missing in their expense report and a warning should be displayed for any missing receipts.
g. All Expense Fields are optional.

Answer:

Explanation:
See the Explanation for Step by Step Solution
Explanation:
Task 1: Create an Expense Report Template for the US1 Business Unit
The following configurations need to be implemented:
✔ Effective Start Date: The current date.
✔ Hotel Expense Type: Requires itemization with Internet, Room Rate, and Dinner.
✔ Expense Type: Associated with the respective GL account.
✔ Card Expense Type Mapping: Not enabled.
✔ Receipts Policy: Users can indicate missing receipts, and a warning should be displayed.
✔ Expense Fields: All fields should be optional.
Step-by-Step Solution
Step 1: Navigate to Expense Report Templates
Log in to Oracle Financials Cloud with the Expense Manager or Financial Administrator role.
Navigate to Setup and Maintenance.
In the Search Bar, type "Manage Expense Report Templates".
Click on Manage Expense Report Templates.
Step 2: Create a New Expense Report Template
Click Create New Template.
Enter the following details:
Name: "US1 Business Unit Expense Report"
Business Unit: US1 Business Unit
Effective Start Date: (Set to current date)
Enable for Use: ✔ (Check this box)
Click Save.
Step 3: Define the Expense Type - Hotel with Itemization
Navigate to the Expense Types tab.
Click Add Expense Type.
Enter the following details:
Expense Type Name: "Hotel"
Expense Category: "Lodging"
Requires Itemization: ✔ (Check this box)
Under Itemization, click Add Itemization Categories:
Internet
Room Rate
Dinner
Click Save.
Step 4: Associate Expense Types with GL Accounts
Click on Edit Expense Type "Hotel".
Go to the Accounting section.
Select the appropriate GL Account for lodging expenses.
Repeat this process for other required expense types.
Click Save and Close.
Step 5: Disable Card Expense Type Mapping
Navigate to the Corporate Card Expense Mapping tab.
Ensure the "Enable Corporate Card Mapping" checkbox is unchecked.
Click Save.
Step 6: Configure Receipts Policy
Navigate to the Receipts tab.
Under Receipt Handling, set:
Company Policy: Employees must provide receipts.
Allow users to indicate missing receipts? ✔ (Check this box).
Action for Missing Receipts: Raise a Warning (so that expense submission is not blocked).
Click Save.
Step 7: Set Expense Fields as Optional
Navigate to the Fields Setup tab.
Ensure all Expense Fields are set to Optional.
Click Save and Close.
Step 8: Validate and Activate the Template
Review all configurations.
Click Submit and Activate.
Run the Validate and Deploy Expense Templates process to ensure all settings are applied.
Step 9: Testing the Expense Report Template
Simulate an Expense Report Submission:
Select Hotel Expense and enter details.
Verify if the system requires itemization (Internet, Room Rate, Dinner).
Submit without a receipt to check if a warning is displayed.
Ensure all fields remain optional.
Verify no corporate card expense mapping applies.
Expected Outcome:
✔ The Expense Report Template is successfully created for US1 Business Unit.
✔ Hotel expenses require itemization into Internet, Room Rate, and Dinner.
✔ Receipts are required, and a warning is displayed for missing receipts.
✔ GL Account mapping is correctly applied to each expense type.
✔ Card Expense Type Mapping is disabled.
✔ All fields are optional, allowing flexible data entry.
Conclusion
By following these steps, we have successfully created and configured an Expense Report Template that meets all business requirements for the US1 Business Unit.


NEW QUESTION # 23
Oracle Cloud currently offers two invoice scanning solutions: Integrated Imaging and Intelligent Document Recognition (IDR). Both solutions function similarly.
In which two ways do these invoice scanning solutions operate in the cloud?

  • A. Customers ask their suppliers to scan and email the invoice.
  • B. Customers cannot use invoice imaging in the Cloud.
  • C. Customers scan and store the invoice images on-premises and attach them during invoice entry.
  • D. Customers scan the invoice on-premises and email the images.
  • E. Customers ask suppliers to send electronic invoices.

Answer: A,D

Explanation:
Comprehensive and Detailed In-Depth Explanation:
Oracle Cloud's Integrated Imaging and Intelligent Document Recognition (IDR) solutions streamline the processing of supplier invoices by automating data extraction and invoice creation. These solutions support multiple methods for capturing and importing invoice images into the cloud system.
A: Customers scan the invoice on-premises and email the images.
Organizations that receive paper invoices can digitize them by scanning the documents on-premises. Once scanned, these images are emailed to a designated address provided by Oracle Cloud. The Integrated Imaging or IDR system retrieves these images from the email inbox, processes them to extract relevant data, and automatically creates invoices within the Payables module. This method ensures that paper-based invoices are efficiently integrated into the cloud system without manual data entry.
docs.oracle.com
C: Customers ask their suppliers to scan and email the invoice.
To enhance efficiency, customers can request that their suppliers scan physical invoices and send the digital images directly via email. These emailed invoice images are received by the designated email account associated with the customer's Oracle Cloud instance. The Integrated Imaging or IDR solutions then process these images, extracting the necessary invoice data and creating corresponding entries in the Payables system.
This approach reduces processing time and minimizes potential errors associated with manual data entry.
docs.oracle.com
B: Customers ask suppliers to send electronic invoices.
While encouraging suppliers to send electronic invoices (such as XML or EDI formats) is a best practice for streamlining invoice processing, this method does not involve the Integrated Imaging or IDR solutions, which are specifically designed for processing scanned invoice images. Electronic invoices are typically processed through different channels within Oracle Cloud, such as the Supplier Portal or electronic data interchange systems.
blogs.infosys.com
D: Customers scan and store the invoice images on-premises and attach them during invoice entry.
In this scenario, customers manually scan and store invoice images on their local systems and then attach these images during manual invoice entry into the Oracle Cloud Payables module. This process does not utilize the automated capabilities of the Integrated Imaging or IDR solutions, which are designed to handle the import, recognition, and processing of invoice images sent via email.
docs.oracle.com
E: Customers cannot use invoice imaging in the Cloud.
This statement is incorrect. Oracle Cloud provides robust invoice imaging solutions, namely Integrated Imaging and Intelligent Document Recognition, enabling customers to process scanned invoices efficiently within the cloud environment.
docs.oracle.com
By leveraging these solutions, organizations can automate the extraction of invoice data from scanned images, reduce manual intervention, and improve the accuracy and efficiency of their accounts payable processes.


NEW QUESTION # 24
As an Expenses Administrator, you can control which expense values you do not want to automatically populate on the Create Expense Item page. You have therefore created the profile option EXM_DFLT_FROM_PREV_EXPENSE at the user level and set it to N (No).
Which three values will no longer populate from a previous expense item when a user enters a new expense item?

  • A. Currency
  • B. Project and Task Number
  • C. Expense Location
  • D. Template

Answer: B,C,D

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Expenses, the profile option EXM_DFLT_FROM_PREV_EXPENSE determines whether certain fields on the Create Expense Item page are automatically populated with values from the previously entered expense item.
By default, when this profile option is set to 'Y' (Yes), the application carries over several fields from the last entered expense item to streamline data entry. These fields include:
* Date
* Template
* Expense Location
* Currency (both ledger and reimbursement currency)
* Company and Department
* Project Number and Task Number
However, when the profile option is set to 'N' (No) at the user level, the system stops carrying over certain fields from the previous expense item.
Fields That Will No Longer Auto-Populate:
* Expense Location - Users must manually enter the expense location for each new entry.
* Template - Expense templates (if used) will not be pre-filled from the previous expense item.
* Project and Task Number - Users must reselect the project and task number for each new expense entry.
Fields That Will Still Populate With Defaults:
* Currency - Defaults to the ledger currency as configured in Human Capital Management (HCM).
* Company and Department - These values will be retrieved from the user's default expense account setup in HCM.
Thus, the correct answer is: A, B, D because the Expense Location, Template, and Project & Task Number will no longer populate from a previous expense item when a user enters a new one.
References:
* Oracle Financials Cloud: Implementing Expenses


NEW QUESTION # 25
Adaptive Intelligence (AI), integrated with Oracle Payables Cloud, supports sophisticated data science that drives early payment discount offers.
Which of these is NOT a feature of early payment discounts?

  • A. The earlier the payment, the greater the discount.
  • B. Eligible discounts decrease on a sliding scale based on the supplier's discretion.
  • C. Variable annual percentage rate (APR), based on "days paid early," is used to determine the discount amount.

Answer: B

Explanation:
Comprehensive and Detailed In-Depth Explanation:
Oracle Payables Cloud, enhanced with Adaptive Intelligence (AI), offers a feature known as Early Payment Discounts. This functionality enables organizations to optimize their cash flow by taking advantage of discounts offered for early invoice payments.
Key Features of Early Payment Discounts:
* Variable Annual Percentage Rate (APR) Based on "Days Paid Early" (Option B):
* Explanation: The discount amount is calculated using a variable APR, which is determined based on the number of days the payment is made ahead of the due date. The earlier the payment is made, the higher the discount percentage applied.
Reference: Early Payment Discount Offers
The Earlier the Payment, the Greater the Discount (Option C):
Explanation: This principle aligns with the time value of money, where paying invoices earlier results in greater discounts. The discount decreases as the payment date approaches the invoice due date.
Reference: Early Payment Discount Offers
Clarification of Option A:
Eligible Discounts Decrease on a Sliding Scale Based on the Supplier's Discretion:
Explanation: While the discount offered decreases over time, this scaling is typically predefined in the payment terms agreed upon between the buyer and the supplier, rather than being adjusted at the supplier's discretion on a case-by-case basis. The terms are set during the establishment of the early payment discount program and are systematically applied, ensuring consistency and predictability in discount calculations.
Therefore, Option A is not a feature of the early payment discounts as implemented in Oracle Payables Cloud with Adaptive Intelligence.
References:
Early Payment Discounts
Early Payment Discount Offers
Once enrolled, a supplier discount is set and applies to all payments indefinitely, until supplier unsubscribes.


NEW QUESTION # 26
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