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

XYZ Supplier has third party relationships defined with ABC Supplier and ACME Corporation. However, when reviewing the invoice installments for XYZ Supplier the payables specialist is unable to override the remit-to supplier name and address on the Invoice installments. What is the reason for this?. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Invoice Options page for the business unit. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Common Options for Payables and Procurement page for the business unit. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Payment Options page for the business unit. The option 'Allow remit-to supplier override for third-party payments' is not checked in the Disbursement System Options page for the business unit.

An invoice for $1,000 USD and a credit memo for ($1,100) USD are due for payment. What are the two outcomes if you chose the “Apply Credits Up to Zero Amount” option when submitting a Payment Process Request? (Choose two.). Both the invoice and the credit memo are included in the Payment Process Request. Neither the invoice nor the credit memo is included in the Payment Process Request. Both the invoice and the credit memo are fully paid. Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.

You want to route invoices to three different approvers at the same time, and only one approver needs to approve the invoice. Which approval ruleset should you use?. InvoiceApproversSingleParticipantlnParallelMode. InvoiceApprovers. InvoiceApproversParallelParticipantlnParallelMode. InvoiceApproversFYIParticipantlnParallelMode.

Which two statements are true related to configuration package? (Choose two.). You can export and import the custom roles from Oracle Identity Manager. You can export and import the allocation rules from the allocation manager. You can export and import the approval rules from the approval management engine. You can export and import selected business units. You can export and import selected business object services.

Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?. The user needs to specify which payment term to use. The payment term of the purchase order overrides the invoice payment term. The payment term of the invoice overrides the purchase order payment term. The purchase order payment term cannot be overridden. The user needs to manually change the payment term on the invoice to match the purchase order payment term.

An invoice for $200 USD and a credit memo for $225 USD are due for payment and the “Apply credits up to zero amount” option is enabled for the payment process request. Which statement is correct?. The payment process request pays only $200 USD alone. The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates a payment for $0 USD. The payment process request creates a refund for $225 USD and leaves the invoice unpaid. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.

You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero. Both the invoice and the credit memo are paid and a refund of $25 USD is created. Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD. Both the invoice and the credit memo are selected and the Payment Process Request requires attention.

Your company policy requires imaged receipts for expense reports. Which two statements are true about the association of a receipt to an expense report? (Choose two.). Employees are not reimbursed for expense report expenditures until missing or overdue imaged receipts are submitted. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report. Receipts are not required if the expense item falls within Per Diem Rates. An expense report may require original, imaged, or both types of receipts.

A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated. Which two statements are true? (Choose two.). The invoices are placed on payment hold. The status of each payment in the payment file is Terminated. The status of the payment file is Terminated. The status of each payment in the payment file is Cancelled and the related documents are available for future selection. The status of the payment file is Cancelled.

After you submitted a Payment Process Request, you noticed errors. You want to void the payments. Identify two statements that indicate when it is not possible to void a payment. (Choose two.). A payment that pays a prepayment that has been applied to an invoice. A payment that has already cleared the bank. A payment that has been accounted and posted to General Ledger. A payment with the status of Issued. A payment for an invoice with an associated Withholding Tax invoice.

You need to have an invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage. Select two methods to achieve this. (Choose two.). Configure Subledger Accounting rules to allocate costs. Define a distribution set and assign it manually to the invoice. Choose the ‘All Lines’ option from the Allocate menu in the invoice line area. Define a distribution set and assign it to the supplier.

Which three are valid reasons why you cannot close your Payables period? (Choose three.). Bills payable requiring maturity. Unaccounted invoices and payments. Suppliers on payment holds. Unapplied prepayments. Incomplete payment files.

Which three are valid reasons why you cannot close your Payables period? (Choose three.). Suppliers on payment holds. Bills payable requiring maturity. Unapplied prepayments. Open intercompany transactions. Unaccounted invoices and payments.

Which method can you use to route payment approval rules?. Approval Groups. Sequential. Both Parallel and Sequential. Parallel. Serial and FYI (For Your Information).

Which two statements are true when you are using the Intercompany Reconciliation Reports? (Choose two.). You must run the Prepare Intercompany Reconciliation Reporting Information process. The reconciliation period summary report will not show the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction. The reports will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature. The reports will include Ledger balancing lines generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance. You can drill down on the links in the Period Summary report to view the balances by Intercompany Organization.

You are using the Payable’s Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to Mar 31st. Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?. On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability 12,000. On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000 On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and then On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000 On Feb 28th, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000 On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000. On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepared Expense for 4,000 On Jan 10th, Debit Rental Expense for 12,000 and Credit Cash for 12,000.

Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?. Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers. Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification. Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab. Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.

While entering an expense report for your corporate card transactions, you notice that the conversion rate defined in the Manage Conversion Rates and Policies page is not used. What is the reason?. You did not define conversion rates for your business unit. You did not specify a default expense template. Only cash transactions use those settings. You did not define conversion rates in the General Ledger Cloud.

When submitting the Payables to General Ledger Reconciliation report, the extract did not select any data. What should you check?. Make sure you assign an Account parameter when running the extract to include liability accounts. Make sure you specified a Business Unit in the parameters when running the extract. Make sure you enabled the Reconciliation flag to all of your liability natural account values. Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values.

Which dashboard or workarea displays the Scanned Invoices region for invoices processed through the Payables Integrated Imaging solution?. Manage Invoices page. C-level executives. Invoices Workarea only. Payables Dashboard only. Payables Dashboard and Invoices Workarea.

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?. March 15th. January 15th. April 15th. February 15th.

A Bill Payable document was paid but has not yet matured. What is the status of the payment?. In transit. Cleared. Negotiable. Issued.

Identify three scenarios where you are not allowed to cancel an invoice. (Choose three.). Prepayments were applied to the invoice. An accounting entry has been created for the invoice. The invoice is validated. The invoice is fully or partially paid. The invoice was adjusted by a credit or a debit memo.

You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?. Transfer the data to General Ledger. Validate the invoice in Payables. Create a payment process request in Payments. Create Accounting for the invoice in Payables.

You purchased a computer from Company A for 2000 USD. Company B ships you the computer with freight charges of 100 USD. You would like the cost of the computer to include those freight charges. How can you achieve this?. Choose Match to Receipt. Enter the Invoice manually and add the freight line. Choose to Match to Receipt Charges. Choose to Match to Invoice Lines. Choose to Match in full to the Purchase Order.

An installment for $2,000 USD is due for payment on July 31, 2018. The installment has two discounts: the first discount date is June 15, 2018 for $150 USD and the second discount date is June 30, 2018 for $50 USD. You submit a Payment Process Request with the following criteria: Payment Date = June 20, 2018 Pay Through Date = July 30, 2018 Date Basis = Due Date What will be the resulting status of the installment and discount?. The installment is not selected because the discount dates are before the Pay Through Date. The installment is selected and no discount is applied. The installment is not selected because the due date is after the Pay Through Date. The installment is selected and a discount of $50 USD is applied. The installment is selected and a discount of $150 USD is applied.

A company has a requirement to default the disbursement bank account when submitting a Payment Process Request. Which actions will accomplish this? (Choose two.). Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account. Define the Disbursement Bank Account to the Payment Method in payment default rules. Define the Disbursement Bank Account to every supplier. Create a Payment Process Request template that includes the Disbursement Bank Account. Assign the Disbursement Bank Account to users to have the payment process default the bank account.

Select three reasons why you cannot close your Payables period. (Choose three.). open intercompany transactions. unapplied prepayments. suppliers on payment holds. bills payable requiring maturity. unaccounted invoices and payments.

You need to create a recurring expense for one of your regular expenses. Which three are frequencies that you can choose for these types of expenses? (Choose three.). Weekly. Biweekly. Monthly. Bimonthly. Annually.

You have created an approval rule as follows: Rule 1: If the invoice amount > $1000, route it to User 1. Rule 2: If the invoice amount < $1000, auto approve it. Now, the user creates an invoice for $1000 and routes it for approval. What will happen?. Invoice will not be processed. The system will issue an error message after the approval has been initiated. Invoice will be sent to User 1 for approval. Invoice will be auto-approved.

The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action. (Choose two.). The expense report status remains Pending Payables Approval. The expense report is routed back to the approvers. The audit can be completed before the requested information is received from the employee. The employee must resubmit the expense report.

You are voiding a payment and have selected Cancel as the Invoice Action. After performing the void, you notice the invoice is not cancelled but has an Invoice Cancel hold on it. What is reason for this?. The invoice has been partially paid by another payment. The invoice date is not in the current open period. The invoice is already on hold. The invoice accounting date is not in the current open period.

What is the result of voiding a payment?. A stop payment request has been initiated to the bank. A bills payable payment was created but is not yet matured. The payment is reconciled to the bank statement. The payment is no longer valid.

You want your expense auditors to expense reports for specific business units. How do you do this?. Create a custom duty role and assign the data roles to each auditor. Create your own audit extension rules that correspond to the business unit. Make auditors the managers of the corresponding business unit to route expense reports properly. Assign the expense auditors job role and business unit security context and value to the user.

You want your expense auditors to expense reports for specific business units. How do you do this?. Create a custom duty role and assign the data roles to each auditor. Create your own audit extension rules that correspond to the business unit. Make auditors the managers of the corresponding business unit to route expense reports properly. Assign the expense auditors job role and business unit security context and value to the user.

You want your expense auditors to expense reports for specific business units. How do you do this?. Create your own audit extension rules that correspond to the business unit. Assign the auditor `s specific data roles for the corresponding BU. Create a custom duty role and assign the data roles to each auditor. Make auditors the managers of the corresponding business unit to route expense reports properly.

Your customer matches their invoices to a purchase order and have noticed that the payment terms are defaulting from the order. For some suppliers, they would like to use the payment terms from the supplier site. How can the customer achieve this?. Enter the payment terms in the Manage Payment Options page so they default onto the invoice. Enter the payment terms at the Supplier level so they default onto the invoice. Enter the payment terms at the supplier site level so they default onto the invoice. Manually override the payment terms that have defaulted from the purchase order for those suppliers. Enter the payment terms in the Manage Invoice Options page so they default onto the invoice.

You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?. Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger’s Manage Journals page and post the associated invoice journal entry. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option. Enter and post a manual journal entry directly into the general ledger. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.

You are using both Procurement and Financials. You want the system to automatically accrue uninvoiced receipts. Select two true statements. (Choose two.). For period end accruals, accounting is created at material receipt or at delivery to a final destination. For period end accruals, the invoice accounting debits the expense account and credits the liability account. For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account. For period end accruals, the invoice accounting for inventory items debits receipt inventory and credits the uninvoiced receipts.

Your customer has implemented English as base language and French as a local language. The customer’s bank needs the payment file to be sent to them in French. What is the relevant step to do this for preparing the payment template?. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with country locale. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with English locale. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder, under the templates region. Use English locale and generate the XLIFF file. Then upload the file back under the translated region.

Which three reports are generated by the export setup data process? (Choose three.). Exported Business Object Report. Process Results Report. Process Results Summary Report. Process Results Detail Listing Report. Setup Data Report.

What data can you find in an Oracle Transactional Business Intelligence subject area attribute column?. values that are organized into parent-child relationships. data that is metric and can be added up or aggregated. information about a business object with values that are dates, Ids or text. data that provides a measure of something.

You have invoices with distributions across primary balancing segments that represent different companies. What feature should you use if you want the system to automatically balance your invoice’s liability amount across the same balancing segments on the invoice distributions?. Payable’s Automatic Offset. Intercompany Balancing. Subledger Accounting’s Account Rules. Suspense Accounts. Payables’ Allow Reconciliation Accounting.

Which statement is true about selecting a bank account on the Create Payment page?. LE on the bank account should be different from the LE on the invoice. Bank account must match the supplier’s bank account. Users can pick any bank account as long as the bank account is tried to the business unit. There is no relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system. LE on the bank account should be equal to LE on the invoice.

During your business trip to the UK, you took a taxi ride and paid for it by using your personal Visa credit card. While entering your expenses, you get a warning that a different conversion rate was applied to the taxi expense by Visa that the one used by your company. How do you handle this situation?. Do not enter the taxi expense and call your Finance Department so that they can make changes in the conversion rate settings and you do not violate the allowable limit. Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate. Use the corporate-defined conversion rate even if it means you will not be reimbursed fully.

Which attributes on the payables invoice can be used during approval rule creation?. company segment, cost center segment, supplier, and Attribute 1 on the invoice line. company and cost center segment only. supplier only. cost center segment and supplier only.

Which three are supported image formats for the Integrated Imaging solution? (Choose three.). RTF. JPEG. TIFF. XLS. PNG.

The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? (Choose three.). A. All related interest invoices are reversed if previously created. B. Any previous accounting and payment records for an invoice are reversed. C. All related withholding tax invoices are automatically voided. Any realized gain or loss previously calculated is reversed. Voiding the payment automatically places an invoice on hold.

You want to route invoices to three different approvers at the same time and only one approver needs to approve the invoice. Which approval ruleset should you use?. InvoiceApproversFYIParticipantInParallelMode. InvoiceApproversSingleParticipantInParallelMode. InvoiceApproversParallelParticipantInParallelMode. Invoice Approvers.

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?. Set the validation failure handling for documents to “show errors.”. Set the validation failure handling for payments to “stop process for review.”. Set the validation failure handling for payments to “show errors.”. Enable debug for the payment format program.

Which invoice types can be included in the Create Payment flow?. Standard, Credit Memo and Debit Memo. Standard, Credit Memo and Customer Refund. Standard, Credit Memo, and Invoice Request. Standard, Debit Memo and Customer Refund.

A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?. Manage Invoice Options and Manage common options for Payables and Procurement. Manage Payable Options and Manage Invoice Options. Manage Invoice Options and Manage Procurement agents. Manage common options for Payables and Procurement and Manage Procurement agents. Manage Payment Options and Manage common options for Payables and Procurement.

Which component is not included in the security architecture for credit card data and bank account data encryption?. Oracle Wallet. Supplier master encryption key. Sensitive data encryption and storage. Sensitive data encryption and storage. Payments subkeys.

You have two business units, Vision Operations and Vision Services.How can you enable expense auditors to audit expense reports for specific business units?. Assign the Expense Auditor as the owner of each business unit on the Manage Business Unit Set Assignments page. Assign the Expense Auditor job role to each auditor and associate the business unit to the role by using the Manage Data Access for Users page. Assign the Expense Auditor job role to each auditor and use segment value security rules to secure access to the business units. Assign the Expense Auditor job role to each auditor and use a data access set to associate the business unit to the role.

You have two business units, Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?. Assign the Expense Auditor job roles to each auditor. Assign the Expense Auditor as the owner of each business unit. Assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles to each Expense Auditor. Use segment value security rules to secure access to business units.

Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run? (Choose two.). For the Legal Jurisdiction, Legal function: “Generate intercompany invoice” should be assigned. Schedule create accounting for the intercompany process. Supplier site primary pay flag and customer account bill to primary flag should be enabled. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables. Manual Approvals should be allowed for the transaction type.

While processing an expense report, the system placed a payment hold on the expense report. What are two ways to release payment holds? (Choose two.). The employee can manually release the hold. Payables Manager can release payment holds in Payables. The employee’s supervisor can manually release the hold. The expense auditor can manually release the payment hold at his discretion. Based on the receipt status, the Expenses program can automatically release the payment hold once it detects that receipts are received or waived.

In what order should the import process be run when importing suppliers?. Supplier, Supplier Site Contacts, Supplier Site, Supplier Site Assignment. Supplier, Supplier Address, Supplier Site, Supplier Site Assignments. Supplier, Supplier Site Assignment, Supplier Site, Supplier Contacts. Any order.

Which two statements are true about the Invoice Validation process? (Choose two.). opens the relevant accounting period. validates project information. updates supplier balances. creates tax lines and distributions. creates accounting entries in draft.

You entered an invoice of 12,000 and paid it for Office Suppliers. The payment was never received by the supplier, and you decide to return the entire order. What should you do?. Cancel the invoice, which debits the liability and credits the expense. Issue a credit memo, which will debit the liability and credit the expense. Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense. Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.

Identify two ways the invoice imaging solution works in the Cloud. (Choose two.). Customers cannot use invoice imaging in the Cloud. Customers scan and store the invoice images on-premise and attach them during invoice entry. Customers ask their suppliers to scan and email the invoice. Customers ask suppliers to send electronic invoices. Customers scan the invoice on-premise and email the images.

What are the two advantages of using a spreadsheet for correcting invoice import errors? (Choose two.). identification of errors with clear error messages at the invoice header and line levels. ability to enter a high volume of invoices via a spreadsheet. ability to correct errors and re-import invoices directly from a spreadsheet. identification of errors with clear error messages at the invoice header level only. ability to correct errors within the spreadsheet and send invoice corrections for approval.

Which three types of payments can you make if you have access to Disbursement Process Management Duty? (Choose three.). Reimbursement of employee expense reports. Employee advances. Supplier payments. Customer refunds. Ad hoc payments.

You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?. Needs Revalidation. Not Validated. Not Required. Imported. Validated.