Oracle Financials Cloud: Payables 1Z0-1055 (5)

Which two activities can you perform after creating an implementation project functional setup manager?. Define new functional areas. Assign tasks to users. Assign due dates to tasks. Request new features.

Which two statements are true about the rapid implementation task list?. It includes all optional setup task. It includes setups steps that are required by most user. It includes all 900 plus setup tasks. It is used to streamline setup configuration to focus on critical setup steps.

Which two options does the functional setup manager offer for setup data migration?. Migrate setup data using the ETL tool. Migrate setup data from offering and functional areas. Migrate setup data from implementation projects. Migrate setup data manually.

What are three ways of accessing implementation tasks in functional setup manager?. Using the functional area. Using getting started. Using the FSM search feature. Using a implementation project. Using the FSM infolet.

Is the following statement true or false: audit history is enabled by default and requires no configuration to use. True. False.

Which three of the following prepackaged reports can be downloaded o reviewed online from the setup and maintenance page?. Associated functional areas. Related enterprise applications. Associated features. Related business functions. Related business objects.

Setup data can be exported from one instance and imported into another. What is the name of the object that is used for importing the data. A configuration package. An export package. A setup data package. An import package.

What three job roles are predefined to access functional setup manager?. Application implementation consultant. Application implementation administrator. Functional setup manager. It manager. Application implementation manager.

Which of the three following fields can be used in usr name generation rules?. Location. FirstName.LastName. Email. Person number. Lastname.department.

In terms of data security, which of the three following data objects are examples of data scopes (Security Contexts)?. Reference data sets. Business units. Legal entities. Asset books. Suppliers.

What is the difference between a job role and a duty role?. There are predefined job roles, but you are required to create duty roles. A job role and a duty role are the same. A duty role represents the job you hire a worker to perform. whereas a job role represents a group of tasks belong to a job. A job role represents the job you hire a worker to perform, whereas a duty role represents a groups task that belong to a job.

Which two of the following statements about a duty role are true?. Duty roles represent logical groups or task that are performed in a job. A duty role cannot inherit aggregate privileges. Duty roles are not assigned directly to users. You cannot create custom duty roles.

Which role do you need to be provisioned with to access the security console?. Billing manager. Security console administrator. It security manager. Application implementation consultant.

Which three tasks can be completed by using the security console?. Configure offerings. Lock or unlick user accounts. Define password policies. Personalize the home page for a user. Create user defined roles.

Shelly wants to create her own security role for a financial auditor. What three functions of the security console could be helpful in role creation?. Comparing role. Copying role. Merging roles. Editing role. Purging and archiving roles.

When defining the enterprise structure, divisions are considered structure, division are considered optional If required, in what two ways can they be configured?. As sales departments. As a reporting hierarchy of cost centers. As location addresses. As segment in the chart of accounts with a natural account segment label. As a segment in the chart of accounts with a second balancing segment label.

Which four enterprise structure objects have been used to model the vision company?. Primary ledgers. Business units. Operating units. Legal entities. Head office. The enterprise.

Which three of the following actions does the manage geographies task contain?. Geography topography. Geography distances between locations. Geography hierarchies. Geography structures. Geography validations.

Which three of the following geography types are included in the vision geography structure designed for the USA?. Zip code/postal code. State. Province. Town. Country.

Which of the following objects need geographical information?. Validate addresses. Sales territories. Financial reports. Calculate taxes. Applied receipts.

If you are to implement fixed assets and expenses what chart of accounts label is no longer optional?. Second balancing segment label. Cost center label. Local label. Third balancing segment label. User-defined label.

Your company is required to report using US GAAP practice an international financial reporting standard (IFRS). What is the minimum number of ledgers that you would need to configure?. Two (a secondary ledger and a reporting currency). Three (a primary, reporting currency, and secondary ledger). One (a primary ledger). Two (a primary ledger and a secondary ledger).

Which of the following are predefined reference data sets?. Common and LE. Enterprise and Shared. Enterprise and Collection. Enterprise and Common.

XYZ company would like to have a central payment function at their US headquarters. In which of the following ways can this be achieve? (choose two). Use data access sets associated with the BU. Use BU security. Use reference data sets associated with the BU. Use the service provider model. This is not possible as a BU can only process their own transaction.

In the payment services model, what is a BU that works solely as an outsourced payment processing unit known as?. Outsourced. Self service. Self-service outsourced. Dedicated. Self-service and dedicated.

Which of the following segment labels are required if you are implementing GL, Assets and Expenses?. Balancing Segment and Natural Account. Balancing Segment, Natural Account and Cost Center. Balancing Segment, Natural Account and Cost Center and Intercompany. There are not required segments labels.

Which of the following is true for an Enterprise in Oracle Financials Cloud? (choose three). Has LEs that incur transactions in subledgers by BU. Only has one LE. Has LEs that are represented by Balancing Segment Values in the Chart of Accounts. Consists of LEs under common control and management.

You are Implementing Oracle Financials Cloud and plan to go live at the end of the current year. You have been asked to recommend the start date for the Accounting Calendar. What will your recommendation be?. Have the start date as one period before the star date of your ledger. You can have any star date as it can be changed once you start using the system if necessary. Have the start date a full year before the start date of your ledger. Have the star date of the calendar the same as the star date of your ledger.

How many balancing segments can be defined for a Chart of Accounts?. One. Three. Two. Zero.

What would you use to enable the sharing of setup data, for example, Payables Payment Terms across BUs?. A data access set. A ledger set. A legal entity set. A reference data set.

You notice that the deployment status of the accounting flexfield is edited. What is the reason of this? (choose two). Changes have been made to the structure, structure instance or values sets. The flexfield definition has not been deployed. The flexfield has been deployed to a sandbox. The flexfield has been modified through a patch. The deployment attempt failed.

Identify the different ways in which Legal Entities can be associated to the ledgers (choose two). LEs have no relationship to a Ledger. One LE to many Ledger. One LE to one Ledger. Multiple LEs to one Ledger.

Which of the following are supported bank statement formats in Oracle Financials Cloud (choose Three). ISO20020. SWIFT MT940. EDIFACT FINSTA. IBAN. IFCS.

Default distribution for the Liability, Prepayment, and Bills Payable accounts can be defined at multiple places. Which of the followings statements is true about the source of default distributions that takes precedence, when creating an invoice?. Default distribution for Liability, Prepayment and Bills Payables defined at Suppliers Site level take precedence over others. Default distributions for Liability, Prepayment and Bills Payables defined at BU level take precedence over others. Default distribution for Liability, Prepayment, and Bills Payables defined at the ledger level take precedence over others. Default distribution for Liability, Prepayment, and Bill Payables defined at Supplier level take precedence over others.

Identify the main components to configure Payment System connectivity (choose three). Invoice group. Disbursement payment file format. Distribution set. Transmission configurations. Payment systems.

When using payment method defaulting rules, based on which conditions can a payment method default onto a transaction document? (choose two). Business Unit. Bank Account. Ledger. Payee Locations.

You have a requirement to have all Payment process Request for a particular bank account approved before the payments are sent to Suppliers. What are the necessary steps to enable this?. Enable payment approval in the Manage Invoice Options and defined approval rules. Enable payment approvals for the required bank account and define approval rules. Enable payment approval in the disbursement system options and define approval rules. Enable payment approval for suppliers in the Procurement Options and define approval rules.

You would like Payables to automatically balance invoice and payment distributions that cross primary balancing segment values. What would you enable to achieve this?. Intercompany accounting. Self-Billing Functionality. Automatic Offsets. Suspense Accounting.

Which of the following can be set as the accounting date basis for invoices? (choose three). Goods Received or Invoice Date. Invoice Date. System Date. Discount or Due Date.

You have created a payment term and want to be able to use it in all of your business units. What must be done in order to achieve this?. Assign it to legal entities that the BUs belongs to. Assign it to the reference data sets associated with each BU. Assign it to the Enterprise Reference data set. Assign it to the Common reference data set as these values will be seen by all Bus.

Which tool is used to create Payment File Formats?. BI publisher. Smart view. Financial Reporting Studio. OTBI.

You have an organization in the UK that has one LE and four BUs. Three of the BUs must use the same tax setups, but the other BUs is exempt from VAT. How would you configure your Regime to allow this option?. Create one regime but choose Common Configuration with Party Override as the configuration option. Create a separate regime for the business unit that is exempt of VAT. Create one regime but choose Parent First Party with Part Overrides as the configuration option. Create one regime but choose Party Specific Configuration as the configuration option. Create one regime but choose Common Configuration as the configuration option.

Identify the correct statements with regard to Supporting References. (choose Three). Supporting Reference balance are transferred to GL during the create accounting process. Supporting references are mandator. Supporting Reference are used to store additional source information about a subledger journal entry. Supporting References can calculate or maintain a balance. Supporting References balances are not transferred to the GL.

XYZ Corporation wants to retrieve the Cost center segment value based on Supplier Type. Which of the following would you use to achieve this?. Ledger Set Rule. Description Rule. Mapping Set. Supporting Reference.

Which is the appropriate level to share tax content among LEs and BUs?. Tax Status. Tax Jurisdiction. Party Tax Profile. Tax regime.

Identify the four groups that Tax Determining Factors fall into. Party, Product, Place, and procedure. Principle, Product, Place, and Process. Party, Product, Platform, and Process. Party, Product, Place, and Process.

In Oracle Tax, organizations that provide services that are exempt from VAT should set Tax Recovery Rate as: 0%. 100%. 50%. Depends on tax jurisdiction.

Which of the following task are optional when defining Oracle Tax (choose two). Manage Tax Rules. Manage Party Tax Profiles. Manage Tax Statuses. Manage Tax Regimes. Manage Tax Rates.

Which of the following elements are required for an Accounting Method? (choose three). Journal Entry Rule Sets. Mapping Sets. Account Rules. Journal line rules. Supporting References. Description Rules.

Journal Line Rules can be used with subledger Journal Entry Rules, which have the same: Status. Event type. Event class. Chart of account.

Which of these is the category in which invoices entered using the Supplier Portal fall?. Electronic invoices. Automated invoices. Manual. Self Service invoice.

In oracle Payables, which of the following are invoice Types (choose three). Prepayment. Expense report. Debit memo. Standard. Receipt.

Which tasks are performed by invoice validation (choose four). Calculates withholding taxes. Sends the invoices for approval. Calculate taxes. Checks for advance paid to the supplier. Applier holds where applicable. Check’s variance and tolerance limits.

What is the correct definition of a payment request?. A request from Oracle Expenses or Oracle Receivables to disburse funds to a payee that is not a supplier. An advance payment to a supplier. A payment to a Tax Authority for Withholding Tax. A request for payment of interest on overdue invoices for a supplier.

Which of the following statements are true for suppliers (choose two). Suppliers are assigned to a business Unit. Suppliers are part of the trading Community Model. Suppliers Cannot be shared across Bus. Suppliers are global entities.

You have a requirement to change the payment method for an invoice. Where would you make that change?. Installments. Lines. Header. Distributions.

You need to enter a Supplier and have found that you do not have access to the supplier setups. You have the relevant Supplier roles assigned to your user. What are you missing?. You need to be defined as a Procurement Agent. You need to be defined as a Supplier Requester. You need to have the System Administrator assigned. You need to be defined as a buyer.

You have an invoice that requires immediate payment, but it is awaiting approval. Assuming the relevant setup has been completed what option, can you choose to enable payment of this invoice?. Cancel Approval. Waive Approval. Suspend Approval. Override Approval. Force Approval.

In Oracle Cash Management, bank account names must be unique across: Legal entities. Uniqueness is not required. The system. Business units.

In Oracle Cash Management, which of the following are examples of Matching Tokens? (choose three). END. LITERAL. X. START. CHARACTER.

In Oracle Cash Management, if no date or amount tolerance is defined in the Bank Statement Reconciliation Tolerance Rules, then: For reconciliation, the date or amount requires an exact match. Reconciliation would assume an exact match for date, but takes the default tolerance for amount. Reconciliation would take the default tolerance for date and exact match for amount. Reconciliation would take the default tolerance for both date and amount.

In Oracle Cash Management, what does the “Cash To General Ledger Reconciliation Report” do. Lists the transactions that reconciled in Cash Management, but are not accounted in GL. Lists all transactions that are accounted in GL and are reconciled in Cash Management. Lists the transactions that are accounted in GL, but aren’t reconciled in Cash Management. Lists the transactions that are reconciled in Cash Management and are accounted in GL, but with amount differences outside of defined tolerance.

You are trying to assign a business unit to a bank account, but you cannot see the required business unit in the list of values. What are the possible reasons for this? (choose two). The business unit does not have the payables business function. The business unit does not have the cash management business function. You do not have access to that specific business unit. The business unit does not use the same ledger as the legal entity that owns the bank account.

In Oracle Cash Management, the same bank account can be assigned to which applications (choose three). Procurement. Payroll. Payables. General ledger. Receivables.

Bank statement transaction codes are the internal codes that used in bank statement lines to identify type of transaction. Which of the following statements are correct with regard to “transaction codes” (choose two). Transactions codes are used on Parse Rule Sets, bank Statement Transaction Creation Rules, and bank Statements. You cannot edit predefined bank statement transaction codes. Transaction codes are typically alphanumeric. When you create a bank transaction code, it will be available for all bank accounts.

In Oracle Cash Management, which of the following statements is true with respect to bank accounts. Bank accounts are owned by business units. Bank accounts are independent of legal entities and Bus. Bank accounts are owned by ledgers. Bank accounts are owned by Les.

In the scanned infotile, the invoice are grouped in which of the following categories by days (choose three). 15+. 8-10. 8-14. 0-7.

What type of reports can you find in Payables (choose two). Payables Reporting Tool Reports. Smart view Analysis. Oracle Transactional business Intelligence Analysis. Financial Reporting Studio Reports. BI Publisher Reports.

Which if the following subject areas will you use for real time distribution information for prepayments applied to standard invoices. Payables Invoices-Transactions Real Time. Payables Invoices- Prepayment Applications. Payables Invoices-Prepayment Applications Real Time. Payables Invoices-Transactions.

The “Payables To Ledger Reconciliation Report” is used for: (choose two). Listing all journals entered in General Ledger. Facilizing the reconciliation of accounting and transactional data recorded in Payables and Oracle Fusion Subledger Accounting. Listing the journal posted to the general ledger for open balances. Listing all invoices entered in Payables in a particular period.

Which of the following are infotiles that you can find in the Payables invoices work area? (choose Three). Scanned. Recent. Import errors. Unaccounted. Holds.

Oracle Payables provide reports for which of the following areas? (choose six). Prepayments. Invoices. Payments. Bank Information. Income tax and withholding. Payment method. Period close. Payables to ledger reconciliation.

A Payment Process Request was submitted. Subsequently, the user realized that there are some errors in the payment file. The payment process was terminated by terminating the payment file. Which three statements are true?. The application sets the status of the payment file to terminated. The application sets the status of the payment file to Canceled. The application sets the status of each payment in the payment file to Canceled. The application sets the status of each payment in the payment file to terminated. The application informs the source product of the terminated documents payable, unlocks the documents, and resets their status so that the documents are available for future selection.

A company has a requirement to default the disbursement bank account during the payment process request. Which two actions will accomplish this?. Create a payment Process Request template with the disbursement bank account so that it becomes the default. Define the Disbursement Bank Account at the user level; the payment process derives the disbursement hank account associated with the user. Define the Disbursement Bank Account at the Business Unit level; the payment process derives the disbursement hank accounts based on the business unit. Define the Disbursement Bank Account in the Payment Method; the payment process derives the disbursement bonk accounts based on the Payment Method. Define the Disbursement Bank Account in the Payment Process Profile; the payment process derives the disbursement bank accounts based on the Payment Process Profile.

What is the status of invoice when they are interfaced from FBDI. Never Validated. Not Validated. Validated.