Oracle Financials Cloud Receivables 1Z0-1056-25

In Oracle Cloud Receivables, reference data sharing allows organizations to share common setup data without unnecessary duplication. Which reference data sharing method is used to control the visibility of payment terms by business unit at the time of transaction entry?. Assignment to multiple sets, allowing no common values. Assignment to one set only, no common values allowed. Assignment to one set with common values. Assignment to specific business units.

You are an implementer working on data migration project for a company implementing Oracle Cloud Receivables. You are responsible for ?? accounts. Which two statements accurately describe the relationship between parties and customer accounts in Oracle Cloud Receivables?. A party can be associated with multiple customer accounts, reflecting diverse business relationships. A customer account can be associated with multiple parties to allow shared ownership across organizations. Each party can have only one dedicated customer account, ensuring a direct and exclusive relationship. Customer accounts are unique entities, each linked to a specific party for data consistency. Customer accounts can have reciprocal relationships, enabling shared billing and payment processes.

A global consulting firm has implemented Oracle Cloud’s automation for handling customer advance payments. What is a key business benefit the company can expect from the feature in their receivables process?. Prepayments are automatically refunded when the associated sales invoice is generated. Prepayments are automatically posted to revenue accounts, ensuing early income recognition. Receivables accounting is simplified by bypassing subledger rules and posting directly to the general ledger. Prepayment invoices are efficiently generated and applied to sales invoices, improving financial accuracy.

As an Oracle Implementation Specialist at a consulting firm, you are working with a multinational corporation, ABC Enterprises, to optimize its financial processes using Oracle Cloud Applications. ABC Enterprises (???) and a complex network of suppliers, and they aim to enhance their accounts receivable management. How can the implementation of Oracle Cloud Receivables, integrated with the Trading Community Model (TCM), benefits ABC particularly in maintaining its customers and suppliers (?)?. TCM facilitates data sharing and communication between customers and suppliers. TCM ensures that customers and suppliers adhere to predefined terms and conditions. TCM provides a centralized platform for managing all customer interactions. TCM enables the creation of one entity being used for multiple purposes in the cloud applications.

A company is preparing to validate its tax setup before applying it to live transactions. The finance team wants to ensure that tax rules are correctly configured and functioning as expected. When should you use the Tax Simulator in Tax Management and which task allows you to access it?. During tax audit preparation, access the Tax Simulator via the View Tax Lines button on the Manage Taxes page. Before going live with a new tax configuration, utilize the Manage Simulator Transactions task to test tax rules. When implementing new tax regulations, use the Manager Tax Rules task to simulate tax calculations. While troubleshooting tax calculation errors, open the Tax Simulator from the Tax Determination Process menu.

In a retail business, you aim to map sales transactions to GL accounts based on product categories and customer types. How can you leverage the Oracle Subledger Accounting Engine to accomplish this efficiently?. Description Rules to configure journal entry descriptions to include product and customer details for better financial reporting. Supporting References to track transaction attributes for analysis and reporting without directly impacting GL account assignment. Accounting Rules to apply rules that determine the correct GL accounts for transactions based on predefined conditions. Mapping Sets to define mappings using product category and customer type to assign transactions to the correct GL accounts.

What is the function of the Autoinvoice process in Oracle Cloud Applications, and how does it streamline transactions processing within Oracle Cloud Receivables?. Defines and manages accounting distributions for revenue recognition, ensuring compliance with financial reporting standards and controls. Facilitates seamless data integration between Oracle modules, ensuring accuracy and consistency across financial records. Imports, validates, and processes transaction data from multiple sources to generate invoices, debit memos, credit memos and billing transactions. Automates the conversion of customer quotes into sales orders, simplifying order fulfillment and transaction flow.

In Balance Forward Billing, billing cycles play a crucial role in determining how transactions are consolidated for invoicing. What is their function in Oracle Cloud Receivables?. Establish the frequency and cutoff dates for generating consolidated customer bills. Automatically calculate late payment fees and penalties based on overdue balances. Generate periodic customer account statements summarizing outstanding balances. Assign customized due dates for individual transactions within a billing cycle.

What is the impact of the Invoice Accounting for Credit Memo profile option in Oracle Cloud Receivables on the creation of credit memos?. It determines whether credit memos require approval before accounting and posting. It controls whether users can manually enter accounting distributions when creating credit memos. It controls whether credit memos are printed automatically during document processing. It determines whether credit memo accounting is based on the original invoice distribution.

Your client is preparing to run the Prepare Receivables to General Ledger Reconciliation process for the current accounting period. They are concerned about ensuring that the summary balance ??. Which two period statuses can your client set for the current period before running the reconciliation to limit transactions activity while still allowing reconciliation to proceed?. Permanently closed. Close pending. Open. Closed. Future entry.

A company wants to encourage more timely payments from customers and improve cash flow. They plan to offer payment incentives that don’t require customers to pay until the full invoice amount is due. How does the allow Discount on Partial Payments setting affect the way discounts are applied to Oracle Cloud Receivables?. It provides a discount on the total invoice amount if partial payments are made on time. It enables customers to receive discounts on partial payments for items with payment terms. It applies a discount to the remaining balance when a customer makes a partial payment. It allows customers to pay a discounted amount for transactions with multiple installments.

A transaction is created for a customer associated with a contract that allows a 45-day refund. The revenue policy for the business unit specifies a refund policy threshold of 30 days. When will revenue be recognized for the related transaction line?. After the refund period of 45 days expires, based on the refund contingency. As soon as any payment is received, regardless of the refund period. Once the customer provides written confirmation of a no-refund request. Immediately upon transaction creation, since refund terms are contract specific.

You need to configure a recurring billing plan for a customer, but the transaction source for the recurring transactions must be of a specific type. Which transaction source setup is required for recurring billing transactions?. Standard, with Manual Transaction Numbering enabled. Imported, with Automatic Transaction Numbering enabled. Imported, with Automatic Transaction Numbering disabled. Imported, with Manual Transaction Numbering enabled.

When handling overpayments, what role does the Lockbox processing play?. Ignores overpayments leaving them for manual review later. Immediately refunds overpayments. Identifies overpayments and, based on the setup, can suggest refunds for review. Calculates the exact overpayments amount and automatically issues a refund.

A customer submits a payment of $3.500 without including any transaction reference, and Receivables cannot identify a matching invoice. The system needs to identify (??) predefined rules. Where should the setup be configured to effectively handle this scenario automatically?. In the Receipt Source configuration where default remittance and numbering options are defined for payment batches. In the AutoMatch Rule Set that defines how reference strings are compared against open transactions during receipt matching. In the AutoCash Rule Set configuration assigned through either the customer profile class or system option for the business unit. In the Application Rule Set setup that controls how payments reduce balances on tax, freight or late charges.

You are configuring a new receipt source for Lockbox processing. The client requires automatic application using SmartReceipts and document type marching based on sales order numbers. Which setup is required to achieve this behavior?. Assign a constant accounting date in the receipt class and enable cross-customer application. Define automatic receipt classes with the direct clearance method. Enter a data file path and set Submit Import to Yes in the Lockbox parameters. Assign an Automatch rule set and enable the AutoApply option in both the Lockbox and system options.

After submitting an automatic receipt batch, you navigate to the Accounts Receivable work area to review the generated receipts. You notice that some receipts need to be adjusted and you need to ensure proper (?) before confirming any changes. How can you reverse an automatic receipt after the batch has been created?. Create a credit memo against the receipt and apply it to offset the original receipt amount. Submit a reversal action from the Manage Receipts page and follow the approval workflow. Contact the customer to initiate the reversal process. Reverse the receipt directly from the Account Receivables work area.

What is the significance of the Accounting Mode parameter in the Create Accounting process?. It controls whether the journals are created in draft or final status. It specifies the General Ledger batch for posting. It determines the level of detail in the execution report. It filters transactions based on their accounting event classes.

You work as a financial analyst for a company that recently implemented the Oracle Cloud ERP system. You need to reconcile the account receivables balances between the Receivables Application and the General Ledger. Which report should be used to support this reconciliation task?. Receivables Aging Summary Report, which displays outstanding customer balances grouped by aging periods. General Ledger inquiry report, which provides journal entry and account balance details sourced from the subledgers and manual journals. Receivables to Ledger Conciliation Report, which compares summarized Receivables data with accounting balances. Payables Reconciliation Report, which analyzes variances between Payables balances and General Ledger postings.

In Oracle Bill Management, when a customer contact is registered as an external user, the application automatically assigns them a specific contact responsibility type. What is the assigned responsibility type for customer contacts registered with Bill Management?. Self-service user. Invoices. Correspondence. Bill to.

A Finance administrator wants to allow external customer users to view their transaction history for the past 24 months in Bill Management. What must the administrator configure?. Configure the customer profile class to enable extended transaction history. Set the transaction view period in Receivables System Options. Set the Transaction History in Months field on the Bill Management System Options page. Enable the transaction history flag in the Manage Receivables Lookups.

A customer has submitted a dispute in Oracle Collections and, after review, it is approved. What is the next step to process this dispute correctly to reflect the financial adjustment in Oracle Cloud Receivables?. The system generates a credit memo in Receivables reducing the customer's outstanding balance. The system reassigns the disputed transaction to a different aging bucket for further monitoring. The system flags the disputed transaction for manual review in the next collection cycle before adjustments are made. The system automatically writes off the disputed transaction, removing it from the customer’s account.

A consultant is designing a collection strategy for a client. The strategy requires sending an initial dunning email, followed by a collection phone call three days later if payment is not received. How should the consultant structure the strategy?. Configure a single task that includes both the email and phone call actions in sequence. Assign the tasks within a dunning plan and apply it to the customer account for time-based execution. Use two manual tasks and include instructions for the collector to wait three days before the phone call. Create an automated email task, followed by a manual phone call with a configured three-day wait period.

In Oracle Collections, the work area provides access to various collection metrics that are calculated out of the box. One of the key metrics of Days of Sales Outstanding (DSO) which helps ?? a company ??. What does the DSO metric calculate?. The total sales revenue generated during a specific period. The average time it takes to collect accounts receivable. The efficiency of the credit approval process. The amount of customer payments collected over a period of time.

An organization wants to improve its collection process by implementing its collection process by implementing the Strategies feature in Oracle Advance Collections. The customer ? is diverse, with different risk ???. How can they use the Strategies feature to manage collections?. Create one comprehensive strategy with tasks covering all behaviors and rely on scoring to trigger relevant actions. Use default strategy groups and only adjust scoring formulas to match different customer payment profiles. Manage collections manually and assign tasks reactively based on collector capacity and customer payment history. Define multiple strategy groups aligned to customer segments and assign specific tasks based on score ranges.