[Mar 04, 2022] New Real 1Z0-1055-21 Exam Dumps Questions
Pass Your 1Z0-1055-21 Exam Easily with Accurate Oracle Financials Cloud: Payables 2021 Implementation Essentials PDF Questions
NEW QUESTION 47
Your client company has two business units and requires the Payables Specialist to process invoice transactions for both business units.
What setup is required to achieve this?
- A. a Dedicated Service Provider model
- B. a Dedicated and Self-Service Service Provider Model
- C. Business Unit Security
- D. a Self-Service Service Provider Model
Answer: C
NEW QUESTION 48
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?
- A. The installment is not selected because the discount dates are before the Pay Through Date.
- B. The installment is not selected because the due date is after the Pay Through Date.
- C. The installment is selected and a discount of $150 USD is applied.
- D. The installment is selected and a discount of $50 USD is applied.
- E. The installment is selected and no discount is applied.
Answer: B
Explanation:
Explanation
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm#FAPPP1011879
NEW QUESTION 49
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?
- A. Enter the Invoice manually and add the freight line.
- B. Choose to Match to Receipt Charges.
- C. Choose to Match in full to the Purchase Order.
- D. Choose to Match to Invoice Lines.
- E. Choose Match to Receipt.
Answer: B
NEW QUESTION 50
You have three procurement business units, four requisition business units and five sold-to business units. For which will the supplier registration flows be deployed?
- A. five sold-to business units
- B. four requisition business units
- C. twelve business units per supplier
- D. one business unit per supplier
- E. three procurement business units
Answer: E
Explanation:
Explanation
A supplier is modeled as a global entity, meaning it is not created within a business unit or any other organizational context. A procurement business unit establishes a relationship with asupplier through the creation of a site which maintains internal controls for how procure to pay transactions are executed with the supplier. The other entities of the supplier profile capture mostly external information that is provided by the supplier, such as taxidentifiers, addresses, contact information, and so on.
References:https://docs.oracle.com/cd/E51367_01/procurementop_gs/OAPRC/F1007476AN106E5.htm
NEW QUESTION 51
A Payables supervisor wants to apply a prepayment to an invoice.
Which combination of invoice and payment currencies allow the application of a prepayment to an invoice?
- A. Standard Invoice: Invoice Currency CAD, Payment Currency GBP
Prepayment: Invoice Currency USD, Payment Currency AUD - B. Standard Invoice: Invoice Currency USD, Payment Currency GBP
Prepayment: Invoice Currency USD, Payment Currency AUD - C. Standard Invoice: Invoice Currency USD, Payment Currency USD
Prepayment: Invoice Currency CAD, Payment Currency CAD - D. Standard Invoice: Invoice Currency USD, Payment Currency CAD
Prepayment: Invoice Currency CAD, Payment Currency CAD
Answer: B
Explanation:
Explanation
You can pay a prepayment in a currency that's different from the invoice currency. To apply that prepayment to an invoice, the invoice must have the same invoice currency as the invoice currency of the prepayment.
NEW QUESTION 52
You have two business units, Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?
- A. Assign the Expense Auditor job roles to each auditor.
- B. Use segment valuesecurity rules to secure access to business units.
- C. Assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles to each Expense Auditor.
- D. Assign the Expense Auditor as the owner of each business unit.
Answer: C
Explanation:
Explanation
You can enable expense auditors to audit expense reports for specific business units by assigning them specific expense auditor data roles for the business units. For example, to allow an expense auditor toaudit expense reports for the Vision Operations and Vision Services business units, assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles, respectively, to the expense auditor.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.ht
NEW QUESTION 53
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?
- A. Cancel the invoice, which debits the liability and credits the expense.
- B. Issue a credit memo, which will debit the liability and credit the expense.
- C. Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.
- D. Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.
Answer: C
NEW QUESTION 54
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.)
- A. Schedule create accounting for the intercompany process.
- B. Manual Approvals should be allowed for the transaction type.
- C. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.
- D. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.
- E. Supplier site primary pay flag and customer account bill to primary flag should be enabled.
- F. For the Legal Jurisdiction, Legal function: "Generate intercompany invoice" should be assigned.
Answer: C,E
Explanation:
Explanation
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAUGL/FAUGL1476872.htm
NEW QUESTION 55
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.)
- A. Choose the 'All Lines' option from the Allocate menu in the invoice line area.
- B. Define a distribution set and assign it manually to the invoice.
- C. Define a distribution set and assign it to the supplier.
- D. Configure Subledger Accounting rules to allocate costs.
Answer: B,D
Explanation:
Explanation
A: Account Rules by Segment
Define segment rules to derive a specific segment of the general ledger account. For example, a particular segment like the company segment can be determined from the distribution account. Another segment can be determined with the use of a constant value. Creating the account one segment at a time offers greater flexibility, but also requires more setup.
C: You can use a Distribution Set to automatically enter distributions foran invoice when you are not matching it to a purchase order. For example, you can create for an advertising supplier a Distribution Set that allocates advertising expense on an invoice to four advertising departments.
References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/distsets.htm
NEW QUESTION 56
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?
- A. March 15th
- B. April 15th
- C. February 15th
- D. January 15th
Answer: C
NEW QUESTION 57
You created a payment and before it is cashed by the supplier you mistakenly submitted a request to stop payment. Later you canceled the request to stop payment. What is the resulting payment status?
- A. Cleared
- B. Canceled
- C. Stop initiated
- D. Negotiable
- E. Voided
- F. Available
Answer: D
Explanation:
Explanation
To release a stop on a payment:
References:https://docs.oracle.com/cd/A60725_05/html/comnls/us/ap/adjpmt04.htm
NEW QUESTION 58
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.)
- A. Receipts are not required if the expense item falls within Per Diem Rates.
- B. Employees are not reimbursed for expense report expenditures until missing or overdue imaged receipts are submitted.
- C. Users can maintain scanned receipts in a central repository and provide a reference number in the expense report.
- D. An expense report may require original, imaged, or both types of receipts.
Answer: C,D
NEW QUESTION 59
Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?
- A. 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.
- B. Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.
- C. Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.
- D. 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.
Answer: A
NEW QUESTION 60
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?
- A. Set the validation failure handling for payments to "show errors."
- B. Set the validation failure handling for payments to "stop process for review."
- C. Enable debug for the payment format program.
- D. Set the validation failure handling for documents to "show errors."
Answer: B
NEW QUESTION 61
Which three are Invoice Header attributes that can be used during invoice approval rule creation? (Choose three.)
- A. Pay Group Lookup Code
- B. Statistical Amount
- C. Accounting Date
- D. Requester Name
- E. Business Unit Name
Answer: A,C,E
NEW QUESTION 62
You applied a prepayment amount of $5,000 USD to a $10,000 USD invoice. At the time of prepayment, the applicable tax rate was 5% ($250 USD); at the time of invoice creation, the tax rate is 10%. When you set up taxes, you choose to Recalculate Taxes for the Applied Amount Handling option.
How will the resulting tax be calculated?
- A. The tax for the prepayment is recalculated and the generated tax line amount will be $250 USD (5% *
10,000-5000). - B. The tax calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.
- C. The tax for the prepayment is recalculated to use the new invoice tax rate that is also used for the invoice line amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -500 USD (10% * -5000).
- D. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -250 USD (5% * -5000).
Answer: C
Explanation:
Explanation
When you apply a prepayment to an invoice, the tax rate at the time of prepayment may differ from the tax rate at the time that the prepayment is applied to an invoice. Oracle Fusion Tax considers the tax calculated on the prepayment according to the value assigned to the Applied Amount Handling option in the tax record. The values are Recalculated and Prorated.
For example, you apply a prepayment amount of 5,000 USD to an invoice with a total amount of10,000 USD.
At the time of prepayment, the applicable tax rate was 5% (250 USD tax on the prepayment); at the time of invoice creation, the applicable tax rate is 10%. Tax is calculated in this way:
* Recalculated: The tax is recalculated on the prepayment using the invoice tax rate and the same tax rate is applied to the invoice line amount. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. In the invoice example, the calculationcreates an invoice line amount tax line of 1,000 USD (10% * 10,000 USD) and a prepayment tax line of -500 USD (10% * -5000 USD). This reverses tax calculated on the invoice for the prepayment amount applied. The tax calculated on the prepayment is retained.
* Prorated:Etc.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006655AN242EE.htm
NEW QUESTION 63
You have assigned additional roles to an existing user. However, the new roles are not appearing for the user in their Navigator menu. What should you check?
- A. Make sure you ran the Retrieve Latest LDAP Changes program.
- B. Make sure the user logs out and logs back in.
- C. Make sure you can query the user from the Manage Users page and verify the roles assigned.
- D. Make sure you can query the user using Oracle Identity Manager (OIM) and the roles are assigned.
Answer: A
Explanation:
Explanation
Oracle Identity Management maintains Lightweight Directory Access Protocol (LDAP) user accounts for users of Oracle Fusion Applications. Oracle Identity Management also stores the definitions of abstract, job, and data roles, and holds information about roles provisioned to users.
Most changes to user and role information are shared automatically by Oracle Applications Cloud and Oracle Identity Management. No action is necessary to make this exchange of information happen.
However, you must run the processes Send Pending LDAP Requests and Retrieve Latest LDAP Changes to manage some types of information exchange between Oracle Applications Cloud and Oracle Identity Management.
References:https://docs.oracle.com/cd/E60665_01/common/FASER/FASER1345802.htm
NEW QUESTION 64
You need 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?
- A. SingleTypeParticipantInParallelModeRuleSet
- B. ParallelTypeParticipantInParallelModeRuleSet
- C. FyiTypeParticipantInParallelModeRuleSet
- D. InvoiceApprovalRuleSet
Answer: B
NEW QUESTION 65
What is the invoice type of an unapproved, unmatched invoice that was created in the Supplier Portal?
- A. iSupplier Invoice
- B. Credit Memo
- C. Standard invoice request
- D. Standard Invoice
- E. Supplier payment request
Answer: C
Explanation:
Explanation
Standard invoice request: An invoice submitted without a purchase order by a supplier through Oracle Fusion Supplier Portal thatis pending review and approval by the appropriate persons within the deploying company.
References:https://docs.oracle.com/cd/E37583_01/doc.1116/e22897/F431919AN100ED.htm
NEW QUESTION 66
You want your expense auditors to audit only expense reports for specific business units. How do you do this?
- A. Create your own audit extension rules that correspond to the business unit.
- B. Assign the expense auditors job role and business unit security context and value to the user.
- C. Make auditors the managers of the corresponding business unit to route expense reports properly.
- D. Create a custom duty role and assign the data roles to each auditor.
Answer: B
NEW QUESTION 67
You need to create a payment for a supplier before the next payment run. The invoice you wish to pay is not available for selection in the Create Payment page.
Which two are possible reasons for this? (Choose two.)
- A. The invoice is not validated.
- B. The invoice is not accounted.
- C. The payment method for the invoice is Electronic.
- D. The invoice is not yet due.
- E. The payment supplier site is different to the supplier site on the invoice.
Answer: A,D
NEW QUESTION 68
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?
- A. Enter the payment terms in the Manage Invoice Options page so they default onto the invoice.
- B. Enter the payment terms at the supplier site level so they default onto the invoice.
- C. Enter the payment terms in the Manage Payment Options page so they default onto the invoice.
- D. Enter the payment terms at the Supplier level so they default onto the invoice.
- E. Manually override the payment terms that have defaulted from the purchase order for those suppliers.
Answer: E
NEW QUESTION 69
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.)
- A. Neither the invoice nor the credit memo is included in the Payment Process Request.
- B. Both the invoice and the credit memo are fully paid.
- C. Only the invoice is paid fully but the credit memo is partially paid with a credit of ($100) USD remaining.
- D. Both the invoice and the credit memo are included in the Payment Process Request.
Answer: C,D
Explanation:
Explanation
When yousubmit a "payment process request", you can enable the Apply credits up to zero amount payment option. Enabling the option causes the payment process to apply credits when the credits reduce the payment amount below zero.
The following scenario illustratethe impact of this option.
Credit Amount Greater Than Invoice Amount
An invoice for 200 USD and a credit memo for 225 USD are due for payment.
The following table describes the payment processing that occurs based on the setting for the Apply credits upto zero amount payment option.
Assume that the "Apply Credits Up to Zero Amount" option is enabled.
Payment processing applies 200 USD of the credit memo to the invoice and creates a payment for 0 USD. The remaining credit is 25 USD.
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9F438E13CC89BA0CE040D30A68816F7
NEW QUESTION 70
Which three reports are generated by the export setup data process? (Choose three.)
- A. Process Results Summary Report
- B. Process Results Report
- C. Exported Business Object Report
- D. Process Results Detail Listing Report
- E. Setup Data Report
Answer: A,B,E
NEW QUESTION 71
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