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Oracle 1Z0-1055-24 Exam Syllabus Topics:

Topic	Details
Topic 1	Using AI Capabilities in Payables: This section measures the skills of AI Implementation Specialists in leveraging AI within Oracle Payables1. It covers understanding how to leverage Oracle’s pervasive AI approach in Oracle Cloud Applications, describing the integration and application of AI within the Oracle ERP ecosystem, and using AI to automate intelligent account combination defaulting1. These skills ensure the effective utilization of AI to improve efficiency and accuracy in payables processes.
Topic 2	Processing Payments: This section assesses the skills of Process Owners and focuses on creating and processing payments, along with explaining bank reconciliations within Oracle Financials Cloud156. Proficiency in these areas ensures accurate and timely payment processing, along with reconciliation for financial accuracy.
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	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 5	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.

Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions (Q51-Q56):

NEW QUESTION # 51
You recently processed a payment for a vendor and later discovered that the payment was made in error and needs to be voided. While voiding the payment, you selected Cancel as the Invoice Action. After performing the invoice voiding, you notice that the invoice is not cancelled; instead, it has an Invoice Cancel hold applied to it.
What is the reason for this?

A. The invoice date is not in the current open period.
B. The invoice has been partially paid by another payment.
C. The invoice is already on hold.

Answer: B

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Payables, voiding a payment involves specific actions that affect the associated invoices. When a payment is voided, users have the option to select an Invoice Action, such as Cancel, Hold, or None. The chosen action determines the subsequent status of the invoice linked to the voided payment.
A: The invoice date is not in the current open period.
If an invoice's date falls outside the current open accounting period, certain actions may be restricted.
However, this condition does not specifically result in an Invoice Cancel hold being applied when attempting to void a payment. Therefore, this is not the reason for the observed behavior.
B: The invoice is already on hold.
An invoice that is already on hold may have restrictions on further processing. However, the presence of an existing hold does not directly lead to the application of an Invoice Cancel hold during the voiding process.
Thus, this is not the cause of the issue.
C: The invoice has been partially paid by another payment.
When an invoice has been partially paid by multiple payments, voiding one of the payments and selecting Cancel as the Invoice Action does not cancel the invoice. Instead, Oracle Payables applies an "Invoice Cancel" hold to the invoice. This hold indicates that the invoice cannot be fully canceled because it has been partially satisfied by another payment. To resolve this, the remaining payments must be addressed appropriately before the invoice can be canceled. This behavior is documented in Oracle's guidelines, which state that attempting to cancel an invoice partially paid by another payment results in an Invoice Cancel hold being applied.
docs.oracle.com
Understanding the conditions under which Invoice Actions apply is crucial for effective invoice and payment management in Oracle Payables. Recognizing that partially paid invoices cannot be canceled outright helps prevent processing errors and ensures accurate financial records.

NEW QUESTION # 52
You have recently enabled the keyword audit feature for expenses to help automate the detection of potential policy violations or fraudulent activity within expense reports, After the feature is enables all expense reports containing keywords in certain fields are selected for audit.
Which two Expense Item fields are included in this feature?

A. Itemization Type
B. Description
C. Location
D. Merchant Name
E. Expense Type

Answer: B,D

NEW QUESTION # 53
You have enabled Payment Approval for your Payment Process Requests (PPR). At what stage of the PPR is the payment approval process automatically triggered?

A. Create Payment Files
B. Build Payments
C. Review Installments
D. Review Proposed Payments

Answer: D

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Financials Cloud, the Payment Process Request (PPR) undergoes several stages, each with specific functions and potential user interventions. When Payment Approval is enabled, the system incorporates an approval workflow to ensure that payments are reviewed and authorized before disbursement.
Stages of Payment Process Request:
* Installment Selection:
* Description: The system selects invoice installments based on predefined criteria such as due dates, payment methods, and supplier information.
* User Action: Optional review if the "Review Installments" option is selected.
* Document Validation:
* Description: Validates the selected installments for completeness and correctness, ensuring all necessary information is present.
* User Action: Required if there are validation errors or missing information.
* Build Payments:
* Description: Groups validated installments into payments based on attributes like payment date, disbursement bank account, and payment method.
* User Action: None, this is an automated process.
* Review Proposed Payments:
* Description: Allows users to review and, if necessary, modify the proposed payments before finalizing them.
* User Action: Required if the "Review Proposed Payments" option is selected.
* Payment Approval:
* Description: If enabled, this stage involves routing the proposed payments to designated approvers for authorization before disbursement.
* User Action: Approvers must review and approve or reject the payments.
* Create Payment Files:
* Description: Generates the necessary payment files for disbursement, such as electronic funds transfer (EFT) files or check print files.
* User Action: None, unless issues arise during file creation.
Trigger Point for Payment Approval:
The Payment Approval process is automatically triggered at the Review Proposed Payments stage. At this point, the system pauses to allow approvers to review the proposed payments and make decisions regarding their authorization. This control mechanism ensures that all payments are vetted before funds are disbursed, aligning with organizational policies and financial controls.
According to Oracle's documentation:
"If enabled, the payment process stops at the Review Proposed Payments stage. Approvers can then optionally remove payments directly from a payment process request and approve it." docs.oracle.com Analysis of Options:
* A. Review Proposed Payments: Correct. This is the stage where the payment approval process is triggered, allowing approvers to review and authorize payments.
* B. Create Payment Files: Incorrect. This stage occurs after payment approval and involves generating the actual payment files for disbursement.
* C. Review Installments: Incorrect. This is an earlier stage where selected installments are reviewed before payments are built, but it does not involve the payment approval workflow.
* D. Build Payments: Incorrect. This stage involves grouping validated installments into payments and occurs before the Review Proposed Payments stage.
Conclusion:
Enabling Payment Approval in Oracle Financials Cloud introduces a critical control point at the Review Proposed Payments stage of the Payment Process Request. This setup ensures that all proposed payments undergo managerial review and authorization before the creation of payment files and the actual disbursement of funds. Implementing this approval process helps maintain robust financial oversight and compliance within the organization's payment workflows.
Reference:
Oracle Financials Cloud Documentation - How You Set Up Payment Approvalhttps://docs.oracle.com/en
/cloud/saas/financials/24d/faipp/how-you-set-up-payment-approval.html

NEW QUESTION # 54
Previously, cash advances were applied automatically to expenses when the auditor ran the expense reimbursement process. Now, Oracle Expenses allows employees to have the ability to manually apply their cash advances to the relevant expense report. As an Application Implementation Consultant, you advise your client to enable this feature and allow employees to perform manual application of cash advances to their expense reports for the US Business Unit.
Which statement is NOT true about this feature?

A. Auditors can make changes to cash advances that are applied to an expense report.
B. Employees need to include a justification if they don't apply an available cash advance when submitting an expense report.
C. Unused cash advance amounts are applied to the next expense report or refunded to the company by the employee.
D. If approvers or auditors reject expense reports, the cash advances that are applied to the reports are automatically removed and returned to the employee's available cash advances.

Answer: A

NEW QUESTION # 55
You have been asked with creating an Oracle transactional Business Intelligence (OTBI) analysis to help reconcile payables balances against general ledger. The analysis must show both posted invoices and Payments.
Which subject area must you select to create this analysis?

A. Payables Payments-- Disbursements Real Time
B. Payables Invoices-- Trail Balance Real Time
C. Payables balances-- Reconciliation Time
D. Payables Invoices-- Transactions Real Time

Answer: B

NEW QUESTION # 56
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ORACLE 1Z0-1055-24 DUMP, 1Z0-1055-24 EXAM COURSE

Oracle 1Z0-1055-24 Dump, 1Z0-1055-24 Exam Course