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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

Configuring Payables and Payments: This section assesses the skills of Implementation Consultants in configuring payables and payments within Oracle Financials Cloud156. It covers managing withholding and transaction taxes, configuring payables and payments, managing business units, managing sub-ledger accounting, and managing invoice and payment approvals1. These skills are vital for setting up and customizing the system to meet specific business requirements.

Topic 4

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 5

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.

Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions (Q55-Q60):

NEW QUESTION # 55
You're a Payables supervisor, and your team has been struggling to keep up with the high volume of incomplete invoices coming through the Oracle Cloud Supplier Portal, causing delays in timely period closures. As a Payables supervisor, you have the ability to identify and then cancel incomplete supplier portal invoices without having to contact suppliers.
Which two options are available for the Payables Supervisor to identify incomplete supplier portal invoices for cancellation?

A. Run the Period Close Exception Report
B. Query invoices on the Manage Invoices page
C. Query the Payables Invoice Register
D. Run the Period Invoice Audit Report

Answer: A,B

Explanation:
Comprehensive and Detailed In-Depth Explanation:
Managing incomplete invoices is crucial to ensure a smooth period close process in Oracle Financials Cloud.
As a Payables Supervisor, you have specific tools and reports at your disposal to identify and address these incomplete supplier portal invoices:
* Query Invoices on the Manage Invoices Page (Option C):
* Purpose: The Manage Invoices page allows you to search and view all invoices within the system. By applying filters such as status (e.g., "Incomplete") and source (e.g., "Supplier Portal"), you can identify invoices that are incomplete and originated from the supplier portal.
* Action Steps:
* Navigate to the Manage Invoices page.
* Use the search filters to specify criteria:
* Status: Set to "Incomplete".
* Source: Set to "Supplier Portal".
* Review the filtered list to identify invoices that require cancellation.
Reference: Enhanced Invoicing Through the Supplier Portal
Run the Period Close Exception Report (Option D):
Purpose: The Payables Period Close Exceptions Report provides details of transactions that prevent the Payables period from closing, including incomplete invoices. Running this report helps in identifying any such invoices that need attention before period closure.
Action Steps:
Navigate to the Scheduled Processes work area.
Submit the Payables Period Close Exceptions Report.
Review the report output to identify incomplete supplier portal invoices.
Reference: Overview of Payables Period Close Exceptions Report
Options A (Query the Payables Invoice Register) and B (Run the Period Invoice Audit Report) are not specifically designed to identify incomplete invoices:
Payables Invoice Register: This report provides a list of invoices but does not specifically highlight incomplete ones.
Period Invoice Audit Report: This report focuses on auditing invoices for compliance and accuracy, not necessarily on their completion status.
Therefore, the most effective tools for identifying incomplete supplier portal invoices for cancellation are Option C: Query invoices on the Manage Invoices page and Option D: Run the Period Close Exception Report.

NEW QUESTION # 56
Your company asks you to build new Payables reports. You will be using Oracle Transactional Business Intelligence (OTBI) and deep links. Deep links allow you to directly drill down from OTBI reports to purchase orders and view the related purchase order details. Which three predefined job roles allow you to use this drill-down feature?

A. Account Payable Invoice Supervisor
B. Accounts Payable Analyst
C. Accounts Payable Manager
D. Accounts Payable Agent
E. Accounts Payable Specialist

Answer: B,C,E

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Financials Cloud, Oracle Transactional Business Intelligence (OTBI) provides robust reporting capabilities, including the use of deep links that enable users to drill down from summary reports into detailed transactional data, such as purchase orders. Access to these drill-down features is governed by specific job roles that encompass the necessary privileges.
Predefined Job Roles with Drill-Down Capabilities:
Accounts Payable Analyst (Option A):
Role Overview: This role is primarily focused on analyzing payables data, including the ability to access and drill down into detailed transactions to support financial analysis and reporting.
Privileges: Includes access to OTBI reports and the capability to drill down into transactional details such as invoices and payments.
Reference:
Accounts Payable Manager (Option B):
Role Overview: This managerial role oversees the entire accounts payable process, ensuring efficient operations and compliance. The role requires comprehensive access to payables data, including the ability to drill down into specific transactions for oversight and decision-making.
Privileges: Grants access to manage and review payables transactions, with drill-down capabilities into invoices, payments, and related purchase orders.
Accounts Payable Specialist (Option E):
Role Overview: This role is responsible for the day-to-day processing of accounts payable transactions, including invoice entry and payment processing. Access to detailed transaction data is essential for resolving issues and ensuring accuracy.
Privileges: Provides the ability to view and process payables transactions, with drill-down access to detailed information such as purchase order details linked to invoices.

NEW QUESTION # 57
SIMULATION
MANAGE POLICIES BY EXPENSE CATEGORY
The US1 Business Unit has an expense policy on meals that allows an employee to claim 30 USD per day for an evening meal, regardless of their role and location.

Answer:

Explanation:
See the Explanation for Step by Step Solution
Explanation:
Step-by-Step Solution: Configuring Expense Policies by Expense Category in Oracle Financials Cloud To implement the expense policy for meals in Oracle Financials Cloud, follow these steps:
Step 1: Navigate to the Expense Policies Setup
Log in to Oracle Financials Cloud with the appropriate Expense Manager or Financial Administrator role.
Go to the Setup and Maintenance work area.
Select Manage Policies by Expense Category (Task Name: Manage Expense Policies by Expense Category).
Select the US1 Business Unit to ensure the policy applies to the correct entity.
Step 2: Create or Update the Meal Expense Category
Under Manage Policies by Expense Category, locate or create the Meals Expense Category.
If the Meals category does not exist:
Click Create Expense Category.
Enter Category Name: "Meals".
Category Type: "Meals and Entertainment".
Save the entry.
Step 3: Define Expense Limits for Evening Meals
Select the Meals Expense Category and click Edit.
Navigate to the Policies and Limits tab.
Under Amount Limits, click Add New Rule.
Description: "Evening Meal Limit".
Limit Type: "Maximum Allowed Amount".
Limit Amount: Enter 30 USD.
Per: Select Day.
Apply to All Employees (since this applies regardless of role and location).
Location-Based Rules: Leave blank since it applies universally.
Click Save and Close.
Step 4: Enable and Activate the Policy
Ensure the policy is enabled by selecting the checkbox for Active.
Click Submit to finalize the configuration.
Run the "Validate and Deploy Expense Policies" process to apply changes.
Step 5: Testing the Policy
Simulate an Expense Report Submission:
Have an employee create a new expense report.
Select Meals as the expense category.
Enter an evening meal expense of 35 USD (which exceeds the policy limit).
Verify if a policy violation warning appears, restricting the claim to 30 USD.
Submit an expense of 30 USD and ensure no policy violation occurs.
Expected Outcome:
Employees can claim up to 30 USD per day for an evening meal.
Any claim above 30 USD triggers a policy violation warning.
The rule applies to all employees regardless of role and location.
Conclusion
By following the above steps, you successfully configure an expense policy for meals that limits evening meal claims to 30 USD per day. This ensures compliance with the company's expense management guidelines while streamlining the expense approval process in Oracle Financials Cloud.

NEW QUESTION # 58
Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation Report?

A. Natural Account
B. Business Unit
C. Accounting Period
D. Primary Ledger
E. Supplier
F. Balancing Segment Value

Answer: B,C,F

Explanation:
Comprehensive and Detailed In-Depth Explanation:
The Prepare Payables to General Ledger Reconciliation process in Oracle Financials Cloud is essential for ensuring that your payables and general ledger data are aligned. When submitting this process, you have several parameters available to filter and select the specific data you need for reconciliation. The key parameters include:
* Business Unit (Option A):
* Purpose: Allows you to reconcile data for a specific business unit within your organization. This is particularly useful if your enterprise structure includes multiple business units and you need to focus on one at a time.
Reference: Prepare Payables to General Ledger Reconciliation
Accounting Period (Option B):
Purpose: Enables you to select the accounting period (either open or closed) for which you want to prepare the reconciliation data. This ensures that the report focuses on the transactions relevant to the specified time frame.
Reference: Prepare Payables to General Ledger Reconciliation
Balancing Segment Value (Option C):
Purpose: Allows you to filter the data by specific balancing segment values, which correspond to entities like companies or divisions within your chart of accounts. This is useful for reconciling data at a more granular level.
Reference: Prepare Payables to General Ledger Reconciliation
While options D (Supplier), E (Primary Ledger), and F (Natural Account) are important attributes within the payables and general ledger modules, they are not listed as direct filter parameters for the Prepare Payables to General Ledger Reconciliation process. Therefore, the correct answers are A. Business Unit, B.
Accounting Period, and C. Balancing Segment Value.

NEW QUESTION # 59
As an Expenses Administrator, you can control which expense values you do not want to automatically populate on the Create Expense Item page. You have therefore created the profile option EXM_DFLT_FROM_PREV_EXPENSE at the user level and set it to N (No).
Which three values will no longer populate from a previous expense item when a user enters a new expense item?

A. Expense Location
B. Template
C. Currency
D. Project and Task Number

Answer: A,B,D

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Expenses, the profile option EXM_DFLT_FROM_PREV_EXPENSE determines whether certain fields on the Create Expense Item page are automatically populated with values from the previously entered expense item.
By default, when this profile option is set to 'Y' (Yes), the application carries over several fields from the last entered expense item to streamline data entry. These fields include:
* Date
* Template
* Expense Location
* Currency (both ledger and reimbursement currency)
* Company and Department
* Project Number and Task Number
However, when the profile option is set to 'N' (No) at the user level, the system stops carrying over certain fields from the previous expense item.
Fields That Will No Longer Auto-Populate:
* Expense Location - Users must manually enter the expense location for each new entry.
* Template - Expense templates (if used) will not be pre-filled from the previous expense item.
* Project and Task Number - Users must reselect the project and task number for each new expense entry.
Fields That Will Still Populate With Defaults:
* Currency - Defaults to the ledger currency as configured in Human Capital Management (HCM).
* Company and Department - These values will be retrieved from the user's default expense account setup in HCM.
Thus, the correct answer is: A, B, D because the Expense Location, Template, and Project & Task Number will no longer populate from a previous expense item when a user enters a new one.
References:
* Oracle Financials Cloud: Implementing Expenses

NEW QUESTION # 60
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