New (2022) Oracle 1z0-1055-20 Exam Dumps
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NEW QUESTION 27
When creating a check payment, from where is the payment document defaulted?
- A. Business Unit
- B. Legal Entity
- C. Bank
- D. Supplier
- E. Bank Account
Answer: E
Explanation:
Explanation
Create Check
This step shows how to create a check to pay the customer for theclaim. The customer will be paid with the designated amount in Oracle Payables.
Navigation: Actions > Pay in Full.
Notes:
Bank Account: Select BofA.
Document: Select Check.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e16295/T544851T544993.htm
NEW QUESTION 28
What is the recommendation when setting up Reconciliation Rule Sets?
- A. Many to Many rules should always be used last in the sequence.
- B. One to One rules should be sequenced below rules of other types.
- C. One to One rules should be sequenced above rules of other types.
- D. Many to Many rules should always be used first in the sequence.
Answer: C
NEW QUESTION 29
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 at the supplier site level so they default onto the invoice.
- B. Enter the payment terms in the Manage Payment Options page so they default onto the invoice.
- C. Enter the payment terms at the Supplier level so they default onto the invoice.
- D. Enter the payment terms in the Manage Invoice Options page 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 30
During your business trip to the UK, you took a taxi ride and paid for it by using your personal Visa credit card. While entering your expenses, you get a warning that a different conversion rate was applied to the taxi expense by Visa that the one used by your company.
How do you handle this situation?
- A. Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.
- B. Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement.
- C. Use the corporate-defined conversion rate even if it means you will not be reimbursed fully.
- D. Do not enter the taxi expense and call your Finance Department so that they can make changes in the conversion rate settings and you do not violate the allowable limit.
Answer: A
Explanation:
Explanation
Payables uses five types of exchange rates. Payables uses exchange rates to convert invoice and payment amounts into your ledger currency.
* User. Used to manually enter your own exchange rate during invoiceentry or at payment time. If you use the User exchange rate type, if the Payables option Calculate User Exchange Rate is enabled, and if you are using the Invoices window or the open interface table, then Payables calculates the invoice exchange rate if you provide the Ledger Currency amount.
Etc.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e12797/T295436T368341.htm
NEW QUESTION 31
Which method can you use to route payment approval rules?
- A. Approval Groups
- B. Parallel
- C. Serial and FYI (For Your Information)
- D. Sequential
- E. Both Parallel and Sequential
Answer: A
NEW QUESTION 32
A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?
- A. Manage common options for Payables and Procurement and Manage Procurement agents
- B. Manage Invoice Options and Manage Procurement agents
- C. Manage Invoice Options and Manage common options for Payables and Procurement
- D. Manage Payment Options and Manage common options for Payables and Procurement
- E. Manage Payable Options and Manage Invoice Options
Answer: E
Explanation:
Explanation
You can change the conversion rate type at invoice entry or payment creation time.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAIPP/FAIPP1470345.htm
NEW QUESTION 33
Identify three statements that indicate the purpose of Functional Setup Manager.
- A. it allows you to assign setup tasks to individuals with due dates where users must manually update their completion status.
- B. It provides a central place to access and perform all of the setup steps across the applications.
- C. It automatically marks the completion status of tasks as Completed once they have been completed.
- D. It allows you to centrally manage the close processes across subledgers and ledgers.
- E. It automatically generates lists of setup tasks in the correct sequence with dependencies highlighted.
Answer: B,C,E
Explanation:
Explanation
With Oracle Fusion Functional Setup Manager you can:
References:https://docs.oracle.com/cd/E56614_01/common_op/OAFSM/F1166427AN1007E.htm
NEW QUESTION 34
What is the result of voiding a payment?
- A. A stop payment request has been initiated to the bank.
- B. The payment is reconciled to the bank statement.
- C. A bills payable payment was created but is not yet matured.
- D. The payment is no longer valid.
Answer: D
NEW QUESTION 35
An invoice for $200 USD and a credit memo for $225 USD are due for payment and the "Apply credits up to zero amount" option is enabled for the payment process request. Which statement is correct?
- A. The payment process request applies $200 USD of the credit memo to the invoice, leaving a remaining credit of $25 USD, and creates a payment for $0 USD.
- B. The payment process request creates a refund for $225 USD and leaves the invoice unpaid.
- C. The payment process request pays only $200 USD alone.
- D. The payment process request doesn't select the invoice or credit memo for payment because the credit reduces the payment to - $25 USD, which is below zero.
Answer: A
Explanation:
Explanation
When you submit a "payment process request", you can enable the Apply credits up to zero amount payment option. Enablingthe option causes the payment process to apply credits when the credits reduce the payment amount below zero.
The following scenario illustrate the impact of this option.
Credit Amount Greater Than Invoice Amount
An invoice for 200 USD and a credit memofor 225 USD are due for payment.
The following table describes the payment processing that occurs based on the setting for the Apply credits up to 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 36
Which three are invoice types that can be entered using the Supplier Portal? (Choose three.)
- A. Non purchase order matched invoices
- B. Purchase order matched invoices
- C. Invoices that are created from the Evaluated Receipt Settlement (ERS) process
- D. Invoices that are automatically created when the supplier creates an ASN for drop shipments
- E. B2B XML invoices
Answer: B,C,E
NEW QUESTION 37
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 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).
- B. 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).
- C. The tax calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.
- D. The tax for the prepayment is recalculated and the generated tax line amount will be $250 USD (5% *
10,000-5000).
Answer: A
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 38
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 yet due.
- B. The invoice is not accounted.
- C. The payment supplier site is different to the supplier site on the invoice.
- D. The invoice is not validated.
- E. The payment method for the invoice is Electronic.
Answer: A,E
NEW QUESTION 39
You want to customize the Payables Invoice Register template to only display invoices when the Supplier name is Company A. Supplier name is a group that repeats on every page.
Which is the correct way to customize the template?
- A. Insert the syntax <?if:'COMPANY A'?> before the Supplier field and then enter the closing tag
</<?if:COMPANY A?> after the invoices table. - B. Insert the syntax <?if:VENDOR_NAME= 'COMPANY A'?> before the Supplier field on the template.
Then, enter the <?end if?> tag after the invoices table. - C. Insert the syntax <?if:condition?> before the Supplier field and then enter the closing tag
</<?if:condition?>. - D. Hard code Supplier Name "Company A" in the report template and only invoices for that supplier will be displayed.
Answer: D
Explanation:
Explanation
Use an if statement to define asimple condition; for example, if a data field is a specific value.
Insert the following syntax to designate the beginning of the conditional area.
<?if:condition?>
Insert the following syntax at the end of the conditional area: <?end if?>.
References:https://isu.ifmo.ru/docs/XMLP/help/en_US/htmfiles/B25951_01/T421739T421743.htm
NEW QUESTION 40
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. twelve business units per supplier
- B. one business unit per supplier
- C. five sold-to business units
- D. three procurement business units
- E. four requisition business units
Answer: D
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 41
A company has a requirement to default the disbursement bank account when submitting a Payment Process Request.
Which actions will accomplish this? (Choose two.)
- A. Create a Payment Process Request template that includes the Disbursement Bank Account.
- B. Define the Disbursement Bank Account to the Payment Method in payment default rules.
- C. Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.
- D. Define the Disbursement Bank Account to every supplier.
- E. Assign the Disbursement Bank Account to users to have the payment process default the bank account.
Answer: A,E
Explanation:
Explanation
D: You can assign thedisbursement bank account and the payment process profile to all documents payable in the payment process request during the Submit Payment Process Request process. If you use a payment process request template, a disbursement bank account and a payment process profile default from the template.
DE:The following options affect payment processing:
References:https://docs.oracle.com/cd/E37017_01/doc.1115/e22897/F438410AN16238.htm
NEW QUESTION 42
You have 10 ledgers and 30 business units and want to leverage Preference Data Sets. What is the function of Reference Data Sets?
- A. allow you to secure data by business unit
- B. allow you to maintain sets of related data in a Data Dictionary
- C. allow you to assign multiple business units to users in a shared service center
- D. allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup
Answer: D
Explanation:
Explanation
Reference Data Sets
You begin this part of your implementation by creating and assigning reference data to sets. Make changes carefully as changes to a particular set affect all business units or application components using that set. You can assign a separate set to each business unit for the typeofobject that is being shared. For example, assign separate sets for payment terms, transaction types, and sales methods to your business units.
Your enterprise can determine that certain aspects of your corporate policy can affect all business units. The remaining aspects are at the discretion of the business unit manager to implement. This allows your enterprise to balance autonomy and control for each business unit. For example, your enterprise holds business unit managers accountable for their profitand loss, but manages working capital requirements at a corporate level.
In such a case, you can let managers define their own sales methods, but define payment terms centrally. In this example:
Each business unit has its own reference data set for salesmethods.
One central reference data set for payment terms is assigned to all business units.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAIGL/FAIGL1493157.htm#FAIGL94314
NEW QUESTION 43
You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?
- A. Both the invoice and the credit memo are selected and the Payment Process Request requires attention.
- B. Both the invoice and the credit memo are paid and a refund of $25 USD is created.
- C. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.
- D. Both the invoice and credit memo are included in the payment process request for a payment amount of
$0 USD. The credit memo is partially paid with a remaining credit of $25 USD.
Answer: D
Explanation:
Explanation
When you submit 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 illustrate the 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 tabledescribes the payment processing that occurs based on the setting for the Apply credits up to 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 44
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