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Oracle 1Z0-1055-23 Exam Syllabus Topics:

SectionWeightObjectives
Payables Configuration and Setup30%- Configure Payables System Options
  • 1. Define tax configurations and withholding tax rules
    • 2. Set up payment terms, payment methods, and payment formats
      - Configure Enterprise Structures
      • 1. Set up business units, legal entities, and ledgers
        • 2. Define supplier master data and supplier sites
          Invoice Processing and Management25%- Invoice Entry and Validation
          • 1. Validate invoices, resolve holds, and perform matching
            • 2. Enter standard invoices, credit memos, and debit memos
              - Prepayments and Expense Invoices
              • 1. Process employee expense reports and invoices
                • 2. Apply and account for prepayments
                  Payments and Disbursements25%- Reconciliation and Accounting
                  • 1. Account for payments, discounts, and foreign currency transactions
                    • 2. Reconcile payables to general ledger
                      - Payment Processing
                      • 1. Create, approve, and issue payments
                        • 2. Manage payment batches and bank accounts
                          Reporting, Integration, and Maintenance20%- Reporting and Analytics
                          • 1. Run standard payables reports and create custom reports
                            • 2. Use Business Intelligence and reporting tools
                              - Integration and Maintenance
                              • 1. Perform period-end close and maintenance activities
                                • 2. Integrate with other Oracle Cloud modules

                                  Oracle Financials Cloud: Payables 2023 Implementation Professional Sample Questions:

                                  What does the Place of Supply rule value "Bill to Party" imply in an Oracle Payables Invoice?

                                  • A. Location assigned to the Legal Entity Reporting Unit for the transactions
                                  • B. Location assigned to the Legal Entity for the transactions
                                  • C. Location assigned to the Supplier Party Site for the transactions
                                  • D. Location assigned to the Business Unit for the transactions
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

                                  Explanation: Only visible for PassLeaderVCE members. You can sign-up / login (it's free).

                                  Which reports can show you differences between your subledger balances and general ledger balances to help you reconcile quickly?

                                  • A. General Ledger Financial Statements and the Accounts Payable and Invoice Registers
                                  • B. Payables Trial Balance and General Ledger Trial Balance reports
                                  • C. Payables to Ledger Reconciliation report
                                  • D. Payables Aging reports with the General Ledger Trial Balance report
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

                                  Explanation: Only visible for PassLeaderVCE members. You can sign-up / login (it's free).

                                  Which job role has full access to perform all Functional Setup Manager related activities?

                                  • A. Functional Setup Manager Superuser
                                  • B. Application System Administrator
                                  • C. IT Security Manager
                                  • D. Any Functional User
                                  • E. Application Implementation Consultant
                                  Reveal Solution  Discussion  0

                                  Correct Answer: E  🗳️

                                  You have invoices with distributions across primary balancing segments that represent different companies.
                                  What feature should you use if you want the system to automatically balance your invoice's liability amount across the same balancing segments on the invoice distributions?

                                  • A. Intercompany Balancing
                                  • B. Suspense Accounts
                                  • C. Payable's Automatic Offset
                                  • D. Payables' Allow Reconciliation Accounting
                                  • E. Subledger Accounting's Account Rules
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

                                  Explanation: Only visible for PassLeaderVCE members. You can sign-up / login (it's free).

                                  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 as the owner of each business unit on the Manage Business Unit Set Assignments page.
                                  • B. Assign the Expense Auditor job role to each auditor and associate the business unit to the role by using the Manage Data Access for Users page.
                                  • C. Assign the Expense Auditor job role to each auditor and use a data access set to associate the business unit to the role.
                                  • D. Assign the Expense Auditor job role to each auditor and use segment value security rules to secure access to the business units.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  🗳️

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