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Oracle 1z0-1055-22 certification exam is a highly sought-after certification for professionals who are looking to advance their careers in the field of finance and accounting. Oracle Financials Cloud: Payables 2022 Implementation Professional certification exam evaluates an individual’s knowledge of Oracle Financials Cloud Payables 2022 features and functionalities, including supplier management, invoice processing, payment processing, and expense management.

Oracle 1z0-1055-22 certification exam is designed for professionals who want to prove their expertise in implementing Oracle Financials Cloud Payables 2022. 1z0-1055-22 exam measures the knowledge and skills of candidates in various areas, including supplier management, invoice processing, payments, and accounting entries. Oracle Financials Cloud: Payables 2022 Implementation Professional certification is ideal for individuals who have experience in implementing financial applications and want to enhance their career in financial management.

QUESTION 11
You have 10 ledgers and 30 business units and want to leverage Preference Data Sets. What is the function of Reference Data Sets?

 allow you to secure data by business unit

 allow you to assign multiple business units to users in a shared service center

 allow you to maintain sets of related data in a Data Dictionary

 allow you to share reference data, such as payment terms, across multiple business units to avoid redundant setup

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

QUESTION 12
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 Self-Service Service Provider Model

 a Dedicated Service Provider model

 Business Unit Security

 a Dedicated and Self-Service Service Provider Model

QUESTION 13
A Payables user creates a manual invoice and a Withholding Tax Classification Code defaults on the invoice line when the invoice is saved.
Where does this Withholding Tax Classification Code default from?

 From the Party Tax Profile of the Third Party Site

 From the Manage Tax Reporting and Withholding Tax Options

 From the Income Tax region of the Supplier

 From the Site Assignments of the Supplier Site

Set withholding tax options on the Manage Tax Reporting and Withholding Tax Options page and on the supplier setup.

QUESTION 14
If you accidentally paid an invoice using Create Payment flow, can you undo the operation?

 yes, by canceling the payment process from the process monitor

 Cancel the invoice and create a new one.

 yes, by voiding the payment created

 yes, by creating a credit memo to offset the payment

 no

You cannot terminate a Payment Instruction:
References:https://docs.oracle.com/cd/E18727_01/doc.121/e12797/T295436T369088.htm

QUESTION 15
Which statement is correct if the payment terms entered in the invoice differ from the payment terms on the purchase order?

 The user needs to specify which payment term to use.

 The payment term of the purchase order overrides the invoice payment term.

 The payment term of the invoice overrides the purchase order payment term.

 The purchase order payment term cannot be overridden.

 The user needs to manually change the payment term on the invoice to match the purchase order payment term.

QUESTION 16
Your customer has requested a modification to the payment file to meet the acceptable bank standards. The changes were based on a format of a seeded payment process profile which is already in use. The only changes made are to the field positions. What two steps can make these changes work?

 No change in the template is needed as we can achieve this using user-defined validations to move the positions as required.

 Keep the payment process profile and leave the format programs unchanged.

 Copy and modify the existing template to alter the positions as requested by the bank.

 Create a newpayment process profile and a new format program.

 Create a new template to make changes as requested by the bank.

 Oracle Data Integrator or Golden Gate can be used to map the fields as required.

QUESTION 17
Which three attributes are captured during the scanning of invoice images?

 Invoice Date

 Invoice Number

 Terms Date

 PO Number

 Payment Method

For Payables invoice processing, PO number, supplier, invoice number, invoice amount, invoice date, customer taxpayer ID, and business unit are extracted as part of the predefined configurations.
This figure shows the Scanned information tileon the Invoices landing page.

References:http://docs.oracle.com/cd/E36909_01/fusionapps.1111/e20375/F569958AN60E65.htm

QUESTION 18
You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?

 Transfer the data to General Ledger.

 Validate the invoice in Payables.

 Create a payment process request in Payments.

 Create Accounting for the invoice in Payables.

Oracle Fusion Expenses provides reimbursement functionality that ensures corporate card issuers and employees are reimbursed for business expenses. Expenses uses Oracle Fusion Payables to process expense reports for reimbursement. To reimburse card issuers and employees, the expense auditor runs the Process Expense Reimbursement process and the corporate card administrator runs the process, Create Corporate Card Issuer Payment Requests. After payment requests are created in Payables, corporate card issuers and employees are paid by Oracle Fusion Payments.
Thisfigure shows the flow of data when the expense auditor runs the Process Expense Reimbursement program.

QUESTION 19
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?

 The installment is not selected because the discount dates are before the Pay Through Date.

 The installment is selected and no discount is applied.

 The installment is not selected because the due date is after the Pay Through Date.

 The installment is selected and a discount of $50 USD is applied.

 The installment is selected and a discount of $150 USD is applied.

References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm#FAPPP1011879

QUESTION 20
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?

 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.

 Call Visa to address the issue and tell them to make adjustments to their conversion rate. Then, wait to get a revised statement.

 Overwrite the conversion rate with the one Visa provided and enter a justification that Visa used a different conversion rate.

 Use the corporate-defined conversion rate even if it means you will not be reimbursed fully.

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

QUESTION 21
What is the name of the Work Area that is used to access Functional Setup Manager?

 Functional Work Area

 Functional Setup Manager

 Customization Manager

 Setup and Maintenance

 Customize Setup and Maintenance

All Oracle Functional Setup Manager functionality is available from the Setup and Maintenance work area.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FACSF/FACSF1004385.htm

QUESTION 22
Which is the Payables tool based on real-time data?

 Essbase Cube

 Smart View

 Oracle Transactional Business Intelligence (OTBI)

 Oracle Business Intelligence Applications (OBIA)

 Oracle Financial Reporting (FR)

Oracle Transactional Business Intelligence (OTBI) provides real-time insight into HCM business processes. Traditional ad-hoc reporting tools require a user to have an understanding of the data objects in the database.
References:http://www.oracle.com/us/products/applications/fusion/hcm-oracle-transactional-bi-ds-2187697.pdf

QUESTION 23
In the Business Intelligence Publisher (BIP) report layout properties page, when you click Extract Translation, the BIP publisher extracts the translatable strings from the BIP report template and exports them into which
format?

 .doc (Word file)

 .pdf (Acrobat reader file)

 .xls (Excel file)

 .xlf (XLIFF file)

BI Publisher extracts the translatable strings from the template and exports them to an XLIFF (.xlf file).

QUESTION 24
Identify two ways the invoice imaging solution works in the Cloud. (Choose two.)

 Customers cannot use invoice imaging in the Cloud.

 Customers scan and store the invoice images on-premise and attach them during invoice entry.

 Customers ask their suppliers to scan and email the invoice.

 Customers ask suppliers to send electronic invoices.

 Customers scan the invoice on-premise and email the images.

QUESTION 25
Which method can you use to route payment approval rules?

 Approval Groups

 Sequential

 Both Parallel and Sequential

 Parallel

 Serial and FYI (For Your Information)

 Loading …

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