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Oracle 1Z0-1055-23 Exam Syllabus Topics:

SectionWeightObjectives
Payables Configuration and Setup30%- Configure Enterprise Structures
  • 1. Set up business units, legal entities, and ledgers
    • 2. Define supplier master data and supplier sites
      - Configure Payables System Options
      • 1. Set up payment terms, payment methods, and payment formats
        • 2. Define tax configurations and withholding tax rules
          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
                  Invoice Processing and Management25%- Prepayments and Expense Invoices
                  • 1. Process employee expense reports and invoices
                    • 2. Apply and account for prepayments
                      - Invoice Entry and Validation
                      • 1. Enter standard invoices, credit memos, and debit memos
                        • 2. Validate invoices, resolve holds, and perform matching
                          Payments and Disbursements25%- Payment Processing
                          • 1. Manage payment batches and bank accounts
                            • 2. Create, approve, and issue payments
                              - Reconciliation and Accounting
                              • 1. Account for payments, discounts, and foreign currency transactions
                                • 2. Reconcile payables to general ledger

                                  Oracle Financials Cloud: Payables 2023 Implementation Professional Sample Questions:

                                  What are the two advantages of using a spreadsheet for correcting invoice import errors?

                                  • A. identification of errors with clear error messages at the invoice header and line levels
                                  • B. ability to correct errors within the spreadsheet and send invoice corrections for approval
                                  • C. ability to correct errors and re-import invoices directly from a spreadsheet
                                  • D. ability to enter a high volume of invoices via a spreadsheet
                                  • E. identification of errors with clear error messages at the invoice header level only
                                  Answer: C,E

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

                                  What is the invoice type of an unapproved, unmatched invoice that was created in the Supplier Portal?

                                  • A. Supplier payment request
                                  • B. Standard Invoice
                                  • C. Standard invoice request
                                  • D. iSupplier Invoice
                                  • E. Credit Memo
                                  Answer: A

                                  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?

                                  • A. From the Manage Tax Reporting and Withholding Tax Options
                                  • B. From the Income Tax region of the Supplier
                                  • C. From the Party Tax Profile of the Third Party Site
                                  • D. From the Site Assignments of the Supplier Site
                                  Answer: D

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

                                  Identify three scenarios where you are not allowed to cancel an invoice. (Choose three.)

                                  • A. The invoice is validated.
                                  • B. An accounting entry has been created for the invoice.
                                  • C. Prepayments were applied to the invoice.
                                  • D. The invoice is fully or partially paid.
                                  • E. The invoice was adjusted by a credit or a debit memo.
                                  Answer: A,C,E

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

                                  Your client wants the subledger journal entry description to be transferred to general ledger.
                                  Which two could be used to enable this?

                                  • A. Set the General Ledger Journal Entry Summarization option to Group by general ledger date
                                  • B. Set the General Ledger Journal Entry Summarization option to Group by general ledger period
                                  • C. Set the General Ledger Journal Entry Summarization option to Summarize by general ledger period
                                  • D. Set the General Ledger Journal Entry Summarization option to Summarize by general ledger date
                                  Answer: C,D

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