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Oracle 1Z0-1055-23 Exam Overview:

Certification Vendor:Oracle
Exam Name:Oracle Financials Cloud: Payables 2023 Implementation Professional
Exam Number:1Z0-1055-23
Related Certifications:Oracle Financials Cloud Certifications
Oracle ERP Cloud Financials Certifications
Exam Format:Multiple Choice, Scenario-based questions
Available Languages:English
Exam Duration:90 minutes
Recommended Training:Oracle University Financials Cloud Payables Training
Exam Registration:Oracle Certification Registration
Pearson VUE Oracle Exams
Sample Questions:Oracle 1Z0-1055-23 Sample Questions
Exam Way:Online proctored exam via Pearson VUE or authorized testing center
Pre Condition:No formal prerequisite required; recommended experience with Oracle Financials Cloud Payables implementation and configuration.
Official Syllabus URL:https://education.oracle.com/oracle-certification-exams

Oracle 1Z0-1055-23 Exam Syllabus Topics:

SectionObjectives
Reporting and Period Close- Period close activities
  • 1. Reconciliation and period close process
    - Payables reporting
    • 1. Standard Payables reports
      Payments Processing- Payment processing and execution
      • 1. Payment runs and settlements
        • 2. Payment methods and formats
          Supplier Management- Supplier setup and maintenance
          • 1. Supplier and supplier site configuration
            • 2. Supplier validation rules
              Tax and Accounting Integration- Subledger accounting integration
              • 1. Accounting entries for invoices and payments
                - Tax configuration and calculation
                • 1. Tax rules in Payables
                  Invoice Processing- Invoice creation and validation
                  • 1. Manual and automated invoice entry
                    • 2. Invoice validation and approval workflow
                      Payables Setup and Configuration- Payables application configuration
                      • 1. Ledger and accounting setup for Payables
                        • 2. Payables options configuration

                          Oracle Financials Cloud: Payables 2023 Implementation Professional Sample Questions:

                          1. Which three are Invoice Header attributes that can be used during invoice approval rule creation? (Choose three.)

                          A) Statistical Amount
                          B) Pay Group Lookup Code
                          C) Requester Name
                          D) Business Unit Name
                          E) Accounting Date


                          2. 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 pays only $200 USD alone.
                          B) 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.
                          C) 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.
                          D) The payment process request creates a refund for $225 USD and leaves the invoice unpaid.


                          3. The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? (Choose three.)

                          A) All related withholding tax invoices are automatically voided.
                          B) Any previous accounting and payment records for an invoice are reversed.
                          C) Any realized gain or loss previously calculated is reversed.
                          D) All related interest invoices are reversed if previously created.
                          E) Voiding the payment automatically places an invoice on hold.


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

                          A) Payables Trial Balance and General Ledger Trial Balance reports
                          B) Payables to Ledger Reconciliation report
                          C) Payables Aging reports with the General Ledger Trial Balance report
                          D) General Ledger Financial Statements and the Accounts Payable and Invoice Registers


                          5. When reviewing installments, what setup is required to override the supplier site on an invoice?

                          A) Allow the remit-to supplier override for third-party payments at Manage Payment options.
                          B) Allow payee to override for third-party payments while Manage Invoice options.
                          C) Allow the remit-to supplier override for third-party payments at Manage Invoice options.
                          D) Allow the remit-to supplier address override for third-party payments at Manage Invoice options.


                          Solutions:

                          Question # 1
                          Answer: B,C,D
                          Question # 2
                          Answer: A
                          Question # 3
                          Answer: A,B,C
                          Question # 4
                          Answer: C
                          Question # 5
                          Answer: D

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