1Z0-1055-24 Accurate Study Material, 1Z0-1055-24 Valid Exam Question

We have handled professional 1Z0-1055-24 practice materials for over ten years. Our experts have many years’ experience in this particular line of business, together with meticulous and professional attitude towards jobs. Their abilities are unquestionable, besides, 1Z0-1055-24 practice materials are priced reasonably with three kinds. We also have free demo offering the latest catalogue and brief contents for your information, if you do not have thorough understanding of our materials. Many exam candidates build long-term relation with our company on the basis of our high quality 1Z0-1055-24 practice materials.

As a responsible company, we don't ignore customers after the deal, but will keep an eye on your exam situation. Although we can assure you the passing rate of our 1Z0-1055-24 training guide nearly 100 %, we can also offer you a full refund if you still have concerns. So you have nothing to worry about, only to study with our 1Z0-1055-24 Exam Questions with full attention. And as we have been in this career for over ten years, our 1Z0-1055-24 learning materials have became famous as a pass guarantee.

>> 1Z0-1055-24 Accurate Study Material <<

1Z0-1055-24 Valid Exam Question, 1Z0-1055-24 Valid Exam Testking

Our product for the 1Z0-1055-24 exam is compiled by the skilled professionals who have studyed the exam for years, therefore the quality of the practic materials are quite high, it will help you to pass the exam with ease. Free update for the latested version within one year are available. And the questions and answers of the 1Z0-1055-24 Exam are from the real exam, and the answers are also verified by the experts, and money back guarantee. The payment of the 1Z0-1055-24 exam is also safe for our customers, we apply online payment with credit card, it can ensure the account safety of our customers.

Oracle 1Z0-1055-24 Exam Syllabus Topics:

Topic	Details
Topic 1	Using Reporting and Managing Period Close: This section measures the understanding of Financial Analysts in utilizing reporting tools and managing period-end activities1. It includes explaining Oracle Transactional Business Intelligence (OTBI), using Business Intelligence Publisher (BIP) Reports, using the Payables to Ledger Reconciliation Report, and explaining the close process1. These skills are essential for monitoring financial performance and ensuring accurate period-end closing.
Topic 2	Configuring Payables and Payments: This section assesses the skills of Implementation Consultants in configuring payables and payments within Oracle Financials Cloud156. It covers managing withholding and transaction taxes, configuring payables and payments, managing business units, managing sub-ledger accounting, and managing invoice and payment approvals1. These skills are vital for setting up and customizing the system to meet specific business requirements.
Topic 3	Using AI Capabilities in Payables: This section measures the skills of AI Implementation Specialists in leveraging AI within Oracle Payables1. It covers understanding how to leverage Oracle’s pervasive AI approach in Oracle Cloud Applications, describing the integration and application of AI within the Oracle ERP ecosystem, and using AI to automate intelligent account combination defaulting1. These skills ensure the effective utilization of AI to improve efficiency and accuracy in payables processes.
Topic 4	Processing Expenses: This section evaluates the capabilities of Auditors in managing expense-related tasks156. It covers entering expense reports, managing expense approvals, processing expense reimbursements, managing corporate cards, auditing expense reports, and setting up expenses within the system. These skills ensure compliance with expense policies and accurate reimbursement processes.

Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions (Q54-Q59):

NEW QUESTION # 54
Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation Report?

A. Supplier
B. Primary Ledger
C. Business Unit
D. Balancing Segment Value
E. Accounting Period
F. Natural Account

Answer: C,D,E

Explanation:
Comprehensive and Detailed In-Depth Explanation:
The Prepare Payables to General Ledger Reconciliation process in Oracle Financials Cloud is essential for ensuring that your payables and general ledger data are aligned. When submitting this process, you have several parameters available to filter and select the specific data you need for reconciliation. The key parameters include:
Business Unit (Option A):
Purpose: Allows you to reconcile data for a specific business unit within your organization. This is particularly useful if your enterprise structure includes multiple business units and you need to focus on one at a time.
Reference:
Accounting Period (Option B):
Purpose: Enables you to select the accounting period (either open or closed) for which you want to prepare the reconciliation data. This ensures that the report focuses on the transactions relevant to the specified time frame.
Balancing Segment Value (Option C):
Purpose: Allows you to filter the data by specific balancing segment values, which correspond to entities like companies or divisions within your chart of accounts. This is useful for reconciling data at a more granular level.
While options D (Supplier), E (Primary Ledger), and F (Natural Account) are important attributes within the payables and general ledger modules, they are not listed as direct filter parameters for the Prepare Payables to General Ledger Reconciliation process. Therefore, the correct answers are A. Business Unit, B. Accounting Period, and C. Balancing Segment Value.

NEW QUESTION # 55
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 Party Tax Profile of the Third Party Site
B. From the Site Assignments of the Supplier Site (Correct Answer)
C. From the Ship-to Location selected on the invoice
D. From the Site Assignments of the Supplier Site

Answer: D

Explanation:
The Withholding Tax Classification Code can be assigned at the supplier site level in Oracle Financials Cloud.
When a supplier site has a predefined withholding tax classification, this automatically defaults onto the invoice line when an invoice is created for that supplier site.
This setup ensures that consistent withholding tax is applied to transactions related to that supplier.
According to Oracle documentation:
"For supplier sites that use withholding tax, the withholding tax classification that you define at the supplier site assignment level is used to populate the default tax classification on the invoice." (Oracle Financials Cloud Payables Guide) B: From the Party Tax Profile of the Third Party Site (Incorrect Answer) The Party Tax Profile contains tax-related settings for a supplier or third-party entity, including tax registration details.
However, it does not directly default the Withholding Tax Classification Code onto invoice lines.
Instead, the Party Tax Profile provides high-level tax configurations that may influence tax calculations but does not assign the default withholding tax classification.
C: From the Ship-to Location selected on the invoice (Incorrect Answer) The Ship-to Location on an invoice is used for logistics and sales tax calculations based on where goods are delivered.
It does not impact withholding tax, which is typically linked to the supplier or supplier site.
Therefore, the Withholding Tax Classification Code does not default from the Ship-to Location.
Final Conclusion:
The correct source of the default Withholding Tax Classification Code on an invoice line is the Supplier Site Assignment.
This ensures that withholding tax is consistently applied to transactions involving that supplier, reducing errors in tax calculations.
Reference:
Oracle Financials Cloud Documentation - Withholding Tax Classifications in Payables (Oracle Documentation Link) Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Financials Cloud, when a Payables user creates a manual invoice, the Withholding Tax Classification Code can default onto the invoice line from various sources depending on the system configurations. The correct source for defaulting this code is from the Site Assignments of the Supplier Site.
Explanation of Each Option:

NEW QUESTION # 56
An installment for $2,000 USD is due for payment on July 31, 2022. The installment has two discounts: the first discount date is June 15, 2022 for $150 USD and the second discount date is June 30, 2022 for $50 USD.
You submit a Payment Process Request with the following criteria:
Payment Date = June 20, 2022
Pay Through Date = July 30, 2022
Date Basis = Due Date
What will be the resulting status of the installment and discount?

A. The installment is not selected because the due date is after the Pay Through Date.
B. The installment is selected and a discount of $50 USD is applied.
C. The installment is selected and a discount of $150 USD is applied.
D. The installment is selected and no discount is applied.
E. The installment is not selected because the discount dates are before the Pay Through Date.

Answer: A

NEW QUESTION # 57
You are testing the Payables to General Ledger Reconciliation report at the ledger level for your UK Ledger.
You have run and selected the extract for the report but the request returned the message: "No data to display".
What is the reason for this?

A. You did not specify the range of liability accounts to include in the extract.
B. You did not select the business units associated to the UK Ledger.
C. The financial category of Accounts Payable is not assigned to the liability accounts.
D. The reconciliation flag has not been enabled for your liability accounts.

Answer: C

NEW QUESTION # 58
You recently processed a payment for a vendor and later discovered that the payment was made in error and needs to be voided. While voiding the payment, you selected Cancel as the Invoice Action. After performing the invoice voiding, you notice that the invoice is not cancelled; instead, it has an Invoice Cancel hold applied to it.
What is the reason for this?

A. The invoice date is not in the current open period.
B. The invoice has been partially paid by another payment.
C. The invoice is already on hold.

Answer: B

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Payables, voiding a payment involves specific actions that affect the associated invoices. When a payment is voided, users have the option to select an Invoice Action, such as Cancel, Hold, or None. The chosen action determines the subsequent status of the invoice linked to the voided payment.
A . The invoice date is not in the current open period.
If an invoice's date falls outside the current open accounting period, certain actions may be restricted. However, this condition does not specifically result in an Invoice Cancel hold being applied when attempting to void a payment. Therefore, this is not the reason for the observed behavior.
B . The invoice is already on hold.
An invoice that is already on hold may have restrictions on further processing. However, the presence of an existing hold does not directly lead to the application of an Invoice Cancel hold during the voiding process. Thus, this is not the cause of the issue.
C . The invoice has been partially paid by another payment.
When an invoice has been partially paid by multiple payments, voiding one of the payments and selecting Cancel as the Invoice Action does not cancel the invoice. Instead, Oracle Payables applies an "Invoice Cancel" hold to the invoice. This hold indicates that the invoice cannot be fully canceled because it has been partially satisfied by another payment. To resolve this, the remaining payments must be addressed appropriately before the invoice can be canceled. This behavior is documented in Oracle's guidelines, which state that attempting to cancel an invoice partially paid by another payment results in an Invoice Cancel hold being applied.
docs.oracle.com
Understanding the conditions under which Invoice Actions apply is crucial for effective invoice and payment management in Oracle Payables. Recognizing that partially paid invoices cannot be canceled outright helps prevent processing errors and ensures accurate financial records.

NEW QUESTION # 59
......

You don't need to worry about wasting your precious time but failing to get the 1Z0-1055-24 certification. Many people have used our study materials and the pass rate of the exam is 99%. This means as long as you learn with our study materials, you will pass the 1Z0-1055-24 exam without doubt. If any incident happens and you don't pass the 1Z0-1055-24 Exam, we will give you a full refund. Our sincerity stems from the good quality of our products. We will give you one year's free update of the exam study materials. Now just make up your mind and get your 1Z0-1055-24 exam torrent!

1Z0-1055-24 Valid Exam Question: https://www.freecram.com/Oracle-certification/1Z0-1055-24-exam-dumps.html