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>> Valid 1Z0-1055-24 Test Blueprint <<
Most of the candidates who plan to take the 1Z0-1055-24 certification exam lack updated practice questions to ace it on the first attempt. Due to this, they fail the Oracle Financials Cloud: Payables 2024 Implementation Professional (1Z0-1055-24) test, losing money and time. And in some cases, applicants fail on the second attempt as well because they don't prepare with 1Z0-1055-24 Actual Exam questions. This results in not only the loss of resources but also the motivation of the candidate.
NEW QUESTION # 17
MANAGE EXPENSE REPORT TEMPLATE
Task 1:
Create an Expense Report Template for the US1 Business Unit, where:
a. The effective start date is the current date.
b. The hotel expense type requires itemization and should include Internet, Room Rate, and Dinner.
c. The expense type is associated with the respective account
d. Card Expense Type Mapping is not enabled.
e. Company policy states that receipts
f. Users can indicate receipts are missing in their expense report and a warning should be displayed for any missing receipts.
g. All Expense Fields are optional.
Answer:
Explanation:
See the Explanation for Step-by-Step Solution.
Explanation:
Task 1: Create an Expense Report Template for the US1 Business Unit
The following configurations need to be implemented:
# Effective Start Date: The current date.# Hotel Expense Type: Requires itemization with Internet, Room Rate, and Dinner.# Expense Type: Associated with the respective GL account.# Card Expense Type Mapping: Not enabled.# Receipts Policy: Users can indicate missing receipts, and a warning should be displayed.# Expense Fields: All fields should be optional.
Step-by-Step Solution
Step 1: Navigate to Expense Report Templates
* Log in to Oracle Financials Cloud with the Expense Manager or Financial Administrator role.
* Navigate to Setup and Maintenance.
* In the Search Bar, type "Manage Expense Report Templates".
* Click on Manage Expense Report Templates.
Step 2: Create a New Expense Report Template
* Click Create New Template.
* Enter the following details:
* Name: "US1 Business Unit Expense Report"
* Business Unit: US1 Business Unit
* Effective Start Date: (Set to current date)
* Enable for Use: # (Check this box)
* Click Save.
Step 3: Define the Expense Type - Hotel with Itemization
* Navigate to the Expense Types tab.
* Click Add Expense Type.
* Enter the following details:
* Expense Type Name: "Hotel"
* Expense Category: "Lodging"
* Requires Itemization: # (Check this box)
* Under Itemization, click Add Itemization Categories:
* Internet
* Room Rate
* Dinner
* Click Save.
Step 4: Associate Expense Types with GL Accounts
* Click on Edit Expense Type "Hotel".
* Go to the Accounting section.
* Select the appropriate GL Account for lodging expenses.
* Repeat this process for other required expense types.
* Click Save and Close.
Step 5: Disable Card Expense Type Mapping
* Navigate to the Corporate Card Expense Mapping tab.
* Ensure the "Enable Corporate Card Mapping" checkbox is unchecked.
* Click Save.
Step 6: Configure Receipts Policy
* Navigate to the Receipts tab.
* Under Receipt Handling, set:
* Company Policy: Employees must provide receipts.
* Allow users to indicate missing receipts? # (Check this box).
* Action for Missing Receipts: Raise a Warning (so that expense submission is not blocked).
* Click Save.
Step 7: Set Expense Fields as Optional
* Navigate to the Fields Setup tab.
* Ensure all Expense Fields are set to Optional.
* Click Save and Close.
Step 8: Validate and Activate the Template
* Review all configurations.
* Click Submit and Activate.
* Run the Validate and Deploy Expense Templates process to ensure all settings are applied.
Step 9: Testing the Expense Report Template
* Simulate an Expense Report Submission:
* Select Hotel Expense and enter details.
* Verify if the system requires itemization (Internet, Room Rate, Dinner).
* Submit without a receipt to check if a warning is displayed.
* Ensure all fields remain optional.
* Verify no corporate card expense mapping applies.
Expected Outcome:
# The Expense Report Template is successfully created for US1 Business Unit.# Hotel expenses require itemization into Internet, Room Rate, and Dinner.# Receipts are required, and a warning is displayed for missing receipts.# GL Account mapping is correctly applied to each expense type.# Card Expense Type Mapping is disabled.# All fields are optional, allowing flexible data entry.
Conclusion
By following these steps, we have successfully created and configured an Expense Report Template that meets all business requirements for the US1 Business Unit.
NEW QUESTION # 18
An installment meets all the selection criteria of a Payment Process Request, but it still does not get selected for payment processing.
What are the two reasons for this?
Answer: D,E
Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Financials Cloud, even when an installment meets the selection criteria of a Payment Process Request (PPR), certain conditions can prevent it from being selected for payment processing. Understanding these conditions is crucial for troubleshooting and ensuring a smooth payment workflow.
Analysis of Each Option:
A: The pay-through date is in a future period.
* Explanation: The pay-through date in a PPR determines the latest due date of invoices to be included for payment. Setting this date in the future is a common practice to include all invoices due up to that date. Therefore, having a pay-through date in a future period would not prevent installments from being selected; instead, it broadens the selection criteria. This is not a reason for an installment not being selected.
B: The pay-through date is in a closed Payables period.
* Explanation: The pay-through date affects which invoices are selected based on their due dates, but it does not directly relate to the status of accounting periods. While processing payments in a closed period is not allowed, the pay-through date itself being in a closed period does not prevent installment selection. Therefore, this is not a valid reason for an installment not being selected.
C: The invoice needs re-validation.
* Explanation: Invoices that have undergone changes affecting their payment attributes may require re- validation. If an invoice is in a status indicating it needs re-validation, it will not be selected for payment processing until the validation process is successfully completed. This ensures that all invoice data is accurate and meets the necessary criteria for payment. According to Oracle documentation, an installment might not get selected if "The invoice must be revalidated." docs.oracle.com D: The invoice requires approval.
* Explanation: Invoices often need to go through an approval workflow to ensure their legitimacy and accuracy. If an invoice has not received the necessary approvals, it remains in a pending status and is excluded from payment processing. Ensuring that all invoices are approved is essential for them to be selected in a PPR. The Oracle documentation states that an installment might not get selected if "The invoice requires approval." docs.oracle.com E: The invoice has not been accounted.
* Explanation: While accounting is a critical aspect of financial management, the accounting status of an invoice does not typically prevent it from being selected for payment. Invoices can be selected and paid even if they have not yet been accounted, with accounting entries being created subsequently.
Therefore, the lack of accounting is not a reason for an installment not being selected in a PPR.
Conclusion:
The two primary reasons an installment, despite meeting selection criteria, might not be selected for payment processing are:
* C. The invoice needs re-validation.
* D. The invoice requires approval.
Ensuring that all invoices are validated and approved is essential for their inclusion in payment processing.
Reference:
Oracle Financials Cloud Documentation - Why didn't an installment get selected for payment?https://docs.
oracle.com/en/cloud/saas/financials/24d/fappp/why-didn-t-an-installment-get-selected-for-payment.html
NEW QUESTION # 19
One of your clients notifies their suppliers of rejected invoices via email. You suggest that they instead send notifications to suppliers for rejected electronic invoices using industry-standard XML as a UBL 2.1 Invoice Response Message. Your client wants to know about the benefits of making this switch.
Which two benefits of this feature can you share with them?
Answer: A,C
NEW QUESTION # 20
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?
Answer: A
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 # 21
You have been asked with creating an Oracle transactional Business Intelligence (OTBI) analysis to help reconcile payables balances against general ledger. The analysis must show both posted invoices and Payments.
Which subject area must you select to create this analysis?
Answer: D
NEW QUESTION # 22
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