Oracle Financials Cloud: Receivables 2023 Implementation Professional v1.0 (1z0-1056-23)

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Total 24 questions

Your organization has decided to use the Portal Upload delivery method for some of their customers. You will be using this in place of other options, such as Print, Email, or XML, to deliver customer invoices.
Which step must be performed in the system to deliver transactions to your customers by using the Portal Upload method?

  • A. Select Portal Upload as a delivery method on Customer Profile under Statement and Dunning.
  • B. Create a custom preferred delivery method in the Manage Receivables Lookups task in Functional Setup Manager.
  • C. Select Portal Upload as a delivery method on Customer Profile under Invoicing.
  • D. Run the Create Customer Statement process in Scheduled Processes.
  • E. Create a custom-preferred delivery method in the Manage Receivables System Options task in Functional Setup Manager.

Answer : C

After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.
What are three results of this action? (Choose three.)

  • A. The invoice can now be printed.
  • B. The invoice is sent for a dunning follow-up.
  • C. The invoice is eligible for transfer to the General Ledger.
  • D. The payment schedules are created using the payment terms specified.
  • E. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.

Answer : ACD

When you run AutoInvoice, the process may generate a list of records that fail validation.
Using which two methods/features, can you display the AutoInvoice errors in an Excel workbook? (Choose two.)

  • A. The Incomplete Infotile
  • B. The Manage Transactions task
  • C. The Import Exceptions Infotile
  • D. The Manage AutoInvoice Lines task

Answer : BC

When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition.
Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two.)

  • A. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
  • B. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
  • C. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
  • D. Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.
  • E. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.

Answer : AB

Your customer receives their invoices via the XML delivery method. They want to receive billing transactions for specific sites only. Now you have been tasked with creating a very focused delivery method of XML transactions for this customer site that should be receiving the invoice.
To define this setup, you must add a new lookup code to the AR_Features lookup type in the Manage Receivables Lookups task.
Which lookup code would you use?


Answer : B

Your organization is looking to adopt a flexible approach to control the creation of claims investigation when the lockbox files contain invalid positive remittance references. This feature helps manage lockbox files that encounter invalid transaction numbers for receipts with customer assignment.
When this option is enabled in the Manage Receivables System Options task, which process must be run in Scheduled Processes to process Lockbox Receipts with invalid transaction referenced?

  • A. Process Receipts and Remittances through Lockbox
  • B. Process Lockbox Receipts
  • C. Process Lockbox Receipts and Remittance References
  • D. Process Receipts through Lockbox

Answer : B

Upon approval of a remittance batch of type Factored with Recourse, the Receivables application creates a receipt and establishes risk.
How does Receivables establish risk?

  • A. By recording short-term debt
  • B. By generating a bills receivables adjustment
  • C. By recording an entry to the Remitted Bills Receivable account
  • D. By creating an on-account credit memo

Answer : A

Which three receipt types can be reversed in the Cloud? (Choose three.)

  • A. Receipts applied to open receipts
  • B. Miscellaneous receipts
  • C. Credit card chargebacks posted to GL
  • D. Receipts that are archived
  • E. Invoice-related receipts

Answer : BCE

While reviewing Balance Forward Bill Infotile on the Account Overview page in Bill Management, you notice that it is only displaying balance forward bills raised in the last month.
How can you increase the number of months to view past balance forward bills?

  • A. Add the number of months as a value for the BILL_MANAGEMENT lookup code
  • B. House Bill Management System Options
  • C. Use the threshold view of Balance Forward Bill Infotile
  • D. Use Receivables System Options

Answer : D

After creating Receivables Activities using the General Ledger Rapid Implementation workbook upload process, a Receivables Manager wants to review and make changes if required, to the account assignments created for these Receivables Activities.
Which two Receivables Activities DO NOT have account assignments to review and change? (Choose two.)

  • A. Earned Discounts
  • B. Debit Memo Reversal
  • C. Miscellaneous Receipt
  • D. Adjustment Activities
  • E. Unearned Discounts

Answer : BC

You created a new enterprise structure in the Cloud for a single country. In the structure, there are two legal entities: a single ledger and two business units (representing two warehouses, each owned by one of the legal entities). The tax regulations are common between the legal entities.
When assigning the tax regime to parties, what should you do to share all setup for Tax?

  • A. Assign one legal entity to Global Configuration and one legal entity to Party Specific Configuration.
  • B. Assign one legal entity to Global Configuration and one business unit to First Party Configuration with Party Overrides.
  • C. Assign both business units to Global Configuration Owner.
  • D. Assign the ledger to Global Configuration Owner.
  • E. Assign two business units to First Party Configuration with Party Overrides.

Answer : D

You are asked to amend subledger accounting and reporting to include origin and history of Receivable transactions.
Which three event attributes should be used? (Choose three.)

  • A. Transaction number of amendments
  • B. Transaction type of update
  • C. Transaction creation date
  • D. Transaction created by
  • E. Transaction last update date

Answer : ABE

When entering the Customer import upload spreadsheet, which two columns, if populated with #NULL, will remove the existing values on loading? (Choose two.)

  • A. First Review Date
  • B. Credit Review Cycle
  • C. Order Line Credit Limit
  • D. Credit Limit

Answer : AD

You are an IT contractor for a client who wants to increase internal controls on bank accounts set up in the Cash Management application. According to their new policy, a Cash Manager's ability to add, review, or make changes to bank accounts must be regionalized and restricted by their org structure.
Which statement is true about the restrictions applied to the setup?

  • A. Cash Managers can create and manage bank accounts for only those legal entities to which they are given access.
  • B. Cash Managers can create and manage bank accounts for only those business units to which they are given access.
  • C. Cash Managers can only create but not manage bank accounts for those legal entities to which they are given access.
  • D. Cash Managers cannot create but only manage bank accounts for those legal entities to which they are given access.

Answer : A

As an implementer, while importing data from a legacy/third-party system, you forgot to populate the accounting distribution in the RA_INTERFACE_DISTRIBUTIONS_ALL table.
What happens when you run accounting?

  • A. Invoice will get created but accounting will not be created.
  • B. It will return an error and the data will be stuck in the interface table.
  • C. Invoice will be created and the system will use the AutoAccounting configuration to create accounting.
  • D. Neither invoice nor accounting will be created.

Answer : C

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Total 24 questions