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Oracle 1Z0-1055-24 Exam Syllabus Topics:

Topic	Details
Topic 1	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 2	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 3	Processing Payments: This section assesses the skills of Process Owners and focuses on creating and processing payments, along with explaining bank reconciliations within Oracle Financials Cloud156. Proficiency in these areas ensures accurate and timely payment processing, along with reconciliation for financial accuracy.
Topic 4	Managing Payables Invoices: This section measures the skills of Accounts Payable Administrators and explains invoice imaging and recognition solutions, creating and accounting for invoices, and managing suppliers within Oracle Financials Cloud156. These skills are fundamental for efficiently handling invoice processing and supplier relationships.

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Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions (Q10-Q15):

NEW QUESTION # 10
Adaptive Intelligence (AI), integrated with Oracle Payables Cloud, supports sophisticated data science that drives early payment discount offers.
Which of these is NOT a feature of early payment discounts?

A. The earlier the payment, the greater the discount.
B. Variable annual percentage rate (APR), based on "days paid early," is used to determine the discount amount.
C. Eligible discounts decrease on a sliding scale based on the supplier's discretion.

Answer: C

Explanation:
Comprehensive and Detailed In-Depth Explanation:
Oracle Payables Cloud, enhanced with Adaptive Intelligence (AI), offers a feature known as Early Payment Discounts. This functionality enables organizations to optimize their cash flow by taking advantage of discounts offered for early invoice payments.
Key Features of Early Payment Discounts:
* Variable Annual Percentage Rate (APR) Based on "Days Paid Early" (Option B):
* Explanation: The discount amount is calculated using a variable APR, which is determined based on the number of days the payment is made ahead of the due date. The earlier the payment is made, the higher the discount percentage applied.
Reference: Early Payment Discount Offers
The Earlier the Payment, the Greater the Discount (Option C):
Explanation: This principle aligns with the time value of money, where paying invoices earlier results in greater discounts. The discount decreases as the payment date approaches the invoice due date.
Reference: Early Payment Discount Offers
Clarification of Option A:
Eligible Discounts Decrease on a Sliding Scale Based on the Supplier's Discretion:
Explanation: While the discount offered decreases over time, this scaling is typically predefined in the payment terms agreed upon between the buyer and the supplier, rather than being adjusted at the supplier's discretion on a case-by-case basis. The terms are set during the establishment of the early payment discount program and are systematically applied, ensuring consistency and predictability in discount calculations.
Therefore, Option A is not a feature of the early payment discounts as implemented in Oracle Payables Cloud with Adaptive Intelligence.
References:
Early Payment Discounts
Early Payment Discount Offers
Once enrolled, a supplier discount is set and applies to all payments indefinitely, until supplier unsubscribes.

NEW QUESTION # 11
You are trying to use the Match in Full option for a purchase order, but your search for the PO is returning no results.
Which two are the reasons for this?

A. The match approval level is set to 3-way matching
B. The Purchase Order is already partially matched to an invoice
C. The Supplier or Purchase Order is set up for self-billing
D. The match approval level is set to 4-way matching

Answer: B,C

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Financials Cloud, the Match in Full feature allows users to create invoices by matching the full amount of a purchase order (PO) efficiently. However, certain conditions can prevent a PO from appearing in the Match in Full search results.
Analysis of Each Option:
A . The match approval level is set to 4-way matching
B . The Supplier or Purchase Order is set up for self-billing
docs.oracle.com
Therefore, if the supplier or PO is configured for self-billing, the PO will not appear in the Match in Full search results.
C . The match approval level is set to 3-way matching
D . The Purchase Order is already partially matched to an invoice
docs.oracle.com
Therefore, a PO that has been partially matched will not appear in the Match in Full search results.
Conclusion:
The two reasons preventing the purchase order from appearing in the Match in Full search results are:
B . The Supplier or Purchase Order is set up for self-billing
D . The Purchase Order is already partially matched to an invoice
These conditions make the Match in Full feature inapplicable, thereby excluding the PO from the search results.
Reference:
Oracle Financials Cloud Documentation - Overview of Creating Invoices Using Match in Full
https://docs.oracle.com/en/cloud/saas/financials/24b/fappp/overview-of-creating-invoices-using-match-in-full.html Oracle Financials Cloud Documentation - Overview of Creating Invoices Using Match in Full
https://docs.oracle.com/en/cloud/saas/financials/24b/fappp/overview-of-creating-invoices-using-match-in-full.html

NEW QUESTION # 12
MANAGE EXPENSE REPORT TEMPLATE
Task 2:
Create Expense Items, where:
a. The effective start date is the current date.
b. There is no tax implication.
c. Projects are not used.
d. Receipt and expense fields are the same as the expense report template.
e. The dinner expense item is associated with the Meal policy created in the previous challenge.

Answer:

Explanation:
See the Explanation for Step-by-Step Solution.
Explanation:
TASK 2: CREATE EXPENSE ITEMS
We need to create expense items with the following requirements:
# Effective Start Date: Set to current date.# No tax implications.# Projects are not used.# Receipt and expense fields should match those from the expense report template created earlier.# Dinner expense item must be linked to the Meal policy created in the previous task.
Step-by-Step Solution: Configuring Expense Items in Oracle Financials Cloud Step 1: Navigate to the Expense Items Setup
* Log in to Oracle Financials Cloud as an Expense Manager or Financial Administrator.
* Navigate to Setup and Maintenance.
* In the Search Bar, type "Manage Expense Items".
* Click on Manage Expense Items.
Step 2: Create Expense Items
* Click Create New Expense Item.
* Enter the following details:
Expense Item: Internet
* Name: "Internet"
* Expense Category: "Meals and Entertainment"
* Effective Start Date: Current Date
* Tax Classification Code: None (No tax implications)
* Projects Used? No (Uncheck "Enable for Projects")
* Receipt Required? Follow Template Policy
* Expense Fields? Set as Optional
# Click Save and Close.
Expense Item: Room Rate
* Click Create New Expense Item again.
* Enter the following details:
* Name: "Room Rate"
* Expense Category: "Lodging"
* Effective Start Date: Current Date
* Tax Classification Code: None
* Projects Used? No
* Receipt Required? Follow Template Policy
* Expense Fields? Set as Optional
# Click Save and Close.
Expense Item: Dinner (Linked to Meal Policy)
* Click Create New Expense Item again.
* Enter the following details:
* Name: "Dinner"
* Expense Category: "Meals and Entertainment"
* Effective Start Date: Current Date
* Tax Classification Code: None
* Projects Used? No
* Receipt Required? Follow Template Policy
* Expense Fields? Set as Optional
* Link to the Meal Policy Created Earlier:
* Navigate to Expense Policies.
* Select the previously created Meal Policy.
* Ensure that Dinner Expense Item is associated with this policy.
* Set Limit Type: Warning Only (if applicable).
# Click Save and Close.
Step 3: Validate and Confirm the Expense Items
* Review the created expense items.
* Ensure that:
* No tax classification codes are applied.
* Projects are disabled.
* Receipt and expense fields match those in the Expense Report Template.
* Dinner Expense Item is correctly linked to the Meal Policy.
# Click Submit and Activate.
Step 4: Test the Expense Items
* Simulate an Expense Report Submission:
* Select Internet, Room Rate, and Dinner as expense types.
* Enter sample amounts.
* Ensure that:
* No tax implications appear.
* Projects field is disabled.
* Receipt rules match the Expense Report Template.
* A warning is displayed if the Dinner Expense exceeds the Meal Policy limit.
Expected Outcome:
# Expense items are successfully created.# No tax implications are applied.# Projects are not enabled.# Receipts and expense fields match the template.# Dinner expense item is linked to the Meal Policy and displays a warning if the limit is exceeded.
Conclusion
By following these steps, we have successfully created expense items that comply with all business requirements.

NEW QUESTION # 13
Your company has set certain entertainment daily limits in its Entertainment Policy to restrict employee entertainment expenses. Oracle Expenses supports the requirements within your entertainment policy where you can configure and define daily sum limits, along with single instance limits and yearly limits that depend on your policy requirements.
What are three considerations when enabling and defining daily limits in entertainment policies?

A. Use the entertainment policy to define single, daily, or yearly limits that need to be enforced per attendee.
B. The limits apply only to company employees and excludes nonemployees.
C. This policy can be associated only with entertainment policies.
D. The limits defined in the policy will be enforced per attendee regardless of whether the policy has rate determinants set up.
E. Use the entertainment policy to define single or multiple daily limits that need to be enforced per attendee or group of attendees.
F. The limits defined in the policy will be enforced per attendee only if the policy has rate determinants set up.
G. This policy can be associated with both travel and entertainment policies.

Answer: A,C,F

NEW QUESTION # 14
MANAGE POLICIES BY EXPENSE CATEGORY
Create an Expense Policy for meals that raises a warning, if the expense exceeds the prescribed limit, without blocking the expense processing. Your expense policy should be ready to be associated with an expense type within an expense report template.

Answer:

Explanation:
See the Explanation for Step-by-Step Solution.
Explanation:
Step-by-Step Solution: Configuring an Expense Policy in Oracle Financials Cloud To configure this expense policy in Oracle Financials Cloud, follow these steps:
Step 1: Access the Expense Policies Setup Page
* Log in to Oracle Financials Cloud with the appropriate Expense Manager or Financial Administrator role.
* Navigate to Setup and Maintenance.
* Select the Task: Manage Policies by Expense Category.
Step 2: Create or Locate the Meal Expense Category
* Search for the Meals expense category.
* If the Meals category does not exist:
* Click Create Expense Category.
* Category Name: "Meals".
* Category Type: "Meals and Entertainment".
* Save the entry.
Step 3: Define a Policy Rule for Raising a Warning
* Select the Meals Expense Category and click Edit.
* Navigate to the Policies and Limits tab.
* Under Amount Limits, click Add New Rule.
* Configure the Expense Policy Rule:
* Description: "Meal Expense Warning Policy".
* Limit Type: "Warning Only".
* Limit Amount: Enter the prescribed limit (e.g., 50 USD).
* Per: Select Day (or another relevant time frame).
* Applies To: Select All Employees.
* Location-Based Rules: Leave blank if not location-specific.
* Set Warning Behavior:
* Select Raise a Warning if the expense exceeds the prescribed limit.
* Ensure the policy does not block submission or approval.
* Click Save and Close.
Step 4: Associate the Policy with an Expense Report Template
* Navigate to Setup and Maintenance > Manage Expense Report Templates.
* Search for the Expense Report Template where the Meals category should be included.
* Click Edit and go to the Expense Types section.
* Add the Meals Expense Type and associate it with the newly created Meals Expense Warning Policy.
* Click Save and Close.
Step 5: Enable and Validate the Policy
* Ensure the policy is marked as Active.
* Click Submit to finalize the policy configuration.
* Run the Validate and Deploy Expense Policies process.
Step 6: Testing the Policy
* Simulate an Expense Report Submission:
* Create a new expense report and select Meals as the expense type.
* Enter an expense amount exceeding the limit (e.g., 55 USD).
* Verify that a warning message appears, but the expense is still allowed to proceed.
* Submit an expense below the limit (e.g., 45 USD) and ensure no warning appears.
Expected Outcome:
* If the meal expense exceeds the limit, the system raises a warning but does not block the expense submission.
* If the meal expense is within the limit, the system processes it without warnings.
* The policy is successfully associated with an expense type in an expense report template.
Conclusion
By following these steps, you successfully configure an expense policy that raises a warning for meals exceeding a specified limit without blocking submission or processing. This ensures that employees are notified about policy violations while allowing flexibility in expense approvals.

NEW QUESTION # 15
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