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NEW QUESTION # 60
To determine the best approach to converting a client's data, you must know which setups are Reference: Data Set enabled and can be shared.
Which three are Reference: Data Set enabled setups in Receivables? (Choose three.)
- A. Revenue Transactions
- B. Revenue Contingencies
- C. Customer Account Sites
- D. Standard Memo Lines
- E. Receivables Activities
Answer: A,B,D
NEW QUESTION # 61
What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)
- A. Correct Funds Transfer Errors
- B. Manage Receipt Remittance Batches
- C. Lockbox Transmission History
- D. Create Automatic Receipts
- E. Create Receipt Remittance Batch
Answer: B,D,E
NEW QUESTION # 62
As an implementer, while importing data from the 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 be created and the system will use auto accounting configuration to create accounting.
- B. Neither invoice nor accounting will be created.
- C. It will return an error and the data will be stuck in the interface table.
- D. Invoice will get created but accounting won't be created.
Answer: A
NEW QUESTION # 63
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 creating an on-account credit memo
- B. by recording short-term debt
- C. by generating a bills receivables adjustment
- D. by recording an entry to the Remitted Bills Receivable account
Answer: C
NEW QUESTION # 64
Which two items are required for customer invoicing? (Choose two.)
- A. Customer Profile Class
- B. Remit-to-address
- C. Customers
- D. Lockbox
Answer: A,D
NEW QUESTION # 65
Which two setups are required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices? (Choose two.)
- A. Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.
- B. Tax for intercompany is loaded by using Create Taxable Transactions in Spreadsheet.
- C. The payable options and the receivable system options should have the same tax application options.
- D. Ensure if any tax-specific rules that are defined should cover both the sales_transaction and purchase_transaction business category.
- E. Intercompany system options enable use of the same tax rate code for the payable and receivable invoices.
- F. First enter a payable transaction to calculate tax and then enter the receivable transaction.
Answer: A,C
NEW QUESTION # 66
The method that is used to capture receipts data in mass while you are offline and upload the receipts at a later date is called ______________.
- A. Lockbox receipts creation
- B. receipts creation in a spreadsheet
- C. manual receipt entry
- D. automatic receipts creation
Answer: B
NEW QUESTION # 67
Which two determinant types are used in reference data assignment? (Choose two.)
- A. Project unit
- B. Business Unit
- C. Project Segment
- D. Account Segment
Answer: A,B
NEW QUESTION # 68
Which minimum Customer setup is required to create a receivables transaction?
- A. one customer account with two sites: one with a bill-to business purpose and the other with a ship-to business purpose
- B. one customer account and one customer site with a bill-to site business purpose
- C. one customer account without any customer site
- D. one customer account and one customer site with a ship-to site business purpose
Answer: B
NEW QUESTION # 69
Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)
- A. Payment Settlement Management Duty
- B. Trading Community Hierarchy Management Duty
- C. Receipt Creation Duty
- D. Import Payables Invoices Duty
Answer: A,D
NEW QUESTION # 70
One of the customers pays its bills electronically from their bank account (Direct debit).
Which process do you need to run in Receivables to initiate the transfer of funds from their bank account to your organization's bank account?
- A. Lockbox Process
- B. Remittance Process
- C. Clear Receipts Automatically Process
- D. Automatic Receipt Process
Answer: B
NEW QUESTION # 71
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. 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.
- 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. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
- E. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
Answer: C,D
NEW QUESTION # 72
Each time that you run AutoInvoice, the process generates a list of records that fail validation.
Which two ways allow you to display AutoInvoice errors in an Excel workbook? (Choose two.)
- A. using the Manage Transactions task
- B. using the Import Exceptions Infotile
- C. using the Manage AutoInvoice Lines task
- D. using the Incomplete Infotile
Answer: A,C
NEW QUESTION # 73
The auto-invoice program fails to complete. Subsequently, you notice a message in the log file regarding insufficient memory for processing.
To resolve this issue, by what factor should you multiply the maximum number of imported records (rounded to the nearest whole number)?
- A. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: A
NEW QUESTION # 74
Your customer upload batch completes with an error and you identify the error as being due to incorrect payment method.
Which action should you take the resolve the Issue?
- A. Use the Customer Payment Method Exceptions spreadsheet.
- B. Troubleshoot In the Manage Customers page.
- C. Correct error and resubmit the batch.
- D. Use the Customer Data Exceptions spreadsheet.
Answer: A
NEW QUESTION # 75
You are creating a remittance bank account for the factored with recourse bills receivable remittance receipt method.
Which bank account setup controls receipt application to short-term debt?
- A. lead days
- B. recall days
- C. short-term debt clearing days
- D. clearing days
- E. collection days
- F. risk elimination days
Answer: C
NEW QUESTION # 76
A Cloud customer has decided to use Custom data points loaded by using REST API for Credit Management setup.
After creating Custom data point definitions, which three data point values need to be provided to successfully create a new value? (Choose three.)
- A. Data Point Lookup
- B. Currency code
- C. Account Number or Party Number
- D. Data Point ID
- E. Data Point Description
Answer: B,C,D
NEW QUESTION # 77
What is the initial status of a newly created bill receivable?
- A. Pending remittance
- B. New
- C. Awaiting submission
- D. Awaiting approval
- E. Pending posting
Answer: A
NEW QUESTION # 78
You have been asked to assign a reference data set to a specific Business Unit for several Receivable setups.
What are the navigational steps needed to accomplish this task?
- A. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Organization Structures"/Task: "Manage Business Unit Set Assignment"
- B. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Financial Reporting Structures"/Task: "Manage Business Unit Set Assignment"
- C. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Receivables"/Task: "Manage Business Unit Set Assignment"
- D. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Legal Structures"/Task: "Manage Business Unit Set Assignment"
Answer: C
NEW QUESTION # 79
Which three benefits do intercompany reconciliation reports provide to an accountant?
- A. Displaying intercompany receivables and payables balancing lines.
- B. Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.
- C. Displaying clearing company balancing lines.
- D. Comparing receivables and payables account balances and identifying discrepancies.
Answer: A,B,D
NEW QUESTION # 80
A Cloud customer requires enhanced message content in transactions delivered using email.
Which three are supported in the body of the message? (Choose three.)
- A. Increase the character limit to greater than 4000.
- B. Insert logos.
- C. Prevent use of Dynamic Tokens.
- D. Insert hyperlinks.
- E. Modify the fonts and font size.
Answer: B,D,E
NEW QUESTION # 81
Your Customer Upload Batch with an error and you identify the error as being due to an incorrect Payment Method.
How will you correct the error?
- A. by importing the correct data by using a new spreadsheet upload
- B. by using the correct Customer Data spreadsheet
- C. by using the Customer Import Interface work area
- D. by using the correct Customer Payment Method spreadsheet
Answer: D
NEW QUESTION # 82
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Oracle 1z0-1056-22 exam is designed for professionals who want to demonstrate their expertise in implementing and managing the Oracle Financials Cloud Receivables application. Oracle Financials Cloud: Receivables 2022 Implementation Professional certification exam is ideal for professionals who have experience in implementing financial solutions and are looking to validate their skills and knowledge in Oracle Receivables 2022. 1z0-1056-22 exam covers topics such as creating customer accounts, managing credit and collections, processing receipts, and managing disputes.
Oracle 1z0-1056-22 exam is a proctored exam that consists of 70 multiple-choice questions. Candidates are given two hours to complete the exam. To pass the exam, candidates must score at least 68% or higher. Candidates who pass the exam receive the Oracle Financials Cloud: Receivables 2022 Implementation Professional certification.
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