This page was exported from IT Certification Exam Braindumps [ http://blog.braindumpsit.com ] Export date:Fri Apr 4 21:18:40 2025 / +0000 GMT ___________________________________________________ Title: Latest Oracle 1z0-1056-23 Dumps for success in Actual Exam Jul-2024 [Q15-Q37] --------------------------------------------------- Latest Oracle 1z0-1056-23 Dumps for success in Actual Exam Jul-2024] Realistic 1z0-1056-23 100% Pass Guaranteed Download  Exam Q&A Q15. When entering the Customer import upload spreadsheet, which two columns, if populated with *NULL will remove the existing values on loading?  First Review Date  Credit Review Cycle  Order line Credit Limit  Credit Limit ExplanationThese are the two columns that, if populated with *NULL, will remove the existing values on loading. They are part of the customer profile class attributes that can be updated using customer import. Verified References: [How You Manage Customer Data Uploads – Oracle]Q16. You are asked to amend subledger accounting and reporting to include origin and history of Receivable transactions.Which three event attributes should be used?  Transaction number of amendments  Transaction type of update  Transaction creation date  Transaction created by  Transaction last update date ExplanationThese are the three event attributes that can be used to identify the origin and history of Receivable transactions. They capture the information about the changes made to the transactions, such as the transaction number, the type of update (create, update, delete), and the date of the last update. Verified References: [How You Define Event Attributes – Oracle]Q17. You are reviewing an invoice on the Review Transaction page. After clicking the Sales Credit subtab. you notice the following breakdown: Revenue Allocation and Nonrevenue Allocation.What is Nonrevenue Allocation?  Sales credit allocation based on billing corrections  Additional incentive-based sales credits  Sales credits associated to deferred revenue  Sales credit reversals due to credit memo creation ExplanationNonrevenue Allocation is the amount of sales credits that are associated to deferred revenue. It represents the portion of sales credits that are not yet recognized as revenue and are allocated to future periods. Verified References: [How You Manage Sales Credits – Oracle]Q18. As an implementer. while importing data from a legacy/third-parly system, you forgot to populate the accounting distribution in the RA_INTERFACE_DlSTRIBUTIONS_ALL table. What happens when you run accounting?  Invoice will get created but accounting will not be created.  It will return an error and the data will be stuck in the interface table.  Invoice will be created and the system will use the AutoAccounting configuration to create accounting.  Neither invoice nor accounting will be created. ExplanationThis is what happens when you run accounting without populating the accounting distribution in the RA_INTERFACE_DISTRIBUTIONS_ALL table. The system will use AutoAccounting to derive the accounting distribution based on your AutoAccounting rules. Verified References: [How You Import Transactions Using AutoInvoice – Oracle]Q19. The AutoAc counting rule for the Revenue account is defined as follows:When entering a manual invoice, the revenue account code combination is incomplete with the Department segment left blank. Which are the three reasons for this?  Revenue Reference Accounts for Salesperson were not defined for the Transaction Business Unit  Transaction Type was defined as Overapplication set to Yes but Post to GL set to No.  Salesperson is not required on the transaction and is left blank.  Revenue Reference Accounts were entered for all salespersons.  No Sales Credit salesperson has no reference accounts. ExplanationThese are the three reasons for the revenue account code combination being incomplete with the Department segment left blank. The salesperson is not required on the transaction and is left blank, so the system cannot derive the Department segment from the salesperson reference accounts. The revenue reference accounts were entered for all salespersons, so the system cannot use the default revenue account from the transaction type.The no sales credit salesperson has no reference accounts, so the system cannot use the default revenue account from the no sales credit salesperson. Verified References: [How You Define AutoAccounting – Oracle]Q20. Manage CollectorsScenario:You are responsible for defining a new collector. who will perform collection activities across multiple business units.Task:Create a new Collector. where:* Name of the collector is (Replace XX with 03. which is your allocated User ID.)* Collector must be available to all business units.* Collector maps to employee FASXX Student (Replace xx with 03, which is your allocated User ID.) See the explanation below for solution.Explanation* Log in to Oracle Financials Cloud.* Click on the Collectors icon in the Receivables work area.* Click on the Create button.* In the Collector window, enter the following information:* Name: XXCollector (Replace XX with your allocated user ID.)* Type: Employee* Employee: FASXX03 (Replace xx with your allocated user ID.)* Available to All Business Units: Yes* Click on the Save button.The new collector will be created.Q21. Manage Balance Forward Billing Cycles and Payment TermsScenarioYou are a consultant for a client who is implementing the Balance Forward Billing feature in Oracle Financials Cloud. You have been asked to define Balance Forward Billing Cycle as well as Balance Forward Billing Payment Terms so that your client can generate consolidated bills.Task:Create Balance Forward Billing Cycle, where:* Name of the cycle is XXCycle (Replace XX with 03. which is your allocated user ID.)* Bills are generated every day* Cycle is effective as Of January 1,2023 See the explanation below for solution.Explanation* Log in to Oracle Financials Cloud.* Click on the Balance Forward Billing icon in the Receivables work area.* Click on the Cycles tab.* Click on the Create button.* In the Balance Forward Billing Cycle window, enter the following information:* Name: XXCycle (Replace XX with your allocated user ID.)* Billing Frequency: Daily* Effective Date: January 1, 2023* Click on the Save button.The new balance forward billing cycle will be created.To create a Balance Forward Billing Payment Term:* Click on the Payment Terms tab.* Click on the Create button.* In the Balance Forward Billing Payment Term window, enter the following information:* Name: XXPaymentTerm (Replace XX with your allocated user ID.)* Billing Cycle: XXCycle (The cycle that you created in the previous step.)* Due Date: Next Business Day* Overdue Days: 30* Click on the Save button.The new balance forward billing payment term will be created.Q22. 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?  Cash Managers can create and manage bank accounts for only those legal entities to which they are given access.  Cash Managers can create and manage bank accounts for only those business units to which they are given access.  Cash Managers can only create but not manage bank accounts for those legal entities to which they are given access.  Cash Managers cannot create but only manage bank accounts for those legal entities to which they are given access. ExplanationThis is the true statement about the restrictions applied to the setup. Cash Managers can access bank accounts based on their legal entity access privileges. They can create and manage bank accounts for only those legal entities that they are authorized to access. Verified References: [How You Manage Bank Accounts – Oracle]Q23. Which three receipt types can be reversed in the Cloud?  Receipts applied to open receipts  Miscellaneous receipts  Credit card chargebacks posted to GL  Receipts that are archived  Invoice-related receipts ExplanationThese are the three receipt types that can be reversed in the Cloud. Receipts applied to open receipts and receipts that are archived cannot be reversed. Verified References: [How You Reverse Receipts – Oracle]Topic 1, Performance Based Questions“Member Insights”“Transaction Analysis”Confirm the Oracle Applications Cloud VersionNote: The Oracle Applications Cloud environment might take some time to launch.1. Click on the Settings and Actions menu under your profile in the Oracle Applications Cloud window.2. Click on About This Application in the Settings and Actions menu.3. Copy the complete version number from the About this Applicationpop-up in the Oracle Application Cloud window.4. Paste the version number in the box below.5. Click Confirm.Q24. Manage Aging MethodsScenarioYour organization needs to create their own a-bucket aging method for reporting purposes.TaskCreate a new 4-bucket Aging Method in the Collections application, where:* Name Of the aging method is XXAging Method (Replace XX with 03, which is your allocated User ID.)* Aging method is accessible to all business units* Aging buckets are 45 days apart* Last bucket is 91 days See the explanation below for solution.Explanation* Log in to Oracle Financials Cloud.* Click on the Aging Methods icon in the Receivables work area.* Click on the Create button.* In the Aging Method window, enter the following information:* Name: XXAging Method (Replace XX with your allocated user ID.)* Description: Custom aging method for reporting purposes.* Aging Buckets:* 1: 0 to 45 days* 2: 46 to 90 days* 3: 91 to 135 days* 4: 136 to 180 days* Last Bucket: 181 days* Available to All Business Units: Yes* Click on the Save button.The new aging method will be created.Q25. 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?  By recording short-term debt  By generating a bills receivables adjustment  By recording an entry to the Remitted Bills Receivable account  By creating an on-account credit memo ExplanationWhen you approve a remittance batch of type Factored with Recourse, Receivables creates a receipt and records an entry to the Remitted Bills Receivable account to establish risk. This entry reduces the balance of the Bills Receivable account and increases the balance of the Remitted Bills Receivable account. Verified References: [How You Remit Bills Receivable – Oracle]Q26. In Collections, strategies can be executed based on the wait times defined on a strategy task. When the feature is enabled, you can also assign wait times for strategies based on their transaction type. Which condition must be set for the transaction level when defining a new strategy task by transaction type?  Days Early  Time  DaysLate  Not Applicable ExplanationThis is the condition that must be set for the transaction level when defining a new strategy task by transaction type. DaysLate is the number of days that a transaction is past due. You can use this condition to execute strategies based on how overdue a transaction is. Verified References: [How You Define Strategy Tasks by Transaction Type – Oracle]Q27. it has been decided that when processing customer payments using lockbox one customer can pay for another customer’s transaction.Which two steps will help achieve this?  Select the Allow payment of unrelated transactions Receivables System Option.  Define a relationship between the two customer accounts.  Define a netting agreement between the two customer accounts.  Define a business purpose of invoice to each customer address.  Define and share a cash pool bank account between the customers. ExplanationThese are the two steps that will help achieve this requirement. The Allow payment of unrelated transactions Receivables System Option enables one customer to pay for another customer’s transaction using lockbox.The relationship between the two customer accounts defines how payments are applied across different customers. Verified References: [How You Process Lockbox Receipts – Oracle]Q28. Manage Receipt Classes and MethodsScenarioSupremo US Business unit needs to capture customer payments that will be reconciled in the Cash Management application. You need to define a receipt class and receipt method, and assign the appropriate bank account to meet this requirement.Task:Create Receipt Method. where:* Name of the new receipt method is XXCheck (Replace XX with 03. which is your allocated User ID.)* Receipt method must be effective as of January 1. 2023 See the explanation below for solution.Explanation* Log in to Oracle Financials Cloud.* Click on the Receipt Methods icon in the Receivables work area.* Click on the Create button.* In the Receipt Method window, enter the following information:* Name: XXCheck (Replace XX with your allocated user ID.)* Effective Date: January 1, 2023* Receipt Class: XXReceipt Class (The receipt class that you created in the previous step.)* Bank Account: The bank account that will be used to clear receipts for this receipt method.* Click on the Save button.The new receipt method will be created. Loading … Oracle 1z0-1056-23 Exam Syllabus Topics: TopicDetailsTopic 1Configure Revenue for Receivables Managing Customer Billing Manage AutoInvoice CorrectionsTopic 2Create and Process Bills Receivables Remittances Report with Oracle Transactional Business Intelligence (OTBI)Topic 3Configure and Use Oracle Bill Management Manage Account Receivables ReconciliationTopic 4Manage Automatic Receipts and Funds Capture Configure Integration with Other ApplicationsTopic 5Manage Resources, Salesperson, Sales credits, and Salesperson account references Configure Sub Ledger AccountingTopic 6Create and Process Receipt Exceptions Configuring and Using Advanced Collections   Accurate 1z0-1056-23 Answers 365 Days Free Updates: https://www.braindumpsit.com/1z0-1056-23_real-exam.html --------------------------------------------------- Images: https://blog.braindumpsit.com/wp-content/plugins/watu/loading.gif https://blog.braindumpsit.com/wp-content/plugins/watu/loading.gif --------------------------------------------------- --------------------------------------------------- Post date: 2024-07-15 10:58:18 Post date GMT: 2024-07-15 10:58:18 Post modified date: 2024-07-15 10:58:18 Post modified date GMT: 2024-07-15 10:58:18