Refresh Oracle Financials Cloud: Payables 2021 Implementation Essentials 1z0-1005 Actual Exam

NEW QUESTION 1
Which dashboard or workarea displays the Scanned Invoices region for invoices processed through the Payables Integrated Imaging solution?

• A. Invoices Workarea only
• B. Payables Dashboard and Invoices Workarea
• C. Payables Dashboard only
• D. Manage Invoices page
• E. C-Level executives

Answer: A

Explanation:
Reference: https://docs.oracle.com/cd/E51367_01/financialsop_gs/FAIPP/F1469798AN1007C.htm

NEW QUESTION 2
Which two statements are true when you are using the Intercompany Reconciliation Process?

• A. Transaction Summary Report will show only transactions with status received.
• B. The reconciliation period summary report will show the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
• C. Ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.
• D. You must run the Extract Intercompany Reconciliation Data job.
• E. The reconciliation period summary report will not show the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction.

Answer: BD

NEW QUESTION 3
You entered an invoice of 12,000 and paid it for Office Supplies. The payment was never received by the supplier, and you decide to return the entire order. What should you do?

• A. Void the payment, which debits cash and credits the liability, and then issue a credit memo, which debits the liability and credits the expense.
• B. Issue a credit memo, which will debit the liability and credit the expense.
• C. Cancel the invoice, which debits the liability and credits the expense.
• D. Void the payment, which debits cash and credits the liability, and then cancel the invoice, which debits the liability and credits the expense.

Answer: D

NEW QUESTION 4
Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run?

• A. Run the process Transfer Intercompany transactions to Receivables and Transfer Intercompany transaction to Payables.
• B. For the Legal Jurisdiction, Legal function “Generate intercompany invoice” should be assigned.
• C. Supplier site primary pay flag and customer account bill to primary flag should be enabled.
• D. Manual Approvals should be allowed for the transaction type.
• E. Schedule create accounting for the intercompany process.
• F. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.

Answer: A

Explanation:
Reference: https://docs.oracle.com/cloud/latest/financialscs_gs/FAUGL/FAUGL1476872.htm

NEW QUESTION 5
Your customer has implemented English as base language and French as a local language. The customer's bank needs the payment file to be sent to them in French. What is the relevant step to do this for preparing the payment template?

• A. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder, under the templates regio
• B. Use English locale and generate the XLIFF fil
• C. Then upload the file back under the translated region.
• D. Create your template in the local language, then upload it to Business Intelligence (BI) under the custom/payment folder, under the templates regio
• E. Use English locale and generate the XLIFF fil
• F. Then upload the file back under the translated region.
• G. Create your template in English language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with country locale.
• H. Create your template in local language, then upload it to Business Intelligence (BI) under the custom/payment folder under the templates region with country locale.

Answer: A

Explanation:
Reference: https://docs.oracle.com/cd/E21764_01/bi.1111/e13881/T527073T559221.htm

NEW QUESTION 6
You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?

• A. Run the create accounting program.
• B. Run the invoice validation program.
• C. Remove the documents or payments causing the error and resume the payment process.
• D. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.
• E. Terminate the payment process reques

Answer: DE

Explanation:
Reference: https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm

NEW QUESTION 7
What are the output formats supported for Electronic and Check format programs?

• A. Electronic output format of etext, Check output format of rtf
• B. Electronic output format of Text, Check output format of Text
• C. Electronic output format of DATA (csv), Check output format of Zipped PDFs
• D. Electronic output format of PDF, Check output format of PDF
• E. Electronic output format of XML, Check output format of rtf

Answer: E

NEW QUESTION 8
Which two setups are required to ensure the same tax is applied on both intercompany payable and receivable invoice?

• A. Payable options are receivable system options should have same tax application options.
• B. Tax for inter-company is to be loaded using Create Taxable Transactions in Spreadsheet.
• C. First enter Payable transaction to calculate tax and then for Receivable Transaction.
• D. You should check if any specific rules defined should cover both Sales_transaction and purchase_transaction business category.
• E. Ensure that both the receiver and provider business units and legal entities are subscribed to the applicable tax regime on the transaction date.

Answer: CE

NEW QUESTION 9
In what order should the import process be run when importing suppliers?

• A. any order
• B. Supplier, Supplier Site, Supplier Site Contacts, Supplier Site Assignments
• C. Supplier, Supplier Site Contacts, Supplier Site, Supplier Site Assignment
• D. Supplier, Supplier Site Assignment, Supplier Site, Supplier Contacts

Answer: B

Explanation:
Reference: https://docs.oracle.com/cloud/latest/procurementcs_gs/OAPRC/OAPRC1007476.htm

NEW QUESTION 10
You have two business units: Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?

• A. Assign the Expense Auditor job role to each auditor and use segment value security rules to secure access to the business units.
• B. Assign the Expense Auditor job role to each auditor and associate the business unit to the role by using the Manage Data Access for Users page.
• C. Assign the Expense Auditor job role to each auditor and use a data access set to associate the business unit to the role.
• D. Assign the Expense Auditor as the owner of each business unit on the Manage Business Unit Set Assignments page.

Answer: B

NEW QUESTION 11
Which statement is true about selecting a bank account on the Create Payment page?

• A. Bank account must match the supplier’s bank account.
• B. There is not relationship between the business unit, bank, and L
• C. Users can pick any bank account that is setup in their system.
• D. LE on the bank account should be different from the LE on the invoice.
• E. LE on the bank account should be equal to LE on the invoice.
• F. Users can pick any bank account as long as the bank account is tied to the business uni

Answer: D

NEW QUESTION 12
What are the two advantages of using a spreadsheet for correcting invoice import errors?

• A. identification of errors with clear error messages at the invoice header and line levels
• B. identification of errors with clear error messages at the invoice header level only
• C. ability to correct errors and re-import invoices directly from a spreadsheet
• D. ability to correct errors within the spreadsheet and send invoice corrections for approval
• E. ability to enter a high volume of invoices via a spreadsheet

Answer: AC

NEW QUESTION 13
What is the difference between subject areas that append the word “Real Time” and those that do not?

• A. The “Real Time” subject areas are based on subledger transactions and the ones that are not are based on general ledger balances.
• B. The “Real Time” subject areas are based on real-time transactions in the applications, and those that are not, are based on data stored in the Oracle Business Intelligence Applications data warehouse.
• C. The “Real Time” subject areas are based on real-time transactions and those that are not, are based on historical data.
• D. There is no differenc

Answer: B

NEW QUESTION 14
You created a payment and before it is cashed by the supplier you mistakenly submitted a request to stop payment. Later you canceled the request to stop payment. What is the resulting payment status?

• A. Canceled
• B. Stop initiated
• C. Negotiable
• D. Available
• E. Voided
• F. Cleared

Answer: F

NEW QUESTION 15
Before you can configure payment approval rules, your company must define a payment approval policy. Which three are done by the payment approval policy?

• A. It allows approvers to review payments and decide whether or not to approve a payment.
• B. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.
• C. It defines when to initiate the payment approval process.
• D. It determines which payments must go through the payment approval process.
• E. It defines a list of approvers who review payments and make final payment decision

Answer: BCE

NEW QUESTION 16
A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?

• A. Manage Payable Options and Manage Invoice Options
• B. Manage Payable Options and Manage common options for Payables and Procurement
• C. Manage Invoice Options and Manage common options for Payables and Procurement
• D. Manage common options for Payables and Procurement and Manage Procurement agents
• E. Manage Invoice Options and Manage Procurement agents

Answer: B

NEW QUESTION 17
Which three types of payments can you make if you have access to Disbursement Process Management Duty?

• A. Supplier payments
• B. Ad hoc payments
• C. Employee advances
• D. Customer refunds
• E. Reimbursement of employee expense reports

Answer: ADE

Explanation:
Reference: https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49599/F1110430AN6D6BD.htm

NEW QUESTION 18
What happens if a company runs the Payables Unaccounted Transactions Sweep program for February 2021 if the invoices with a Hold status have an invoice date of January 20, 2021?

• A. The accounting dates of all unaccounted invoices will change to February 28, 2021, the last day of the next period.
• B. The accounting dates of all unaccounted invoices will remain unchanged at January 20, 2021.
• C. The accounting dates of all unaccounted invoices will be changed to February 1, 2021, the first day of the next period.
• D. The accounting dates of all unaccounted invoices will be changed to February 20, 2021, the same day of the next period.

Answer: C

NEW QUESTION 19
Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation.

• A. Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access.
• B. Business units must be granted access to the bank account.
• C. Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-to-bank reconciliation.
• D. Allow bank accounts to be accessed by all roles and users because the default valued to secure a bank account by users and roles is No.
• E. Do not assign bank accounts to business unit

Answer: AB

Explanation:
Reference: http://docs.oracle.com/cd/E28271_01/fusionapps.1111/e20375/F569961AN5B6A3.htm

NEW QUESTION 20
Which attributes on the payables invoice can be used during approval rule creation?

• A. company and cost center segment only
• B. cost center segment and supplier only
• C. supplier only
• D. company segment, cost center segment, supplier, and Attribute 1 on the invoice line

Answer: C

NEW QUESTION 21
The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct?

• A. Voiding the payment automatically places an invoice on hold.
• B. Any previous accounting and payment records for an invoice are reversed.
• C. Any realized gain or loss previously calculated is reversed.
• D. All related withholding tax invoices are automatically voided.
• E. All related interest invoices are reversed if previously create

Answer: BCE

NEW QUESTION 22
An installment for $2,000 USD is due for payment on July 31, 2021. The installment has two discounts: the first discount date is June 15, 2021 for $150 USD and the second discount date is June 30, 2021 for $50 USD.
You submit a Payment Process Request with the following criteria:
- Payment Date = June 20, 2021
- Pay Through Date = July 30, 2021
- Date Basis = Due Date
What will be the resulting status of the installment and discount?

• A. The installment is selected and a discount of $150 USD is applied.
• B. The installment is selected and a discount of $50 USD is applied.
• C. The installment is not selected because the due date is after the Pay Through Date.
• D. The installment is selected and no discount is applied.
• E. The installment is not selected because the discount dates are before the Pay Through Dat

Answer: D

NEW QUESTION 23
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