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1Z0-1055-24 New Real Test 100% Pass | Valid Exam Oracle Financials Cloud: Payables 2024 Implementation Professional Registration Pass for sure

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Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions (Q18-Q23):

NEW QUESTION # 18
MANAGE POLICIES BY EXPENSE CATEGORY
The US1 Business Unit has an expense policy on meals that allows an employee to claim 30 USD per day for an evening meal, regardless of their role and location.

Answer:

Explanation:
See the Explanation for Step-by-Step Solution.
Explanation:
Step-by-Step Solution: Configuring Expense Policies by Expense Category in Oracle Financials Cloud To implement the expense policy for meals in Oracle Financials Cloud, follow these steps:
Step 1: Navigate to the Expense Policies Setup
* Log in to Oracle Financials Cloud with the appropriate Expense Manager or Financial Administrator role.
* Go to the Setup and Maintenance work area.
* Select Manage Policies by Expense Category (Task Name: Manage Expense Policies by Expense Category).
* Select the US1 Business Unit to ensure the policy applies to the correct entity.
Step 2: Create or Update the Meal Expense Category
* Under Manage Policies by Expense Category, locate or create the Meals Expense Category.
* If the Meals category does not exist:
* Click Create Expense Category.
* Enter Category Name: "Meals".
* Category Type: "Meals and Entertainment".
* Save the entry.
Step 3: Define Expense Limits for Evening Meals
* Select the Meals Expense Category and click Edit.
* Navigate to the Policies and Limits tab.
* Under Amount Limits, click Add New Rule.
* Description: "Evening Meal Limit".
* Limit Type: "Maximum Allowed Amount".
* Limit Amount: Enter 30 USD.
* Per: Select Day.
* Apply to All Employees (since this applies regardless of role and location).
* Location-Based Rules: Leave blank since it applies universally.
* Click Save and Close.
Step 4: Enable and Activate the Policy
* Ensure the policy is enabled by selecting the checkbox for Active.
* Click Submit to finalize the configuration.
* Run the "Validate and Deploy Expense Policies" process to apply changes.
Step 5: Testing the Policy
* Simulate an Expense Report Submission:
* Have an employee create a new expense report.
* Select Meals as the expense category.
* Enter an evening meal expense of 35 USD (which exceeds the policy limit).
* Verify if a policy violation warning appears, restricting the claim to 30 USD.
* Submit an expense of 30 USD and ensure no policy violation occurs.
Expected Outcome:
* Employees can claim up to 30 USD per day for an evening meal.
* Any claim above 30 USD triggers a policy violation warning.
* The rule applies to all employees regardless of role and location.
Conclusion
By following the above steps, you successfully configure an expense policy for meals that limits evening meal claims to 30 USD per day. This ensures compliance with the company's expense management guidelines while streamlining the expense approval process in Oracle Financials Cloud.


NEW QUESTION # 19
A company has assigned a withholding tax classification to an invoice line to withhold two taxes, each tax withheld at different rates and remitted to different tax authorities.
Tax A has a withholding tax rate of 5% with compounding precedence of 1 Tax B has a withholding tax rate of 10% with compounding precedence of 2 What are the withholding tax amounts computed for the two taxes when the withholding taxable amount is
100$?

  • A. Tax A:4.5%, Tax B:$10
  • B. Tax A:5%, Tax B:$9.5
  • C. Tax A:5%, Tax B:$10.5
  • D. Tax A:5%, Tax B:$10

Answer: B


NEW QUESTION # 20
Which two invoice types can have a status of Incomplete?

  • A. Supplier Portal Invoices which are saved but not yet submitted
  • B. Prepayment Invoices which are fully paid but not applied against any invoice
  • C. Scanned Invoices which are rejected during import
  • D. Scanned Invoices with invalid or missing data

Answer: A,D

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In Oracle Financials Cloud, the "Incomplete" status is assigned to invoices that require additional information or actions before they can be fully processed. This status ensures that incomplete or erroneous invoices are identified and addressed promptly.
A: Supplier Portal Invoices which are saved but not yet submitted
When suppliers create invoices through the Supplier Portal, they have the option to save their progress without submitting the invoice for approval or payment. These saved invoices are assigned an "Incomplete" status, indicating that the supplier has not yet finalized and submitted them. This allows suppliers to review and modify invoice details before formal submission.
support.oracle.com
B: Scanned Invoices with invalid or missing data
Invoices processed through Integrated Imaging or Intelligent Document Recognition (IDR) are scanned and imported into the system. If these scanned invoices contain invalid or missing data-such as incorrect invoice numbers, missing line items, or unreadable fields-they are assigned an "Incomplete" status. This designation prompts accounts payable personnel to review and correct the discrepancies before the invoices can proceed through the payment process.
docs.oracle.com
C: Scanned Invoices which are rejected during import
Invoices that are rejected during the import process due to significant errors or mismatches are typically not assigned an "Incomplete" status. Instead, they are marked as "Rejected" or "Error," indicating that they require substantial correction before reprocessing. Therefore, this option is not associated with the
"Incomplete" status.
D: Prepayment Invoices which are fully paid but not applied against any invoice Prepayment invoices represent advance payments made to suppliers and are recorded as such. Once a prepayment is made, the invoice reflects a "Paid" status. The application of this prepayment to subsequent invoices is a separate process and does not revert the original prepayment invoice to an "Incomplete" status.
Thus, this option does not correspond to the "Incomplete" status.
Understanding the scenarios that lead to an "Incomplete" status helps organizations efficiently manage and rectify invoice issues, ensuring a smooth accounts payable workflow.


NEW QUESTION # 21
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 Purchase Order is already partially matched to an invoice
  • B. The Supplier or Purchase Order is set up for self-billing
  • C. The match approval level is set to 3-way matching
  • D. The match approval level is set to 4-way matching

Answer: A,B

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 # 22
Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation Report?

  • A. Natural Account
  • B. Primary Ledger
  • C. Accounting Period
  • D. Business Unit
  • E. Balancing Segment Value
  • F. Supplier

Answer: C,D,E

Explanation:
Comprehensive and Detailed In-Depth Explanation:
The Prepare Payables to General Ledger Reconciliation process in Oracle Financials Cloud is essential for ensuring that your payables and general ledger data are aligned. When submitting this process, you have several parameters available to filter and select the specific data you need for reconciliation. The key parameters include:
Business Unit (Option A):
Purpose: Allows you to reconcile data for a specific business unit within your organization. This is particularly useful if your enterprise structure includes multiple business units and you need to focus on one at a time.
Reference:
Accounting Period (Option B):
Purpose: Enables you to select the accounting period (either open or closed) for which you want to prepare the reconciliation data. This ensures that the report focuses on the transactions relevant to the specified time frame.
Balancing Segment Value (Option C):
Purpose: Allows you to filter the data by specific balancing segment values, which correspond to entities like companies or divisions within your chart of accounts. This is useful for reconciling data at a more granular level.
While options D (Supplier), E (Primary Ledger), and F (Natural Account) are important attributes within the payables and general ledger modules, they are not listed as direct filter parameters for the Prepare Payables to General Ledger Reconciliation process. Therefore, the correct answers are A. Business Unit, B. Accounting Period, and C. Balancing Segment Value.


NEW QUESTION # 23
......

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