Oracle 1Z0-1055-25 Exam Dumps

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In Oracle Payables, voiding a payment involves specific actions that affect the associated invoices. When a payment is voided, users have the option to select an Invoice Action, such as Cancel, Hold, or None. The chosen action determines the subsequent status of the invoice linked to the voided payment.

A . The invoice date is not in the current open period.

If an invoice's date falls outside the current open accounting period, certain actions may be restricted. However, this condition does not specifically result in an Invoice Cancel hold being applied when attempting to void a payment. Therefore, this is not the reason for the observed behavior.

B . The invoice is already on hold.

An invoice that is already on hold may have restrictions on further processing. However, the presence of an existing hold does not directly lead to the application of an Invoice Cancel hold during the voiding process. Thus, this is not the cause of the issue.

C . The invoice has been partially paid by another payment.

When an invoice has been partially paid by multiple payments, voiding one of the payments and selecting Cancel as the Invoice Action does not cancel the invoice. Instead, Oracle Payables applies an 'Invoice Cancel' hold to the invoice. This hold indicates that the invoice cannot be fully canceled because it has been partially satisfied by another payment. To resolve this, the remaining payments must be addressed appropriately before the invoice can be canceled. This behavior is documented in Oracle's guidelines, which state that attempting to cancel an invoice partially paid by another payment results in an Invoice Cancel hold being applied.

docs.oracle.com

Understanding the conditions under which Invoice Actions apply is crucial for effective invoice and payment management in Oracle Payables. Recognizing that partially paid invoices cannot be canceled outright helps prevent processing errors and ensures accurate financial records.

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In Oracle Financials Cloud, the Payment Process Request (PPR) undergoes several stages, each with specific functions and potential user interventions. When Payment Approval is enabled, the system incorporates an approval workflow to ensure that payments are reviewed and authorized before disbursement.

Stages of Payment Process Request:

Installment Selection:

Description: The system selects invoice installments based on predefined criteria such as due dates, payment methods, and supplier information.

User Action: Optional review if the 'Review Installments' option is selected.

Document Validation:

Description: Validates the selected installments for completeness and correctness, ensuring all necessary information is present.

User Action: Required if there are validation errors or missing information.

Build Payments:

Description: Groups validated installments into payments based on attributes like payment date, disbursement bank account, and payment method.

User Action: None, this is an automated process.

Review Proposed Payments:

Description: Allows users to review and, if necessary, modify the proposed payments before finalizing them.

User Action: Required if the 'Review Proposed Payments' option is selected.

Payment Approval:

Description: If enabled, this stage involves routing the proposed payments to designated approvers for authorization before disbursement.

User Action: Approvers must review and approve or reject the payments.

Create Payment Files:

Description: Generates the necessary payment files for disbursement, such as electronic funds transfer (EFT) files or check print files.

User Action: None, unless issues arise during file creation.

Trigger Point for Payment Approval:

The Payment Approval process is automatically triggered at the Review Proposed Payments stage. At this point, the system pauses to allow approvers to review the proposed payments and make decisions regarding their authorization. This control mechanism ensures that all payments are vetted before funds are disbursed, aligning with organizational policies and financial controls.

According to Oracle's documentation:

'If enabled, the payment process stops at the Review Proposed Payments stage. Approvers can then optionally remove payments directly from a payment process request and approve it.'

docs.oracle.com

Analysis of Options:

A . Review Proposed Payments: Correct. This is the stage where the payment approval process is triggered, allowing approvers to review and authorize payments.

B . Create Payment Files: Incorrect. This stage occurs after payment approval and involves generating the actual payment files for disbursement.

C . Review Installments: Incorrect. This is an earlier stage where selected installments are reviewed before payments are built, but it does not involve the payment approval workflow.

D . Build Payments: Incorrect. This stage involves grouping validated installments into payments and occurs before the Review Proposed Payments stage.

Conclusion:

Enabling Payment Approval in Oracle Financials Cloud introduces a critical control point at the Review Proposed Payments stage of the Payment Process Request. This setup ensures that all proposed payments undergo managerial review and authorization before the creation of payment files and the actual disbursement of funds. Implementing this approval process helps maintain robust financial oversight and compliance within the organization's payment workflows.

Oracle Financials Cloud Documentation -- How You Set Up Payment Approval https://docs.oracle.com/en/cloud/saas/financials/24d/faipp/how-you-set-up-payment-approval.html

Oracle Financials Cloud Documentation -- How You Set Up Payment Approval https://docs.oracle.com/en/cloud/saas/financials/24d/faipp/how-you-set-up-payment-approval.html

Topic 2, Challenges (Hands-on Performance Based)

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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.

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.

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The profile option CE_USE_EXISTING_BANK_BRANCH in Oracle Financials Cloud controls whether users can select from pre-existing banks and branches or enter new bank information manually when setting up employee bank accounts.

When set to Yes:

Behavior: Users are provided with a list of predefined banks and branches to select from. This ensures consistency in bank data and reduces errors associated with manual entry.

Default Search Capability: Users can search and select both Bank and Bank Branch from the existing list.

When set to No:

Behavior: The system allows users to manually enter bank and branch details as free text, without relying on predefined lists.

Default Search Capability: Since there are no predefined lists, users do not have search options and must input all bank information manually.

Therefore, with the profile option CE_USE_EXISTING_BANK_BRANCH set to Yes, users can search for and select both the Bank and Bank Branch from the predefined options, ensuring accurate and standardized bank account setups.