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Most Recent Oracle 1Z0-1055-24 Exam Dumps
Prepare for the Oracle Financials Cloud: Payables 2024 Implementation Professional exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.
QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the Oracle 1Z0-1055-24 exam and achieve success.
The questions for 1Z0-1055-24 were last updated on Apr 20, 2026.
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Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation Report?
Comprehensive and Detailed In-Depth
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.
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$?
As a Workflow Administrator, you are tasked with configuring certain invoice approval rules to align with your company's policy. You decide to make use of the purchase order additional attributes and descriptive flexfields to appropriately configure invoice approval rules and route workflow notifications to approvers.
Which two are NOT purchase order additional attributes that workflow administrators can use to configure invoice approval workflow rules?
You participated as a functional consultant in the implementation of Oracle Procurement as well as Payables for customer ABC Consulting. A Payables Analyst has logged a ticket stating that the "Create Supplier" task is not showing up in the Supplier work are
a. You checked the related settings and found that the Payables Analyst user account has been defined as a Procurement Agent.
Why was the Payables Analyst NOT able to see the "Create Supplier" task in the Supplier work area?
Comprehensive and Detailed In-Depth
In Oracle Fusion Applications, access to specific tasks and functionalities is governed by the roles assigned to a user. The 'Create Supplier' task within the Supplier work area is a critical function that allows authorized users to add new suppliers to the system. To access this task, a user must possess the appropriate roles that grant the necessary permissions.
A . The analyst was not given the Procurement Administrator role.
The Procurement Administrator role encompasses a broad range of procurement-related activities, including configuration and oversight functions. However, the ability to create suppliers is not inherently included within this role's permissions. Therefore, assigning the Procurement Administrator role alone would not grant access to the 'Create Supplier' task.
B . The analyst was not given the Supplier Manager role.
The Supplier Manager role is specifically designed to manage supplier-related activities, including the creation and maintenance of supplier records. Assigning this role to a user provides them with the necessary permissions to access the 'Create Supplier' task within the Supplier work area. In the scenario described, the absence of the Supplier Manager role is the reason the Payables Analyst cannot see the 'Create Supplier' task. This is corroborated by Oracle's documentation, which states that users require the Supplier Manager role to create suppliers.
C . The analyst was not given the Supplier Administrator role.
While the Supplier Administrator role grants access to certain supplier-related functions, it does not include the permissions necessary to create new suppliers. Users with only the Supplier Administrator role may have visibility into supplier information but lack the capability to add new supplier records. Therefore, the absence of this role is not the cause of the issue.
D . The analyst was not given the Procurement Requester role.
The Procurement Requester role is intended for users who initiate purchase requisitions and related procurement activities. This role does not encompass supplier creation capabilities. Assigning the Procurement Requester role would not grant access to the 'Create Supplier' task, and its absence is not related to the issue at hand.
In summary, to enable the Payables Analyst to access the 'Create Supplier' task, the Supplier Manager role must be assigned to their user account. This role provides the necessary permissions to create and manage supplier records within the Oracle Fusion Applications.
A Payables user creates a manual invoice, and a Withholding Tax Classification Code defaults on the invoice line when the invoice is saved. Where does this Withholding Tax Classification Code default from?
A. From the Site Assignments of the Supplier Site B. From the Party Tax Profile of the Third Party Site C. From the Ship-to Location selected on the invoice
Comprehensive and Detailed In-Depth In Oracle Financials Cloud, when a Payables user creates a manual invoice, the Withholding Tax Classification Code can default onto the invoice line from various sources depending on the system configurations. The correct source for defaulting this code is from the Site Assignments of the Supplier Site.
Explanation of Each Option:
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