Trusted Worldwide Questions & Answers
Most Recent Oracle 1Z0-1056-23 Exam Dumps
Prepare for the Oracle Financials Cloud: Receivables 2023 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 1Z0-1056-23 exam and achieve success.
The questions for 1Z0-1056-23 were last updated on Sep 1, 2026.
- Viewing page 1 out of 6 pages.
- Viewing questions 1-5 out of 32 questions
Manage Receipt Classes and Methods
Scenario
Supremo 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
Log in to Oracle Financials Cloud.
Click on theReceipt Methodsicon in theReceivableswork area.
Click on theCreatebutton.
In theReceipt Methodwindow, 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 theSavebutton.
The new receipt method will be created.
Manage Collectors
Scenario:
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.)
Log in to Oracle Financials Cloud.
Click on theCollectorsicon in theReceivableswork area.
Click on theCreatebutton.
In theCollectorwindow, 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 theSavebutton.
The new collector will be created.
Manage Receipt Classes and Methods
Scenario
Supremo 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:
Define Remittance Bank Account where:
Bank Account is associated with Receipt Method
Primary bank account is linked the Denver branch of Bank of America
Bank account number ends with 2870
Remittance bank account is effective as of January 1, 2023
GL Accounts section must contain the values below for company segment 120 Supremo Fitness
Log in to Oracle Financials Cloud.
Click on theRemittance Bank Accountsicon in theReceivableswork area.
Click on theCreatebutton.
In theRemittance Bank Accountwindow, enter the following information:
Name:XXRemittance Bank Account (Replace XX with your allocated user ID.)
Bank Account Number:The bank account number that you want to associate with the receipt method.
Bank Name:Bank of America
Branch Name:Denver
Account Type:Checking
Effective Date:January 1, 2023
Primary:Yes
GL Accounts:
Company Segment:120 Supremo Fitness
Account Code:12000
Account Name:Accounts Receivable - Supremo Fitness
Company Segment:120 Supremo Fitness
Account Code:12001
Account Name:Allowance for Doubtful Accounts - Supremo Fitness
Click on theSavebutton.
The new remittance bank account will be created.
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?
Nonrevenue 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 Reference: [How You Manage Sales Credits - Oracle]
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?
This 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 Reference: [How You Define Strategy Tasks by Transaction Type - Oracle]
Unlock All Questions for Oracle 1Z0-1056-23 Exam
Full Exam Access, Actual Exam Questions, Validated Answers, Anytime Anywhere, No Download Limits, No Practice Limits
Get All 32 Questions & Answers