Format: Multiple Choice
Duration: 90 Minutes
Number of Questions: 55
Passing Score: 60%
Validation: This exam has been validated against 22A/22B
Policy: Cloud Recertification
Earn associated certifications
Passing this exam is required to earn these certifications. Select each certification title below to view full requirements.
Oracle Financials Cloud: Payables 2022 Certified Implementation Professional
Prepare to pass exam: 1Z0-1055-22
An Oracle Fusion Cloud Financials: Payables 2022 Certified Implementation Professional has demonstrated the knowledge and skills required to implement Oracle Cloud Financials Individuals who earn this certification are able to Configure Payables, Payments and Tax, Payables Invoicing and Expenses; Create and Process Invoices and Payments, Enter and Process Expenses, Understand Reporting options, and Period Close.
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Additional Preparation and Information
A combination of Oracle training and hands-on experience (attained via labs and/or field experience), in the learning subscription, provides the best preparation for passing the exam.
Review exam topics
Payables Invoices
Explain the Integrated Imaging Solution
Create an Account for invoices
Manage Suppliers
Payments
Create and Process Payments
Explain Bank Reconciliations
Expenses
Enter Expense Reports
Manage Expense Approval
Process expense reimbursements
Manage Corporate Cards
Audit Expense Reports
Set up Expenses
Configure Payables and Payments
Manage Withholding and Transaction Taxes
Configure Payables and Payments
Manage Business Units
Manage Subledger Accounting
Manage Invoice and Payment Approvals
Reporting and Period Close
Explain Oracle Transactional Business Intelligence (OTBI)
Use Business Intelligence Publisher (BIP) Reports
Use the Payables to Ledger Reconciliation Report
Explain the Close process
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QUESTION 1
What is the invoice type of an unapproved, unmatched invoice that was created in the Supplier Portal?
A. Standard Invoice
B. Standard invoice request
C. Credit Memo
D. Supplier payment request
E. iSupplier Invoice
Answer: B
Standard invoice request: An invoice submitted without a purchase order by a supplier through
Oracle Fusion Supplier Portal thatis pending review and approval by the appropriate persons within
the deploying company.
References:https://docs.oracle.com/cd/E37583_01/doc.1116/e22897/F431919AN100ED.htm
QUESTION 2
You want your expense auditors to audit only expense reports for specific business units.
How do you do this?
A. Create a custom duty role and assign the data roles to each auditor.
B. Create your own audit extension rules that correspond to the business unit.
C. Make auditors the managers of the corresponding business unit to route expense reports properly.
D. Assign the expense auditors job role and business unit security context and value to the user.
Answer: D
QUESTION 3
Which invoice types can be included in the Create Payment flow?
A. Standard, Credit Memo and Debit Memo
B. Standard, Credit Memo and Customer Refund
C. Standard, Credit Memo, and Invoice Request
D. Standard, Debit Memo and Customer Refund
Answer: A
QUESTION 4
A company has a requirement to default the disbursement bank account when submitting a Payment
Process Request.
Which actions will accomplish this? (Choose two.)
A. Define the Disbursement Bank Account at the business unit level to have the payment process
derive the bank account.
B. Define the Disbursement Bank Account to the Payment Method in payment default rules.
C. Define the Disbursement Bank Account to every supplier.
D. Create a Payment Process Request template that includes the Disbursement Bank Account.
E. Assign the Disbursement Bank Account to users to have the payment process default the bank
account.
Answer: D, E
D: You can assign thedisbursement bank account and the payment process profile to all documents
payable in the payment process request during the Submit Payment Process Request process. If you
use a payment process request template, a disbursement bank account and a payment process
profile default from the template.
DE:The following options affect payment processing:
References:https://docs.oracle.com/cd/E37017_01/doc.1115/e22897/F438410AN16238.htm
QUESTION 5
Certain suppliers that your customer regularly deals with are exempt from tax. How would you
configure tax for this?
A. Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax
line from these suppliers.
B. Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to
the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.
C. Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime
on the Configuration Options tab.
D. Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it
to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.
Answer: D
