Print it, install it, or open it in a browser — the Oracle Financials Cloud: Payables 2022 Implementation Professional material from Prep4away comes as a PDF, a Windows desktop engine, and an online engine. Same 1z0-1055-22 questions, three ways to fit them into your day.
Oracle 1z0-1055-22 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Accounting, Reporting and Period Close | 15% | - Manage Subledger Accounting - Use Payables to Ledger Reconciliation Report - Generate OTBI and BIP Reports - Execute Period Close Process |
| Topic 2: Payables Invoices | 20% | - Use Integrated Imaging Solution - Create and Process Invoices - Manage Invoice Matching and Validation - Manage Invoice Approvals |
| Topic 3: Expenses | 15% | - Set Up Expense Configuration - Manage Corporate Cards - Enter and Audit Expense Reports - Process Expense Reimbursements |
| Topic 4: Configure Payables and Payments | 20% | - Configure Payables Options - Set Up Payment Methods and Formats - Define Bank Accounts and Reconciliation - Manage Business Units |
| Topic 5: Payments | 15% | - Handle Withholding and Transaction Taxes - Create and Process Payments - Manage Payment Approvals |
| Topic 6: Suppliers | 15% | - Supplier Tax and Payment Setup - Manage Supplier Sites and Contacts - Create and Maintain Suppliers |
Oracle 1z0-1055-22 Exam: Your Questions, Answered
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The vendor's blueprint for the Oracle Financials Cloud: Payables 2022 Implementation Professional has 6 domains, led by Payables Invoices (20%), Suppliers (15%), Payments (15%). The weighting is a study plan in disguise — heavy domains deserve heavy hours. You'll find every domain and subtopic in the complete outline above.
Passing the 1z0-1055-22 exam earns the Oracle Financials Cloud: Payables 2022 Certified Implementation Professional certification — a Professional-level credential — issued directly by Oracle. It is proof of ability that travels well across employers and borders. The credential also links to Oracle Financials Cloud: General Ledger 2022 Implementation Professional, Oracle Financials Cloud: Receivables 2022 Implementation Professional, Oracle Financials Cloud: Expenses 2022 Implementation Professional, so it can be a first step rather than a final destination.
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Oracle Financials Cloud: Payables 2022 Implementation Professional Sample Questions:
The expense auditor has chosen to Request More Information for an expense report. Select two ways the system processes this action. (Choose two.)
- A. The expense report status remains Pending Payables Approval.
- B. The expense report is routed back to the approvers.
- C. The employee must resubmit the expense report.
- D. The audit can be completed before the requested information is received from the employee.
Correct Answer: A,B 🗳️
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What does the Place of Supply rule value "Bill to Party" imply in an Oracle Payables Invoice?
- A. Location assigned to the Business Unit for the transactions
- B. Location assigned to the Legal Entity Reporting Unit for the transactions
- C. Location assigned to the Supplier Party Site for the transactions
- D. Location assigned to the Legal Entity for the transactions
Correct Answer: B 🗳️
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The Government has introduced a new reduced tax recovery rate for certain services. You need to amend the configuration for your current tax regime to reflect this change.
Which three setups will you need to complete? (Choose three.)
- A. Setup a new tax rate
- B. Setup a new tax
- C. Setup Determining Factor and Condition Sets
- D. Setup a new tax rule
- E. Setup a new recovery rate
- F. Setup a new status
Correct Answer: A,D,F 🗳️
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You applied a prepayment amount of $5,000 USD to a $10,000 USD invoice. At the time of prepayment, the applicable tax rate was 5% ($250 USD); at the time of invoice creation, the tax rate is 10%. When you set up taxes, you choose to Recalculate Taxes for the Applied Amount Handling option.
How will the resulting tax be calculated?
- A. The tax calculation creates two tax lines: one for the invoice line amount and one for the prepayment with a negative amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -250 USD (5% * -5000).
- B. The tax for the prepayment is recalculated and the generated tax line amount will be $250 USD (5% * 10,000-5000).
- C. The tax for the prepayment is recalculated to use the new invoice tax rate that is also used for the invoice line amount. The two generated tax lines show $1,000 USD (10% * 10,000) for the invoice line tax amount and a prepayment tax line of -500 USD (10% * -5000).
- D. The tax calculated on the prepayment is reversed completely and the tax rateapplied to the invoice line is retained.
Correct Answer: C 🗳️
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You are testing the Payables to General Ledger Reconciliation report at the ledger level for your UK Ledger, you have run and selected the extract for the report but the request returned the message no data to display.
What is the reason for this?
- A. The financial category of Accounts Payable is not assigned to the liability accounts.
- B. You did not specify the range of liability accounts to include in the extract.
- C. You did not select the business units associated to the UK Ledger.
- D. The reconciliation flag has not been enabled for your liability accounts.
Correct Answer: A 🗳️
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