Exam Name: Oracle Financials Cloud: Payables 2024 Implementation Professional
Certification Provider: Oracle
Corresponding Certification: Oracle Cloud
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Oracle Financials Cloud: Payables 2024 Implementation Professional: 1Z0-1055-24 Exam Premium File as PDF & Test Engine
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Oracle 1Z0-1055-24 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: Payables 2024 Implementation Professional |
| Exam Number: | 1Z0-1055-24 |
| Related Certifications: | Oracle Financials Cloud: Receivables Oracle Financials Cloud: General Ledger Oracle ERP Cloud Financials Implementation |
| Available Languages: | English |
| Certificate Validity Period: | 18 months |
| Exam Format: | Multiple Choice, Multiple Response |
| Exam Price: | USD 245 (may vary by region/tax) |
| Passing Score: | ~65% (Oracle scaled scoring may apply) |
| Exam Duration: | 90 minutes |
| Real Exam Qty: | 55-70 |
| Recommended Training: | Oracle Financials Cloud Learning Path Oracle University Financials Cloud Training |
| Exam Registration: | Oracle Certification Registration Oracle Exam Scheduling (Pearson VUE) |
| Sample Questions: | Oracle 1Z0-1055-24 Sample Questions |
| Exam Way: | Online proctored exam via Pearson VUE or authorized testing centers |
| Pre Condition: | No strict prerequisites required. Familiarity with Oracle Financials Cloud or ERP concepts is recommended. |
| Official Syllabus URL: | https://education.oracle.com |
Oracle 1Z0-1055-24 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Payments | - Payment controls and security
|
| Topic 2: Accounting and Reporting | - Reporting and reconciliation
|
| Topic 3: Invoice Management | - Invoice matching and approvals
|
| Topic 4: Payables Setup and Configuration | - Financials Cloud Payables Overview
|
| Topic 5: Tax and Compliance | - Tax configuration
|
Oracle Financials Cloud: Payables 2024 Implementation Professional Exam FAQs and Straight Answers
The 1Z0-1055-24 exam, officially titled Oracle Financials Cloud: Payables 2024 Implementation Professional, is the qualifying test for the Oracle Financials Cloud certification from Oracle, a credential at the Professional level. Passing it proves you have the skills employers look for in certified professionals, and it can also support progress toward related credentials such as Oracle Financials Cloud: General Ledger, Oracle Financials Cloud: Receivables, Oracle ERP Cloud Financials Implementation.
The Oracle Financials Cloud: Payables 2024 Implementation Professional exam gives you 90 minutes to work through 55-70 questions. That is a steady pace with little room for second-guessing, so train yourself to read each question once, flag the difficult ones, and keep moving. Before exam day, sit at least two full timed sessions in the Fast2test test engine — when the clock feels familiar, it stops being a threat.
You need ~65% (Oracle scaled scoring may apply) to pass, and the official registration fee is USD 245 (may vary by region/tax). Fall short and you pay that fee in full again for every retake, which makes solid preparation the cheaper option by far. Work through the Fast2test practice questions until you score comfortably above the passing mark, then book your seat.
No strict prerequisites required. Familiarity with Oracle Financials Cloud or ERP concepts is recommended. Eligibility rules can change over time, so before you register, confirm the latest requirements on the official exam page: Oracle 1Z0-1055-24 exam overview.
You can book your 1Z0-1055-24 exam through any of these official registration channels:
The exam is delivered as Online proctored exam via Pearson VUE or authorized testing centers, so you can pick the option that fits your schedule when you book.
Oracle recommends the following training for Oracle Financials Cloud: Payables 2024 Implementation Professional candidates:
Pair that training with the 56 practice questions from Fast2test and you can check your readiness topic by topic before exam day.
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The Oracle Financials Cloud: Payables 2024 Implementation Professional syllabus is organized into 5 domains. The main areas include Tax and Compliance, Payments, and Accounting and Reporting. Scroll up to the Exam Topics section above for the complete, current outline before you plan your study schedule.
Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions:
MANAGE EXPENSE REPORT TEMPLATE
Task 1:
Create an Expense Report Template for the US1 Business Unit, where:
a. The effective start date is the current date.
b. The hotel expense type requires itemization and should include Internet, Room Rate, and Dinner.
c. The expense type is associated with the respective account
d. Card Expense Type Mapping is not enabled.
e. Company policy states that receipts
f. Users can indicate receipts are missing in their expense report and a warning should be displayed for any missing receipts.
g. All Expense Fields are optional.
Correct Answer:
See the Explanation for Step-by-Step Solution.
Explanation:
Task 1: Create an Expense Report Template for the US1 Business Unit
The following configurations need to be implemented:
# Effective Start Date: The current date.# Hotel Expense Type: Requires itemization with Internet, Room Rate, and Dinner.# Expense Type: Associated with the respective GL account.# Card Expense Type Mapping: Not enabled.# Receipts Policy: Users can indicate missing receipts, and a warning should be displayed.# Expense Fields: All fields should be optional.
Step-by-Step Solution
Step 1: Navigate to Expense Report Templates
* Log in to Oracle Financials Cloud with the Expense Manager or Financial Administrator role.
* Navigate to Setup and Maintenance.
* In the Search Bar, type "Manage Expense Report Templates".
* Click on Manage Expense Report Templates.
Step 2: Create a New Expense Report Template
* Click Create New Template.
* Enter the following details:
* Name: "US1 Business Unit Expense Report"
* Business Unit: US1 Business Unit
* Effective Start Date: (Set to current date)
* Enable for Use: # (Check this box)
* Click Save.
Step 3: Define the Expense Type - Hotel with Itemization
* Navigate to the Expense Types tab.
* Click Add Expense Type.
* Enter the following details:
* Expense Type Name: "Hotel"
* Expense Category: "Lodging"
* Requires Itemization: # (Check this box)
* Under Itemization, click Add Itemization Categories:
* Internet
* Room Rate
* Dinner
* Click Save.
Step 4: Associate Expense Types with GL Accounts
* Click on Edit Expense Type "Hotel".
* Go to the Accounting section.
* Select the appropriate GL Account for lodging expenses.
* Repeat this process for other required expense types.
* Click Save and Close.
Step 5: Disable Card Expense Type Mapping
* Navigate to the Corporate Card Expense Mapping tab.
* Ensure the "Enable Corporate Card Mapping" checkbox is unchecked.
* Click Save.
Step 6: Configure Receipts Policy
* Navigate to the Receipts tab.
* Under Receipt Handling, set:
* Company Policy: Employees must provide receipts.
* Allow users to indicate missing receipts? # (Check this box).
* Action for Missing Receipts: Raise a Warning (so that expense submission is not blocked).
* Click Save.
Step 7: Set Expense Fields as Optional
* Navigate to the Fields Setup tab.
* Ensure all Expense Fields are set to Optional.
* Click Save and Close.
Step 8: Validate and Activate the Template
* Review all configurations.
* Click Submit and Activate.
* Run the Validate and Deploy Expense Templates process to ensure all settings are applied.
Step 9: Testing the Expense Report Template
* Simulate an Expense Report Submission:
* Select Hotel Expense and enter details.
* Verify if the system requires itemization (Internet, Room Rate, Dinner).
* Submit without a receipt to check if a warning is displayed.
* Ensure all fields remain optional.
* Verify no corporate card expense mapping applies.
Expected Outcome:
# The Expense Report Template is successfully created for US1 Business Unit.# Hotel expenses require itemization into Internet, Room Rate, and Dinner.# Receipts are required, and a warning is displayed for missing receipts.# GL Account mapping is correctly applied to each expense type.# Card Expense Type Mapping is disabled.# All fields are optional, allowing flexible data entry.
Conclusion
By following these steps, we have successfully created and configured an Expense Report Template that meets all business requirements for the US1 Business Unit.
Your company has set certain entertainment daily limits in its Entertainment Policy to restrict employee entertainment expenses. Oracle Expenses supports the requirements within your entertainment policy where you can configure and define daily sum limits, along with single instance limits and yearly limits that depend on your policy requirements.
What are three considerations when enabling and defining daily limits in entertainment policies?
- A. This policy can be associated with both travel and entertainment policies.
- B. The limits apply only to company employees and excludes nonemployees.
- C. The limits defined in the policy will be enforced per attendee regardless of whether the policy has rate determinants set up.
- D. This policy can be associated only with entertainment policies.
- E. Use the entertainment policy to define single or multiple daily limits that need to be enforced per attendee or group of attendees.
- F. Use the entertainment policy to define single, daily, or yearly limits that need to be enforced per attendee.
- G. The limits defined in the policy will be enforced per attendee only if the policy has rate determinants set up.
Correct Answer: D,F,G 🗳️
During an internal audit of the expense reimbursement process, you observe a discrepancy where refunds from employees are being applied against positive payment requests. Your organization would like to keep them separate.
How do you achieve this?
- A. Set a specific pay group in the expense section of the employee record.
- B. Set a specific pay group in payables invoice options.
- C. Set a specific pay group in Expense system options.
- D. Set a specific pay group in disbursement options.
Correct Answer: C 🗳️
Your company wants to maximize early payment discount opportunities and will be using the "Campaign Management for Ealy Payment Discount Offers" feature, which allows them to on board suppliers into an early payment discounts program via email- based campaigns. Suppliers can respond directly from email and their responses are automatically processed and applied in payment process requests.
Which three response options are available to suppliers when replying to a campaign
- A. Decline the Offer
- B. Unsubscribe
- C. Subscribe
- D. Accept All Offers
- E. Enroll in a standing offer.
- F. Reject the Offer
Correct Answer: A,B,E 🗳️
You are trying to use the Match in Full option for a purchase order, but your search for the PO is returning no results.
Which two are the reasons for this?
- A. The Supplier or Purchase Order is set up for self-billing
- B. The match approval level is set to 3-way matching
- C. The Purchase Order is already partially matched to an invoice
- D. The match approval level is set to 4-way matching
Correct Answer: A,C 🗳️
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