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  • Total Questions: 56
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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 ERP Cloud Financials Implementation
Oracle Financials Cloud: General Ledger
Oracle Financials Cloud: Receivables
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
Available Languages:English
Exam Format:Multiple Choice, Multiple Response
Certificate Validity Period:18 months
Recommended Training:Oracle Financials Cloud Learning Path
Oracle University Financials Cloud Training
Exam Registration:Oracle Exam Scheduling (Pearson VUE)
Oracle Certification Registration
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:

SectionObjectives
Topic 1: Payments- Payment processing
  • 1. Payment batches and execution
    • 2. Payment methods and formats
      - Payment controls and security
      • 1. Bank integration setup
        • 2. Payment approvals and limits
          Topic 2: Invoice Management- Invoice entry and processing
          • 1. Invoice validation rules
            • 2. Standard and recurring invoices
              - Invoice matching and approvals
              • 1. Approval workflow configuration
                • 2. Two-way and three-way matching
                  Topic 3: Accounting and Reporting- Reporting and reconciliation
                  • 1. Reconciliation with General Ledger
                    • 2. Payables reports
                      - Subledger accounting
                      • 1. Accounting distributions
                        • 2. Journal creation and transfer to GL
                          Topic 4: Tax and Compliance- Tax configuration
                          • 1. Withholding tax setup
                            • 2. Tax rules for invoices
                              Topic 5: Payables Setup and Configuration- Financials Cloud Payables Overview
                              • 1. Key roles and security setup
                                • 2. Business processes in Payables
                                  - Supplier Configuration
                                  • 1. Supplier creation and management
                                    • 2. Supplier sites and controls

                                      1Z0-1055-24 Exam FAQ: What Candidates Ask About Oracle Financials Cloud: Payables 2024 Implementation Professional

                                      The 1Z0-1055-24 exam, officially titled Oracle Financials Cloud: Payables 2024 Implementation Professional, is the Oracle exam you pass to earn the Oracle Financials Cloud certification, a credential at the Professional level. Passing it confirms the skills defined in the official exam outline, and it is associated with related credentials such as Oracle Financials Cloud: General Ledger, Oracle Financials Cloud: Receivables, Oracle ERP Cloud Financials Implementation.

                                      The 1Z0-1055-24 exam includes 55-70 questions and gives you 90 minutes to finish them. That is a tight pace per question, so get used to reading each stem once, flagging anything uncertain, and moving on rather than getting stuck. Running timed practice tests in the Fast2test desktop or online test engine is the most reliable way to build that rhythm before exam day.

                                      The passing score for the 1Z0-1055-24 exam is ~65% (Oracle scaled scoring may apply), and the official registration fee is USD 245 (may vary by region/tax). Keep in mind that a failed attempt means paying USD 245 (may vary by region/tax) again in full to retake it, so book your slot only when your scores on Fast2test practice tests sit consistently above the passing line.

                                      Oracle lists the following prerequisites or eligibility notes for the 1Z0-1055-24 exam: No strict prerequisites required. Familiarity with Oracle Financials Cloud or ERP concepts is recommended.. Requirements can change over time, so confirm the details on the official exam page at Oracle's official site before you register.

                                      You can register for the 1Z0-1055-24 exam through the official channels below:

                                      The exam is delivered in the following format: Online proctored exam via Pearson VUE or authorized testing centers. Choose a date that leaves you enough time to work through the full 56-question practice set first.

                                      Oracle recommends the following training resources for 1Z0-1055-24 candidates:

                                      Official courses build the theory, and the 56 practice questions from Fast2test help you turn that theory into exam-ready speed and accuracy.

                                      Yes. Fast2test offers a free PDF demo of the 1Z0-1055-24 material, so you can check the question style and answer quality before purchasing. Every purchase also includes 365 days of free updates, and if your product expires you can extend the update service at a 50% discount from your member zone.

                                      Your purchase is protected by a 100% Money Back Guarantee with clear conditions: if you take the corresponding 1Z0-1055-24 exam within 60 days of purchase and do not pass, you can apply for a full refund. The candidate name must match the payer name, and you need to submit a scanned exam enrollment slip together with the official Score Report PDF within 2 days of taking the exam; claims are processed within 7 days. Sitting the exam within 3 days of purchase, downloading without taking the exam, free materials, and expired orders are not covered. If you would rather not take a refund, you can exchange your order for two free exam products of equal value and keep the update service on your original purchase.

                                      Delivery is instant: your download links are emailed within one minute of payment, and you can also download directly from the website. If nothing arrives within 2 hours, contact customer service and check your spam folder. There is no limit on how many computers you can install the material on.

                                      The 1Z0-1055-24 exam blueprint is divided into 5 domains, starting with Accounting and Reporting; Invoice Management; Payables Setup and Configuration. For the complete domain-by-domain breakdown, see the Exam Topics section above — it lists every topic the current outline covers.

                                      Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions:

                                      Question 1

                                      You have assisted your customer with the implementation of Oracle Intelligent document Recognition (IDR).
                                      They want to track the accuracy of the invoice line recognition for invoices processed by IDR. You introduce them to the invoice documents recognition rate report to obtain the invoice line recognition details.
                                      In which three formats is this report available?

                                      A. Invoice Summary Details
                                      B. Invoice Header Details
                                      C. Invoice Line Summary
                                      D. Invoice Header supplier summary
                                      E. Invoice Header summary
                                      F. Invoice Line Details


                                      Question 2

                                      One of your clients notifies their suppliers of rejected invoices via email. You suggest that they instead send notifications to suppliers for rejected electronic invoices using industry-standard XML as a UBL 2.1 Invoice Response Message. Your client wants to know about the benefits of making this switch.
                                      Which two benefits of this feature can you share with them?

                                      A. You can customize automatic responses per invoice type.
                                      B. The notification provides suppliers with the option to request Payables manual intervention and support.
                                      C. Suppliers can view the rejection reason in their system and take corrective action.
                                      D. There is automatic processing of electronic response messages.


                                      Question 3

                                      MANAGE POLICIES BY EXPENSE CATEGORY
                                      The US1 Business Unit has an expense policy on meals that allows an employee to claim 30 USD per day for an evening meal, regardless of their role and location.


                                      Question 4

                                      Your organization has decided to create employee expense items by leveraging the digital assistant feature and sending expense receipts via email.
                                      Which is the next processing step after an email with an expense receipt is received in the expenses application?

                                      A. The application assigns an expense type based on category
                                      B. The application sends the expenses team receipt notification
                                      C. The application verifies the sender's email address and compares it with the employee's email addressed in HCM
                                      D. The application extracts the receipt details and creates expense items
                                      E. The Application automatically matched receipts to corporate card charges


                                      Question 5

                                      Adaptive Intelligence (AI), integrated with Oracle Payables Cloud, supports sophisticated data science that drives early payment discount offers.
                                      Which of these is NOT a feature of early payment discounts?

                                      A. Variable annual percentage rate (APR), based on "days paid early," is used to determine the discount amount.
                                      B. The earlier the payment, the greater the discount.
                                      C. Eligible discounts decrease on a sliding scale based on the supplier's discretion.


                                      Solutions:

                                      Question 1
                                      Answer: B,C,D
                                      Question 2
                                      Answer: A,D
                                      Question 3
                                      Answer: Only visible for members
                                      Question 4
                                      Answer: C
                                      Question 5
                                      Answer: C

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