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Oracle 1Z0-1056-24 Exam Syllabus Topics:

SectionObjectives
Configuring Customer Billing- Manage AutoInvoicing
- Manage transaction types, transaction sources, Items, and memo lines
- Manage AutoAccounting
- Manage resources, salesperson, sales credits, and salesperson account references
- Configure revenue for Receivables
Configuring Common Receivables- Configure Sub Ledger Accounting
- Configure Tax
- Configure and import customers
- Configure Cash Management
- Configure Receivables using Rapid Implementation
- Configure Receivables
- Integrate Receivables with other applications
Configuring Customer Payments- Configure and manage Lockbox
- Configure and manage Automatic Receipts and Funds Capture
- Configure and manage Customer Receipts
Managing Customer Billing- Create and process transactions
- Manage AutoInvoice corrections
- Calculate transactional tax
- Manage transaction printing
- Manage the AutoInvoice process
Processing Customer Payments- Create and process receipt exceptions
- Create and process receipts
- Create and process bills receivables remittances
Reporting for Account Receivables and Advanced Collections- Report with Business Intelligence Publisher (BIP)
- Report with Oracle Transactional Business Intelligence (OTBI)
- Generate account receivables reconciliation
Configuring and Using Advanced Collections- Configure advanced collections
- Design and use scoring strategies
- Manage collections activities
Configuring Bill Management- Configure and use Oracle Bill Management

Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:

Which two statements are true about processing Receivables adjustments that impact tax amounts?

  • A. Receivables can look at invoice and retrieve the tax rate code.
  • B. There is no need to retrieve the tax rate code.
  • C. Receivables can look at System Options and retrieve the tax rate code.
  • D. Receivables can look at the adjustment activity and retrieve the tax rate code.
Reveal Solution  Discussion  0

Correct Answer: A,C  πŸ—³οΈ

You are utilizing the "Upload Customer From Spreadsheet" option. What information on the Customer Worksheet must be unique for each customer record?

  • A. Customer Name, Customer Account Number, Customer Site Number
  • B. Customer Number, Customer Billing Address, Customer Bank Account
  • C. Customer Name, Customer Billing Address, Customer Bank Account
  • D. Customer Number, Customer Account Number, Customer Site Number
Reveal Solution  Discussion  0

Correct Answer: D  πŸ—³οΈ

How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?

  • A. Only a Collections Administrator can modify the strategy.
  • B. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.
  • C. The strategy can be modified from the Manage Customers page.
  • D. The Collector can modify the strategy from the Profile > Strategies tab.
Reveal Solution  Discussion  0

Correct Answer: B  πŸ—³οΈ

Which two statements are true about Accounting for Tax on Receivables? (Choose two.)

  • A. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account that is defined on the receivable activity.
  • B. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables use the tax account of the tax code.
  • C. For Miscellaneous receipts, if the receivable activity tax rate code source is Activity for the activity type of Miscellaneous Cash, Receivables use the tax account that is defined on the receivable activity.
  • D. For Adjustments, if the receivable activity tax rate code source is Invoice, Receivables derive the tax account from auto-accounting.
  • E. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to No, Receivables derive the tax account from auto-accounting.
  • F. For Credit memos, if the profile "AR: Use Invoice Accounting for Credit Memos" is set to Yes, Receivables derive the item distribution from the invoice and the tax account from auto-accounting.
Reveal Solution  Discussion  0

Correct Answer: A,F  πŸ—³οΈ

An invoice for $100 USD has revenue deferred due to unmet payment-based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 USD has been issued against this invoice.
Explain how revenue accounting will occur.

  • A. Earned revenue will be debited for $50 USD.
  • B. Earned revenue will be credited for $50 USD.
  • C. Unearned revenue will be credited for $100 USD.
  • D. Unearned revenue will be debited for $50 US
Reveal Solution  Discussion  0

Correct Answer: B  πŸ—³οΈ

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