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Oracle 1Z0-1056-24 Exam Syllabus Topics:

SectionObjectives
Topic 1: Receivables Configuration- System Setup
  • 1. Configure Cash Management integration
    • 2. Configure AutoAccounting and transaction sources
      • 3. Configure Subledger Accounting integration
        • 4. Configure Receivables using Rapid Implementation
          Topic 2: Collections and Billing Extensions- Advanced Receivables Functions
          • 1. Bill management configuration
            • 2. Dunning and collections processes
              • 3. Revenue configuration
                Topic 3: Customer and Account Configuration- Customer Setup
                • 1. Configure and import customers
                  • 2. Manage customer profiles and account structures
                    Topic 4: Processing Customer Payments- Receipt Management
                    • 1. Receipt application and exceptions
                      • 2. Lockbox processing
                        • 3. Create and process receipts
                          Topic 5: Managing Customer Billing- Transaction Processing
                          • 1. Transaction validation and printing
                            • 2. Manage AutoInvoice process and corrections
                              • 3. Tax calculation for transactions
                                • 4. Create and process transactions

                                  Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:

                                  You created a bills receivable that is factored with recourse and applied a wrong receipt to the short-term debt before the bill maturity date plus the risk elimination days.
                                  Which actions are true? (Choose two.)

                                  • A. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.
                                  • B. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Protested.
                                  • C. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Pending Remittance.
                                  • D. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.
                                  • E. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A,C  🗳️

                                  Which three actions can be performed in the Collections Work Area, which will have an impact on the collection process?

                                  • A. Applying a customer payment in the Aging Tab.
                                  • B. Changing the collector in the Profile Tab.
                                  • C. Creating a credit memo in the Transactions Tab.
                                  • D. Processing a payment promise in the Transactions Tab.
                                  • E. Adding new customer contacts in the Contacts tab.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B,D,E  🗳️

                                  Which two statements are true regarding the Promise to Pay feature in the Collections application?

                                  • A. Mass promise to pay amounts automatically become partial payments.
                                  • B. Promise information is updated by scheduling the Promise Reconciliation process.
                                  • C. You cannot cancel a promise made in error if it is before the promise due date.
                                  • D. You can cancel a promise made in error if it is before the promise due date.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

                                  You have been asked to assign a reference data set to a specific Business Unit for several Receivable setups.
                                  What are the navigational steps needed to accomplish this task?

                                  • A. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Financial Reporting Structures"/Task: "Manage Business Unit Set Assignment"
                                  • B. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Receivables"/Task: "Manage Business Unit Set Assignment"
                                  • C. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Legal Structures"/Task: "Manage Business Unit Set Assignment"
                                  • D. Setup and Maintenance/Setup Dropdown: "Financials"/Functional Area: "Organization Structures"/Task: "Manage Business Unit Set Assignment"
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  🗳️

                                  Which is NOT a valid Infotile in the Accounts Receivables Work Area?

                                  • A. Receipt Batches
                                  • B. Lockbox Exceptions
                                  • C. Unapplied Credits
                                  • D. Unapplied Receipts
                                  • E. Unidentified Receipts
                                  Reveal Solution  Discussion  0

                                  Correct Answer: E  🗳️

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