Important Oracle 1Z0-1055-25 Exam Questions

Answer: D, E

Answer: A

Answer: A

Explanation:

Comprehensive and Detailed In-Depth

In Oracle Financials Cloud, the Payment Process Request (PPR) undergoes several stages, each with specific functions and potential user interventions. When Payment Approval is enabled, the system incorporates an approval workflow to ensure that payments are reviewed and authorized before disbursement.

Stages of Payment Process Request:

Installment Selection:

Description: The system selects invoice installments based on predefined criteria such as due dates, payment methods, and supplier information.

User Action: Optional review if the 'Review Installments' option is selected.

Document Validation:

Description: Validates the selected installments for completeness and correctness, ensuring all necessary information is present.

User Action: Required if there are validation errors or missing information.

Build Payments:

Description: Groups validated installments into payments based on attributes like payment date, disbursement bank account, and payment method.

User Action: None, this is an automated process.

Review Proposed Payments:

Description: Allows users to review and, if necessary, modify the proposed payments before finalizing them.

User Action: Required if the 'Review Proposed Payments' option is selected.

Payment Approval:

Description: If enabled, this stage involves routing the proposed payments to designated approvers for authorization before disbursement.

User Action: Approvers must review and approve or reject the payments.

Create Payment Files:

Description: Generates the necessary payment files for disbursement, such as electronic funds transfer (EFT) files or check print files.

User Action: None, unless issues arise during file creation.

Trigger Point for Payment Approval:

The Payment Approval process is automatically triggered at the Review Proposed Payments stage. At this point, the system pauses to allow approvers to review the proposed payments and make decisions regarding their authorization. This control mechanism ensures that all payments are vetted before funds are disbursed, aligning with organizational policies and financial controls.

According to Oracle's documentation:

'If enabled, the payment process stops at the Review Proposed Payments stage. Approvers can then optionally remove payments directly from a payment process request and approve it.'

docs.oracle.com

Analysis of Options:

A . Review Proposed Payments: Correct. This is the stage where the payment approval process is triggered, allowing approvers to review and authorize payments.

B . Create Payment Files: Incorrect. This stage occurs after payment approval and involves generating the actual payment files for disbursement.

C . Review Installments: Incorrect. This is an earlier stage where selected installments are reviewed before payments are built, but it does not involve the payment approval workflow.

D . Build Payments: Incorrect. This stage involves grouping validated installments into payments and occurs before the Review Proposed Payments stage.

Conclusion:

Enabling Payment Approval in Oracle Financials Cloud introduces a critical control point at the Review Proposed Payments stage of the Payment Process Request. This setup ensures that all proposed payments undergo managerial review and authorization before the creation of payment files and the actual disbursement of funds. Implementing this approval process helps maintain robust financial oversight and compliance within the organization's payment workflows.

Oracle Financials Cloud Documentation -- How You Set Up Payment Approval https://docs.oracle.com/en/cloud/saas/financials/24d/faipp/how-you-set-up-payment-approval.html

Oracle Financials Cloud Documentation -- How You Set Up Payment Approval https://docs.oracle.com/en/cloud/saas/financials/24d/faipp/how-you-set-up-payment-approval.html

Topic 2, Challenges (Hands-on Performance Based)

Answer: A, C

Explanation:

Comprehensive and Detailed In-Depth

For an invoice to be available for payment processing in Oracle Payables, it must meet specific criteria. If an invoice is missing from the Create Payment page, the following could be the reasons:

The Invoice is Not Validated (Option A):

Invoices must be validated to ensure data accuracy and compliance with business rules. If an invoice is not validated, it remains in an Incomplete status and is not available for payment.

Resolution: Run the Invoice Validation process to validate the invoice. Once validated, it will appear in the Create Payment page for selection.

The Payment Supplier Site Selected Differs from the Supplier Site on the Invoice (Option C):

Invoices are tied to a specific supplier site. If the supplier site selected when creating the payment does not match the supplier site on the invoice, the invoice will not be available for selection.

Resolution: Ensure that the supplier site selected on the Create Payment page matches the supplier site associated with the invoice.

Options B and D Analysis:

The Invoice is Not Yet Due (Option B):

While an invoice's due date impacts its eligibility for automatic payment processing (such as Payment Process Requests), it does not prevent an invoice from being selected manually for an off-cycle, single payment.

Verdict: Not a valid reason for invoice non-selection.

The Invoice is Not Accounted (Option D):

An invoice does not need to be accounted before payment; payment can be processed first, and accounting entries can be created afterward.

Verdict: Not a valid reason for invoice non-selection.

Thus, the correct answers are A. The invoice is not validated and C. The supplier site on the invoice does not match the supplier site selected during payment creation.

Answer: D, E, F