Free Oracle 1Z0-1055-22 Exam Practice Questions & Explanations
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After you submitted a Payment Process Request, you noticed errors. You want to void the payments. Identify two statements that indicate when it is not possible to void a payment. (Choose two.)
A: You can't: Void a payment for aprepayment that's applied. You must first unapply the prepayment, then void the payment.
D: If the payment is cleared in cash management then it has to be uncleared first before you can void the payment.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm
A Payables user creates a manual invoice and a Withholding Tax Classification Code defaults on the invoice line when the invoice is saved.
Where does this Withholding Tax Classification Code default from?
Set withholding tax options on the Manage Tax Reporting and Withholding Tax Options page and on the supplier setup.
A company has a requirement to pay small suppliers outside of Payables, but it does not want to manually record each payment.
Which solution should you implement?
When you create a payment outside of Payables, for example, using a typed check or wire transfer, within Payables you can record the payment and update the invoices that you paid.
You have just imported invoices from a spreadsheet. What is the validation status of the imported invoices?
After the import process builds the invoices, the invoices can be viewed, modified, and validated on the Manage Invoices page.
References:https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_A149B7BD08207B6DE040D30A68816335
Which two are true for Payables Payment Terms? (Choose two.)
Assigning a reference data set to a business unit: When you define a business unit, assign the business unit a reference data set for thePayables Payment Termsreference group.
Before you define common options for Payables and Procurement, you must assign theImmediatepayment term to the reference data set for the business unit.