Free 1Z0-1056-25 sample questions

Correct answers: Configure AutoCash Rule Sets with a sequence that prioritizes 'Match Payment with Invoice'.; Define a Lockbox Transmission Format that correctly maps the invoice number from the bank file to the transaction number field.

The AutoCash Rule Set is the engine that drives automatic receipt application. For a business where customers pay exact invoice amounts, prioritizing the 'Match Payment with Invoice' rule is essential for achieving a high hit rate.

The system cannot match a payment to an invoice if it doesn't know where to find the invoice number in the bank file. The transmission format provides this critical mapping. An incorrect or incomplete mapping is a primary cause of Lockbox failures.

Correct answer: A manual journal entry was posted directly to the Accounts Receivable control account in the General Ledger.

The Accounts Receivable account in the GL should be a control account, meaning its balance should only be affected by entries coming from the AR subledger. If a manual journal is posted directly to this account in GL, the GL balance will change, but the AR subledger balance will not, creating a reconciliation difference. The 'AR to GL Reconciliation' report would not be aware of this manual GL entry, making it the most likely cause when all subledger transactions are confirmed as posted.

Correct answer: True

This statement is true. A key feature of the Bill Management module is providing a robust self-service portal for customers. This includes the ability to review invoices, make payments, and initiate disputes on full invoices or specific invoice lines. This action automatically creates a dispute record within the core Receivables or Advanced Collections module for internal review and resolution.

Correct answer: Configure two distinct Collection Strategies: one for 'Key Accounts' that creates manual tasks for collectors, and another for 'Standard Accounts' that primarily uses automated dunning letters.

Collection Strategies are designed for this exact purpose. A strategy is a sequence of tasks (work items). For 'Key Accounts', the strategy can be configured with manual tasks like 'Call Customer' or 'Review Account', ensuring a high-touch approach. For 'Standard Accounts', the strategy can be built around automated tasks like sending a series of dunning letters. This correctly applies the right collection method to the right customer segment.

Correct answer: It reduces manual data entry errors and speeds up invoice creation by suggesting GL accounts based on historical data.

The core purpose of this AI feature is to learn from how users have historically created accounting distributions for non-standard transactions (like adjustments or miscellaneous receipts). It then uses this learning to predict and default the correct GL account combination, reducing the need for manual entry, minimizing coding errors, and accelerating the transaction entry process.

Correct answer: The system will apply the payment to the oldest items first, such as previous unpaid balances, penalties, and then new charges.

In a Balance Forward Billing environment, payments are typically applied against the consolidated bill in a predefined order. The standard logic is to clear the oldest outstanding items first. This usually means applying the payment to any brought-forward balance, then to finance charges or penalties, and finally to the new current charges, ensuring the oldest debt is cleared first.

Correct answer: Creating separate Business Units for each subsidiary and assigning customer account sites to the appropriate BU-specific Reference Data Set.

This is the correct data security model. By creating separate Business Units (BUs) for each subsidiary, you establish the primary data partition. The key step is then assigning customer account sites (the bill-to/ship-to addresses) to Reference Data Sets that are specific to each BU. This ensures that users operating within one BU can only see and transact with the customer sites assigned to their BU's set, effectively segregating the data and preventing cross-subsidiary invoicing for exclusive customers.

Correct answers: Configure the 'Create Automatic Receipts' process to select invoices with credit card payment terms.; Set up a payment system (payment gateway) and configure it for funds capture.; Schedule the 'Create Settlement Batches' and 'Transmit Settlement Batch' processes.

This is the core process that identifies open invoices that are eligible for automatic payment and creates receipt records for them in the system.

After creating the receipt, the system needs to communicate with a payment gateway to actually process the credit card transaction and capture the funds. This setup is crucial for the payment collection step.

Once funds capture is successful, settlement batches must be created and transmitted to the payment processor. This finalizes the transaction flow and ensures the funds are deposited into the company's bank account.

Correct answer: The Receivables Activity used for the adjustment is not configured with an Activity Type of 'Adjustment'.

In Oracle Receivables, the list of available adjustment types is controlled by the setup of 'Receivables Activities'. For an activity to be available for creating an adjustment, it must be explicitly defined with an 'Activity Type' of 'Adjustment'. If it's set to 'Miscellaneous Cash' or another type, it will not appear in the adjustments LOV. The GL account for the adjustment is also defined within this Receivables Activity setup.

Correct answer: Implement Lockbox using a BAI2 transmission format. Configure customer-specific application exception rules to automatically create deduction claims for large retailers, and use a system-level AutoCash Rule Set to handle the simple invoice matching for small stores.

This is the most comprehensive and effective solution. It correctly uses Lockbox for all payments, leveraging the bank's consolidation service. The key is the dual approach to application rules. For large retailers with predictable deductions, customer-level 'Application Exception Rules' can be configured to automatically identify short-payments (based on reason codes in the remittance) and create deduction claims in Channel Revenue Management or Receivables, thus fully automating the application. For the simpler payments from small stores, a robust system-level AutoCash Rule Set (matching on invoice number) will handle them efficiently. This combination directly addresses the complexity and variety of GII's payment scenarios to achieve the highest automation rate.