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Every candidate studies differently, so Actualtests4sure offers the Oracle Financials Cloud: Payables 2020 Implementation Essentials practice questions in three formats: a printable PDF, a desktop test engine for Windows, and an online test engine that runs in any browser. Pick the one that fits your routine and start working through 114 questions today.

Oracle 1z0-1055-20 Exam Overview:

Certification Vendor:Oracle
Exam Name:Oracle Financials Cloud: Payables 2020 Implementation Essentials
Exam Number:1Z0-1055-20
Exam Format:Multiple Choice, Scenario-Based Questions
Certificate Validity Period:Version-specific, no fixed expiration
Available Languages:Japanese, English
Related Certifications:Oracle Financials Cloud 2020 Implementation Professional
Real Exam Qty:55
Exam Duration:90 minutes
Passing Score:60%
Exam Price:USD 245
Recommended Training:Oracle Financials Cloud: Implementing Payables
Exam Registration:Pearson VUE
Oracle University Registration
Sample Questions:Oracle 1z0-1055-20 Sample Questions
Exam Way:Online proctored or onsite at Pearson VUE testing centers
Pre Condition:No formal prerequisites; hands-on implementation experience recommended
Official Syllabus URL:https://education.oracle.com/oracle-financials-cloud-payables-2020-implementation-essentials/pexam_1Z0-1055-20

Oracle 1z0-1055-20 Exam Syllabus Topics:

SectionWeightObjectives
Payments Configuration and Processing25%- Explain Payment Security and Approvals
- Execute Payment Process Requests
- Setup Payments for Payables
- Configure Payment Formats
Invoicing and Accounting25%- Create and Account for Invoices
- Configure Subledger Accounting
- Process Income Tax and Withholding Tax
Reporting and Period Close15%- Perform Payables to Ledger Reconciliation
- Use BIP and OTBI Reports
- Integrated Imaging and Document Capture
- Explain Period Close Process
Expense Management15%- Enter and Approve Expense Reports
- Manage Corporate Cards
- Process Expense Reimbursements
Overview and Setup20%- Describe Functional Setup Manager
- Configure Business Units and Payables Options
- Manage Supplier Information

Common Questions About the Oracle Financials Cloud: Payables 2020 Implementation Essentials Exam

The Oracle 1z0-1055-20 exam, officially titled Oracle Financials Cloud: Payables 2020 Implementation Essentials, is the required test for earning the Oracle Financials Cloud: Payables 2020 Certified Implementation Professional certification, a credential at the Professional level. Passing it validates the skills Oracle expects from certified professionals, and it can also support progress toward related credentials such as Oracle Financials Cloud 2020 Implementation Professional.

The 1z0-1055-20 exam includes 55 questions, and you have 90 minutes to complete it. Before exam day, divide the available time by the question count so you know the pace you need to hold, and practice flagging time-consuming items for review instead of stalling on a single question. Timed sessions in the Actualtests4sure test engine are the easiest way to build that rhythm before it counts.

You need 60% to pass the 1z0-1055-20 exam, and the official registration fee is USD 245. Keep in mind that a failed attempt means paying that fee in full again for a retake, so avoid booking your seat on a hunch. Work through the Actualtests4sure practice test until your scores sit comfortably above the passing requirement before you schedule the exam.

Oracle asks candidates to meet the following requirement before registering: No formal prerequisites; hands-on implementation experience recommended. Exam policies do change, so confirm the latest details on the official exam page at https://education.oracle.com/oracle-financials-cloud-payables-2020-implementation-essentials/pexam_1Z0-1055-20 before you book.

You can book your seat through the official registration channels below:

The 1z0-1055-20 exam is delivered in the following format: Online proctored or onsite at Pearson VUE testing centers.

Oracle recommends the following official training for this exam:

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The Oracle Financials Cloud: Payables 2020 Implementation Essentials exam is organized into 5 major domains. Some of the key domains include:

  • Payments Configuration and Processing, accounting for 25% of the exam
  • Reporting and Period Close, accounting for 15% of the exam
  • Overview and Setup, accounting for 20% of the exam

Scroll up to the Exam Topics section for the complete breakdown, and use it to plan how much study time each domain deserves.

Oracle Financials Cloud: Payables 2020 Implementation Essentials Sample Questions:

Question #1

You have created an approval rule as follows:
Rule 1: If the invoice amount > $1000, route it to User 1.
Rule 2: If the invoice amount < $1000, auto approve it.
Now, the user creates an invoice for $1000 and routes it for approval. What will happen?

  • A. Invoice will not be processed.
  • B. Invoice will be sent to User 1 for approval.
  • C. The system will issue an error message after the approval has been initiated.
  • D. Invoice will be auto-approved.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Question #2

You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?

  • A. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.
  • B. Run the create accounting program.
  • C. Remove the documents or payments causing the error and resume the payment process.
  • D. Run the invoice validation program.
  • E. Terminate the payment process request.
Reveal Solution  Discussion  0

Correct Answer: A,C  🗳️

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Question #3

When submitting the Payables to General Ledger Reconciliation report, the extract did not select any data.
What should you check?

  • A. Make sure you specified a Business Unit in the parameters when running the extract.
  • B. Make sure you assign an Account parameter when running the extract to include liability accounts.
  • C. Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values.
  • D. Make sure you enabled the Reconciliation flag to all of your liability natural account values.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #4

Which statement is true about selecting a bank account on the Create Payment page?

  • A. LE on the bank account should be equal to LE on the invoice.
  • B. LE on the bank account should be different from the LE on the invoice.
  • C. Bank account must match the supplier's bank account.
  • D. There is no relationship between the business unit, bank, and LE. Users can pick any bank account that is setup in their system.
  • E. Users can pick any bank account as long as the bank account is tried to the business unit.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #5

You have an invoice with a payment term that has the following settings:
* Day of Month = 15
* Cut off Day = 11
* Months Ahead = 0
* Terms Date on Invoice = January 12th
What will the resulting due date for the invoice installment be?

  • A. January 15th
  • B. February 15th
  • C. March 15th
  • D. April 15th
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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