Oracle 1z0-1056-23 Oracle Financials Cloud: Receivables 2023 Implementation Professional Exam Practice Test

it has been decided that when processing customer payments using lockbox one customer can pay for another customer's transaction.

Which two steps will help achieve this?

Your organization has decided to use the Portal Upload delivery method for some of their customers. You will be using this in place of other options, such as Print Email, or XML to deliver customer invoices.

Which step must be performed in the system to deliver transactions to your customers by using the Portal Upload method?

In Advanced Collections, scoring formulas are used to effectively manage your collection activities and strategies. Scoring formulas contain data points that help determine the collectability of your outstanding balances. To determine the number of days passed since the last payment was received from a customer, you can use the Age of Latest Payment data point.

At which details?

When entering the Customer import upload spreadsheet, which two columns, if populated with *NULL will remove the existing values on loading?

As an implementer. while importing data from a legacy/third-parly system, you forgot to populate the accounting distribution in the RA_INTERFACE_DlSTRIBUTIONS_ALL table. What happens when you run accounting?

Manage Receipt Classes and Methods

Scenario

Supremo US Business unit needs to capture customer payments that will be reconciled in the Cash Management application. You need to define a receipt class and receipt method, and assign the appropriate bank account to meet this requirement.

Task:

Create a manual Receipt Class, where:

• Name of the new receipt class is XXReceipt Class (Replace XX with 03, which is your allocated User ID.)
• Receipts using this new receipt class will not be remitted
• Organization will use Cash Management to clear their receipts

Manage Balance Forward Billing Cycles and Payment Terms

Scenario

You are a consultant for a client who is implementing the Balance Forward Billing feature in Oracle Financials Cloud. You have been asked to define Balance Forward Billing Cycle as well as Balance Forward Billing Payment Terms so that your client can generate consolidated bills.

Task:

Create Balance Forward Billing Cycle, where:

• Name of the cycle is XXCycle (Replace XX with 03. which is your allocated user ID.)
• Bills are generated every day
• Cycle is effective as Of January 1,2023

Manage Balance Forward Billing Cycles and Payment Terms

Scenario

You are a consultant for a client who is implementing the Balance Forward Billing feature in Oracle Financials Cloud. You have been asked to define Balance Forward Billing Cycle as well as Balance Forward Billing Payment Terms so that your client can generate consolidated bills.

Task:

Define Balance Forward Payment Terms, where:

• Name of the payment term is XXNet 30 (Replace XX with 03, which is your allocated user ID.)
• Payment terms are accessible to all business units
• Discounts are applicable to the full invoice amount
• Discounts are applicable even when the customer does not send a full payment
• Payment terms are effective as of January 1. 2023

Manage Collectors

Scenario:

You are responsible for defining a new collector. who will perform collection activities across multiple business units.

Task:

Create a new Collector. where:

• Name of the collector is (Replace XX with 03. which is your allocated User ID.)
• Collector must be available to all business units.
• Collector maps to employee FASXX Student (Replace xx with 03, which is your allocated User ID.)