Exam Name: Oracle Financials Cloud: Receivables 2023 Implementation Professional
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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Oracle 1z0-1056-23 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: Receivables 2023 Implementation Professional |
| Exam Number: | 1Z0-1056-23 |
| Real Exam Qty: | 32-36 |
| Available Languages: | English |
| Related Certifications: | Oracle Fusion Cloud Financials: Receivables and Collections 2025 Implementation Professional Oracle Financials Cloud 2023 Implementation Professional |
| Exam Duration: | 90 minutes |
| Certificate Validity Period: | No expiration (subject to Oracle Cloud recertification policy) |
| Exam Price: | $245 - $250 USD |
| Passing Score: | 68% |
| Exam Format: | Hands-on Performance Based, Multiple Choice |
| Recommended Training: | Oracle Financials Cloud: Receivables Implementation Training |
| Exam Registration: | Pearson VUE Oracle University |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Online proctored or onsite at Pearson VUE authorized testing centers |
| Pre Condition: | No mandatory prerequisites; Oracle recommends 6-12 months hands-on implementation experience and completion of relevant training |
| Official Syllabus URL: | https://education.oracle.com/oracle-certification-path/pFamily_641 |
Oracle 1z0-1056-23 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Processing Customer Payments | 12% | - Create and Apply Receipts - Process Bills Receivables and Remittances - Resolve Receipt Exceptions |
| Configuring and Using Advanced Collections | 5% | - Define Scoring Strategies and Work Queues - Set Up Collections Framework |
| Configuring Customer Billing | 22% | - Manage AutoInvoice and AutoAccounting - Define Transaction Types, Sources, Items and Memo Lines - Set Up Sales Credits and Revenue Recognition |
| Configuring Bill Management | 5% | - Configure and Use Oracle Bill Management |
| Configuring Common Receivables | 20% | - Configure Receivables System Options - Configure Cash Management and Application Integration - Configure Receivables Using Rapid Implementation - Configure Tax and Subledger Accounting - Configure and Import Customers |
| Reporting and Reconciliation | 3% | - Perform Receivables Reconciliation - Use OTBI and BI Publisher for Reporting |
| Configuring Customer Payments | 15% | - Set Up Receipt Methods and Lockbox - Configure Automatic Receipts and Funds Capture |
| Managing Customer Billing | 18% | - Create and Process Transactions - Correct and Manage AutoInvoice Errors - Calculate Tax and Print Transactions |
Your Oracle Financials Cloud: Receivables 2023 Implementation Professional Questions, Our Straight Answers
Currently, the 1z0-1056-23 exam's passing score is 68% and the registration fee is $245 - $250 USD. Both are Oracle's figures and subject to revision — verify them on the official site before you schedule.
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Reliability here is built, not claimed. The 1z0-1056-23 bank is written by a team of IT experts and certified trainers with a wealth of knowledge in the Oracle Financials Cloud: Receivables 2023 Implementation Professional field, and we constantly keep it updated. The online test engine is the signature service: it fits the atmosphere of the actual test in advance, supports Windows, Mac, Android, and iOS, carries no installation limits, and lets you practice anytime, anywhere — perfectly suited to IT workers. Download the free sample first to learn about the product, and know that after purchase you may request the latest version at any time on top of 365 days of automatic updates.
The Oracle Financials Cloud: Receivables 2023 Implementation Professional blueprint covers these core domains:
- Processing Customer Payments (12%)
- Configuring Customer Payments (15%)
- Configuring and Using Advanced Collections (5%)
Further domains complete the official outline; the bank addresses every one.
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Oracle states the following prerequisites for the Oracle Financials Cloud: Receivables 2023 Implementation Professional: No mandatory prerequisites; Oracle recommends 6-12 months hands-on implementation experience and completion of relevant training.
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Oracle Financials Cloud: Receivables 2023 Implementation Professional Sample Questions:
Manage Transaction Types
Scenario
A US based company acquired on January 1. 2023. requires Supremo US Business Unit to capture invoices in Oracle Financials Cloud.
Task:
Define a new Transaction Type for the class invoice, where:
* Name of the transaction type is XXinvoice (Replace XX with 03.which is your allocated User ID.)
* Customer bills assigned to this transaction type must be printed
* Transaction type is meant for billing transactions With open balances
* Balances need to be maintained for invoices associated with this
transaction type
* Freight charges must be allowed
* Cash applications to invoices assigned to this transaction type must not exceed the invoice balance due
* Invoices associated with this transaction type must be accounted for in the General Ledger application.
* Revenue GL account 41000 should be assigned as a reference account for the business unit in question and the company segment must be 120 Supremo Fitness See the explanation below for solution.
Correct Answer:
Explanation
* Log in to Oracle Financials Cloud.
* Click on the Transaction Types icon in the Receivables work area.
* Click on the Create button.
* In the Transaction Type window, enter the following information:
* Name: XXinvoice
* Class: Invoice
* Transaction Action: Create
* Transaction Source Type: Customer
* Print Customer Bills: Yes
* Allow Freight Charges: Yes
* Allow Cash Applications: Yes
* Accounting:
* Reference Account: 41000
* Company Segment: 120 Supremo Fitness
* Click on the Save button.
The new transaction type will be created and the customer bills associated with this transaction type will be printed. The balances will also be maintained for invoices associated with this transaction type. Freight charges will be allowed and cash applications to invoices assigned to this transaction type must not exceed the invoice balance due. The invoices associated with this transaction type will be accounted for in the General Ledger application. The revenue GL account 41000 will be assigned as a reference account for the business unit in question and the company segment must be 120 Supremo Fitness.
Steps to confirm the Oracle Applications Cloud version:
* Click on the Settings and Actions menu under your profile in the Oracle Applications Cloud window.
* Click on About This Application in the Settings and Actions menu.
* Copy the complete version number from the About this Application pop-up in the Oracle Application Cloud window.
* Paste the version number in the box below.
* Click Confirm.
Version Number: 21A
You defined a Payment Terms Threshold Policy to defer revenue recognition of 120 days. An invoice is imported with split Payment Terms, consisting of the following five installments:
What revenue amount would be deferred on this Imported Invoice?
- A. 1000
- B. 2000
- C. 3000
- D. 5000
- E. 4000
Correct Answer: D 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
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?
- A. It will return an error and the data will be stuck in the interface table.
- B. Invoice will get created but accounting will not be created.
- C. Invoice will be created and the system will use the AutoAccounting configuration to create accounting.
- D. Neither invoice nor accounting will be created.
Correct Answer: C 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
You are an IT contractor for a client who wants to increase internal controls on bank accounts set up in the Cash Management application. According to their new policy, a Cash Manager s ability to add. review, or make changes to bank accounts must be regionalized and restricted by their org structure.
Which statement is true about the restrictions applied to the setup?
- A. Cash Managers can create and manage bank accounts for only those legal entities to which they are given access.
- B. Cash Managers can only create but not manage bank accounts for those legal entities to which they are given access.
- C. Cash Managers can create and manage bank accounts for only those business units to which they are given access.
- D. Cash Managers cannot create but only manage bank accounts for those legal entities to which they are given access.
Correct Answer: A 🗳️
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