1Z0-1056-22 Online Practice Questions and Answers

One of the customers pays its bills electronically from their bank account (Direct debit).

Which process do you need to run in Receivables to initiate the transfer of funds from their bank account to yourorganization's bank account?

A. Clear Receipts Automatically Process

B. Remittance Process

C. Automatic Receipt Process

D. Lockbox Process

Which two are Late Charge Calculation Methods?

A. Credit Items and Disputed Transactions

B. Late Payments Only

C. Adjustment

D. Overdue Invoices Only

Given the default system options:

Which two instances are you required to select for the ?require salesperson flag? (Choose two.)

A. Sales credit tracking is required

B. FBDI Loader is required

C. Auto-Invoicing is required

D. Revenue accounting is required

Which three benefits do intercompany reconciliation reports provide to anaccountant?

A. Comparing receivables and payables account balances and identifying discrepancies.

B. Displaying intercompany receivables and payables balancing lines.

C. Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.

D. Displaying clearing company balancing lines.

You created an Auto cash Ruleset where the first rule to be applied to receipts is Match Payments with Invoice. Discount = Earned Only, Late charges = NO, Receipt = $900, Receipt date =14-Feb-2020, Discount

Grace Days = 5.

Which transaction will be applied to the receipt?

A. Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 28-Feb 2020

B. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 20-Feb-2020

C. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 24-Feb-2020

D. Invoice Amount: $800, Payment terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 28-Feb-2020

Identify the dunning letter template set provided by an application.

A. Soft, Regular, Hard

B. Regular, Medium, Hard

C. Final Demand, Soft, Medium

D. Regular, Final Demand, Medium

You entered an invoice of $12500 in the receivable and created a receipt with the amount $15000 received from the customer.

How will the system react if over applicationis enabled in transaction type while receipt is applied to the invoice?

A. Invoice balance is displayed as 0.

B. Invoice balance is displayed as 2500.

C. Invoice balance is displayed as 0 and Miscellaneous receipt is created with 2500.

D. Invoice balanceis played as 0 and On account receipt is created with 2500.

Which two duties are included in the Accounts Receivable Specialistassociated role? (Choose two.)

A. Import Payables Invoices Duty

B. Receipt Creation Duty

C. Trading Community Hierarchy Management Duty

D. Payment Settlement Management Duty

You are explaining the benefits of using Bill Management as a self-service electronic bill presentment solution to an existing customer.

Which feature is not supported in Bill Management?

A. Makingpayments by using a credit card or the bank account

B. Managing unapplied payments

C. Managing credit memos

D. Reviewing customer account balances

E. Managing disputes

Which two determinant types are used in reference data assignment? (Choose two.)

A. Business Unit

B. Account Segment

C. Project Segment

D. Project unit