Oracle 1z0-1081-20 (Oracle Financial Consolidation and Close 2020 Implementation Essentials) exam dumps vce, practice test questions, study guide & video training course to study and pass quickly and easily. Oracle 1z0-1081-20 Oracle Financial Consolidation and Close 2020 Implementation Essentials exam dumps & practice test questions and answers. You need avanset vce exam simulator in order to study the Oracle 1z0-1081-20 certification exam dumps & Oracle 1z0-1081-20 practice test questions in vce format.

An Introduction to the Oracle 1z0-1081-20 Exam

The Oracle Financials Cloud: Payables 2020 Implementation Essentials, also known as the 1z0-1081-20 Exam, is a certification designed for professionals who implement Oracle Financials Cloud solutions. This exam specifically targets individuals with a strong foundation in implementing the Oracle Payables module. Passing this test validates your skills and knowledge in this specialized area, making you a certified implementation specialist. This credential is highly regarded in the industry and can significantly enhance your career prospects. It demonstrates your ability to configure and manage the Payables application to meet business requirements effectively. The certification journey requires a deep understanding of the application's features and functionalities. The 1z0-1081-20 Exam is structured to test both theoretical knowledge and practical application of the concepts. Candidates are expected to be familiar with the entire procure-to-pay lifecycle, with a specific focus on the payables processes. This includes managing suppliers, processing invoices, handling payments, and performing period close activities. 

A successful candidate will not only know the 'what' but also the 'how' and 'why' of the Oracle Payables Cloud setup and administration, which is a key focus of the 1z0-1081-20 Exam. This exam is part of the Oracle Cloud Application certification track, which has been designed to keep pace with the evolving cloud technology landscape. As businesses increasingly migrate their financial operations to the cloud, the demand for certified professionals is on the rise. The 1z0-1081-20 Exam certification shows employers that you have the most up-to-date skills required to handle modern financial systems. It serves as a benchmark for your expertise and commitment to your professional development in the Oracle ecosystem. Preparing for it requires dedication and a structured approach. 

The exam content is meticulously curated by Oracle to reflect real-world implementation scenarios. It covers a broad spectrum of topics that an implementation specialist would encounter in their day-to-day work. From initial setup and configuration to ongoing maintenance and reporting, the 1z0-1081-20 Exam is comprehensive. Therefore, your preparation should be equally thorough. It is not just about memorizing facts but about understanding the intricate connections between different components of the Oracle Payables Cloud module and how they contribute to a streamlined financial process for an organization.

Who Should Take the 1z0-1081-20 Exam

This certification is primarily aimed at implementation consultants who are responsible for deploying Oracle Financials Cloud. This includes professionals working for Oracle partner companies or as independent consultants. The 1z0-1081-20 Exam is tailored for those who have hands-on experience with the Payables module and are looking to formalize their skills with an official Oracle credential. Having this certification can be a key differentiator in a competitive job market, proving your expertise to potential clients and employers and your readiness to tackle complex implementation projects. Financial professionals and business analysts who are deeply involved in the procure-to-pay process can also greatly benefit from this certification. 

While they may not be the primary implementers, understanding the system's capabilities and configuration options allows them to contribute more effectively to implementation projects. Passing the 1z0-1081-20 Exam gives them the language and knowledge to communicate requirements clearly to the technical team and to leverage the full potential of the Oracle Payables Cloud application to improve their organization's financial operations. System administrators and IT managers responsible for maintaining the Oracle Financials Cloud environment are another target audience. The knowledge gained from preparing for the 1z0-1081-20 Exam is invaluable for troubleshooting issues, managing user access, and ensuring the system runs smoothly. 

A certified administrator is better equipped to support end-users and to perform necessary system updates and configurations, ensuring the long-term health and efficiency of the application. This certification provides a solid foundation for managing the Payables module from a technical and administrative perspective. Aspiring Oracle consultants and recent graduates who wish to build a career in Oracle Cloud applications will find this certification to be a valuable starting point. While hands-on experience is recommended, preparing for the 1z0-1081-20 Exam provides a structured learning path to acquire in-depth knowledge of the Oracle Payables module. It can open doors to entry-level implementation roles and provide a clear trajectory for career growth within the Oracle ecosystem. It signals a serious commitment to the field and a proactive approach to skill development, which is highly valued by employers.

Exam Structure and Format

The 1z0-1081-20 Exam typically consists of multiple-choice questions designed to assess a wide range of skills. The questions are scenario-based, requiring you to apply your knowledge to solve practical problems that you might encounter during an implementation project. The exam is timed, so effective time management is crucial for success. You will need to answer a set number of questions within a specific duration. The exact number of questions and the time allotted can be found on the official Oracle certification website, and it's important to check this information before you start your preparation. 

The format is designed to test your understanding of the core concepts rather than simple memorization. You will be presented with various business scenarios and asked to choose the best configuration or course of action. This means you need to have a deep and practical understanding of the Oracle Payables Cloud application. The questions in the 1z0-1081-20 Exam might cover topics such as setting up payables options, managing supplier profiles, processing different types of invoices, and executing payment runs. Familiarity with the application's user interface and navigation is also beneficial. To pass the 1z0-1081-20 Exam, you need to achieve a minimum passing score, which is also specified by Oracle. The scoring is typically based on the number of correct answers. There is usually no penalty for incorrect answers, so it is always better to attempt every question. 

The exam is delivered through a secure, proctored environment, either at a testing center or online, to ensure the integrity of the certification process. You should familiarize yourself with the exam delivery platform and its rules before the test day to avoid any surprises. The questions are carefully designed to be clear and unambiguous, but they often contain subtle details that can trip up unprepared candidates. Reading each question and all the options carefully is essential. Sometimes, more than one option may seem correct, but you need to select the one that is the most accurate or best fits the given scenario. This is a key challenge of the 1z0-1081-20 Exam. Practice exams and sample questions can be incredibly helpful in getting used to the question style and the level of detail required.

Key Topics Covered in the Exam

The 1z0-1081-20 Exam syllabus is divided into several key areas, each carrying a different weight. A significant portion of the exam focuses on Payables Processing. This includes the entire lifecycle of an invoice, from its creation and validation to its approval and final payment. You will need to understand how to handle different invoice types, such as standard invoices, credit memos, and prepayments. Mastery of the invoice imaging solution and automated invoice processing through the Oracle Imaging and Process Management (IPM) is also a critical part of this section. Another crucial topic is Payments. This section covers all aspects of making payments to suppliers. You will be tested on your ability to configure payment methods, payment process profiles, and disbursement bank accounts. 

Understanding the end-to-end payment process, from creating a payment process request to generating payment files and recording the payment, is essential. The 1z0-1081-20 Exam also covers topics like handling payment voids, managing stop payments, and performing bank statement reconciliations within the Oracle Payables Cloud. Supplier Management is also a core component of the 1z0-1081-20 Exam. This includes configuring the supplier model, creating and maintaining supplier profiles, and managing supplier sites. You need to be proficient in the supplier onboarding process, including supplier registration and qualification. The exam will also test your knowledge of features like supplier portal, which allows suppliers to manage their own information and transact with the organization. Understanding how supplier information impacts invoice and payment processing is a key aspect of this domain. 

Furthermore, the exam covers Expenses and Period Close procedures. The Expenses section involves configuring expense report templates, auditing expense reports, and processing them for payment. You should be familiar with the integration between Oracle Expenses and Oracle Payables. The Period Close section tests your knowledge of the steps required to close the payables period, including running reconciliation reports, resolving exceptions, and ensuring the subledger is balanced with the general ledger. This is a critical process for any finance department, and the 1z0-1081-20 Exam ensures you are competent in managing it. Finally, the 1z0-1081-20 Exam delves into Payables Setup and Configuration. 

This is the foundational area that underpins all other functionalities. You must understand how to configure common options for payables and procurement, set up invoice options and payment options, and manage tax configurations as they relate to payables transactions. This section tests your ability to translate business requirements into system configurations. A solid grasp of these setup tasks is non-negotiable for anyone aspiring to become a certified implementation specialist for the Oracle Payables Cloud.

Preparing for the 1z0-1081-20 Exam

A successful preparation strategy for the 1z0-1081-20 Exam involves a combination of theoretical study and hands-on practice. Start by thoroughly reviewing the official exam topics provided by Oracle. This will give you a clear roadmap of what you need to learn. Use the Oracle Financials Cloud documentation as your primary source of information. The official documentation is comprehensive and provides detailed explanations of all the features and functionalities of the Payables module. It is the most reliable source for accurate and up-to-date information regarding the application. 

Gaining practical experience is perhaps the most critical part of your preparation. If you have access to an Oracle Financials Cloud instance, use it extensively. Try to perform all the tasks listed in the exam objectives. Configure the system from scratch, create different types of transactions, and run all the key processes. This hands-on practice will solidify your understanding of the concepts and help you answer the scenario-based questions in the 1z0-1081-20 Exam more confidently. If you do not have direct access, look for virtual labs or training environments. Joining study groups or online forums dedicated to Oracle certifications can also be very beneficial. Interacting with other candidates who are preparing for the 1z0-1081-20 Exam allows you to share knowledge, clarify doubts, and learn from their experiences. 

You can discuss complex topics, share study resources, and motivate each other throughout the preparation journey. Explaining a concept to someone else is one of the best ways to reinforce your own understanding. These communities provide a supportive ecosystem for learning. Finally, take practice exams to gauge your readiness. There are many providers of practice tests for the 1z0-1081-20 Exam. These tests simulate the actual exam environment and help you get familiar with the question format and time constraints. Analyzing your performance on these tests will help you identify your weak areas, so you can focus your remaining study time more effectively. Review the explanations for both correct and incorrect answers to deepen your understanding. Consistent practice is the key to building the confidence needed to excel in the final exam.

Deep Dive into Invoice Processing

Invoice processing is a cornerstone of the Oracle Payables module and a significant focus of the 1z0-1081-20 Exam. It encompasses the entire journey of a supplier invoice from receipt to payment readiness. The process begins with invoice creation, which can be done manually, through a spreadsheet upload, or automatically via integrated systems like Oracle Fusion Supplier Portal or B2B messaging. You must understand the nuances of each method, including the required data points and potential for errors. A key aspect tested is your ability to configure the system to handle these various invoice entry methods efficiently. Once an invoice is entered, it undergoes a validation process. This is a critical step to ensure the accuracy and completeness of the invoice data before it is approved for payment. 

The 1z0-1081-20 Exam will test your knowledge of the various validation checks that the system performs. These include matching the invoice to a purchase order or receipt, verifying tax calculations, and checking for duplicate invoices. You need to know how to configure holds and tolerances to manage exceptions that arise during the validation process. Resolving these holds is a practical skill that is often examined. The approval process is another vital component. Oracle Payables Cloud offers a flexible and powerful approval management engine (AME). As a prospective certified specialist, you must demonstrate proficiency in configuring approval rules based on various attributes, such as invoice amount, supplier type, or cost center. The 1z0-1081-20 Exam requires you to understand how to set up routing lists, define approval hierarchies, and manage notifications for approvers. 

The ability to design an approval workflow that meets specific business requirements is a hallmark of a skilled implementer. Finally, after an invoice is fully validated and approved, it becomes ready for payment. This stage involves accounting for the liability. You need to have a solid grasp of how to create accounting entries for invoices and how the system posts these transactions to the general ledger. The 1z0-1081-20 Exam will likely include scenarios related to invoice accounting, including handling distributions, managing accruals, and understanding the impact of different invoice actions on the financial statements. A thorough understanding of this subledger accounting flow is essential for success.

Mastering the Payments Workbench

The payments functionality within Oracle Payables is a comprehensive area that the 1z0-1081-20 Exam covers in detail. The heart of this functionality is the Payments Workbench, which provides a centralized platform for managing all aspects of disbursements. Your journey to mastering this topic begins with understanding the fundamental setup components. This includes defining disbursement bank accounts, configuring payment methods for different modes of payment like checks or electronic funds transfers (EFT), and setting up payment process profiles that bundle these configurations into reusable templates for payment runs. 

Executing a payment run is a multi-step process that you must know inside out. It starts with a payment process request (PPR), where you define the criteria for selecting invoices to be paid. The 1z0-1081-20 Exam will test your ability to use various selection criteria, such as due date, supplier, or currency, to build the PPR. Once the invoices are selected, the system builds the proposed payments. You need to be able to review these proposed payments, resolve any validation errors, and manage any rejected invoices before proceeding to the formatting and confirmation stages. The payment confirmation step is where the actual disbursement happens. This involves generating the payment file in the format required by the bank and, if applicable, printing physical checks. You should be familiar with the different payment file formats and how to configure them in the system. 

After the payment is confirmed, the system updates the status of the invoices to paid and generates the necessary accounting entries to relieve the liability and debit the cash account. Understanding this end-to-end flow and the associated accounting is critical for the 1z0-1081-20 Exam. Beyond standard payment runs, the 1z0-1081-20 Exam also covers more advanced payment topics. This includes managing manual payments, handling payment voids and stop payments, and understanding the process for quick payments for urgent ad-hoc requests. You also need to be proficient in the bank statement reconciliation process. This involves importing bank statements, automatically or manually reconciling payments, and resolving any discrepancies. A comprehensive understanding of the entire payment lifecycle, from setup to reconciliation, is a prerequisite for passing the certification exam.

Effective Supplier Management

Supplier management is a critical business process, and its configuration within Oracle Financials Cloud is a key domain tested in the 1z0-1081-20 Exam. A well-managed supplier master file is essential for a smooth procure-to-pay process. Your expertise will be evaluated on your ability to configure the supplier model to capture all necessary information about your suppliers. This includes setting up supplier numbering, defining supplier types, and configuring descriptive flexfields to store additional supplier attributes. A clean and organized supplier master prevents payment errors and improves operational efficiency. The supplier onboarding process is a frequent topic in implementation projects and, consequently, in the 1z0-1081-20 Exam. You need to demonstrate a thorough understanding of the different ways to create suppliers in the system. This can be done manually by a procurement or payables user, or through the self-service supplier registration process where suppliers themselves initiate the onboarding. 

The exam will test your knowledge of configuring the registration workflow, including the information required from suppliers and the internal approval process for new supplier requests. Managing supplier sites is another important aspect. A single supplier can have multiple sites for ordering, payment, and correspondence. You must know how to create and maintain these sites and understand the significance of the various controls at the site level. For example, you can define different payment methods, terms, and liability accounts for each site. The 1z0-1081-20 Exam will expect you to understand how this site-level information defaults onto invoices and impacts transaction processing. Proper site management is crucial for accurate invoice processing and payment. 

The Oracle Fusion Supplier Portal is a powerful tool for collaboration, and its features are relevant to the 1z0-1081-20 Exam. The portal allows suppliers to manage their own profile information, submit invoices, and inquire about the status of their invoices and payments. You should be familiar with the configuration options for the supplier portal, including how to provision user accounts for suppliers and control the information they can access and update. Understanding how to leverage the supplier portal can significantly reduce the administrative burden on the payables department and improve supplier relationships.

Navigating Tax Configuration

Tax configuration is often one of the most complex areas of a financials implementation, and the 1z0-1081-20 Exam ensures that certified specialists are proficient in it. While Oracle Financials Cloud has a dedicated Tax module, its integration and configuration for Payables transactions are essential. You must understand the fundamentals of the tax engine, including the roles of tax regimes, taxes, statuses, and rates. The exam will test your ability to set up this tax foundation to meet the specific tax requirements of the business, which can vary significantly by country and industry. A key concept you need to master is the tax determination process. You should be able to explain how the system determines the applicable tax on a payables invoice. This involves understanding the hierarchy of tax rules and the various determining factors, such as the supplier's location, the ship-to location, and the nature of the goods or services being purchased. The 1z0-1081-20 Exam will likely present you with scenarios where you need to troubleshoot why a particular tax was or was not calculated on an invoice, requiring a deep understanding of this logic. 

Withholding tax is a special type of tax that is often handled within the Payables module, and it is a guaranteed topic on the 1z0-1081-20 Exam. You need to know how to configure withholding tax options, define withholding tax codes, and associate them with suppliers. The exam will assess your ability to manage the entire withholding tax process, including calculating the tax at invoice validation or payment, generating withholding tax certificates for suppliers, and running reports for tax authorities. This is a critical compliance area for many organizations. Finally, accurate tax reporting is paramount. You must be familiar with the various tax reports available in Oracle Financials Cloud that help organizations meet their statutory reporting requirements. This includes reports for value-added tax (VAT), sales tax, and withholding tax. The 1z0-1081-20 Exam will test your knowledge of how to run these reports and how the underlying data is derived from the payables transactions. An implementation specialist must be able to ensure that the system is configured to capture all the necessary information for compliant and accurate tax reporting.

Period Close and Reconciliation

The period close process is a critical accounting function that ensures the financial data for a given period is accurate and complete. The 1z0-1081-20 Exam places significant emphasis on your ability to manage the Payables period close. You must be intimately familiar with the sequence of steps involved in closing the period. This includes completing all transactional activity, running key validation and reconciliation reports, and finally, changing the status of the period to closed. A smooth and timely period close is a key performance indicator for any finance team. Before closing the period, you must perform several reconciliation activities. The 1z0-1081-20 Exam will expect you to know how to use the standard reports to reconcile your payables subledger with the general ledger. The Payables to General Ledger Reconciliation report is a key tool for this, and you need to understand how to interpret its output and investigate any discrepancies. You should also be able to reconcile your payables activity with supplier statements and resolve any differences. These reconciliation steps are crucial for ensuring the integrity of your financial data. Handling exceptions is a major part of the period close process.

You will be tested on your ability to identify and resolve common issues that can prevent the period from being closed. This includes unaccounted transactions, invoices with holds, and payments that have not been fully processed. The 1z0-1081-20 Exam requires you to know which reports and inquiry screens to use to find these exceptions and what actions to take to resolve them. A systematic approach to exception handling is essential for an efficient period close. Once all transactions are processed and reconciled, the final step is to formally close the Payables period. This prevents any further transactions from being entered into that period, ensuring the stability of the financial records. The 1z0-1081-20 Exam will also cover the process of sweeping outstanding transactions to the next period if necessary. Furthermore, you should understand the implications of reopening a closed period and the controls around it. A complete understanding of the period close lifecycle, from preparation to finalization, is a must-have for any certified specialist.

Initial Setup and Configuration

The foundation of any successful Oracle Payables Cloud implementation lies in the initial setup and configuration. This is a primary focus area of the 1z0-1081-20 Exam, as it dictates how the entire module will function. The process starts with defining the common options for payables and procurement. These settings, configured within the Functional Setup Manager, establish fundamental behaviors for the application, such as the business unit's default liability account, payment terms, and invoice currency. A thorough understanding of each option's impact is crucial for tailoring the system to meet specific business needs. Next, you must configure the invoice options. This involves setting up invoice numbering, default payment terms, and holds and tolerances. For example, you can define rules to automatically place a hold on an invoice if the invoiced quantity exceeds the received quantity by a certain percentage. The 1z0-1081-20 Exam will test your ability to translate a company's policies regarding invoice processing into these system configurations. You also need to be proficient in setting up distribution sets, which are templates that can speed up the entry of non-purchase order invoices by automatically creating the accounting distributions. Similarly, configuring payment options is a critical task. 

This includes defining the payment methods the organization will use, such as check, electronic funds transfer, or wire. For each payment method, you must specify the associated bank account and payment process profile. The 1z0-1081-20 Exam will require you to demonstrate your knowledge of setting up payment documents for checks and configuring payment file formats for electronic payments. These configurations are vital for ensuring that payments are made accurately and efficiently through the desired channels. Finally, managing user access and security is a fundamental part of the initial setup. You must understand the Oracle Fusion security model, which is based on roles. The 1z0-1081-20 Exam expects you to know the standard job roles that come with the Payables module, such as Accounts Payable Manager, Accounts Payable Specialist, and Accounts Payable Supervisor. You need to be able to assign these roles to users and understand the privileges associated with each. Customizing roles to meet specific security requirements is also an important skill for an implementation specialist.

Configuring the Supplier Model

A robust supplier master file is essential for an efficient procure-to-pay cycle, and its configuration is a key topic in the 1z0-1081-20 Exam. The implementation process involves carefully designing the supplier profile to capture all relevant information. This starts with basic configurations like setting the supplier numbering scheme, which can be automatic or manual, and defining different supplier types to categorize your supply base (e.g., suppliers for goods, service providers, or employees). These foundational settings help in organizing and reporting on supplier data effectively. An important aspect of the supplier setup is configuring the supplier registration process. The 1z0-1081-20 Exam will assess your ability to configure the external supplier registration flow, which allows potential suppliers to submit their information for approval.

This involves customizing the registration form to collect necessary details like tax identifiers and banking information, and setting up the approval workflow to route the registration request to the appropriate internal stakeholders for review. A well-designed registration process ensures that new suppliers are onboarded efficiently and with complete and accurate data. You will also need to master the configuration of supplier sites. Each supplier can have multiple addresses for different purposes, such as ordering, payment remittance, and RFQ or bidding. The 1z0-1081-20 Exam requires you to understand how to create these sites and the significance of the controls defined at the site level. For instance, you can specify default payment terms, pay groups, and liability accounts for a particular payment site, which will then automatically populate on invoices created for that site. 

This level of detail is crucial for automating transaction processing. Furthermore, the 1z0-1081-20 Exam covers the setup of supplier portal functionality. As an implementer, you must know how to enable and configure the portal to allow suppliers to perform self-service activities. This includes granting them access to view their purchase orders, submit invoices, and check the status of their payments. Configuring the portal effectively not only improves supplier relationships by providing them with greater visibility but also reduces the administrative workload on the accounts payable team by deflecting routine inquiries.

Invoice Processing Configuration

Configuring the system to handle invoice processing efficiently is a major part of a Payables implementation and a significant portion of the 1z0-1081-20 Exam. One of the first steps is to set up the invoice imaging solution. This involves configuring the email address to which suppliers can send their PDF invoices and setting up the intelligent character recognition (OCR) technology to automatically extract key information from the invoice image, such as invoice number, date, and amount. Your ability to fine-tune this automated process to achieve a high success rate is a valuable skill. The next critical configuration is the invoice approval workflow. Oracle Payables uses the Approval Management Engine (AME) to manage invoice approvals. The 1z0-1081-20 Exam will test your ability to build approval rules based on a variety of invoice attributes. You might need to create a rule that routes invoices over a certain amount to a specific manager, or a rule that sends invoices for a particular department to the department head. Understanding how to use rule conditions, action types, and approver groups to construct complex approval hierarchies is essential.

You must also be proficient in configuring invoice holds and tolerances. Holds are rules that prevent an invoice from being paid until a specific condition is met. The 1z0-1081-20 Exam will expect you to know how to create both system-defined holds (e.g., for a duplicate invoice) and manual holds. You should also be able to set up tolerances, which define acceptable variances between the invoice, purchase order, and receipt information. For instance, you can set a tolerance to allow a small price difference without placing the invoice on hold, thereby streamlining the process. Finally, setting up invoice accounting is a fundamental configuration task. This involves defining the subledger accounting method and the journal line rules that determine how the accounting entries for invoices are created. The 1z0-1081-20 Exam requires you to understand how the system derives the different segments of the accounting combination, such as the company, cost center, and natural account, for the liability and expense distributions. Proper configuration of these accounting rules is critical for ensuring that your financial statements are accurate and reflect the company's liabilities correctly.

Payment System Configuration

A successful Oracle Payables implementation requires a meticulously configured payment system, a topic thoroughly covered in the 1z0-1081-20 Exam. The process begins with setting up bank accounts. This is not just about entering the account number; it involves defining the account for use with Payables, specifying the currencies it can handle, and linking it to a general ledger cash account. You must also configure the reconciliation settings, such as the tolerance rules and the accounting for any bank charges or errors. Once the bank accounts are set up, you need to configure the payment methods. The 1z0-1081-20 Exam will test your knowledge of setting up different disbursement types, including checks for printed payments and various electronic file formats for EFT and wire transfers. For each payment method, you will need to define usage rules that control when it can be used, such as limiting a particular method to specific business units or currencies. This ensures that payments are made through the appropriate channels as per company policy. 

A key component of the payment setup is the payment process profile (PPP). The PPP is a template that brings together all the different settings for a payment run. The 1z0-1081-20 Exam requires you to be an expert in creating and managing PPPs. Within a PPP, you will specify the payment method, the disbursement bank account, the payment file format, and the processing rules, such as how to group invoices into payments. A well-defined PPP automates and standardizes the payment process, reducing the risk of errors and improving efficiency. Finally, you must understand how to configure the payment file formats. Oracle provides many seeded formats for different banks and countries, but often, you will need to customize them or create new ones. The 1z0-1081-20 Exam may test your understanding of the payment format configuration tools, which allow you to map data from the Oracle Payables system to the specific layout required by the bank's file specification. This is a technical but essential skill for ensuring that electronic payments can be processed successfully by the financial institution.

Integrating with Other Modules

Oracle Payables does not operate in a silo; its integration with other modules is critical for a seamless end-to-end business process. The 1z0-1081-20 Exam will test your understanding of these key integration points. The most important integration is with Oracle Procurement. You must understand how purchase orders created in Procurement are matched to invoices in Payables. This involves configuring the matching options, such as two-way (PO and invoice), three-way (PO, receipt, and invoice), and four-way (PO, receipt, inspection, and invoice) matching, and setting the appropriate tolerances. Integration with Oracle General Ledger is another fundamental aspect. As an implementer, you need to configure the subledger accounting rules that govern how transactions from Payables are posted to the general ledger. The 1z0-1081-20 Exam requires you to understand the flow of data from the subledger to the GL, including the process of creating, transferring, and posting journal entries. You should also be familiar with the reconciliation reports that are used to ensure that the Payables subledger always ties back to the general ledger balance. 

The integration with Oracle Assets is also covered in the 1z0-1081-20 Exam. When an invoice for a capital asset is processed in Payables, the information needs to be transferred to the Assets module to create the asset record. You must know how to configure the system to identify these asset-related invoices, typically by using a specific expense account, and how to run the Mass Additions process to send the invoice line information to the fixed assets subledger. This ensures that capital expenditures are properly tracked and depreciated. Finally, understanding the integration with Oracle Cash Management is essential for managing the complete payment lifecycle. After payments are made in Payables, the information is sent to Cash Management for bank reconciliation. The 1z0-1081-20 Exam will test your knowledge of how payment and clearing information flows between the two modules. You should be able to configure the system so that when a bank statement is imported into Cash Management, it can automatically reconcile the cleared payments against the payment records that originated from Payables.

Managing Employee Expenses

Beyond traditional supplier invoices, Oracle Payables plays a crucial role in processing employee expense reports, a key advanced topic in the 1z0-1081-20 Exam. The process begins in the Oracle Expenses module, where employees submit their reports for reimbursement. As an implementation specialist, your responsibility starts with configuring the integration between Expenses and Payables. This involves setting up employees as suppliers in the system and defining the default liability account for expense report payments. A seamless integration is vital for timely reimbursement to employees. A significant part of the configuration involves setting up expense report templates and policies. The 1z0-1081-20 Exam will assess your ability to create templates that capture all necessary information for different types of expenses, such as airfare, meals, or lodging. You must also be proficient in configuring expense policies and audit rules. For example, you can set up a policy that requires a receipt for any expense over a certain amount, and an audit rule that flags reports for manual review if they exceed a specific threshold. These controls help in enforcing company policy and preventing fraud. 

The approval and audit process for expense reports is another critical area. Similar to invoices, expense reports go through an approval workflow that you need to configure. The 1z0-1081-20 Exam requires you to understand how to set up approval hierarchies for expense reports, which are often based on the employee's management line. You also need to know how to manage the audit process, including reviewing flagged reports, communicating with employees to get additional information, and finally, approving or rejecting the reports. Once an expense report is fully approved and audited, it is imported into Oracle Payables as an invoice. The 1z0-1081-20 Exam will test your knowledge of this import process, called "Process Expense Reimbursements and Cash Advances." You should understand how this process creates an invoice for the employee (who is treated as a supplier) and how to manage any exceptions that may occur. The final step is to include these expense report invoices in a regular payment run to reimburse the employees, completing the end-to-end process.

Advanced Payment Features

While standard payment runs are a core competency, the 1z0-1081-20 Exam also delves into more advanced payment features that address complex business scenarios. One such feature is the management of bills payable. A bill payable, or a future-dated payment, is created when you want to recognize the liability on the invoice due date but make the actual cash disbursement at a later date, often using a promissory note. You need to understand how to configure the system to use bills payable, including setting up the specific payment methods and maturity dates. Another advanced topic is the use of third-party payments. In some business situations, you may need to pay a party other than the supplier on the invoice. For example, a supplier might factor their receivables, directing you to pay a financial institution instead. The 1z0-1081-20 Exam will test your ability to configure supplier sites to allow for third-party payment relationships. You need to know how to set up the relationship and how the system handles the creation of the payment to the third party while still associating it with the original supplier's invoice. 

The 1z0-1081-20 Exam also covers the setup and use of global descriptive flexfields (DFFs) and extensible flexfields (EFFs) in the context of payments. These flexfields allow you to capture additional information on payment transactions that is not available in the standard fields. For instance, you might need to include a specific reference number in the payment file for regulatory reporting purposes. You should be able to define these flexfields and incorporate them into the payment file templates, which often requires a deeper technical understanding of the data model. Finally, managing complex payment scenarios like netting is an important skill. Netting allows a company to offset its payables and receivables balances with a trading partner who is both a customer and a supplier. Instead of making a full payment and receiving a full payment, you make or receive a single net payment. The 1z0-1081-20 Exam may include questions on how to configure and execute a netting settlement. This involves setting up netting agreements, defining the rules for selecting open receivables and payables, and running the netting process to create the final settlement transaction.

Reporting and Analytics

A key responsibility of an implementation specialist is to empower the business with insightful reporting and analytics, a topic that the 1z0-1081-20 Exam covers in depth. Oracle Financials Cloud offers a suite of reporting tools, and you need to be familiar with them. The most common are the Oracle Transactional Business Intelligence (OTBI) and BI Publisher. OTBI is a user-friendly tool for creating ad-hoc analyses and dashboards directly from the transactional data, while BI Publisher is used for creating highly formatted, pixel-perfect reports like printed checks or supplier correspondence. The 1z0-1081-20 Exam will expect you to be proficient in using OTBI to build reports related to the Payables module. You should be familiar with the different subject areas available for Payables, such as "Payables Invoices - Transactions Real Time" and "Payables Payments - Disbursements Real Time." You need to know how to drag and drop columns, apply filters, and create visualizations like graphs and charts to analyze data such as invoice aging, payment timeliness, and discount realization. The ability to create these reports helps the business monitor key performance indicators (KPIs). 

For BI Publisher, the 1z0-1081-20 Exam focuses on your ability to manage the standard reports and customize them if needed. This includes understanding the underlying data models and the report templates. For example, you might be asked about the process of modifying the standard check template to add a company logo or change the layout. This requires knowledge of the template design tools, which are often integrated with familiar applications like Microsoft Word, but also a good understanding of the XML data that feeds the report. Beyond the standard reporting tools, the 1z0-1081-20 Exam may also touch upon the more advanced analytics capabilities available in Oracle Analytics Cloud. While a deep knowledge of this separate product is not required, you should understand how Payables data can be extracted and loaded into a data warehouse for more sophisticated analysis, such as trend analysis or predictive modeling. An awareness of these broader analytics capabilities demonstrates a comprehensive understanding of how the Payables module fits into the organization's overall data strategy.

Automated Invoice Processing

Automating the invoice processing cycle is a major goal for most organizations, and the 1z0-1081-20 Exam thoroughly tests your knowledge of the tools available in Oracle Financials Cloud to achieve this. The primary tool is the Integrated Invoice Imaging solution. Your expertise will be evaluated on your ability to configure the entire end-to-end flow, from setting up the dedicated email inbox for invoice submission to managing the intelligent document recognition (IDR) engine that extracts the data. Fine-tuning the IDR settings to improve the recognition accuracy is a key implementation task. The 1z0-1081-20 Exam will also cover the use of the Payables Invoice Import process. This process allows you to import a large volume of invoices from external systems using a predefined spreadsheet template or an interface table. You need to understand the structure of the template, the required fields, and how to run the import process. Crucially, you must be able to troubleshoot and correct any errors that occur during the import, using the provided error reports to identify and fix issues with the source data.

Another automation feature you must be familiar with is Evaluated Receipt Settlement (ERS), also known as self-billing. ERS is a process that allows you to automatically create a standard invoice based on the receipt of goods, without receiving an actual invoice from the supplier. The 1z0-1081-20 Exam will test your ability to configure the system for ERS, which includes enabling the option for the supplier site and setting up the "Create Invoices" scheduled process. This can significantly reduce the volume of paper invoices and manual data entry. Finally, the 1z0-1081-20 Exam emphasizes the importance of configuring recurring invoices for payments that occur at regular intervals, such as rent or subscriptions. You need to know how to create a recurring invoice template, specifying the frequency, number of occurrences, and the amount. Once the template is set up, the system can automatically generate the invoices for each period. Understanding how to manage these templates and the generation process is another way an implementer can help a business streamline its payables operations.

Withholding Tax and Compliance

Managing withholding tax is a critical compliance function for many businesses, and it is an advanced topic that the 1z0-1081-20 Exam covers in detail. Your knowledge will be tested on the end-to-end configuration and processing of withholding tax. This starts with setting up the necessary tax components, such as the tax authority as a supplier, the withholding tax codes, and the tax classification codes. You must understand how these components work together to determine when and how much tax should be withheld from a supplier payment. A key aspect of the configuration is defining the withholding tax calculation point. The 1z0-1081-20 Exam requires you to know the difference between calculating withholding tax at invoice validation time versus at payment time. The choice depends on the specific country's regulations. You need to be able to set up the system to accommodate either scenario and understand the accounting implications of each. You also need to be proficient in setting up withholding tax hierarchies and rate schedules, which can be based on factors like the invoice amount. 

The 1z0-1081-20 Exam will also test your ability to handle withholding tax exceptions and reporting. You should know how to apply withholding tax exceptions for specific suppliers who may be exempt from withholding. After the tax is withheld and paid to the tax authority, you need to be able to generate the necessary documentation for your suppliers, such as withholding tax certificates. Furthermore, you must be familiar with the standard reports that are used to report the withheld amounts to the tax authorities, ensuring the organization remains compliant. Finally, you should understand the periodic reporting requirements, such as the 1099 reporting in the United States. The 1z0-1081-20 Exam will assess your knowledge of the setup required to track payments to 1099 reportable suppliers. This includes assigning the correct income tax type to the supplier site and ensuring that the invoice distributions are coded to 1099-reportable accounts. You need to know how to run the process to generate the 1099 forms at year-end and how to handle any corrections or adjustments.

Crafting Your Study Plan

A well-structured study plan is the first step towards success in the 1z0-1081-20 Exam. Begin by downloading the official exam objectives from the Oracle University website. This document is your blueprint, detailing every topic and sub-topic that you will be tested on. Allocate your study time based on the weightage given to each section in the exam. Areas like Payables Processing, Payments, and Setup typically carry more weight, so they deserve a larger portion of your focus. Create a realistic timeline, breaking down your preparation into weekly and daily goals. Your study materials should be a mix of official Oracle resources and practical application. The Oracle Financials Cloud documentation library is your most reliable source for in-depth knowledge. Supplement this with training courses offered by Oracle University, which are specifically designed to align with the 1z0-1081-20 Exam curriculum. However, theoretical knowledge alone is not enough. 

You must dedicate a significant amount of time to hands-on practice in a test or demo environment. Executing the configurations and processes yourself is the best way to solidify your understanding. Incorporate regular review sessions into your plan. The scope of the 1z0-1081-20 Exam is broad, and it is easy to forget details you studied early on. At the end of each week, take some time to quickly go over the topics you covered. This reinforcement will help you retain the information for the long term. Use flashcards or create your own summary notes for key concepts, setup steps, and process flows. This active recall method is much more effective than passive reading when preparing for a challenging exam like this one. Finally, schedule practice exams at regular intervals throughout your preparation, not just at the end. Use your first few practice tests as a diagnostic tool to identify your weak areas. This will allow you to adjust your study plan and focus on the topics where you need the most improvement. As you get closer to the exam date, use the practice tests to simulate the real exam conditions. This will help you manage your time effectively and build the confidence you need to perform well on the actual 1z0-1081-20 Exam.

Navigating Exam Scenarios

The 1z0-1081-20 Exam is known for its scenario-based questions, which test your ability to apply knowledge to real-world situations. To excel at these questions, you need to think like an implementation consultant. When you read a scenario, first identify the core business problem or requirement. Are they trying to automate invoice entry, enforce a new approval policy, or pay a supplier in a specific way? Understanding the business context is the key to selecting the correct technical solution from the options provided. Pay close attention to the details and keywords in the question. Words like "must," "always," "never," or "automatically" are often crucial in determining the correct answer. A scenario might describe a complex situation, but the question itself could be about a very specific configuration setting. Break down the question into smaller parts and analyze each one carefully. Eliminate the options that are clearly incorrect or irrelevant to the scenario. This process of elimination will significantly improve your chances of choosing the right answer. 

A common type of scenario question in the 1z0-1081-20 Exam involves troubleshooting. You might be presented with a situation where a process has failed or is not behaving as expected, and you will be asked to identify the cause. To answer these questions, you need a deep understanding of the end-to-end process flows and the dependencies between different configuration settings. During your hands-on practice, intentionally try to make things fail. This will help you learn the common error messages and how to resolve them, which is invaluable experience for the exam. Another key skill is to understand the "Oracle way" of doing things. The 1z0-1081-20 Exam is designed to test your knowledge of the standard functionalities of Oracle Financials Cloud. While there might be multiple ways to solve a problem in the real world, the exam is looking for the best practice solution using the application's built-in features. Avoid overthinking the scenarios or assuming information that is not provided. Base your answer solely on the information given in the question and your knowledge of the Oracle Payables module's capabilities.

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