1Z0-1055-26 cheat sheet

Business unit is the primary partitioning key: suppliers, invoices, payments, and payment terms are configured per business unit; a supplier must be enabled for a business unit before invoices can be entered against it.

Invoice validation is controlled by an invoice tolerance set of rules (amount, quantity, date, control amount, tax amount) assigned via the Payables system options; exceeding a tolerance places the invoice on hold with a specific hold name.

Payment terms define due date logic: terms can be based on invoice date, goods received date, or a split/distribution set; prepayment terms use a separate prepayment terms field on the supplier site.

Payment method is assigned at the supplier site (or invoice level if allowed); the payment process profile then determines payment format, disbursement bank account, and payment instruction grouping.

Distribution sets and automatic offsets (liability, expense, variance accounts) come from the supplier site assignment or the default Payables options; the liability account is required before an invoice can be created.

Approval workflow for invoices is driven by invoice approval rules configured in the BPM worklist, matched to invoice amount ranges and document types; the Payables options determine whether approval is required.

The pay group assigned to a supplier site controls payment priority and is used by payment process profiles to select invoices for a payment run.

Common options include payment terms, pay group, invoice currency, conversion rate type, and default expense account; these defaults flow to new supplier sites and invoices.

Invoice types: Standard, Credit memo, Debit memo, Prepayment, Expense report (from Expenses), and Withholding tax invoices; prepayments must be applied to a standard invoice before they reduce the liability.

Three-way match compares invoice quantity and price to the purchase order and receipt; two-way match compares only to the PO; the match option is set on the PO line or the supplier site default.

Holds are applied by validation: 'Insufficient information', 'Quantity received', 'Amount', 'Distributions', 'Prepayment not applied'; releasing a hold requires the hold to be manually released or resolved by correction.

Invoice lines can be matched to PO lines, PO distributions, or receipts; a line can be unmatched, partially matched, or fully matched, and unmatched lines use the invoice line type to determine the account.

Adjustments on matched invoices (price or quantity corrections) post to variance accounts configured in the invoice tolerance and account rules.

Invoice import uses the Payables Standard Invoice Import interface tables (AP_INVOICES_INTERFACE and AP_INVOICE_LINES_INTERFACE); the import process validates and creates invoices, and rejects are corrected and re-imported.

Withholding tax is calculated on the invoice and creates withholding tax invoices; the tax rate and tax group are assigned at the supplier site or invoice line.

Self-assessed tax and reverse charge tax are configured through tax regimes and tax rates in the tax setup, and the tax is recorded on the invoice distributions.

Payment process profiles define: payment method, disbursement bank account, payment format, payment instruction grouping (by pay group, supplier, or none), and whether payments are automatically confirmed.

Payment run steps: select invoices (build payments), format payments, print/transmit, confirm, and reconcile; a payment can be voided or stopped only before reconciliation.

Payment methods include check, electronic (EFT/wire), and clearing; the payment method on the supplier site determines which payment process profiles can be used.

Payment terms and pay groups drive selection: invoices with a due date within the payment run date range are selected unless the pay-through date and payment terms are overridden.

Disbursement bank accounts are defined in Cash Management and assigned to the payment process profile; the account's payment document determines check numbering and format.

Positive pay files and payment formats are generated by the payment process profile and can be transmitted via Oracle Business Intelligence Publisher (BI Publisher) templates.

Voided payments reverse the payment and re-open the invoice for payment; stopped payments prevent the payment from being issued but do not reverse the accounting until voided.

Payment reconciliation matches the bank statement to payments; unreconciled payments remain in the payment process profile's reconciliation queue and affect cash positioning.

AP balances are derived from invoice distributions and payment distributions; the trial balance for Payables is produced by the period close process and the transfer to General Ledger.

Period close: the Payables period must be closed before the GL period; open items and unposted invoices must be resolved before closing.

Invoice accounting entries: liability credit, expense debit, and tax debit; payment accounting entries: liability debit and cash credit.

The AP aging report buckets open invoices by days past due (e.g., current, 1-30, 31-60, 61-90, over 90) based on the invoice due date and payment terms.

Supplier balance inquiry shows open invoices, prepayments, and payments; the balance is the sum of unpaid invoice amounts less applied prepayments and credits.

Reconciliation of AP to GL uses the Payables to GL reconciliation report; differences arise from unposted invoices, unaccounted payments, and rounding.

Prepayment application reduces the invoice liability; an unapplied prepayment remains as an open item and is reported separately from standard invoices.

Withholding tax and tax distributions affect the AP balance; the tax liability is recorded separately from the supplier liability.

Expense report types (e.g., airfare, meals, mileage) are configured with expense templates that control fields, policies, and accounting; the expense template is assigned to the expense report type.

Expense policies enforce limits (e.g., maximum amount per expense, receipt required above a threshold); violations create policy violations that can be overridden or rejected.

Mileage expense uses a mileage rate schedule; the rate is effective-dated and the distance is entered or calculated from the trip.

Expense reports are approved through BPM workflow; after approval they are transferred to Payables as expense report invoices and paid through the payment process.

Corporate card transactions are imported from the card provider and matched to expense lines; unmatched transactions remain in the card transaction list.

Expense report accounting uses expense account rules and default accounts from the expense template and employee assignment; the liability account is the employee payable account.

Cash advances are applied to expense reports; an advance is an open item until applied, and any excess is returned or offset against the reimbursement.

Per diem and mileage calculations use the expense template's calculation method and the employee's location and trip dates.

Invoice capture uses Oracle Document Understanding/IDP to extract invoice header and line data from scanned or PDF invoices; extracted data is reviewed before creating the invoice.

Duplicate invoice detection compares supplier, invoice number, and amount to flag potential duplicates during invoice entry or import.

Automated invoice approval and routing use BPM worklist rules; machine learning can suggest approval routing based on historical patterns.

Supplier portal and mobile expense capture allow suppliers to submit invoices and employees to capture receipts via mobile; receipt images are attached to expense lines.

Payment automation includes automatic payment run scheduling and automatic reconciliation matching of bank statements to payments.

Anomaly detection flags unusual invoices (e.g., amount outliers) for review; the results are surfaced as holds or review indicators.

Chatbot/conversational interfaces in the Redwood UI surface AP tasks such as invoice status and payment status queries.

AI-assisted tax calculation uses tax determination services to derive tax rates from supplier, product, and location data.

Redwood is Oracle's design system and UX; Redwood-enabled pages are enabled per offering via the Redwood experience opt-in in the Setup and Maintenance functional area.

Redwood pages load as the default for supported tasks once enabled; users can switch back to the classic UI where a toggle is available.

Redwood uses the new navigation (springboard/quick actions) and responsive layouts; personalization is done through the Redwood page composer.

Redwood adoption is controlled by profile options and the 'Redwood experience' feature opt-in; enabling it affects all users in the environment.

Redwood pages may not support all classic features; check the feature availability matrix before enabling for a business unit.

Redwood work area pages include guided processes and inline analytics; the guided process replaces some classic setup steps.

Redwood requires supported browsers (current Chrome, Edge, Safari, Firefox) and does not support Internet Explorer.

Audit and security settings (roles, data access) carry over to Redwood pages; row-level security is enforced the same way as classic pages.