Oracle Financials Cloud: Receivables 2023 Implementation Professional 1z0-1056-23 Exam Questions with Experts Answers Updated Recently

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.)

Manage Aging Methods

Scenario

Your organization needs to create their own a-bucket aging method for reporting purposes.

Task

Create a new 4-bucket Aging Method in the Collections application, where:

• Name Of the aging method is XXAging Method (Replace XX with 03, which is your allocated User ID.)
• Aging method is accessible to all business units
• Aging buckets are 45 days apart
• Last bucket is 91 days

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:

Define Remittance Bank Account where:

• Bank Account is associated with Receipt Method

• Primary bank account is linked the Denver branch of Bank of America
• Bank account number ends with 2870

• Remittance bank account is effective as of January 1, 2023
• GL Accounts section must contain the values below for company segment 120 Supremo Fitness

Upon approval of a remittance batch of type Factored with Recourse, the Receivables application creates a receipt and establishes risk.

How does Receivables establish risk?