Get real 1Z0-1055-23 exam questions for better preparation

When submitting the Payables to General Ledger Reconciliation report, the extract did not select any dat a. What should you check?

• A. Make sure you specified a Business Unit in the parameters when running the extract.
• B. Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values.
• C. Make sure you assign an Account parameter when running the extract to include liability accounts.
• D. Make sure you enabled the Reconciliation flag to all of your liability natural account values.

Explanation: Only visible for itPass4sure members. You can sign-up / login (it's free).

You are resolving payment validation errors during the payment build process. Which two actions can you perform to resolve these errors?

• A. Remove the documents or payments causing the error and resume the payment process.
• B. Terminate the payment process request.
• C. Correct the setup errors for remittance bank accounts, third party payees, payment methods, or payment formats and submit resume payment process.
• D. Run the invoice validation program.
• E. Run the create accounting program.

Explanation: Only visible for itPass4sure members. You can sign-up / login (it's free).

The Government has introduced a new reduced tax recovery rate for certain services. You need to amend the configuration for your current tax regime to reflect this change.
Which three setups will you need to complete? (Choose three.)

• A. Setup Determining Factor and Condition Sets
• B. Setup a new tax rate
• C. Setup a new status
• D. Setup a new recovery rate
• E. Setup a new tax rule
• F. Setup a new tax

Explanation: Only visible for itPass4sure members. You can sign-up / login (it's free).

You have an invoice for $200 USD and a credit memo for $225 USD. In other words, the credit amount exceeds the invoice amount. If you enable the option to apply credits up to zero amount payment, then how will the invoice and credit memo be paid?

• A. Both the invoice and the credit memo are selected and the Payment Process Request requires attention.
• B. Neither the invoice nor the credit memo are included in the payment process request because the credit reduces the payment amount below zero.
• C. Both the invoice and the credit memo are paid and a refund of $25 USD is created.
• D. Both the invoice and credit memo are included in the payment process request for a payment amount of $0 USD. The credit memo is partially paid with a remaining credit of $25 USD.

Explanation: Only visible for itPass4sure members. You can sign-up / login (it's free).

Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?

• A. Define a Tax Status and Rate for Exempt, define a Party Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Party Fiscal Classification.
• B. Enable the relevant suppliers for Offset Tax and create an Offset Tax to remove the calculated tax line from these suppliers.
• C. Define a Tax Status and Rate for Exempt, define a Supplier Fiscal Classification of Exempt, assign it to the relevant suppliers, and write a rule to incorporate the exempt Supplier Fiscal Classification.
• D. Create a new Tax Regime for the Exempt tax and subscribe the exempt suppliers to the tax regime on the Configuration Options tab.