Online Access Free 1z0-1056-23 Exam Questions

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?

• A.By creating an on-account credit memo
• B.By recording short-term debt
• C.By recording an entry to the Remitted Bills Receivable account
• D.By generating a bills receivables adjustment

Which three receipt types can be reversed in the Cloud?

• A.Receipts that are archived
• B.Receipts applied to open receipts
• C.Miscellaneous receipts
• D.Credit card chargebacks posted to GL
• E.Invoice-related receipts

In Collections, strategies can be executed based on the wait times defined on a strategy task. When the feature is enabled, you can also assign wait times for strategies based on their transaction type. Which condition must be set for the transaction level when defining a new strategy task by transaction type?

• A.DaysLate
• B.Time
• C.Days Early
• D.Not Applicable

After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.
What are three results of this action?

• A.The invoice is sent for a dunning follow-up.
• B.The invoice can now be printed.
• C.The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.
• D.The invoice is eligible for transfer to the General Ledger.
• E.The payment schedules are created using the payment terms specified.

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