Training institutions have their place — but for most office workers, classes are expensive and time-consuming. TestValid's 1z0-1056-23 question bank is the practical alternative: spare-time practice with expert-verified answers across the Oracle Financials Cloud: Receivables 2023 Implementation Professional syllabus.
Oracle 1z0-1056-23 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: Receivables 2023 Implementation Professional |
| Exam Number: | 1Z0-1056-23 |
| Real Exam Qty: | 50-60 |
| Exam Price: | USD 245 |
| Certificate Validity Period: | 18 months |
| Exam Duration: | 120 minutes |
| Related Certifications: | Oracle Receivables Cloud Certification Oracle ERP Cloud Financials Implementation Oracle Financials Cloud Certification |
| Exam Format: | Multiple Response, Multiple Choice |
| Passing Score: | Approximately 60-65% |
| Available Languages: | English |
| Recommended Training: | Oracle Financials Cloud Receivables Training |
| Exam Registration: | Pearson VUE Oracle Exams Oracle Certification Registration |
| Sample Questions: |  |
| Exam Way: | Online proctored exam via Pearson VUE or Oracle testing platforms |
| Pre Condition: | Basic knowledge of Oracle Financials Cloud and Accounts Receivable processes is recommended. Training in Oracle Financials Cloud Receivables is strongly advised. |
| Official Syllabus URL: | https://education.oracle.com |
Oracle 1z0-1056-23 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Receivables Setup and Configuration | - Enterprise Structures for Receivables - Customer and Account Setup - Receivables System Options and Setup Tasks |
| Topic 2: Payments and Cash Management | - Applied Receipts and Clearing - Receipt Processing - Refunds and Unapplied Cash |
| Topic 3: Transaction Management | - Transaction Adjustments and Reversals - Revenue Management Integration - Invoice and Credit Memo Processing |
| Topic 4: Collections and Aging | - Aging and Dunning Management - Collections Strategies |
| Topic 5: Accounting and Integration | - Subledger Accounting for Receivables - General Ledger Integration - Reporting and Reconciliation |
Practical Answers for Oracle Financials Cloud: Receivables 2023 Implementation Professional Candidates
At present, the 1z0-1056-23 exam requires a passing score of Approximately 60-65% and costs USD 245 to register. Oracle controls both figures, so confirm them on the official site before you book.
The latest exam information lists 50-60 questions for the 1z0-1056-23 exam, to be completed in 120 minutes minutes. Rehearsing under these conditions in the online engine is the closest thing to sitting the real test.
The Oracle Financials Cloud: Receivables 2023 Implementation Professional blueprint is organized into these principal domains:
- Collections and Aging
- Receivables Setup and Configuration
- Transaction Management
Additional domains follow in the full official outline, and our bank spans them all.
Oracle recommends these official training options:
If formal classes fit your budget and calendar they add structure; otherwise, disciplined self-practice with a current bank covers the same ground.
A team of professional IT experts and certified trainers who focus on this exam field — and who keep the 1z0-1056-23 bank under constant updating so every candidate prepares smoothly. Every answer is expert-verified, and you can check the accuracy yourself with a free demo before buying. The online test engine deserves special mention: it simulates the actual test environment, supports Windows, Mac, Android, and iOS, carries no installation limits, and lets you practice without limits of time or location — a smooth preparation process for office workers who cannot attend classes.
Upon successful payment, our system automatically sends the product to your mailbox — typically within about a minute — with an instant download link on screen. If nothing arrives within two hours, check your spam folder and contact support. Once purchased, updates are free for 365 days: whenever a new version is released, the updated 1z0-1056-23 bank is sent to your email immediately. A 50% renewal discount applies after the period ends.
Oracle specifies the following prerequisites for the Oracle Financials Cloud: Receivables 2023 Implementation Professional: Basic knowledge of Oracle Financials Cloud and Accounts Receivable processes is recommended. Training in Oracle Financials Cloud Receivables is strongly advised..
Verify the details on the official certification page before registering.
Documented and honored. If you fail the corresponding exam within 60 days of purchase, send a scanned copy of your enrollment slip and your official Score Report PDF within two days of the exam date; verified claims are refunded in full within seven days. Exclusions: exams taken within three days of purchase, candidate names that differ from the payer, and free or expired products. If you have another exam in mind, you can instead exchange your product for two others of equal value at no charge.
Registration runs through the official channels below:
Choose a test center or online appointment, and book early to keep your preparation timeline comfortable.
Oracle Financials Cloud: Receivables 2023 Implementation Professional Sample Questions:
Your organization has decided to use the Portal Upload delivery method for some of their customers. You will be using this in place of other options, such as Print Email, or XML to deliver customer invoices.
Which step must be performed in the system to deliver transactions to your customers by using the Portal Upload method?
- A. Create a custom preferred delivery method in the Manage Receivables Lookups task in Functional Setup Manager.
- B. Create a custom-preferred delivery method in the Manage Receivables System Options task in Functional Setup Manager.
- C. Run the Create Customer Statement process in Scheduled Processes.
- D. Select Portal Upload as a delivery method on Customer Profile under Statement and Dunning.
- E. Select Portal Upload as a delivery method on Customer Profile under Invoicing.
Correct Answer: E 🗳️
Explanation: Only visible for TestValid members. You can sign-up / login (it's free).
Manage Balance Forward Billing Cycles and Payment Terms
Scenario
You are a consultant for a client who is implementing the Balance Forward Billing feature in Oracle Financials Cloud. You have been asked to define Balance Forward Billing Cycle as well as Balance Forward Billing Payment Terms so that your client can generate consolidated bills.
Task:
Define Balance Forward Payment Terms, where:
* Name of the payment term is XXNet 30 (Replace XX with 03, which is your allocated user ID.)
* Payment terms are accessible to all business units
* Discounts are applicable to the full invoice amount
* Discounts are applicable even when the customer does not send a full payment
* Payment terms are effective as of January 1. 2023
Correct Answer:
See the explanation below for solution.
Explanation
* Log in to Oracle Financials Cloud.
* Click on the Payment Terms icon in the Receivables work area.
* Click on the Create button.
* In the Payment Terms window, enter the following information:
* Name: XXNet 30 (Replace XX with your allocated user ID.)
* Description: Net 30 payment terms
* Billing Cycle: All Cycles
* Due Date: Next Business Day
* Discount Days: 30
* Discount Amount: 2%
* Discount Type: Percentage
* Discount Allowed: Yes
* Discount Allowed Even If Partial Payment: Yes
* Effective Date: January 1, 2023
* Click on the Save button.
The new balance forward payment terms will be created.
To make the payment terms accessible to all business units:
* Click on the Business Units tab.
* Select the check box next to All Business Units.
* Click on the Save button.
The payment terms will now be accessible to all business units.
Which three receipt types can be reversed in the Cloud?
- A. Receipts applied to open receipts
- B. Receipts that are archived
- C. Credit card chargebacks posted to GL
- D. Invoice-related receipts
- E. Miscellaneous receipts
Correct Answer: C,D,E 🗳️
Explanation: Only visible for TestValid members. You can sign-up / login (it's free).
When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition.
Which two statements are true when you consider that recognition depends on the nature of the contingency?
- A. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
- B. Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet.
- C. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
- D. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
- E. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
Correct Answer: C,D 🗳️
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