- Exam Code: 1z0-1056-23
- Exam Name: Oracle Financials Cloud: Receivables 2023 Implementation Professional
- Updated: Nov 01, 2026
- Q & A: 34 Questions and Answers
Oracle 1z0-1056-23 actual dump : Oracle Financials Cloud: Receivables 2023 Implementation Professional
PDF Version DemoAbout Oracle 1z0-1056-23 Exam Questions
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Oracle 1z0-1056-23 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Configuring Customer Billing | 22% | - Manage AutoInvoice and AutoAccounting - Set Up Sales Credits and Revenue Recognition - Define Transaction Types, Sources, Items and Memo Lines |
| Managing Customer Billing | 18% | - Correct and Manage AutoInvoice Errors - Calculate Tax and Print Transactions - Create and Process Transactions |
| Processing Customer Payments | 12% | - Create and Apply Receipts - Resolve Receipt Exceptions - Process Bills Receivables and Remittances |
| Configuring Bill Management | 5% | - Configure and Use Oracle Bill Management |
| Configuring and Using Advanced Collections | 5% | - Set Up Collections Framework - Define Scoring Strategies and Work Queues |
| Configuring Customer Payments | 15% | - Configure Automatic Receipts and Funds Capture - Set Up Receipt Methods and Lockbox |
| Reporting and Reconciliation | 3% | - Perform Receivables Reconciliation - Use OTBI and BI Publisher for Reporting |
| Configuring Common Receivables | 20% | - Configure and Import Customers - Configure Receivables Using Rapid Implementation - Configure Receivables System Options - Configure Tax and Subledger Accounting - Configure Cash Management and Application Integration |
1z0-1056-23 Exam FAQ: Save Time, Read This
Oracle Financials Cloud: Receivables 2023 Implementation Professional is an official Oracle certification exam, listed under the code 1z0-1056-23. Passing it earns the Oracle Financials Cloud: Receivables 2023 Implementation Professional certification at the Professional level. It also ties into Oracle Fusion Cloud Financials: Receivables and Collections 2025 Implementation Professional, Oracle Financials Cloud 2023 Implementation Professional. In an era of lifelong learning, this credential is one of the most efficient ways to prove your skills keep pace.
Oracle Financials Cloud: Receivables 2023 Implementation Professional gives you 32-36 questions across 90 minutes. The efficient approach: one to two hours of daily timed practice in the Actual4Dumps engine builds both the knowledge and the pacing, so exam day feels like simply another well-run session.
Passing Oracle Financials Cloud: Receivables 2023 Implementation Professional takes 68%, and the official registration fee is $245 - $250 USD. Retakes cost the full $245 - $250 USD again, so treat your Actual4Dumps practice scores as the decision-maker: book when the passing line sits below your everyday results, not your best ones.
The Oracle Financials Cloud: Receivables 2023 Implementation Professional syllabus is organized into 8 domains, led by Processing Customer Payments (12%), Configuring and Using Advanced Collections (5%), and Reporting and Reconciliation (3%). The complete breakdown is above on this page; it is the fastest way to learn where your limited preparation hours belong.
No mandatory prerequisites; Oracle recommends 6-12 months hands-on implementation experience and completion of relevant training
Vendor policies are revised periodically, so verify the current requirements before registering via the official exam page.
Registration for Oracle Financials Cloud: Receivables 2023 Implementation Professional goes through the official channels below.
For planning: the exam is delivered Online proctored or onsite at Pearson VUE authorized testing centers.
Oracle recommends the following training for Oracle Financials Cloud: Receivables 2023 Implementation Professional candidates.
Follow any training with daily practice on the 34 questions in the Actual4Dumps 1z0-1056-23 package; sorted by authorized expert groups, they turn course theory into exam-ready skill.
Yes on both counts. Download the free demo of the Oracle Financials Cloud: Receivables 2023 Implementation Professional questions first, and browse the comments written by former customers for a second opinion. After purchase, new versions are sent to you as soon as they release, free for 365 days; after expiry, extending the update service costs 50% of the regular price.
Worry-free means a 100% money-back guarantee with stated conditions. Take the Oracle Financials Cloud: Receivables 2023 Implementation Professional exam within 60 days of purchase; if you fail, you may claim a full refund, provided the exam matches your product. Attempts within 3 days of purchase are ineligible, as are downloaded-but-unused products, free materials, and expired orders; the candidate name must match the payer name. Submit a scanned enrollment slip and the official Score Report PDF within 2 days of the exam, and claims are processed within 7 days. Alternatively, exchange for two other exam products of equal value, free, keeping the update service on your original purchase.
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Oracle Financials Cloud: Receivables 2023 Implementation Professional Sample Questions:
Question #1
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.
Question #2
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
Correct Answer:
See the explanation below for solution.
Explanation
* Log in to Oracle Financials Cloud.
* Click on the Aging Methods icon in the Receivables work area.
* Click on the Create button.
* In the Aging Method window, enter the following information:
* Name: XXAging Method (Replace XX with your allocated user ID.)
* Description: Custom aging method for reporting purposes.
* Aging Buckets:
* 1: 0 to 45 days
* 2: 46 to 90 days
* 3: 91 to 135 days
* 4: 136 to 180 days
* Last Bucket: 181 days
* Available to All Business Units: Yes
* Click on the Save button.
The new aging method will be created.
Question #3
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. 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.
- B. Time-based contingencies must not expire before the contingency can be removed and revenue recognized.
- C. 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.
- D. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized.
- E. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
Correct Answer: D,E 🗳️
Explanation: Only visible for Actual4Dumps members. You can sign-up / login (it's free).
Question #4
You defined a Payment Terms Threshold Policy to defer revenue recognition of 120 days. An invoice is imported with split Payment Terms, consisting of the following five installments:
What revenue amount would be deferred on this Imported Invoice?
- A. 2000
- B. 5000
- C. 3000
- D. 1000
- E. 4000
Correct Answer: B 🗳️
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