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2021 Aug 1Z0-573 exam topics

Q1. To turn on the budget pre-check capability for Vouchers you must enable it on which page?

A. Installation Options (Payables Tab)

Set Up Financials/Supply Chain>Install>Installation Options

B. Installation Options (Commitment Control Tab)

Set Up Financials/Supply Chain>Install>Installation Options

C. Payables Definition (Definition Tab)

Set Up Financials/Supply Chain>Business Unit Related>Payables>Payables Definition

D. Payables Options (Payables Options tab)

Set Up Financials/Supply Chain>Business Unit Related>Payables>Payables Options

E. Voucher Origin (Vouchering Options 1 tab)

Set Up Financials/Supply Chain>Product Related>Procurement Options>Vouchers>Voucher Origin

Answer: B

Q2. Which action will you perform to restrict a user so that he/she can only enter vouchers in control groups?

A. Enable the feature in the user profile.

B. Restrict access through the use of row-level security.

C. Enable the feature in the user preferences.

D. Only grant page-level access to the Control Group Voucher Entry page.

Answer: C

Explanation: Reference:


Q3. A customer has decided to use the Express Payment feature to pay credit and debit vouchers having different vendors in a single pay cycle using the ACH payment method. The Pay File is generated and tagged to a new step group through a custom process. What are two reasons this will not work?

A. Express payment feature cannot be used for ACH payments.

B. Step group cannot be chosen for express pay cycles.

C. Multiple vendors cannot be paid in a single pay cycle run using the Express Payment feature.

D. Express payment can only record a payment but cannot generate any kind of pay file.

E. Credit vouchers will not be considered by the payment selection process in express pay cycles.

Answer: B,D

Q4. Which two payment review pages have Pay cycle drilldown?

A. Prepayments

B. Detail Data

C. Summary Metric

D. Summary Data

E. Payment

Answer: A,E

Q5. What step is mandatory when creating pay cycles using the Payment Selection Criteria component?

A. Define bank replacement rules.

B. Set up banks and bank accounts.

C. Set up vendor pay groups.

D. Set up netting reference codes and exclusion parameters.

E. Tailor your pay cycle definition.

Answer: D


Updated 1Z0-573 practice exam:

Q6. All the following settings are “Optional” when entering vendors into the PeopleSoft application. The only exception is .

A. Set financial sanctions options using the Installation Options component

B. Define pay group codes

C. Define government certifications

D. Define ship-to-locations

E. Set up matching options

Answer: A

Q7. Which three Document Association groups are delivered by PeopleSoft?

A. Voucher-PO (VP)

B. Voucher-Receiver (VR)

C. Voucher-PO-Receiver (VPR)

D. PO-Receiver (PR)

E. Req-PO-Voucher (RPV)

Answer: A,C,D

Q8. What are the two required fields to create a personalized search on Matching Workbench?

A. Match Due Date

B. Match Status

C. Voucher ID

D. Business Unit

E. Origin

Answer: B,D

Q9. When is a registered voucher entered?

A. An organization receives multiple similar invoices from a vendor

B. A company wants to pay a rebate or refund to a one-time vendor

C. The accounting distribution is unknown

D. Invoices received from vendors contain charges other than merchandise charges

E. An organization purchases goods or services without generating a purchase order

Answer: B

Explanation: Reference:


Q10. Which three statements are true about voucher payments?

A. Manual payments cannot be cancelled.

B. Payments cancelled with the “Void” option get reconciled automatically.

C. The reference ID for a voucher payment is derived from “Last Ref Number” defined at the bank account – payment method level.

D. Payment for a prepaid voucher cannot be recorded manually.

E. Payment cancellation can be undone as long as the payment posting is not run.

Answer: A,C,D