Oracle 1z0-1054-22 Exam With Confidence Using Practice Dumps

According to Oracle documentation1, a more automated approach to reconcile intercompany payables and receivables accounts is to run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance. This report is automatically generated when you run the Prepare Intercompany Reconciliation Information process. You can drill down on the report to view the balances by source and by journal lines. Therefore, option D is correct. Option A is incorrect because Oracle Hyperion Close Manager is not a tool for reconciling intercompany account balances. Option B is incorrect because you don’t need to manually reconcile your intercompany account balances in Financials Cloud. Option C is incorrect because the BI Publisher reports called Intercompany Transaction Summary and Account Details are not designed to reconcile intercompany balances. Option E is incorrect because creating a query using Oracle Transactional Business Intelligence (OTBI) is not a more automated approach to reconcile intercompany payables and receivables accounts.

To configure the Intercompany Provider and Receiver distribution accounts to be created automatically for all intercompany transactions, you should configure the intercompany transaction type default accounts. Intercompany transaction types define the default accounts for intercompany receivables and payables for each combination of provider and receiver business units. You can also specify other attributes such as tax classification codes, payment terms, and invoice options for intercompany transactions. You do not need to configure a Provider and Receiver distribution set, as this is not a supported option. You do not need to configure the AutoAccounting Definition, as this is a feature that determines how revenue and receivable accounts are derived for Receivables transactions. You do not need to configure the Transaction Account Definition, as this is a feature that determines how subledger journal entry accounts are derived for subledger transactions. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure and Process Intercompany 1

According to Oracle documentation2, you should define the default intercompany balancing rule at the chart of accounts level when you have three ledgers that use the same chart of accounts with one intercompany payable and one intercompany receivable account. The chart of accounts level rule applies to all ledgers that share the same chart of accounts. Intercompany balancing rules are used to generate the accounts required to balance journals that are out of balance by legal entity or primary balancing segment values. Therefore, option B is correct. Option A is incorrect because the primary balancing segment level rule applies only to journals that are out of balance by primary balancing segment values within a ledger. Option C is incorrect because the legal entity level rule applies only to journals that are out of balance by legal entity within a ledger. Option D is incorrect because the ledger level rule applies only to journals that are out of balance by ledger.