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First-hand Latest 1Z0-1050-24 Study Guide - Oracle Valid 1Z0-1050-24 Dumps Demo: Oracle Payroll Cloud 2024 Implementation Professional

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Oracle 1Z0-1050-24 Exam Syllabus Topics:

Topic
Details

Topic 1

Maintaining Payroll Flows: This section is designed for Payroll Managers and focuses on maintaining and submitting payroll flows. It ensures that payroll processes are executed smoothly and efficiently, from data entry to final payroll submission. This section is critical for ensuring timely and accurate payroll processing.

Topic 2

Defining Earnings and Deductions: This section measures the skills of Compensation Analysts in creating and managing earnings and deduction elements. It covers the behavior of elements, creating element entry business rules, and configuring absence elements. Additionally, it includes adding eligibility rules for elements and creating rules for retroactive changes, ensuring accurate and timely payroll processing.

Topic 3

Defining Payroll Costing Rules: This section evaluates the skills of Cost Accountants in setting up payroll costing rules. It includes configuring the Payroll Cost Flexfield, setting up various types of costing, and transferring data to subledger accounting for posting to the general ledger. These tasks ensure accurate financial reporting and cost allocation.

Topic 4

Configuring Payroll and Balance Definitions: This section evaluates the expertise of Payroll Analysts in setting up and managing payroll definitions and balance definitions. It includes configuring payroll definitions, editing payment dates, and ensuring accurate balance calculations. These tasks are critical for maintaining payroll accuracy and compliance with organizational and legal requirements.

Topic 5

Configuring Payroll Payment Details: This section is designed for Payroll Administrators and focuses on setting up payment details for employees and third parties. It includes adding company payment details, configuring payslip reports, and ensuring accurate payment processing. These tasks are essential for delivering accurate and timely payments to employees and external entities.

Topic 6

Describing Payroll Concepts: This section of the exam measures the skills of Payroll Specialists and covers foundational payroll concepts, including human resources and payroll person models. It also explains legislative data groups and payroll statutory units, which are essential for managing compliance and organizational structures. Additionally, this section includes creating payroll users and roles to ensure proper access and security within the payroll system.

Topic 7

Calculating, Validating, and Correcting Payroll Processes: This section evaluates the skills of Payroll Auditors in calculating, verifying, and correcting payroll processes. It includes confirming the status of payroll flows, verifying costing results, and reconciling payroll data. These tasks are essential for ensuring payroll accuracy and compliance with organizational and legal standards.

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Oracle Payroll Cloud 2024 Implementation Professional Sample Questions (Q67-Q72):

NEW QUESTION # 67
You need to associate a worker to your customer's weekly payroll but the payroll field only displays values for the monthly and by-weekly payrolls.
Which two issues are the source of problem? (Choose two.)

A. Your data role does not include a payroll security profile that includes the weekly payroll.
B. The weekly payroll has not been created in the worker's legislative data group.
C. The weekly payroll has not been enabled for the worker's PSU.
D. You do not have the Manage Payroll Definition duty role.

Answer: A,D

NEW QUESTION # 68
Your customer's requirement is to pay employees within each of their three business units from a different bank account. Which three setup steps should you complete? (Choose three.)

A. Write a formula to retrieve the employees business unit details.
B. Create three organization payment methods each with a different payment source.
C. Create a Default Payer Element with a Payment Criteria input value.
D. Create one organization payment method with three payments sources and define three payment method rules based on each business unit.

Answer: B,C,D

NEW QUESTION # 69
You hire an employee on 01-JAN-2016. The employee is in the process of moving bank accounts and is yet to create a personal payment method. How will the employee receive their payroll payment for the month of January?

A. A cash payment request will be sent to accounts payable, and the employee will be paid in cash.
B. They won't receive payment until they have created a personal payment method.
C. The payment process will error and they will not receive payment for the month of January.
D. They will be paid by check, because this is the default payment method on the employee's payroll.

Answer: D

NEW QUESTION # 70
Which two delivered reports can be used to view the results of a payroll run immediately after running the Calculate Payroll process? (Choose two.)

A. Payroll Balance Report
B. Payroll Register Report
C. Payment Register Report
D. Payroll Activity Report

Answer: A,D

NEW QUESTION # 71
A customer's organization has three Business Units - BU1, BU2, and BU3. You have an Onsite Allowance element, which is at Assignment level, for which only the employees in BU2 and BU3 are eligible. How do you define the element eligibility for the Onsite Allowance element so that the element entry is restricted only for BU2 and BU3?

A. Onsite Allowance element should be defined as the Payroll Relationship level element so that the element eligibility can be defined using Business Unit as the criteria
B. Define the element eligibility as an Open Eligibility and create an element entry only for employees with BU2 and BU3
C. Define multiple element eligibilities using BU2 and BU3 for Business Unit criteria
D. You cannot meet the requirement as you cannot create element eligibility using business unit as the eligibility criteria

Answer: C

Explanation:
Comprehensive and Detailed in Depth Explanation:
In Oracle Payroll Cloud, element eligibility can be defined using Business Unit as a criterion for an assignment-level element like Onsite Allowance. The correct approach is to create multiple eligibility records-one for BU2 and one for BU3-specifying the Business Unit in the eligibility criteria. Option A is incorrect, as Business Unit is a supported criterion. Option C (Open Eligibility) bypasses automatic restriction, requiring manual entry, and Option D (Payroll Relationship level) is unnecessary and misaligned with the assignment-level requirement. This is covered in the "Element Eligibility" section.

NEW QUESTION # 72
......

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Chris Fisher Chris Fisher

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