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Oracle 1Z0-1050-24 Exam | 1Z0-1050-24 Latest Exam Testking - Free PDF of 1Z0-1050-24 Latest Questions Products

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Oracle 1Z0-1050-24 Latest Exam Testking - 100% Pass-Rate 1Z0-1050-24 Latest Questions and Realistic Oracle Payroll Cloud 2024 Implementation Professional Reliable Dumps Pdf

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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

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 3

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 4

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 5

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.

Topic 6

Managing Employee Level Payroll Information: This section measures the expertise of HR Payroll Coordinators in managing employee-specific payroll data. It includes adding element entries, bank account details, and payroll frequency details for employees. Additionally, it covers managing absences, initializing payroll balances, and ensuring accurate costing for individuals.

Topic 7

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.

Oracle Payroll Cloud 2024 Implementation Professional Sample Questions (Q29-Q34):

NEW QUESTION # 29
Your company wants to pay its employees from company bank account A and their third parties from company bank account B.
What is the recommended approach for this?

A. Ensure you run the prepayments process separately for your employees and your third parties.
B. Write a formula to select the correct bank account for employees and third parties.
C. Create two personal payment methods for each of your employees: one for their salary payments and one for their third-party payments.
D. Create one organization payment method with two payment sources and configure the usage for each payment source within the payment method rules table.

Answer: D

NEW QUESTION # 30
Your customer has a business requirement to only allow their employees to create one personal payment method. How should you configure this within the product?

A. It is not possible to implement this type of restriction within the application.
B. Create an information element with an input value to store the maximum number of payment methods allowed.
C. Create a formula to define the maximum number of payment methods allowed, ant attach it to the payroll user interface configuration user defined table.
D. Remove the "Manage Personal Payment Method" privilege from the employee role, so that employees cannot create personal payment methods.

Answer: C

NEW QUESTION # 31
You have a requirement to stop the new entries from being created for an element and to continue the existing entries. How do you achieve this?

A. Delete the element definition and re-create it with a different effective date.
B. End date the element definition.
C. You cannot achieve this requirement because you need to continue the existing element entries.
D. Change the effective date to the required date and select the "Closed for entry" check box.

Answer: D

Explanation:
In Oracle Payroll Cloud, to prevent new entries for an element while allowing existing entries to continue processing, you can modify the element definition by setting an effective date and selecting the "Closed for entry" check box (Option D). This action ensures that no new element entries can be created after the specified date, but existing entries remain active and processable in payroll runs. Option A is incorrect because this requirement is achievable. Option B (end-dating the element) stops all processing, including existing entries, which does not meet the requirement. Option C (deleting and re-creating) is unnecessary and disrupts continuity. Oracle documentation confirms that "Closed for entry" is the intended mechanism for this scenario.

NEW QUESTION # 32
You have an earnings element with the latest entry date as "Last Standard Earning Date" without Proation enabled.
When an employee is terminated in the middle of a pay period, how would the element be processed?

A. The element gets processed with prorated value.
B. The element does not get processed with because it gets end dated before the standard earning date and proratio is not enabled on this element.
C. The element gets processed with zero value and a warning message is displayed.
D. The element gets processed with full value.

Answer: A

NEW QUESTION # 33
Which two statements regarding the relationship between legal entities, legal employers, and payroll statutory units (PSU) are correct? (Choose two.)

A. A legal employer can be associated with multiple PSUs.
B. A legal entity cannot be both a legal employee and a PSU.
C. PSUs are legal entities responsible for payroll tax and social insurance reporting.
D. Legal employers are legal entities responsible for paying workers.

Answer: C,D

NEW QUESTION # 34
......

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