Online Access Free 1Z0-1050-21 Practice Test

You have requirement to review the journal entries before sending to general ledger. How do you achieve this before you do final posting to GL?
Response:

• A.Create accounting related task in the draft mode
• B.Run payroll costing report
• C.Create accounting related task after the final posting

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?
Response:

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

Your customer pays their workers on a semi-monthly payroll frequency. To save costs, the customer is changing their company policy and effective from 1st January, all workers will be paid on a monthly payroll frequency.
What action should you take to implement this change?
Response:

• A.Navigate to the semi-monthly payroll and update the Start and End Dates on the payroll time periods to reflect the new monthly payroll period dates.
• B.Create a new monthly payroll definition and transfer the workers from the semimonthly payroll to the monthly payroll.
• C.Create a new monthly payroll definition, and date the workers employment records associated with the semi-monthly payroll, create new employment records for the workers and associate these to the monthly payroll.
• D.Navigate to the semi-monthly payroll and update the Date Paid field on the payroll time periods to reflect the new monthly payment dates.

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.)
Response:

• A.Create one organization payment method with three payments sources and define three payment method rules based on each business unit.
• 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.Write a formula to retrieve the employees business unit details.

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?
Response:

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