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| Section | Objectives |
|---|---|
| Financial Period Close | - Close Monitoring - Reconciliation - Period-End Close Activities |
| Operational Maintenance | - Data Validation - Troubleshooting - Best Practices |
| Financial Accounting | - Accounting Configuration - General Ledger - Accounting Processes |
| Financial Reporting | - Standard Financial Reports - Report Configuration - Financial Statements |
| Record-to-Report Configuration | - Security and Permissions - Accounting Rules - Business Process Configuration |
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NEW QUESTION # 29
Company A has created an accounting journal to move costs to Company B. The journal is in error status, as there are missing ledger accounts for intercompany payables and receivables.
What should you do?
Answer: B
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
An accounting journal that moves costs between Company A and Company B must balance independently by company. Workday generates intercompany receivable and payable lines to represent the due-from and due-to positions. The ledger accounts for those system-generated lines come from the Intercompany Receivables and Intercompany Payables account posting rules. If either rule lacks a valid default account or matching condition, the journal cannot derive the required ledger account and enters error status.
Bank-account selection on an intercompany profile is relevant to settlement, not to balancing an accounting journal. Maintaining companies as customers or suppliers is required for direct intercompany invoicing but is not the configuration used to derive balancing lines on a manual intercompany accounting journal. Option C is imprecise because separate payables and receivables posting rules must be configured for the intercompany purpose; the explicit requirement in D identifies both controlling rules. The finance administrator should configure valid ledger accounts, applicable dimensions, and resulting affiliate worktags, then reprocess the journal. Correct intercompany posting rules ensure that each company's entry balances and that the reciprocal positions can be reconciled, settled, and eliminated during consolidation.
Official Workday reference: Workday - Setup Considerations: Direct Intercompany Activities; topics: intercompany payables and receivables account posting rules.
NEW QUESTION # 30
Company A and Company B are in the same tenant and are intercompany affiliates. Company A created a customer invoice to record the direct sale of services to Company B. The customer invoice completed successfully, but the corresponding supplier invoice for Company B is in error status.
How will you fix this issue?
Answer: C
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
A direct intercompany customer invoice created by Company A can generate the corresponding supplier-side document for Company B only when the legal entities are correctly represented as customer and supplier business objects. If Company B's associated supplier object is unapproved, Workday cannot complete the supplier invoice even though the originating customer invoice has successfully completed. The supplier invoice therefore enters error status until the supplier setup is approved and valid for use.
Automatic intercompany receipt settings relate to settlement and receipt generation after an intercompany obligation is paid; they do not control whether the supplier invoice is initially generated from the approved customer invoice. Manual payment-type selections likewise affect settlement configuration rather than supplier-document creation. Because the intercompany transaction already initiated successfully, the relationship and invoice-generation service are substantially in place. The failed downstream document points directly to the status of Company B's supplier representation. The administrator should approve or correct the associated supplier object, confirm its company mapping and required item or category relationships, and then resume or reprocess the supplier invoice event. This preserves the linked direct-intercompany document chain and ensures that Company A's receivable and revenue are matched by Company B's payable and expense.
Official Workday reference: Workday - Setup Considerations: Direct Intercompany Activities; topics: direct intercompany invoices and companies maintained as customers or suppliers.
NEW QUESTION # 31
You need to find balances due to several suppliers for multiple periods.
What report will you use?
Answer: C
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
Supplier Activity Summary is the delivered report intended to analyze supplier-account activity and balances across a selected company and period range. It summarizes beginning balances, invoices, adjustments, payments, and ending amounts due, allowing the accountant to compare several suppliers over multiple periods and drill into supporting activity where necessary.
Suppliers by Company identifies supplier relationships but does not provide the required period-based accounts-payable balances. Find Suppliers is a master-data search and is therefore unsuitable for analyzing transaction activity. Find Journal Lines can locate accounting entries, but it requires the user to reconstruct supplier balances from journal detail and may not present the supplier-account lifecycle as efficiently as the purpose-built summary. Supplier Activity Summary is secured through the applicable supplier-account reporting domains, so the user's company access and role constraints still determine which balances are visible. The report provides the appropriate operational view for identifying amounts due, reviewing payment and adjustment movements, and reconciling supplier subledger activity to the general ledger. Consequently, Supplier Activity Summary is the correct report for the stated requirement.
Official Workday reference: Workday Education - Supplier Accounts; topics: Supplier Activity Summary and supplier balances by period.
NEW QUESTION # 32
After running an allocation, what status will the resulting journal(s) be in?
Answer: D
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
Running an allocation creates operational journals in Pro Forma status. This status is intentional because Workday separates allocation calculation and review from final posting. Accountants can examine the calculated source relief, target distributions, worktag mappings, statistical basis, and any intercompany results before the amounts permanently affect the ledger.
Pro Forma journals can be included in financial reporting when reviewers need to assess the anticipated effect of allocations during period close. If the calculation or underlying data is incorrect, the allocation can be rerun or canceled without first unposting a finalized journal. This control supports iterative close processing and allows dependent allocations to be validated in the proper sequence.
The journal becomes Posted only when the allocation is finalized. During finalization, Workday changes the existing operational journal's status from Pro Forma to Posted, after which it is incorporated into normal posted ledger balances. Created is a status associated with journals that have been saved but not submitted and is not the result of running an allocation. In Progress indicates an incomplete business-process workflow rather than the standard allocation journal result.
Accordingly, the immediate journal status following the allocation run is Pro Forma; Posted applies only after successful finalization.
Official Workday reference: Workday Education - Allocations; topics: Run Allocations, Finalize Allocations, and Allocation Processing Steps.
NEW QUESTION # 33
You are creating a new bank account.
What data is required?
Answer: A
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
A Workday bank account must be associated with the organization that owns or controls it and must contain the bank account number that uniquely identifies the account at the financial institution. These elements establish the legal ownership context and the external account identity required for cash processing, settlement, reconciliation, and accounting.
Manager approval may be introduced through the applicable business process, but it is a workflow control rather than foundational account data. Bank routing rules are configured to determine which account Workday selects for particular settlement scenarios; they are not universally required merely to create the account record. Telephone number and institution address belong to bank or branch reference data and do not replace the account's owning organization and account number. Additional configuration normally includes currency, bank or branch, account usage, payment types, account status, reconciliation settings, and ledger-account relationships, depending on the intended use. Nevertheless, the required data identified by the choices is the organization and bank account number. Correct ownership is particularly important because security, available company prompts, accounting, and payment routing derive from the organization associated with the account.
Official Workday reference: Workday - Steps: Set Up Banking; topics: bank-account ownership and bank account number.
NEW QUESTION # 34
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