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| Section | Objectives |
|---|---|
| Advanced Accounting Tasks | - Data integrity and accounting tools
|
| Core Workday Financial Management Functionality | - Workday Financial Management system functionality
|
| Financial Accounting and Period Close Configuration | - Accounting configuration and maintenance
|
| Financial Close and Reporting | - Close process execution
|
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NEW QUESTION # 43
At month-end, during the account certification process, a company would like certain ledger accounts prepared, reviewed, and certified by specific users.
What form of configuration do they need for this?
Answer: C
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
An Account Certification Set groups the ledger accounts and organizational scope that will be certified and provides the role-assignment context for the certification process. Assigning the appropriate preparer, reviewer, and certifier roles on the Account Certification Set ensures that Workday routes the selected accounts to the designated users when the month-end certification is generated.
Policy, Purpose, and Procedure document the expected control but do not determine who receives each workflow responsibility. Company-level role assignments are too broad when different ledger accounts require different certification participants. User-based security can grant access to certification functionality, yet access alone does not assign responsibility for a particular certification population. The Account Certification Set is the correct level because it connects the defined account scope with the accountable users and business-process routing. Administrators should also validate certification rules, frequency, due dates, materiality, supporting-document requirements, and escalation behavior. At period close, generated certifications then follow a repeatable chain of preparation, review, and final certification, with status reporting and evidence retained for audit. Therefore, Role Assignments on the Account Certification Set provide the required configuration.
Official Workday reference: Workday Education - Account Certifications; topics: account certification sets and role assignments.
NEW QUESTION # 44
A company wants to allocate costs from operating expenses ledger accounts with a cost center of Facilities and a location of Chicago. When the current allocation definition is run, all costs posted to the operating expenses ledger accounts are being allocated regardless of cost center or location.
What should you do?
Answer: B
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
The allocation source defines the ledger activity that forms the pool to be allocated. Because the requirement is limited to operating-expense activity carrying Cost Center Facilities and Location Chicago, both worktag criteria must be added to the Source section as source filter conditions. Workday will then include only journal activity satisfying the ledger-account criteria and the specified worktags.
Adding the worktags to the statistical definition would change the allocation basis rather than restrict the source pool. The basis determines how the selected amount is distributed, such as by square footage, headcount, ledger activity, or fixed percentage. The Target controls where allocated amounts are recorded, and the Offset determines how the source pool is relieved. Neither target nor offset filtering can correct an overinclusive source calculation. Source worktags of different types are evaluated together, so Facilities and Chicago form the required combined restriction. After updating the definition, the accountant should test the allocation and verify that the source total reconciles to the intended operating-expense lines before running it. Therefore, adding Cost Center and Location to the Source is the technically correct solution.
Official Workday reference: Workday Education - Allocations; topics: allocation source filters and worktag conditions.
NEW QUESTION # 45
What task will you use to specify a bank account's usage?
Answer: B
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
Bank-account usage is maintained directly on the bank account through Edit Bank Account. The usage values identify the business processes for which the account is eligible, such as supplier payments, customer receipts, payroll payments, expense payments, ad hoc transactions, or other settlement activities. Workday uses these selections to restrict prompts and ensure that settlement processes choose accounts authorized for the required purpose.
Set Up New Bank Account is not the delivered maintenance task named in the choices, and a separately named Define Bank Account Usage task is not required. Modify Bank Account Information is also not the applicable Workday task. After accessing Edit Bank Account, the administrator can maintain primary or additional usage, accepted payment types and currencies, settlement integration details, reconciliation settings, and other controls permitted by security. Usage must be designed with bank-routing rules and company settlement requirements because selecting a usage does not automatically make the account the default for every transaction. The account must also remain active and available to the owning organization. Consequently, Edit Bank Account is the correct task for specifying or changing how the bank account may be used.
Official Workday reference: Workday - Steps: Set Up Banking; topics: Edit Bank Account and bank-account usage.
NEW QUESTION # 46
What does the Taxable field indicate when you set up a customer in Workday?
Answer: C
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
The Taxable field identifies whether the customer is generally subject to sales or transaction tax processing. When enabled, Workday can apply the configured tax applicability, tax codes, rates, exemptions, and jurisdiction rules to eligible customer invoice lines. The field is part of customer tax setup and influences transaction-tax determination rather than serving as an informational tax identifier.
Property-tax exemption is unrelated to customer invoice transaction-tax processing. The customer's tax ID is maintained in separate tax-identification fields, and tax filing status is not the purpose of the Taxable indicator. A taxable customer can still have transaction-specific exemptions or tax rules, so the field should be interpreted together with exemption certificates, ship-to or bill-to jurisdiction, taxable items, and tax applicability configuration. Conversely, clearing the field can prevent ordinary sales-tax calculation when the customer is not subject to tax under the organization's design. Administrators must maintain the value consistently because it affects invoicing, tax reporting, and reconciliation. Therefore, the Taxable field indicates whether the customer is subject to sales tax, making option A correct.
Official Workday reference: Workday - Setup Considerations: Transaction Taxes; topics: customer taxability and transaction-tax calculation.
NEW QUESTION # 47
After an acquisition, a new legal entity needs to be set up.
What should you create?
Answer: C
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
A newly acquired legal entity that will maintain its own statutory books must be represented in Workday as a Company organization. Company is the financial organization type that owns accounting transactions, ledgers, fiscal schedules, currencies, account sets, bank accounts, tax registrations, and financial reporting responsibility. It supplies the legal-entity boundary required for transaction processing and statutory reporting.
A cost center represents managerial responsibility or an area in which costs are accumulated; it does not create a separate legal accounting entity. Worktags can classify transactions and support reporting, but they do not own a ledger or replace the Company organization. A reorganization is used to change relationships or assignments among existing organizations and is not the prerequisite for establishing the acquired legal entity. After creating the Company, administrators assign its accounting details, establish the actuals ledger and periods, configure security roles, and connect it to the appropriate company hierarchy for consolidated reporting. The company may then participate in intercompany profiles, settlements, translations, and consolidations. Creating a Company organization is therefore the first structural action that correctly represents the acquisition in Workday's Foundational Data Model and establishes the boundary within which the new entity's financial transactions will be recorded.
Official Workday reference: Workday Education - Financial Accounting Setup; topics: company organization and legal-entity financial accounting setup.
NEW QUESTION # 48
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