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| Section | Objectives |
|---|---|
| Topic 1: Core Workday Financial Management Functionality | - Workday Financial Management system functionality
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| Topic 2: Financial Accounting and Period Close Configuration | - Accounting configuration and maintenance
|
| Topic 3: Advanced Accounting Tasks | - Journal Processing
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| Topic 4: Financial Close and Reporting | - Financial Reporting
|
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NEW QUESTION # 24
What does the Taxable field indicate when you set up a customer in Workday?
Answer: B
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 # 25
When can you view the accounting for a supplier invoice transaction?
Answer: B
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
Workday can generate and display provisional accounting after the supplier invoice is submitted, even while the Supplier Invoice Event remains In Progress. The user can access the transaction's related accounting to review the ledger accounts, amounts, taxes, worktags, and balancing entries that the configured account posting rules derive. This early visibility supports review and approval before the invoice completes.
Waiting for final approval or Posted status is unnecessary for viewing the generated accounting. Those later states determine completion and ledger inclusion, not the first point at which derived accounting can be examined. Option C is overly broad because accounting is not necessarily available at every point; a document that has not been submitted may not yet have generated the operational journal representation. Once submitted, the accounting can be inspected and errors or unexpected derivations can be identified while the workflow is still active. If configuration changes or transaction revisions occur, Workday may regenerate the accounting before final posting. Accordingly, the correct timing is after submission, even if the invoice remains in progress. Posted status is the evidence that the operational journal has affected the ledger, whereas View Accounting during workflow is a diagnostic and approval aid.
Official Workday reference: Workday Education - Supplier Accounts; topics: supplier invoice submission and View Accounting.
NEW QUESTION # 26
Refer to the following scenario to answer the question below.
A company is a global organization that needs to comply with multiple accounting standards. The company has configured their account posting rules so that certain supplier invoices will comply with U.S. GAAP rules but will not comply with IFRS.
To which book code will the supplier invoices be mapped?
Answer: C
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
Supplier invoices are operational transactions. Workday generates their accounting through account posting rules and normally leaves the Book Code field blank. Blank-book-code operational journals form the Common Book and provide the shared accounting base used by multiple reporting books. The invoices therefore do not receive a U.S. GAAP-specific book code merely because their configured operational treatment complies with U.S. GAAP.
When another accounting standard requires a different result, Workday records only the difference in an additional book code. In this scenario, the organization would create an IFRS adjustment using an IFRS-specific book code and define an IFRS book that combines blank activity with those IFRS adjustments. A U.S. GAAP reporting book can similarly include blank activity and any genuinely necessary U.S. GAAP adjustments. Mapping the supplier invoice simultaneously to two specific codes would duplicate the operational accounting, while mapping it only to IFRS would misstate the configured treatment. Consequently, the supplier invoice maps to the blank book code. This architecture separates source-document accounting from reporting-basis adjustments and enables the same operational transaction to support U.S. GAAP, IFRS, tax, or management reporting without recreating the invoice.
Official Workday reference: Workday Education - Multi-book; topics: operational journals, blank book code, and Common Book.
NEW QUESTION # 27
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 # 28
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 # 29
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