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| Section | Objectives |
|---|---|
| Advanced Accounting Tasks | - Data integrity and accounting tools
|
| Financial Close and Reporting | - Close process execution
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| Financial Accounting and Period Close Configuration | - Accounting configuration and maintenance
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| Core Workday Financial Management Functionality | - Workday Financial Management system functionality
|
>> Exam Sample Workday Workday-Record-to-Report Questions <<
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NEW QUESTION # 56
You submit a journal entry.
What journal status proves Workday recorded it in the ledger?
Answer: B
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
Posted is the journal status that confirms Workday has recorded the journal in the ledger. Workday defines a posted journal as one that has completed the Accounting Journal Event business process, has been posted to the applicable company ledger, and is included in financial reporting.
Submission alone does not establish ledger recognition. After submission, a journal may remain In Progress while approvals, reviews, validations, or other configured business-process steps are outstanding. During that period, Workday has assigned the journal to workflow, but it is not yet included in standard financial statements. Approved and Completed may describe workflow events or steps, but they are not the controlling accounting-document status used to demonstrate that ledger posting occurred.
Once the journal reaches Posted status, its debit and credit lines affect ledger balances for the specified accounting date, ledger, company, book code, and worktags. A posted journal can subsequently be removed from active ledger reporting only through the controlled unposting process, subject to period status and security restrictions.
Therefore, the accountant should verify the journal document status itself rather than relying solely on submission or approval history. The definitive status evidencing ledger recording is Posted.
Official Workday reference: Workday Education - Accounting Journals; topics: Journal Statuses, Posted, and Accounting Journal Event.
NEW QUESTION # 57
How does Workday handle accounting for operational transactions?
Answer: C
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
Operational transactions originate in functional areas such as Supplier Accounts, Customer Accounts, Expenses, Assets, Payroll, and Procurement. Workday evaluates the transaction attributes against the configured account posting rules and automatically creates the corresponding operational journal. Relevant criteria can include spend or revenue category, accounting treatment, company, worktags, tax configuration, and other rule dimensions. The resulting journal posts the required debits and credits to the ledger accounts selected by the first matching condition or the rule's default account.
Operational accounting is not handled in the same manner as a manually entered accounting journal. Manual journals require the preparer to specify ledger accounts and amounts directly, while operational journals derive accounting from policy configuration. Spend and revenue rules are important examples, but they do not represent the complete operational-accounting framework. The assertion that end users can freely override Workday's built-in accounting is also incorrect; correcting an operational transaction or its configuration normally requires controlled actions that preserve the source-document audit trail. Therefore, the accurate statement is that Workday evaluates transaction criteria against account posting rules and posts the generated operational journal accordingly. This design centralizes accounting policy and reduces inconsistent account selection by transaction processors.
Official Workday reference: Workday Education - Accounting Journals; topics: operational journals and account posting rules.
NEW QUESTION # 58
Once a user enters a financial transaction, what company accounting detail is locked from being changed?
Answer: B
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
Company Currency becomes immutable once a financial transaction exists for the company. It is a foundational accounting attribute used to store ledger amounts, convert transaction currencies, calculate balances, and produce the company's statutory financial statements. Changing it after activity has been recorded would invalidate historical conversion results and undermine the continuity of ledger balances.
Workday applies similar protection to other core company accounting attributes, including the fiscal schedule and account set, but among the choices presented Company Currency is the applicable locked detail. Account Translation Rule Sets govern how balances are translated into reporting currencies and may be maintained as reporting requirements evolve. Account Posting Rule Sets determine the ledger accounts generated from operational transactions, while Account Control Rule Sets impose journal controls; neither is the company's immutable base-currency identity. Administrators must therefore complete currency design and legacy-data planning before creating the first financial transaction. If the legal entity requires reporting in another currency, Workday uses translation rules and reporting currencies rather than altering the established company currency. This preserves the original accounting basis and provides a consistent audit trail across all operational and accounting journals.
Official Workday reference: Workday Education - Financial Accounting Setup; topics: Edit Company Accounting Details and locked company currency.
NEW QUESTION # 59
You need to find balances due to several suppliers for multiple periods.
What report will you use?
Answer: A
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 # 60
Company A provides IT services to Company
B At the end of the month, Company A needs to bill Company B.
How will they do so?
Answer: D
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
Company A is the service provider and must bill Company B, the receiving affiliate. Company A therefore creates a direct intercompany customer invoice naming Company B as the affiliated customer. The invoice records Company A's revenue and intercompany receivable and can generate or support the linked supplier invoice in Company B, which records the corresponding expense and intercompany payable.
Company B should not create a vendor invoice for Company A as the initiating billing document because the seller is responsible for issuing the customer invoice. A Company B intercompany invoice for Company A reverses the stated commercial direction. An external customer invoice would treat Company B as an ordinary outside customer and would not invoke Workday's direct-intercompany controls, linked documents, affiliate identification, or settlement processing. Before processing, the companies must be mapped as customers and suppliers, the intercompany profile must allow the relationship, and sales items or revenue categories must map appropriately to purchase items or spend categories. Affiliate worktags should also be present for reconciliation and elimination. Accordingly, Company A creates a direct intercompany customer invoice to bill Company B.
Official Workday reference: Workday - Setup Considerations: Direct Intercompany Activities; topics: direct intercompany customer invoices and linked supplier invoices.
NEW QUESTION # 61
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