The web-based Workday Workday-Record-to-Report practice test software is designed explicitly for the Workday Pro Record-to-Report (R2R) Certification Exam exam. It is a well-known self-preparation tool that contains Workday-Record-to-Report Exam Questions approved by Workday Certified Professionals. Our Workday Workday-Record-to-Report exam questions are periodically updated and are similar to the real Workday Pro Record-to-Report (R2R) Certification Exam exam questions. The Workday Workday-Record-to-Report Practice Test has a close resemblance with the actual Workday Workday-Record-to-Report exam. Multiple This Workday certification exam needs to be finished in a certain time duration, therefore Workday Workday-Record-to-Report practice test allows candidates to practice in the allocated time set according to their own needs.
| Section | Objectives |
|---|---|
| Topic 1: Operational Maintenance | - Troubleshooting - Best Practices - Data Validation |
| Topic 2: Financial Accounting | - Accounting Configuration - Accounting Processes - General Ledger |
| Topic 3: Financial Reporting | - Report Configuration - Financial Statements - Standard Financial Reports |
| Topic 4: Financial Period Close | - Reconciliation - Close Monitoring - Period-End Close Activities |
| Topic 5: Record-to-Report Configuration | - Accounting Rules - Business Process Configuration - Security and Permissions |
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NEW QUESTION # 27
What would you use to review and reconcile the intercompany balances between two companies?
Answer: B
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
The Intercompany Work Area provides the operational workspace for reviewing and reconciling activity between affiliated companies. It presents intercompany transactions, settlement runs, in-progress accounting, unrecorded receipts, and outstanding due-to or due-from amounts, enabling the accountant to identify which items produce the balance difference between the two companies.
Customer Activity Summary and Supplier Activity Summary provide subledger views for external or supplier/customer relationships but do not deliver the consolidated intercompany workflow and counterparty matching needed here. A Bank Statement report supports cash reconciliation and cannot explain all intercompany receivable, payable, revenue, expense, or settlement differences. From the Intercompany Work Area, users can investigate transaction status and proceed to more detailed reports such as Intercompany Payables and Receivables Reconciliation or Intercompany Out of Balance. Typical issues include unmatched settlements, receipts not recorded, different posting periods, missing affiliate worktags, or currency differences. Correcting the source activity and rerunning the work area preserves the audit trail and supports elimination during consolidation. Therefore, the Intercompany Work Area report is the appropriate starting point.
Official Workday reference: Workday - Setup Considerations: Direct Intercompany Activities; topics: Intercompany Work Area and balance reconciliation.
NEW QUESTION # 28
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 # 29
You are creating a new bank account.
What data is required?
Answer: C
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 # 30
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 # 31
As the accountant of your organization, you notice there are operational journals posted with missing or incorrect worktags. The corresponding fiscal period is now closed.
How can you fix the accounting?
Answer: A
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
The operational journals are already posted, and the fiscal period is closed. Workday preserves the source-document and journal audit trail, so the accountant should not attempt to edit posted operational journal lines directly. The controlled correction is for the Accounting Manager to change the applicable ledger period status to Adjustments Only and then create adjusting accounting journals that correct the missing or incorrect worktags.
Adjustments Only permits authorized adjustment activity while continuing to prevent normal operational posting into the closed period. Posting the correction only in the next period would leave the original period's dimensional reporting inaccurate and could distort certified or published balances. Fix Operational Journals with Errors applies to operational journals that remain in error; it does not rewrite journals that have already posted with valid ledger accounts but incorrect worktags. Fully reopening the period and unposting every affected operational journal is unnecessarily disruptive and can break the relationship between the source transactions and their accounting. A targeted adjustment provides the appropriate control, period accuracy, and audit evidence. After the correcting journals are approved and posted, the Accounting Manager can return the ledger period to the required closed status.
Official Workday reference: Workday Education - Accounting Journals; topics: closed periods, adjustments-only status, and correcting journals.
NEW QUESTION # 32
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