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| Section | Objectives |
|---|---|
| Topic 1: Financial Accounting | - Accounting Processes - Accounting Configuration - General Ledger |
| Topic 2: Financial Reporting | - Financial Statements - Report Configuration - Standard Financial Reports |
| Topic 3: Operational Maintenance | - Best Practices - Data Validation - Troubleshooting |
| Topic 4: Financial Period Close | - Period-End Close Activities - Reconciliation - Close Monitoring |
| Topic 5: Record-to-Report Configuration | - Security and Permissions - Accounting Rules - Business Process Configuration |
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NEW QUESTION # 49
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 # 50
Your company requires a line of business to be included on accounting journals when a cost center of 71100-Field Sales Operations is selected.
What should you do?
Answer: C
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
The requirement is conditional: a Line of Business worktag must be present specifically when Cost Center 71100-Field Sales Operations is selected. A critical custom validation can evaluate both conditions-whether the designated cost center is present and whether Line of Business is blank-and prevent submission until the missing worktag is supplied.
Critical severity is required because it creates a hard stop. A warning validation can be bypassed and therefore cannot ensure compliance. Maintain Worktag Usage can make Line of Business required for accounting journals, but that configuration applies broadly to the transaction type across the tenant; it does not restrict the requirement to one cost center. Maintain Related Worktag Usage is appropriate when a defined worktag value should default from another business object. It does not adequately represent a requirement allowing the user to select an appropriate Line of Business whenever the specified cost center is used.
The validation should therefore be configured on the Accounting Journal transaction type with logic equivalent to: Cost Center equals 71100-Field Sales Operations AND Line of Business is blank. The resulting critical error should explicitly instruct the preparer to enter a Line of Business before submitting the journal.
Official Workday reference: Workday Education - Accounting Journals; topics: Custom Validation Condition Rules, Critical and Warning Validations, and Maintain Worktag Usage.
NEW QUESTION # 51
If a user records an on-account payment for a customer, what additional step must be completed in Workday before a refund may be processed?
Answer: B
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
An on-account customer payment represents cash received but not yet applied to a specific receivable. Before Workday can process a refund from that recorded payment, the payment must be included in a customer deposit. The deposit establishes the bank-account side of the receipt, completes the controlled cash-recording step, and makes the amount available for subsequent cancellation or refund processing. This is distinct from applying the payment against a customer invoice.
Writing off bad debt addresses an uncollectible customer balance and does not convert an on-account receipt into refundable cash. A settlement run is used later to create and process outbound payments, including approved customer refunds, but the eligible refund transaction must first exist. A customer invoice adjustment changes a billed receivable; it is not the prerequisite for refunding an unapplied payment. Therefore, Create a customer deposit is the required additional step. The configuration also preserves a complete audit trail from the recorded payment, through deposit accounting, to the resulting customer refund and settlement. This treatment aligns with the Workday Record-to-Report control model in which cash receipt recording, depositing, refund authorization, and payment settlement are separate but linked events.
Official Workday reference: Workday Education - Customer Receipts; topics: on-account payments, customer deposits, and customer refunds.
NEW QUESTION # 52
You need to find balances due to several suppliers for multiple periods.
What report will you use?
Answer: D
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 # 53
There are several companies within a tenant, one of the companies requires a location worktag on supplier invoices.
What task should you use to manage this requirement?
Answer: B
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
Maintain Custom Validations is required because the Location worktag requirement applies to only one company. The validation should be configured for the Supplier Invoice transaction type and should test whether the invoice company equals the designated company and the Location worktag is blank. A critical validation will prevent submission until the required Location is entered.
Maintain Worktag Usage is not appropriate for a company-specific requirement. Workday applies the required-worktag configuration for a transaction type throughout the tenant. If Location were marked as required for supplier invoices through Maintain Worktag Usage, every company would receive the same requirement. Workday's official course guidance specifically directs administrators to use custom validations when a worktag is required for one company rather than tenant-wide.
Maintain Related Worktag Usage supports defaulting or requiring worktags associated with another business object, such as deriving a Region from a Cost Center. It does not independently implement the stated company-level condition. Business Process Step Conditions control whether workflow steps execute; they do not perform transaction-level FDM completeness enforcement.
The appropriate configuration is therefore a company-conditioned critical custom validation. This preserves the other companies' existing supplier-invoice behavior while ensuring that the selected company cannot submit an invoice without Location.
Official Workday reference: Workday Education - Accounting Journals; topics: Tenant Wide, Maintain Worktag Usage, and Custom Validation Condition Rules.
NEW QUESTION # 54
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