As we always want to do better in this career, our research center has formed a group of professional experts responsible for researching new technology of the Workday-Record-to-Report study materials. The technology of the Workday-Record-to-Report practice prep will be innovated every once in a while. As you can see, we never stop innovating new version of the Workday-Record-to-Report Exam Questions. We really need your strong support. We always adopt the kind and useful advices of our loyal customers who wrote to us and gave us their opinions on their study.
| Section | Objectives |
|---|---|
| Topic 1: Operational Maintenance | - Data Validation - Best Practices - Troubleshooting |
| Topic 2: Financial Accounting | - Accounting Processes - Accounting Configuration - General Ledger |
| Topic 3: Financial Reporting | - Financial Statements - Report Configuration - Standard Financial Reports |
| Topic 4: Financial Period Close | - Period-End Close Activities - Close Monitoring - Reconciliation |
| Topic 5: Record-to-Report Configuration | - Business Process Configuration - Security and Permissions - Accounting Rules |
>> Practice Test Workday-Record-to-Report Fee <<
What sets DumpsReview Workday Pro Record-to-Report (R2R) Certification Exam (Workday-Record-to-Report) practice tests (desktop and web-based) apart are their unique features. The Workday-Record-to-Report web-based practice exam is compatible with all operating systems and it can be taken on popular browsers like Chrome, Firefox, and Safari. The Workday Workday-Record-to-Report desktop practice exam software is compatible with Windows computers. After validating the product's license, you won't need an active internet connection to use the desktop Workday Pro Record-to-Report (R2R) Certification Exam (Workday-Record-to-Report) practice test software.
NEW QUESTION # 16
Company D and Company E process direct intercompany transactions, and both companies would like to automatically record intercompany receipts. Company D billed Company E for services provided, and Company E settled the invoice. However, Company D's accountant noticed the receipt has not been posted.
What is the most likely cause?
Answer: C
NEW QUESTION # 17
What would you use to review and reconcile the intercompany balances between two companies?
Answer: A
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 # 18
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: D
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 # 19
You need to record a financial transaction in Workday. The transaction does not automatically come from an operational area such as supplier accounts or customer accounts.
Why might you use an accounting journal?
Answer: D
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
An accounting journal is used to record financial activity that does not originate from an operational source document such as a supplier invoice, customer invoice, expense report, asset event, or payroll result. The journal enables authorized accountants to enter balanced debits and credits directly into the applicable company ledger so that accruals, reclassifications, corrections, opening balances, and other non-operational events are reflected in financial reporting.
Its purpose is not to back up system-generated data or to provide an informal communication channel between departments. Although the Accounting Journal Event can include approvals, reviews, validations, and posting steps, triggering workflow is a control surrounding the journal rather than the accounting reason for using it. The journal must specify the company, ledger, accounting date, journal source, currency, ledger accounts, amounts, and required worktags. Once the business process completes, Posted status confirms inclusion in the ledger and financial reports. Using an accounting journal therefore ensures that legitimate financial events outside operational modules are captured in the general ledger with an auditable document and controlled approval history. Option A expresses that accounting purpose accurately.
Official Workday reference: Workday Education - Accounting Journals; topics: manual accounting journals and general-ledger recording.
NEW QUESTION # 20
Company X and Company Y are part of the same Workday tenant. Company X provides consulting services to Company Y.
How will you record this intercompany service in Workday to ensure proper tracking and elimination during consolidation?
Answer: B
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
Workday's intercompany transaction functionality should be used because the service affects two separate legal entities and must be recorded symmetrically. Company X records the consulting revenue and the corresponding intercompany receivable, while Company Y records the consulting expense and intercompany payable. Appropriate intercompany affiliate worktags identify the counterparty on both companies' journal lines.
These affiliate dimensions are essential for reconciliation and consolidation. Intercompany elimination rules use the identified due-to and due-from companies to eliminate reciprocal revenue, expense, receivable, and payable balances from consolidated financial statements. Workday also provides intercompany reconciliation and out-of-balance reporting to identify mismatches before the consolidated close is completed.
Recording an entry only in Company X would omit Company Y's expense and payable and create an immediate out-of-balance condition. A bank transfer records settlement but does not establish the underlying revenue and expense transaction. A regular vendor invoice that is not configured as a direct intercompany transaction may fail to create the linked counterparty accounting and affiliate identification required for automated elimination.
The controlled intercompany process therefore provides the source documents, reciprocal accounting, settlement capability, counterparty worktags, and elimination support required for accurate consolidated reporting.
Official Workday reference: Workday - Setup Considerations: Direct Intercompany Activities; topics: Intercompany Affiliate Worktags, Direct Intercompany Transactions, and Consolidated Financial Statements.
NEW QUESTION # 21
......
Please don’t worry about the purchase process because it’s really simple for you. The first step is to select the Workday-Record-to-Report test guide, choose your favorite version, the contents of different version are the same, but different in their ways of using. The second step: fill in with your email and make sure it is correct, because we send our Workday Pro Record-to-Report (R2R) Certification Exam learn tool to you through the email. Later, if there is an update, our system will automatically send you the latest Workday Pro Record-to-Report (R2R) Certification Exam version. At the same time, choose the appropriate payment method, such as SWREG, DHpay, etc. Next, enter the payment page, it is noteworthy that we only support credit card payment, do not support debit card. Generally, the system will send the Workday-Record-to-Report Certification material to your mailbox within 10 minutes. If you don’t receive it please contact our after-sale service timely.
Workday-Record-to-Report PDF: https://www.dumpsreview.com/Workday-Record-to-Report-exam-dumps-review.html