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| Section | Objectives |
|---|---|
| Topic 1: Period End Close and Consolidation | - Month-end and year-end close procedures - Financial consolidation and intercompany processing |
| Topic 2: Financial Accounting Fundamentals | - Accounting principles in Workday - Financial structures and ledgers |
| Topic 3: Chart of Accounts and Organizational Setup | - Financial dimensions and configuration - Ledger and organizational structure design |
| Topic 4: Journal Processing and Accounting Entries | - Adjustments, reversals, and approval workflows - Journal creation, validation, and posting |
| Topic 5: Introduction to Record-to-Report | - End-to-end business process overview - Core concepts and purpose of the R2R cycle |
| Topic 6: Security and Workflow Configuration | - Access controls for financial processes - Process automation and workflow design |
| Topic 7: Financial Reporting and Analytics | - Financial statement generation - Reporting frameworks and analytics tools |
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NEW QUESTION # 17
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 # 18
Your healthcare company is restructuring its departments to improve patient care coordination.
Why would they set up the new departments as organizations?
Answer: A
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
Creating the new departments as Workday organizations provides a governed structure for workforce assignments, managerial responsibility, security, business-process routing, and financial reporting. Depending on the design, supervisory organizations can represent management reporting relationships, while cost centers or custom organizations can classify financial responsibility and support departmental reporting. The organization hierarchy enables aggregated analysis at hospital, division, and department levels.
Patient appointment scheduling and clinical inventory management are application-specific operational processes and are not the primary reason to establish Workday organizations. Performance reviews can use organizational context, but that is only one downstream use and does not describe the broader structural purpose. The healthcare company is restructuring departments specifically to improve coordination, so the organization model should align workers, managers, financial responsibility, and access controls with the new operating design. Transactions can then carry the appropriate organizational worktags, reports can compare departmental cost and activity, and role assignments can be constrained to the relevant departments. Therefore, the correct reason is to structure the hospital's workforce and financial reporting. This approach treats the department as a durable governance object rather than a descriptive label added separately to unrelated records.
Official Workday reference: Workday Education - Organizations; topics: organizations, workforce structure, and financial reporting dimensions.
NEW QUESTION # 19
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: C
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 # 20
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
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
The automatic receipt configuration is evaluated from the company performing the settlement. Company E is the paying company because it settled the supplier-side obligation created from Company D's customer invoice. Therefore, Company E's intercompany profile relationship with Company D must have Record Intercompany Receipt enabled.
Workday defines this option as generating an intercompany receipt after the current company settles an intercompany transaction received from the company identified in the profile's To relationship. In this scenario, Company E is the current company and Company D is the company from which the intercompany transaction originated. If Company E has not selected the automatic receipt option for Company D, settlement can complete without the corresponding receipt being generated and posted for Company D.
Company D's profile setting in option A represents the reverse transaction direction. A missing intercompany relationship is less likely because the companies successfully processed and settled a direct intercompany invoice. Similarly, the required company-as-customer and company-as-supplier configuration must already exist for the underlying direct intercompany invoice flow to operate. The failure specifically concerns the post-settlement receipt, making Company E's automatic receipt setting the controlling configuration.
Official Workday reference: Workday - Define Intercompany Profiles; topics: Record Intercompany Receipt and Direct Intercompany Activities.
NEW QUESTION # 21
A company that has multiple subsidiaries is implementing Workday. They need to set up intercompany transactions.
What is the first step in this process?
Answer: B
Explanation:
Comprehensive and Detailed 150 to 250 words of Explanation From Workday Record-to-Report/Course Guide/topics:
The first configuration step is to establish the intercompany relationships through Edit Company Intercompany Profile. The profile determines which companies may transact with or settle each other and controls capabilities such as initiation, settle-only relationships, payment types, bank accounts, automatic intercompany receipts, and asset transfers. Without a valid profile, Workday cannot expose the affiliate as an eligible intercompany counterparty for many transaction types.
Historical journal conversion should occur only after the foundational company relationships, posting rules, affiliate worktags, and opening periods are correctly configured. Settlement terms and payment methods are components of the broader profile and settlement design; they do not replace creation of the relationship itself. Training users before configuration is complete would teach an incomplete process and cannot enable transactions. After profiles are established, administrators configure intercompany payables and receivables account posting rules, companies as customers or suppliers for direct intercompany activity, appropriate business processes, elimination rules, and reconciliation reporting. This sequence ensures that transactions create balanced due-to and due-from accounting and remain traceable through settlement and consolidation. Therefore, editing the intercompany profiles is the correct first step.
Official Workday reference: Workday - Define Intercompany Profiles; topics: Edit Company Intercompany Profile and relationship setup.
NEW QUESTION # 22
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