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| Section | Objectives |
|---|---|
| Topic 1: Core Workday Financial Management Functionality | - Workday Financial Management system functionality
|
| Topic 2: Advanced Accounting Tasks | - Journal Processing
|
| Topic 3: Financial Accounting and Period Close Configuration | - Accounting configuration and maintenance
|
| Topic 4: Financial Close and Reporting | - Close process execution
|
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?
Correct Answer: C 🗳️
Explanation: Only visible for Actual4Labs members. You can sign-up / login (it's free).
Refer to the following scenario to answer the question below.
A company is a global organization that needs to comply with multiple accounting standards. The company has configured their account posting rules so that certain supplier invoices will comply with U.S. GAAP rules but will not comply with IFRS.
In addition to the supplier invoices, what transaction is necessary for the IFRS book to achieve compliance?
Correct Answer: C 🗳️
Explanation: Only visible for Actual4Labs members. You can sign-up / login (it's free).
What does the Taxable field indicate when you set up a customer in Workday?
Correct Answer: B 🗳️
Explanation: Only visible for Actual4Labs members. You can sign-up / login (it's free).
A company that has multiple subsidiaries is implementing Workday. They need to set up intercompany transactions.
What is the first step in this process?
Correct Answer: C 🗳️
Explanation: Only visible for Actual4Labs members. You can sign-up / login (it's free).
Refer to the following scenario to answer the question below.
A company created a journal sequence generator rule, assigned the rule to the company, selected to create ID generators, opened accounting periods, and posted journals to the current ledger year. Next, the company added a condition to the journal sequence generator rule.
When is the soonest the new condition would be included on the company's journals?
Correct Answer: A 🗳️
Explanation: Only visible for Actual4Labs members. You can sign-up / login (it's free).
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