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Workday Fin Applied exam questions
with correct answers
this type of business process step allows users to edit some fields on the notification - CORRECT ANSWERS ✔✔Action Which area do we not share custom worktags with? - CORRECT ANSWERS ✔✔Expense Can you add a new Bp to a Functional area? - CORRECT ANSWERS ✔✔No What is not a characteristic of workdays settlement engine? - CORRECT ANSWERS ✔✔It is not tied to a BP A journal is in cancelled stasis, what is the only thing you can do to it? - CORRECT ANSWERS ✔✔Copy T/f EIB needs to be downloaded in order for you to use - CORRECT ANSWERS ✔✔False What "visibility" is not an option in workday when creating a company? - CORRECT ANSWERS ✔✔Admin only
Where can you run reports in WD? - CORRECT ANSWERS ✔✔home page or from favorites user can override their preferred landing page in their? - CORRECT ANSWERS ✔✔Change Preferences task What is a functional Area? - CORRECT ANSWERS ✔✔a grouping of task, reports, and objects; a collection of related securable items, where each functional area is further divided into domains and business process. What is a Business Process? - CORRECT ANSWERS ✔✔is the definition of tasks that need to be done for an event to occur, the order in which they must be completed, and who must do them. These are the account posting rules, when a customer pmt will use if they took a 2% discount, paid nothing more then they owed, and the deposit was not created with the pmt - CORRECT ANSWERS ✔✔Undeposited Payments, Discounts Given, Receivables, Retained Earnings What are Security group types? - CORRECT ANSWERS ✔✔Workday- delivered and describe how security is assigned to users What is a BP definition? - CORRECT ANSWERS ✔✔specifies the security group responsible for each step in the process, notifies the workers in these groups and gets feedback on when each step is complete so it can move on to the next step.
What are role based security groups? - CORRECT ANSWERS ✔✔these are commonly used to identify users in key support or leadership roles supporting different organizations What is FDM - CORRECT ANSWERS ✔✔Foundation Data Model. The FDM is the multidimensional structure of Workday accounting and financial reporting. Fill in the four steps for creating an EIB - CORRECT ANSWERS ✔✔Create EIB, Generate Spreadsheet, Populate Spreadsheet with data, Launch Composite and matrix reports are both examples of what type of report? - CORRECT ANSWERS ✔✔Custom reports Unassigned tasks are routed to which security role to properly assign the task - CORRECT ANSWERS ✔✔business Process Administrator The first and most important step in developing a custom report is choosing a - CORRECT ANSWERS ✔✔report data source What is the default balancing segment in Workday Financials? a Cost Center b Pay Group c Company
d Supervisory Organization - CORRECT ANSWERS ✔✔Company Does accrual journal drive reversal? - CORRECT ANSWERS ✔✔No, label only What is a defaulted worktag? - CORRECT ANSWERS ✔✔Ones that Workday automatically assigns to specific transactions based on the worker creating the transaction When you set up the purchase item, what are the two mandatory field? - CORRECT ANSWERS ✔✔Purchase item name / description and spend category Which 3 rules defines a cost centre? - CORRECT ANSWERS ✔✔Budget responsibility, financial impact, cost centre manager Which statement below is false regarding the Maintain Worktag Usage data integrity tool a Applied tenant wide b Applied on the transaction c Applied based on specified condition d What Maintain Worktag Usage - CORRECT ANSWERS ✔✔C Is it recommended to use spend hierarchy to not be required to update accounting rules? - CORRECT ANSWERS ✔✔No
What is security, hierarchy allowed and worker assignments? - CORRECT ANSWERS ✔✔These are key difference between custom worktag and custom org Why would you use caution when using purchase items groups in account posting rules? a Because posting rules are fun and flexible b Because you don't have security c Because they are optional d Because they are required - CORRECT ANSWERS ✔✔C Are there different security groups for reports? - CORRECT ANSWERS ✔✔Yes. Report Writer (Owner) and Report Administrator True or False: Both Supplier Category and Supplier Group can be used as dimensions in the Account Posting Rules to drive account postings. - CORRECT ANSWERS ✔✔true What is a Domain? - CORRECT ANSWERS ✔✔Pre-defined set of related securable items Which of the following describes a domain? - CORRECT ANSWERS ✔✔Setup Data, Power Users and Highly Configurable
This type of organization allows for inheriting security, searching, reporting, and can be used in account posting rules - CORRECT ANSWERS ✔✔Org hierarchy This is where you would look to see if a particular security group could perform action steps in a business process - CORRECT ANSWERS ✔✔The Business Process Policy: (a) The policy allows a security group to perform certain BP actions (b) The BP itself allows specific security groups to specific actions in specific steps Accounting Journals will call posting rules for all of the following except a Intercompany b Currency Gain and Loss c Spend d Retained Earnings - CORRECT ANSWERS ✔✔Spend Which of the following describes a domain? (Select all correct answers.) A. Setup Data B. Power Users C. Static Data D. Highly Configurable - CORRECT ANSWERS ✔✔ALL but D Workday has how many custom worktags? - CORRECT ANSWERS ✔✔ 15 custom worktag - shared across Payroll, Timetracking, HCM, Financials
Which reports are displayed by the Workday Standard Reports? - CORRECT ANSWERS ✔✔All Workday Delivered Reports, regardless of access Can an organization be used as a Worktag? - CORRECT ANSWERS ✔✔Yes A first and most important step in developing a custom report - CORRECT ANSWERS ✔✔Choosing a Report Data Source After you close a ledger year, it is no longer available for processing but available for reporting - CORRECT ANSWERS ✔✔true this type of security group limits what values user have access to within that task - CORRECT ANSWERS ✔✔segment based Which one of these is NOT a delivered costing organization? - CORRECT ANSWERS ✔✔Supervisory Organization Which area do we not share Custom Worktags with? - CORRECT ANSWERS ✔✔Expense True or False: A Period Close Checklist can include tasks to be completed within Workday as well as tasks to be completed outside of Workday. - CORRECT ANSWERS ✔✔True
What is a BP? Creating a customer or creating a supplier? - CORRECT ANSWERS ✔✔Both What are the two types of data integrity a Maintain Worktags b Maintain Custom Validation c Maintain Related Worktag Usage d Maintain Validations - CORRECT ANSWERS ✔✔B and ore C True or False: Workday allows you to have multiple ledger periods open at the same time - CORRECT ANSWERS ✔✔True Can a Worktag be used as an Organization? - CORRECT ANSWERS ✔✔No Worktags have no dependents or parents What is user based security? - CORRECT ANSWERS ✔✔This Security is assigned to a specific workday account, not a role or position Do organisation hierarchies store transactions? - CORRECT ANSWERS ✔✔No Customer and Purchase Item are this type of Worktag - CORRECT ANSWERS ✔✔Delivered Worktag
Customer groups are required setup to be used for reporting and searching the customer base - CORRECT ANSWERS ✔✔Fasle this type of business process step allows users to edit some fields on the notification - CORRECT ANSWERS ✔✔Action True or False: Supplier invoices can be managed after the invoice has been submitted. - CORRECT ANSWERS ✔✔T Spend categories are used to classify assets, expense items, purchase items, and supplier catalog items. After spend categories are created, their usage can be defined for all of the following except: A. Ad Hoc Payment B. Expense C. Journal Lines D. Procurement E. Supplier Invoice - CORRECT ANSWERS ✔✔C Where can you specify who has permission to cancel a business process? A. Domain security policy B. Business process definition C. Functional area D. Business process security policy - CORRECT ANSWERS ✔✔D
A ____________ is a set of tasks that is initiated, acted upon, and completed by users in Workday. A. Business Process B. Functional Area C. Supplier Invoice - CORRECT ANSWERS ✔✔A What Methods can be used to get to the home page? a. Home Icon, Search Bar b. Workday Icon, Profile c. Home Icon, Favorites d. Home Icon, Site Map - CORRECT ANSWERS ✔✔B Before you can begin creating and posting financial transactions you need to set up financial accounting details for each company. Put the following tasks in order for completing the financial accounting setup. 1___ Create Ledger 2___ Edit Company Accounting Details 3___ Maintain Ledger Period 4___ Create Ledger Year and Periods - CORRECT ANSWERS ✔✔2 1 4 3 True or False: A Workday customer must be set up as a supplier before they can be refunded following an adjustment or overpayment. - CORRECT ANSWERS ✔✔F
b No c if you configure the system to do it, you can d I don't know - CORRECT ANSWERS ✔✔No What value below is NOT a factor to consider for cost center? a Budget b Manager c Financial Impact d Custom Organization - CORRECT ANSWERS ✔✔D What is the first thing you are prompted for before making changes to any organization? a Enter Reorganization b Enter Effective Date c Enter Availability Dated Enter Company Name - CORRECT ANSWERS ✔✔A Which one of these is not a role-based security group a Financial Administrator b Accounting Manager c Accountantd Controller - CORRECT ANSWERS ✔✔A Can you roll a cost center into a company hierarchy? a No
b Yes, you can do anything you want c Sometimes d I don't know - CORRECT ANSWERS ✔✔No Where do pending actions show up? a Inbox b Notifications c Your To Do List d My Reports - CORRECT ANSWERS ✔✔A` How many custom organizations can be in a tenant? a 8 b 15 c 12 d 10 - CORRECT ANSWERS ✔✔D 10 Which journal statuses are missing from the list below?
- A. _________
- B. _________
- C. In Progress
- D. Unposted
- E. Canceled - CORRECT ANSWERS ✔✔Created and Posted
True or False: Workday has separate settlement engines for receivables and payables? - CORRECT ANSWERS ✔✔F A journal is in a cancelled status, what is the only thing you can do to it? a Edit b Copy c Delete d Deny - CORRECT ANSWERS ✔✔B When Considering account posting rule dimensions, what statement is true? a Dimensions are read as OR b Dimensions can be configure to be read as AND or OR c Dimensions are read as AND d Dimensions are on to one relationship with Ledger Accounts - CORRECT ANSWERS ✔✔C What is not a characteristic of Workday's settlement engine? a It is a single settlement engine b Supports multiple payment methods c Workday provides a Settlement Dashboard d It is not tied to a business process - CORRECT ANSWERS ✔✔D
Are there bank routing rules for a Petty Cash Account? a Yes b No - CORRECT ANSWERS ✔✔No Does Customer Invoice Adjustment - Create a new transaction? a Yes b No - CORRECT ANSWERS ✔✔A Which area do we not share Custom Worktags with? a Payroll b Expense c HCM d Time Tracking - CORRECT ANSWERS ✔✔B Can you make supplier and expense payments from Petty Cash? a No b Yes - CORRECT ANSWERS ✔✔Yes What is NOT a characteristic of Role Based Security Group a Assigned to the User b Assigned to the Position c End User d Dynamic Based on Position - CORRECT ANSWERS ✔✔A
