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Workday Financials Exam 100% Correct!!
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Industry term: general ledger - ANSWERWD term: financial accounting Industry term: budgeting - ANSWERWD term: business plans (will soon be called budgets) Industry term: billing - ANSWERWD term: revenue managmenet Industry term: A/R - ANSWERWD term: customer accounts Industry term: A/P - ANSWER...

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  • October 9, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • workday financials exam 100 correct
  • workday financials exam stuvia
  • industry term general ledger answerwd term fi
  • 3 types of organizations answer1 company 2 cos

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Workday Financials Exam 100%
Correct!!

Industry term: general ledger - ANSWERWD term: financial accounting

Industry term: budgeting - ANSWERWD term: business plans (will soon be called budgets)

Industry term: billing - ANSWERWD term: revenue managmenet

Industry term: A/R - ANSWERWD term: customer accounts

Industry term: A/P - ANSWERWD term: supplier accounts

Industry term: Asset management - ANSWERbusiness asset accounting/business asset tracking

3 types of organizations - ANSWER1. company

2. cost center

3. region

3 uses for a hierarchy - ANSWER1. used for grouping

2. used for security

3. used for reporting

"maintain" will show you: - ANSWERan editable grid

"find" will show you - ANSWERa list of values

"view" will show you - ANSWERone value

What level in a hierarchy can reporting occur at? - ANSWERany level

What level in a hierarchy can transactions occur? - ANSWERbottom level

What is a reference ID used for? - ANSWERANY integration system

Is a reference ID visable to the end user? - ANSWERNO

who uses iloads? - ANSWERconsultants

Who uses EIBs? - ANSWERcustomers

What is the purpose of a reorganization? - ANSWERIt allows you to track everything you did
associated with a specific reorganization

The reference ID should be the same ID you used for what? - ANSWEROrg code

How do you edit a company tax ID? - ANSWERView the company, actions --> company --> edit tax ID

, (you can use the first field if you only have 1, but use the table if you have more than 1)

When creating a company, do you combine the name & code? Why? - ANSWERNo, because we don't
do transactions at this level of the hierarchy

How do you create a subordinate under a hierarchy? - ANSWERView the hierarchy (ex: GMS NA),
actions--> reorganization-->create subordinate-->company (choose company because it's a hierarchy
of companies!)

What is the important step AFTER creating a cost center? - ANSWERAssign the cost center to the
hierarchy

Can a cost center be assigned to multiple hierarchies? - ANSWERyes

How many custom organizations do you get? - ANSWER10 -- once you use them, they're gone!

What is the typical way of creating a custom organization? - ANSWERtypically, create the children,
then the parent, then tie them together

What is a worktag? - ANSWERA tag that goes on a transaction so it can be reported on later

What is the relationship between worktags and organizations? - ANSWERevery organization is a
worktag, but not every worktag is an organization

what is a derived worktag? - ANSWERit comes from the worker, self service transactions

what is a related worktag? - ANSWERworktags that have other worktags that relate to them



EX: every time I use cost center 111, it also pulls in worktag 222

what is a built in worktag? - ANSWERone that is inherently in the transaction

what is a basic worktag? - ANSWERex: customer



it's a worktag where you don't need/have a lot of information about it (ex: the customer)-- maybe all
you need is the name

When can I make changes to invoices? - ANSWERup until they've been paid (if you view the
transaction, look at the payment status, and if it says "unpaid", changes can be made.)

What are the 5 types of worktags? - ANSWER1. organizations

2. derived

3. related

4. basic

5. built-in

who should be able to access the cancel/change capability? - ANSWERall users

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