Workday Financials - Test with Answers Latest Update 2024
Industry term: general ledger - Answers WD term: financial accounting
Industry term: budgeting - Answers WD term: business plans (will soon be called budgets)
Industry term: billing - Answers WD term: revenue managmenet
Industry term: A/R - Answers WD term: customer accounts
Industry term: A/P - Answers WD term: supplier accounts
Industry term: Asset management - Answers business asset accounting/business asset tracking
3 types of organizations - Answers 1. company
2. cost center
3. region
3 uses for a hierarchy - Answers 1. used for grouping
2. used for security
3. used for reporting
"maintain" will show you: - Answers an editable grid
"find" will show you - Answers a list of values
"view" will show you - Answers one value
What level in a hierarchy can reporting occur at? - Answers any level
What level in a hierarchy can transactions occur? - Answers bottom level
What is a reference ID used for? - Answers ANY integration system
Is a reference ID visable to the end user? - Answers NO
who uses iloads? - Answers consultants
Who uses EIBs? - Answers customers
What is the purpose of a reorganization? - Answers It allows you to track everything you did associated
with a specific reorganization
The reference ID should be the same ID you used for what? - Answers Org code
How do you edit a company tax ID? - Answers View 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? - Answers No, because we don't do
transactions at this level of the hierarchy
How do you create a subordinate under a hierarchy? - Answers View 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? - Answers Assign the cost center to the
hierarchy
Can a cost center be assigned to multiple hierarchies? - Answers yes
How many custom organizations do you get? - Answers 10 -- once you use them, they're gone!
What is the typical way of creating a custom organization? - Answers typically, create the children, then
the parent, then tie them together
What is a worktag? - Answers A tag that goes on a transaction so it can be reported on later
What is the relationship between worktags and organizations? - Answers every organization is a
worktag, but not every worktag is an organization
what is a derived worktag? - Answers it comes from the worker, self service transactions
what is a related worktag? - Answers worktags 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? - Answers one that is inherently in the transaction
what is a basic worktag? - Answers ex: 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? - Answers up 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? - Answers 1. organizations
2. derived
Industry term: general ledger - Answers WD term: financial accounting
Industry term: budgeting - Answers WD term: business plans (will soon be called budgets)
Industry term: billing - Answers WD term: revenue managmenet
Industry term: A/R - Answers WD term: customer accounts
Industry term: A/P - Answers WD term: supplier accounts
Industry term: Asset management - Answers business asset accounting/business asset tracking
3 types of organizations - Answers 1. company
2. cost center
3. region
3 uses for a hierarchy - Answers 1. used for grouping
2. used for security
3. used for reporting
"maintain" will show you: - Answers an editable grid
"find" will show you - Answers a list of values
"view" will show you - Answers one value
What level in a hierarchy can reporting occur at? - Answers any level
What level in a hierarchy can transactions occur? - Answers bottom level
What is a reference ID used for? - Answers ANY integration system
Is a reference ID visable to the end user? - Answers NO
who uses iloads? - Answers consultants
Who uses EIBs? - Answers customers
What is the purpose of a reorganization? - Answers It allows you to track everything you did associated
with a specific reorganization
The reference ID should be the same ID you used for what? - Answers Org code
How do you edit a company tax ID? - Answers View 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? - Answers No, because we don't do
transactions at this level of the hierarchy
How do you create a subordinate under a hierarchy? - Answers View 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? - Answers Assign the cost center to the
hierarchy
Can a cost center be assigned to multiple hierarchies? - Answers yes
How many custom organizations do you get? - Answers 10 -- once you use them, they're gone!
What is the typical way of creating a custom organization? - Answers typically, create the children, then
the parent, then tie them together
What is a worktag? - Answers A tag that goes on a transaction so it can be reported on later
What is the relationship between worktags and organizations? - Answers every organization is a
worktag, but not every worktag is an organization
what is a derived worktag? - Answers it comes from the worker, self service transactions
what is a related worktag? - Answers worktags 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? - Answers one that is inherently in the transaction
what is a basic worktag? - Answers ex: 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? - Answers up 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? - Answers 1. organizations
2. derived
