Exam Bank for Workday Pro Payroll- Questions Answered Correctly Latest Update 2024 (Graded A+)

Exam Bank for Workday Pro Payroll- Questions Answered Correctly Latest Update 2024 (Graded A+) What is an example of an object? - Answers Organizations, workers, and positions T/F You can calculate payroll multiple times during a pay period? - Answers True T/F To include compensation data in your payroll results, you must run a compensation? - Answers False What three items comprise the payroll processing framework, which identifies the when, what, and who process? - Answers Period Schedule(when), Run Category (what), and Pay Group (who) T/F Workday Payroll, Absence and Time Tracking can share period schedules? - Answers True What are two specific types of pay accumulations that you specified in your regular run? - Answers Gross and Net What are run categories assigned to in order to pay workers? - Answers Pay groups and Period Schedules T/F You cannot complete payroll until you have defined the payment elections rules for the run category? - Answers True What is an organization type that is unique to payroll? - Answers Pay Groups T/F Workday delivers and maintains tax data required for payroll tax processing, including rate, limits, and calculations? - Answers True Where can you find information on the latest compliance changes? - Answers Payroll Compliance Updates Earnings and deductions are also called? - Answers pay components You need to calculate the year-to-date amount of employee reported tips. What do you need to create? - Answers Pay Balances T/F PCGs only sum values. They do not subtract values - Answers True What type of calculation returns the sum, average, minimum or maximum of two or more values? - Answers Aggregate What type of calculation can you use to return a t/f value? - Answers Logic What field links an earning to a compensation plan? - Answers Compensation Element You just entered payroll input for three workers. What is the most efficient way to run a pay calculation for these workers? - Answers Run a calculation selecting Smart Calculation Based on Events > Payroll Input What is a Pay Component Related Calculation (PCRC)? - Answers A related calculation that is used in the definition of an earning or deductions T/F You can define the order in which to eliminate or reduce deductions if an employee's net pay is zero or drops below the minimum net amount for the run category? - Answers True When would you select the Special Entry checkbox when adding payroll input? - Answers Select this checkbox if you want to change an earning or deduction even if input is not allowed, based on the pay component's configuration. When Special Entry is selected, Input Details will allow entry of any type, such as hours, amount, or rate T/F You cannot delete payroll input once you have run pay calculation? - Answers False T/F When using payroll input to enter an ongoing deduction, the Start Date and End Date fields are both required? - Answers False Which payroll input processing option do you select when you need to add or subtract from an existing payment? - Answers Adjustment You need to process a spot bonus payment for a worker in the current, regular pay period. What processing options should you use? - Answers One time, Override, regular run You want to add a pay component to the Workday-delivered Payroll Register. What task do you use? - Answers Maintain Register Configuration task What are the steps for processing a withholding order? - Answers 1. Identify disposable income or appropriate wage base for a withholding order. 2. create a deduction recipient. 3. record the details of the withholding order. T/F You need to define the calculation rules and components required to process withholding orders? - Answers False T/F You must set up withholding order priorities in Workday? - Answers False When defining ledger account type, which types should be set up for payroll? - Answers Assets, Liabilities, and Expense. Best practice to set up the Balance Sheet and Income Statement T/F You can define default account for posting and modify posting condition rules? - Answers True You need to see what workers have costing allocations assigned to them. What report can you access? - Answers All Workers Costing Allocations What must be defined before setting up banks and other financial institutions? - Answers Companies, Company hierarchies, Payment type What task do you use to specify the options employees have when selecting their payment elections? - Answers Maintain Payment Election Rules T/F Payroll is the only area of Workday that uses the Settlement Engine. - Answers False. Payroll Supplier and expense payments T/F Workday recalculates supported retroactive changes and forwards the difference to the current period? - Answers True What is the processing sequence for off-cycle and on-cycle payments? - Answers Manual Payments, Reversals, On-Demand pay calculations, On-cycle pay calculations. T/F A worker can have one on-demand replacement per subperiod? - Answers True For what type of off-cycle payment will Workday calculate all scheduled deductions? - Answers Replacement What are some payroll-specific business processes? - Answers Assign Pay Group, Assign Costing allocation, Assign Pay Group for Position Restrictions Event, Pay Cycle Event, Change No Retro Prior To Date, What type of security access remains with the position, not the worker if a worker leaves that position? What type of access does this type of security have to the tenant? - Answers Constrained - indicated that role access is limited by relationship to the objects and unconstrained - has no constraints based on organizations the role supports. What is the purpose of a pay component security segment? - Answers Defines pay components that non-payroll users can view, such as managers and benefits administrators. You have the ability to specify which earnings and deductions are included in the security segment, and which groups or roles have the ability to view the pay components included in that segment. What is the name of the U.S federal payroll (or employment) tax imposed on both employees and employers to fund Social Security and Medicare? - Answers Federal Insurance Contributions Act (FICA) What is the term for the U.S individual income tax return? - Answers 1040 Maintain Pay Result - Balance Period Mapping - Answers You want pay results to show Amount and YTD. What task do you access to configure this display? You accessed the Edit Tenant setup - Payroll task and made the United States of America a supported country for Workday Payroll. However, you cannot access any U.S. specific task. What should you check to troubleshoot the problem? (3 correct answers) - Answers 1. Run a report to see if there are any pending security changes. 2. Verify that the USA Payroll function area is enabled. 3. Verify that your user has the needed security groups assigned. You want pay results to show Amount and YTD. What task do you access to configure this display? - Answers Maintain Pay Result - Balance Period Mapping You set up company taxes in the following order: - Answers Federal, State, Local Which task do you use to set up company tax ID numbers? - Answers Edit Company Tax Details T/F You need to configure tax reporting for each location the organization employs workers and pays taxes. - Answers True T/F If you have workers who travel to work in various locations, you can set up company taxes by location to accurately withhold taxes for time worked in those locations? - Answers True On the Maintain Tax Authority Exceptions Pay Component Groups report, when do you select Exclude Pay Component(s)? - Answers When the pay component is part of the group, but the tax authority treatment of it doesn't apply Before you can accurately report taxes for a worker, you must verify the following (3 correct answers) - Answers 1. The company is defined for federal and state taxes. 2. The employee is assigned to a company and a pay group. 3. Employee has a valid work and primary address in the U.S. T/F Security permitting, you can enter worker federal, state, and local tax elections manually or via a data load? - Answers True If self-service is enabled, which tasks can workers use to enter federal tax election themselves? (2 correct answers) - Answers 1. Withholding Elections. 2. Add Federal Withholding Elections T/F When employees work in multiple sates, cities or countries on an ongoing basis and do not report hours separately for each jurisdiction, you can have Workday calculate and withhold taxes for each jurisdiction based on percentages you specify? - Answers True What do supplemental wages include? (3 correct answers) - Answers Bonuses, Commissions, Overtime Pay, Payments for accumulated sick leave, Severance Pay, Awards, Prizes, Back pay, Retroactive pay increases, and Payments for nondeductible moving expenses T/F Workday only supports one supplemental tax rate for each state? - Answers False. Up to Two supplemental tax rates for each state T/F You can set up Workday Payroll to track unemployment data for employees whose primary work state is Washington or Wyoming? - Answers True An agreement that exists between different tax jurisdictions to determine where and how taxes are to be collected and remitted is known as a: - Answers Reciprocal Agreement T/F Workday treats all companies in the single legal entity relationship as a single company? - Answers True Which is a company relationship that establishes a one-to-many relationship between one managing company (designated as legal entity) and related companies? - Answers Single Legal Entity T/F Federal, state, and local tax configurations do not need to be the same for all companies in the single legal entity relationship. - Answers False T/F By default, Workday uses the common pay agent for Federal withholding and FICA taxes (minus FUTA)? - Answers True To create a single legal entity or common pay agent, which functional areas must you have security permission to access? - Answers USA Payroll, Organization and Roles T/F A pay component group is a set of related earnings, deductions, and pay component related calculations that return an aggregate value for use in payroll calculations and report? - Answers True Which report displays all Workday-delivered pay component groups? - Answers All Pay Component Groups Under the Fair Labor Standards Act, which employees are entitled to overtime pay? - Answers Non-Exempt What is the term for all payments made to the employee that are eligible under Fair Labor Stands Act? - Answers FLSA Wages What is the term for bonuses that are announced to employees to encourage them to work more steadily, rapidly, or efficiently? - Answers Non-discretionary bonus T/F FLSA is only required for special U.S. Workday Payroll customers. - Answers False Which of the following steps are included in the required configuration for FLSA? (3 correct answers) - Answers 1. Create an FLSA calendar. 2. Create earnings for overtime and premium pay. 3. Create an FSLA calendar rule. Retirement savings plans are first configured in which product area? - Answers Workday Benefits Which contributions are type of 401(k) contributions? (3 correct answers) - Answers 401(k) Elective deferral, 401(k) Employer match, 401(k) Roth T/F Workday supports payroll processing for tips? - Answers True What is a supported type withholding order? (3 correct answers) - Answers Bankruptcy, Creditor