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Workday Finance Tips & Tricks

Tips:

Establish these routines for more productivity.

  • Approve Time - We recommend adding a Monday morning reoccurring Outlook reminder to approve staff time both for the Manager and Timekeeper.
  • Workday Inbox - Review daily.  Any tasks that need an action will be there.
  • Workday Alerts (bell) - Review daily.  This is where your notifications live.  It may include reminders for processing transactions like P-Cards, T-Cards, notifications about your requisition (REQ), or Time Off Requests.  
  • Position Report - Review Quarterly your Personnel Positions listed in OPS and other areas to ensure accuracy of personnel being paid from the correct cost center and if any positions need to be ended. HOW:  Utilize the Budget vs Actuals report.  Remove the prepopulated options in the Ledger Account/Summary field then include one or all of the following options:  57000:OPS Technical Clerical Trade & Service; 56500:OPS-Other Professional Part time; and/or PBSC Account Set: Budget Personnel Expense. Note: If there are two identical options, select the second one.  Then expand your cost center and drill down on the blue dollar amount in the Actuals column for active staffing of personnel and positions. 
  • Re-Org - If departments are being reorganized, we strongly request finance be a part of the discussion early to enable a seamless transition with budgets.
  • PCard / TCard - Review these tasks weekly to see if anything is outstanding: 
    • "Verify Procurement Card Transactions for Worker" - if it is another person's procurement card within your team.
    • "Verify Procurement Card Transactions" - if it is your procurement card.
    • Note: Finance will be auditing PCard and TCard transactions on a monthly basis.  Notifications will go to supervisors and Vice Presidents for employees who are not adhering to the monthly timeframe of processing their transactions.  This is to ensure that the College properly reflects our expenditures for financial reports that are reviewed by the Administration and the Board on a monthly basis.
    • If you need a PCard or TCard, you can apply by "Create Request - Credit Card Application". Look for this job aid on the Workday Training site (college credentials required). 

Do you know these Key Points?

  • Purchase Orders (PO) 
    • Purchase Orders are for either goods or services.
    • Purchase Orders require receiving before an invoice payment is issued.
    • We should only be receiving goods or services in Workday for Purchase Orders that have been delivered or performed.  (This is a common misconception).
    • Create a receipt for each item when it has been delivered, but don't request receiving for the entire purchase order if we have NOT physically received all the goods.
      • How to CANCEL or SUBMIT for approval my draft receipt - Knowledge Base article
  • Expediting Invoice payments
    • Make sure suppliers reference the Purchase Order (PO) number on the invoice.
    • Have suppliers send a copy of the invoice directly to accounts payable for processing.  Payables@palmbeachstate.edu.  
  • Create Supplier Invoice Request 
    • Designed for specific spend transactions like Memberships, Dues for Institution; Recording Fees / Licenses; Legally required Advertisements – Public Notice; Academic Program Accreditation Fees; or Publications (no subscriptions), and typically do not exceed $5,000, these do not require a requisition for purchase order.  
    • Anything that has a contract should go through its own separate process of a requisition and P.O. This category would not qualify for a create supplier invoice request.
    • Check out the Workday Training site for job aids under "Workday HCM, Payroll & Finance Training For Staff".  Then click on the "Workday Financials-Accounts Payable, Budgeting, Banking, Grants, Cash Sales and AR" section.  Located under Accounts Payable.  (college credentials required). 

 

Tricks:

Ways of navigating in Workday

  • If it is Blue, it is a clue - Blue text allows you to drill down for more information by clicking on it.  
  • Right click on the blue to "See in New Tab" - By opening in another tab, this allows your original search to be intact on its own tab to refer back to. 
  • Search "All of Workday" or "Procurement" - When searching for finance related objects, it is helpful to utilize the navigation bar on the left by clicking on "All of Workday" or "Procurement" which helps narrow the search in Workday.  You could also "Change Search Preferences" by using the job aid under "Getting Started in Workday" on the Workday Training Resource page to have Workday use your preferences in future searches.

 

Budget vs Actual for Organization:

Description of what each column represents. 

The above Budget vs Actual for Organization represents a Fund 1 (College Operating Funds) budget which could also include Student Activities or Athletics.  Link: Budget vs Actual details - PDF

Other options are:

  • Grant Budget vs Actual for Organization - Fund 2 (Grant Funds)
  • Agency Budget vs Actual for Organization - Fund 6 (Agency Funds or Club Accounts)
  • Project Budget vs Actual for Organization - Fund 7 (Capital Outlay Funds)

Here is a guide to how the Academic Cost Center Reporting Structures are laid out.  Link: Academic Cost Center Reporting Structure - PDF

Money Monday Video:

These videos can be found on this link: Workday Training Resources for HCM, Payroll & Finance web page. Sign-in with your College credentials.  

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