Workday Finance: Financial Accounting

Will Workday Finance replace Tidemark?

  • Workday Finance will not replace Tidemark.  However, Tidemark budgets will be loaded into Workday in mid-September 2017 to facilitate departmental reporting.

How will the chart of account structure (i.e. 3, 7, 8 accounts) be streamlined or changed?

  • All Financial Records System(FRS)/ Departmental Management Accounting System (DMAS) accounts will be transitioned into the new Chart of Accounts structure in Workday called the Financial Data Model (FDM).  To learn more about the FDM, please take the computer-based learning (CBL) module “FDM 101” available in ULearn. You can also reference a tip sheet available on the Workday Finance website.

What will happen to sub-object codes?

  • Sub-object codes translate to a Ledger Account OR Spend Category OR Revenue Category in Workday. The Workday Finance Team has developed a crosswalk, called the FRS/FDM Conversion Tool, to provide departments with an easily accessible tool to map sub-object code to Ledger Account OR Spend Category OR Revenue Category.  The FRS/FDM Conversion Tool is available on the Workday Finance website.

Will there be a translation table of account and sub-object codes from Financial Records System (FRS)/ Departmental Management Accounting System (DMAS) to Workday?

  • Yes, the Workday Finance Team has developed a crosswalk, called the FRS/FDM Conversion Tool, to provide departments with an easily accessible tool to map account numbers and sub-object codes to their Workday equivalents.

Will journals also be initiated though Workday, or will they still be submitted on paper?

  • All journals will be initiated through Workday and will go through an approval process. Workday journal functionality provides the ability to perform a variety of transactions, including the ability to move balances between accounts. 

How will Interdepartmental Requisites (IDRs) be processed in Workday?

  • IDRs will be handled two ways in Workday: through Internal Service Providers (ISP) and through accounting journals.
  • A list of approximately 70 ISP’s were identified for September 1 and those areas are being trained on the new functionality. For areas that are not an initial ISP, but who charge other areas for goods or services, please be sure you discuss with your Cost Center Manager to assign the role of Accountant to the people who perform this task today.
  • Research CORE labs, and certain other high volume areas, will be trained on the use of Internal Service Provider (ISP) functionality.  
  • To learn more about ISPs, please attend the Workday for Internal Service Providers (ISPs) instructor led training available in ULearn.  If you have been assigned the role of Accountant and need to learn how to complete accounting journals, please attend the Workday: Accounting Journals instructor led training available in ULearn.  You can also reference tip sheets available on the Workday Finance website.

Will batch numbers still be used when creating an accounting journal?

  • Batch numbers will be replaced by the audit trail of your first and last name within Workday, along with routing and progress of that routing. 

Can accounting journal lines be exported from and uploaded to Excel?

  • Whenever the Excel logo appears, that data may be downloaded into Excel. However, Workday does not allow this type of Excel file to be re-uploaded.

What is the process for adding a new FDM account to Workday?

  • To create an account for a Program, Project, or Gift, refer to the Controller’s office website. To create an account for a Grant, contact the Office of Research Administration (ORA).

Will spend authorizations and expense reimbursements be issued through direct deposit or by check?

  • Your payment election (i.e. direct deposit) in Ariba for payroll, spend authorizations, and expenses will be transferred over to Workday.

How do I initiate a petty cash replenishment?

  • Petty cash replenishments will be initiated via Create Journal in Workday by an Accountant on behalf of the custodian.  For additional information on opening, transferring and closing Petty Cash funds, visit the Controller’s Office’s website.  To learn more about Petty Cash replenishment, please attend the Workday: Accounting Journals ILT.  To register for this role-based training, log in to ULearn and search using the keyword: “Journals” or the complete course name “Workday: Accounting Journals.”
  • For additional information, please visit the Workday Finance website and search for “Finance Tip Sheets and Tutorials.”