Workday for Finance Professionals

Workday will be used to manage payments made to and from the Universities of Wisconsin, including processing payments and printing checks. Banking in Workday uses functionality for automatic bank reconciliation and payment application.

Quick Links

• Reconcile Bank Statements
• Settlement Run
• Print Checks
• Request to Void Check

Browse Banking and Settlement Job Aids for Finance Professionals

Workday will be used to manage business assets (also known as fixed assets). Each university is responsible for maintaining accurate capital equipment records, including but not limited to book value, depreciation, and federal ownership. Workday will also be used as our system of record for biannual physical inventory requirements.

Quick Links

• Request to Dispose of an Asset
• Issue an Asset
• Share an Asset
• Transfer an Asset

Browse Business Assets Job Aids for Finance Professionals

The customer accounts processes (also known as accounts receivable) in Workday will be used to manage customer invoices and collection of revenue. These processes in Workday maximize the Universities of Wisconsin’s collection of delinquent accounts receivable and minimize the administrative cost of those efforts.

Quick Links

• Customer Invoice Event
• Request Customer Refund
• Bad Debt Write-Off
• Create Customer Deposit

Browse Customer Accounts Job Aids for Finance Professionals

Workday Expenses will be used to submit expense reports, track expense reports through the approval process, and reconcile credit card transactions. Some support staff may submit expense reports on behalf of others.

Quick Links

• Create Expense Report
• Addressing Fraudulent Charges on a UW Credit Card
• Submitting Expenses on Behalf of Other Employees
• Find Expense Report Status and Spend Authorization Status

Browse Expense Reports Job Aids for Finance Professionals

Financial accounting in Workday occurs on an accrual basis and includes accounting adjustments and journals. Accounting adjustments are created for adjustments of settled operational transactions, such as supplier invoices or expense reports. Accounting journals are used to move partial costs or transfer revenues between Worktags.

Quick Links

• Create Accounting Journal
• Create Accounting Adjustment

Browse Financial Accounting Job Aids for Finance Professionals

Internal service delivery (ISD) in Workday refers to processes related to internal billing actions both within and between the Universities of Wisconsin.

Quick Links

• Request Internal Catalog Items
• Request to Become an Internal Service Provider
• Create Internal Service Delivery

Many actions related to inventory management — such as stocking, tracking, and replenishing internal goods and supplies — will happen in Workday. ShopUW+ will be used to handle other parts of the inventory process, like creating a requisition for inventory fulfillment.

Quick Links

• Replenish Inventory
• Create a Receipt for Inventory Replenishment
• Move Inventory
• Adjust Inventory

Costing allocations provide the funding details related to payroll transactions in Workday. Costing allocations are set up during various stages of HR business processes and can also be managed ad hoc.

Quick Links

• Assign Costing Allocation
• Payroll Accounting Adjustment

Workday will be used to create requisitions, purchase orders, and receipts, and to manage supplier accounts. Some steps in the end-to-end procurement process, like catalog shopping, will take place in ShopUW+.

Quick Links

• Create Requisition for Non-Catalog Order
• Create Requisition for Catalog Order
• Issue Purchase Order
• Create Change Order
• Create Supplier Invoice Request

Browse Procurement/Purchasing Job Aids for Finance Professionals

Many actions related to capital and non-capital projects will happen in Workday.

Planning and approval of capital project initiatives will happen outside of Workday, while financial transactions for capital projects will be recorded in Workday for analysis and regular financial reporting. Actual transactions for Universities of Wisconsin-managed projects will be processed in Workday and recorded to the project, while transactions for state-managed capital projects will be routed from the Department of Administration to Workday.

Quick Links

• Create and Amend Project Budget
• Capital Equipment Fabrication Request
• Create and Capitalize Project Asset(s)