Support for Alternate Account Sets and Fiscal Schedules
Preview Date: 2025-02-14. Production Date: 2025.05-02.
With this release, for OfficeConnect for Financial Management, Workday enables you to configure each reporting model with its own account set and fiscal schedule. End users can then report on alternate ledger accounts and fiscal schedules.
Business Benefits
- Meet local statutory reporting requirements using alternate account sets and fiscal schedules configured in separate reporting models.
- Use the primary or corporate account sets in a separate model for consolidation.
Changes
In the Set Up Reporting Model task:
- We now populate the options for Account Set and Fiscal Schedule fields based on the company accounting details of the companies in the company hierarchy that you select:
- If all companies in the hierarchy consistently use the same account set (primary or alternate), we populate the related account set as an option you can select.
- If all companies in the hierarchy consistently use the same fiscal schedule (primary or alternate), we populate the related fiscal schedule as an option you can select.
- If the Ledger Account is set to an alternate account set, then the Account Field option for Actuals (Journal Lines), Commitment, and Obligation versions is set to Alternate Ledger Account.
- The Account Field option for the Plan Lines version is always set to Ledger Account irrespective of the account set.
- The Account Field option for all other Versions is set to Ledger Account. If needed, you can change the account field.
- The account set and fiscal schedule that you select for a reporting model drives the account fields and time periods that end users can select for reporting.
What Do I Need to Do?
You must configure:
- Alternate account sets and mapping rules.
- Alternate fiscal schedules.
- A separate reporting model with the appropriate account set and fiscal schedule for local statutory purposes. This is different from the one available for your consolidation needs.
In the reporting model where you configure alternate ledger accounts, we recommend that you add the alternate accounts for Show Details.
What Happens If I Do Nothing?
You'll see no changes in Workday if you don't create additional reporting models.
Change Log
Feature Removed from Production Tenants
We revert this functionality from Preview and Production tenants.
Reversal Date: 2025-05-16