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Administrator Guide
Last Updated: 2023-06-23
Steps: Use Endowment Accounting

Steps: Use Endowment Accounting

Create donors and donor contributions, set up gifts, and record investment pool activity to process investment pool valuations and payout distributions. Workday enables you to manage your gifts, endowment income distributions, and reinvestments in the investment pool.
  1. Access the
    Create Donor
     task.
    Create a donor to identify and maintain information about each individual or campaign that contributes a gift.
    Security:
    Set Up: Endowments
     domain in the Endowment Accounting functional area.
  2. Create gifts.
    • (Optional) Create Basic Gifts.
    • Access the
      Create Gift Hierarchy
       task.
      Use gift hierarchies to group related gifts together for viewing in financial statements and other reports. You can add basic gifts by gift purpose or gift type, or full-featured gifts to a hierarchy.
      You can assign gift hierarchies to specific roles and positions. Only workers with roles assigned to a gift or gift hierarchy can view the gift information.
      Security:
      Set Up: Endowments
       domain in the Endowment Accounting functional area.
  3. Access the
    Create Donor Contribution
     task.
    Create a contribution to record donor cash transactions that fund the gifts.
    You can track the purpose of the donor contribution using the
    Designation
     field.
    Configure the
    Donor Contribution Event
     business process and corresponding security policy in the Financials: Cash and Settlements: Cash Management functional area.
  4. Manage gift transactions.
    • (Optional) Access the
      Adjust Gift Units
       task.
      If you want to change the total number of units on a gift, you can adjust the units up or down using the
      Adjust Gift Units
       task. This changes the fair market value for the gift without affecting its net book value.
      Workday updates the book value when you decide to transfer, purchase, or reinvest units in the investment pool.
      Configure the
      Investment Pool Adjustment Event
       business process and corresponding security policy in the Financials: Cash and Settlements: Cash Management functional area.
  5. Manage a pool valuation.
    • Access the
      Record Investment Statement
       task.
      Record investment pool activity provided on investment statements. Workday uses this activity to determine the fair market value for the investment pool.
      The entered ending balance must equal the calculated ending balance. Workday treats positive values entered for line types (associated with spend categories) that reduce fair market value (such as fees) as negative values in the calculations.
      Configure the
      Investment Statement Event
       business process and corresponding security policy in the Financials: Cash and Settlements: Cash Management functional area.
    • Access the
      Record Investment Pool Valuation
       task.
      Record an investment pool valuation for investment statements entered for a given period. The task resets the pool share price based on the current fair market value of the investment pool. You can continue purchasing shares in the pool when the valuation is complete.
      Security:
      Process: Endowments
       domain in the Endowment Accounting functional area.
  6. Manage pool payout.
    • (Optional) Access the
      Run Catch-up Payout
       task.
      You can run a catch-up payout distribution for a gift after running a payout distribution for the period. The payout reallocates income to beneficiaries, or purchases new units for gifts requiring reinvestment.
      Security:
      Process: Endowments
       domain in the Endowment Accounting functional area.
Use Workday standard reports to view your investment pool activity.