Steps: Set Up Multicompany Awards

Set up awards in Workday to define the rules necessary to capture costs, calculate facilities and administration, and bill your sponsor.

You can set up multicompany awards to maintain intercompany transactions between a managing company and its affiliate companies. Multicompany awards enable you to:

Manage awards with a single company on the award header.

Capture spend for affiliate companies on the award line.

Eliminate intercompany transactions on customer invoices.

Bill the managing company for charges incurred by affiliate companies.

Calculate award costs processing for facilities and administration and revenue recognition separately for each affiliate company.

Access the

Edit Company Intercompany Profile

task and configure affiliate companies to enable intercompany transactions.

Select the

Initiate Allowed

check box to enable the company on the

column.

Select the

Record Intercompany Receipt

check box when you want Workday to generate intercompany receipts after completion of a settlement run.

Select an active bank account on the

Bank Account for Intercompany Receipt

prompt. Workday records the intercompany transactions with the company on the bank you select.

Security:

Set Up: Company Accounting
domain in the Common Financial Management functional area.

Set Up: Payroll - Company Specific (Accounting)
domain in the Core Payroll functional area.

Access the

Create Award

task to create your award.

To create a multicompany award, you can select award line companies that are different from the award header company, provided the award line companies are enabled to initiate intercompany transactions with the award header company in the intercompany profile.

See Create Awards.

Concept: Single Legal Entities

Steps: Set Up Awards