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Administrator Guide
Last Updated: 2024-10-04
Edit Accounting Source

Edit Accounting Source

  • Configure an accounting source.
  • Edit enriched dataset.
  • Security: These domains in the Accounting Center functional area:
    • Set Up: Accounting Source - Maintain
      .
    • Process: Accounting Center
      .
You edit an accounting source to:
  • Define accounting groups that contain journal header and header line rules.
  • To generate detailed accounting, define journal header and header line rules.
  • Enter an effective date for accounting groups.
  • (Optional) Enter a transaction Grouping ID for the accounting source.
  • (Optional) Change the Data Change Task.
    You can't change the Data Change Task when a batch is in progress.
  • (Optional) Specify a new As Of Date for the accounting source.
  • (Optional) Configure your related worktag configurations to populate default related worktags automatically on Accounting Center detailed journal lines.
Before you edit an accounting source, ensure that Workday has successfully created the accounting source and all stages in the accounting source. To verify, access the
View Accounting Source
 report, select your accounting source, and confirm it has a status of
Awaiting Configuration
.
Creating multiple accounting groups for an accounting source enables you to create efficient accounting source configurations to support your business needs. Example: Accounting for a single transaction under multiple book codes.
For each accounting group you can:
  • To generate detailed accounting for the accounting group, specify separate header and journal line configurations.
  • Configure different journal header rules (Example: book code) and journal line rules.
  • Create accounting group condition rules for a transaction.
  • Generate more than 1 set of detailed accounting entries from a single transaction.
  • To generate detailed accounting for each accounting group, apply 1 or more accounting groups to each transaction in a batch.
  1. (Optional) Assign access to the
    Process: Accounting Center
     domain through a constrained Roles - Source System security group.
    When you grant a user access to a domain through a constrained security group, Workday limits access to each accounting source based on the user role.
  2. (Optional) Create Custom Account Posting Rule Dimensions and Custom Account Posting Rule Types. See Create Custom Dimensions and Custom Account Posting Rule Types.
  3. (Optional) If you want to default your related worktag values on Accounting Center detailed journal lines ensure, you:
    • Select
      Enable Worktag Type Precedence
       on the
      Maintain Worktag Type Precedences
       task.
    • You properly order Worktag Types from which you want to default related worktag values on the
      Order of Precedence
       list on the
      Maintain Worktag Type Precedences
       task.
    Before you enable or modify the configuration on the
    Maintain Worktag Type Precedences
     task, consider the impact this will have on operational transactions, accounting journals, and their corresponding web services.
  4. Access the
    View Accounting Source
     report.
  5. For
    Accounting Source
    , select the accounting source you previously created and click
    OK
    .
  6. (Optional) Create or select a Source System and contextually secure the
    Process: Accounting Center
     domain to the constrained Roles - Source System security group.
    When you grant a user access to a domain through a constrained security group, Workday limits access to each accounting source based on the user role.
  7. (Optional) Select a new
    Data Change Task
    .
  8. Click
    Edit Configuration
    .
  9. Enter an
    Effective Beginning
     date for the accounting group.
    The effective date must be the same or earlier than the value in the
    As Of Date
     field. Otherwise, you can have transactions that Workday can't process as the transactions are unable to find a matching configuration. Workday recommends you create your initial configuration with a date earlier than any transactions that you plan to bring into the Accounting Center.
    Each time you select
    Edit Configuration
    , you can:
    • Create a new snapshot for an existing accounting group by entering a new effective date.
      For existing Accounting Groups, Workday automatically populates the effective date of the current snapshot of the selected Accounting Group. You can change the effective date.
    • Create an initial snapshot for a new accounting group.
    • Edit an existing snapshot of an accounting group, by selecting the accounting group and entering the same effective date as the snapshot you want to edit.
    Workday, therefore recommends that before you edit your configuration, you:
    1. Access the
      View Accounting Source
      .
    2. Click
      Effective Date Snapshots
       to check if you have prior snapshots in your Effective Date history.
  10. For
    Accounting Group
    , select
    Create New
     and enter an
    Effective Beginning
     date to create a snapshot for a new accounting group.
  11. Click
    OK
    .
  12. As you create a new accounting group, consider:
    Field
    Description
    Accounting Group Name
    Enter a unique name for the accounting group.
    Condition Rule
    Select a condition rule for the accounting group.
    Workday applies the accounting group condition rule to a transaction if the condition rule is met.
    Condition rules are specific to an accounting source. You can use condition rules across all accounting groups and journal line rules in the same accounting source, but can't use same condition rules in another accounting source.
    You can create condition rules for the accounting group from the
    Create Accounting Source Configuration Rule
     task, which you can also access from this field.
    If you don't select a condition rule, Workday applies the accounting group to all transactions in the batch.
    For Many to 1 transactions, all rows with the same Grouping ID must pass the accounting group condition rule to generate detailed accounting.
  13. Click the
    Journal Header Rules
     tab.
  14. As you complete the task, consider:
    Field
    Description
    Ledger Company
    Ledger Type
    Journal Source
    Map the source data to the corresponding Workday field type. The mapping enables you to select a value from the data source when configuring the accounting source.
    Otherwise, you must select from a list of instance values in your tenant when configuring your accounting source.
    Accounting Date
    Map the source data to the corresponding Workday field type. The mapping enables you to select a value from the data source when configuring the accounting source.
    Is the date the journal posts to the ledger. You can use this date to determine the period to post the journal entry to.
    Select the date of the transactions from the enriched data source. Workday retrieves the value for the Date field in the enriched data source.
    Accounting date is usually the same as the As of Date, but can be different. This enables you to have an accounting source configuration date earlier than the journal posting date. It's similar to transaction and accounting date in Workday.
    Book Code
    (Optional) Select a book code for the accounting group.
    Either select a field from your source data or select an instance value.
    You can select a separate book code for each accounting group based on your reporting requirements. Example: For the same accounting source, you can select a GAAP book code for 1 accounting group and Local GAAP Adjustments book code for another accounting group.
    Memo
    Optional
    This value will only carry forward to detailed accounting, and won't populate summarized journals.
    External Reference ID
    This value will only carry forward to detailed accounting and won't populate summarized journals.
    Create Reversals
    Optional
    Select if you want to create a reversal for transactions on the first day of the next available period.
    Alternative Reversal Date
    Optional
    Include this field if you:
    • Create reversals.
    • Want to use a date other than the default option, which is the first day of the next period.
    The alternate reversal date must be in your enriched data and formatted as a date.
    Currency Rate Type
    Is available only when you select
    Enable Multicurrency
    .
    Select values from either the enriched data source or a list of values in your tenant. If you select
    None of the above
    , Workday uses the default currency rate type for the company. If no company rate type is specified for the company, Workday uses the default currency rate type in your tenant.
  15. Click the
    Journal Line Rules
     tab.
  16. As you complete the task, consider:
    Field
    Description
    Condition Rule
    Optional
    Workday evaluates and posts transactions to specific ledger accounts based on rules you create.
    Condition rules are specific to an accounting source. You can use condition rules across all accounting groups and journal line rules in the same accounting source, but can't use same condition rules in another accounting source.
    You can create condition rules from the
    Create Accounting Source Configuration Rule
     task, which you can also access from this field.
    If you don't create a condition rule, Workday processes this row for every data row in your file.
    Line Company
    Optional
    Leave as the default value unless you’re configuring intercompany accounting. Workday automatically populates the value from the Ledger Company on the
    Journal Header Rules
    tab.
    For intercompany transactions, you can select values either:
    • From the enriched data source.
    • List of values in your tenant.
    Ledger Account
    Map the source data to the corresponding Workday field type if you want to select a value from the data source when configuring accounting source.
    Otherwise, you must select a value from a list of values in your tenant, or a posting rule type (including custom posting rule type).
    Additional Posting Rule Dimensions
    Optional
    Must enter a value when you select a posting rule type in the
    Ledger Account
     field.
    Map your source data column to the Custom List that you created for a custom account posting rule dimension. See Create Custom Dimensions and Custom Account Posting Rule Types.
    When using a posting rule, this field should contain valid posting rule dimension data for the specified posting rule type.
    Add dimensions from your posting rule type here, including configured custom posting rule dimensions.
    Don't add the
    Company
     dimension, as Workday automatically derives the dimension.
    Transaction Amount
    Amount in the transaction currency.
    Select from the enriched data source. Unless you enable multicurrency for the accounting source, you must enter the transaction amount in the company ledger currency.
    Transaction Currency
    Select from the enriched data source or a list of values in your tenant.
    Ledger Amount
    Leave this blank, if you want Workday to convert source transactions to your ledger currency.
    If you’ve already converted to ledger amount, select from the enriched data source.
    Worktags
    Optional, but Workday recommends that you map 1 or more fields to worktag dimensions. Workday persists the worktags on your summary journals in the ledger. The worktags summarizes your detailed accounting entries.
    When you select the
    Enable Tax Details
     check box, specify these worktags:
    • Required Worktags:
      • Tax Applicability
      • Tax Code
      • Tax Rate
    • Optional Worktags:
      • Tax Recoverability
      • Tax Point Date Type
        : Workday automatically includes a
        Tax Point Date Type
         value of
        Transaction Date
         on all detailed journal lines resulting from a tax-enabled journal line rule. To configure the
        Tax Point Date Type
         worktag on a tax-enabled journal line rule, select the
        Enable Tax Point Date Configuration for Transaction Taxes
         option under
        Tax Options
         on the
        Edit Tenant Setup - Financials
         task.
        A
        Tax Point Date Type
        value that you configure through the journal line rule will take precedence over the default value.
      Workday prevents you from configuring
      Tax Authority
       or
      Tax Category
       worktags on a tax-enabled journal line rule. Workday derives these worktags from the
      Tax Rate
       and automatically populates them on the resulting detailed journal line.
    Worktags you specify here are displayed in both detailed and summarized accounting.
    Interworktag Affiliate
    Optional, specify an interworktag affiliate value to process transactions with the affiliate value when you balance detailed and summary journal lines by the required balancing worktag.
    You can apply interworktag affiliate values when you enable primary worktag balancing in your tenant.
    Enable Default Related Worktags
    Select the check box to populate default related worktag values that are derived from the worktag values from your enriched transactions.
    This can reduce the need to define these worktag values using mapping tables, lowering the ongoing maintenance of your mapping tables.
    Workday will only default Worktag types that you select on the
    Worktags
     prompt for each journal line rule.
    A worktag value from your enriched data will always take precedence over a default related worktag value.
    Workday considers the related worktag values added to your detailed journal lines:
    1. When evaluating the account posting rule for the journal line rule, if applicable.
    2. When evaluating detailed accounting custom validations, if applicable.
    3. In summarization, and includes them on the resulting Accounting Center summary journal lines.
    You can only select the Enable Default Related Worktags option if you enable the
    Worktag Type Precedence
     task.
    Additional Attributes
    Optional, but Workday recommends that you include 1 or more fields of additional attributes.
    Include any other attributes that you want to include in addition to worktags. Example: Agent Number, Policy Number.
    Additional attributes won’t carry forward to summary journals in the ledger, but are available for reporting in your detailed accounting results.
    Reconcile to Bank
    Select the check box if you want to reconcile summarized cash journal lines.
    Journal lines you select are available for reconciliation and displays a Transaction Reference if there’s one.
    You can then match the selected journal lines with your bank statement. See Steps: Use Bank Account Reconciliation.
    Transaction Reference
    Only assign a transaction reference if you’ve enabled
    Reconcile to Bank
     option. A transaction reference helps you in reconciling cash journal lines with your bank statement line.
    Workday displays the transaction reference on the journal line during summarization.
    Enable Tax Details
    Select this check box to report on transaction taxes on the resulting journal lines.
    If you enable the check box, you must define tax attributes on the
    Tax Details
     field, and specify the required worktags on the
    Worktags
     field.
    Tax Details
    When you select the
    Enable Tax Details
     option, you must define these required tax attributes:
    • Taxable Transaction Date
    • Tax Type
      : When you specify
      Tax Paid
       or
      Tax Self-Assessed
      , you must specify a
      Tax Recoverability
       worktag value on the resulting detailed journal line. Otherwise, Workday derives the
      Tax Recoverability
       from
      Tax Applicability
      .
      A
      Tax Recoverability
       value that you configure through the journal line rule will take precedence over the value that Workday defaults from
      Tax Applicability
      .
    • Taxable Amount
    • (
      Optional) Tax Recoverability Type
      : Workday defaults the
      Tax Recoverability Type
       from the
      Tax Recoverability
       worktag during the Detailed Accounting Stage processing. When you use a
      Partially Recoverable Tax Recoverability
      worktag, you must define a
      Tax Recoverability Type
       override of either
      Fully Recoverable
       or
      Non recoverable
       on the journal line rule. You cannot specify a
      Tax Recoverability Type
       value of
      Partially Recoverable
      .
    The value you enter in the
    Tax Recoverability Type
     field overrides the value that defaults from the
    Tax Recoverability
     worktag.
  17. Click the
    Summarization Rules
     tab to review how Workday groups and summarizes journals for all accounting groups in the accounting source:
    1. Summarized Journal Header Fields: Displays journal header summarization logic.
    2. Summarized Journal Line Fields: Displays journal line summarization rules, including all tax reporting worktags and attributes.
    Workday excludes additional attributes in summarization, but makes them available for reporting in your detailed accounting.
    Workday uses the
    Primary Journal Currency Rate Type
     for grouping journal entries when generating journals from detailed accounting.
  18. Click
    OK
     and then
    Done
    .
Create accounting center batches.