Steps: Create a Pooled Budget

Security Set Up: Budget General
in the Budgets functional area.

You can create a pooled budget with budget check enabled so that your organization's position transactions impact a position and financial budget simultaneously.

Pooled budgets are financial and award type budgets that you can share between multiple positions or staffing activities. You don't need to restrict a pooled budget to any 1 position or staffing model. Example: You have an annual pool of funds allocated for salary expenses for a department in your organization. Each staffing transaction gets checked against the pooled budget for that department. The unspent budget is the salary savings.

Workday requires budget check to use pooled budgets. Workday checks your financial or staffing transactions against a pooled budget only if the transactions belong to the Job Management staffing model.

Create a plan structure for the Position Budget.

See Define Plan Structures.

Create a plan template for the Position Budget.

See Create Plans or Budgets.

Create a plan structure for the Financial Budget.

See Define Plan Structures.

Create a plan template for the Financial Budget.

See Create Plans or Budgets

Create a Position Budget for the pool.

See Create Position Budgets

Create a Financial Budget with the same Ledgers, Structured Dimensions, and Worktags as the Position Budget.

Ledgers, Structured Dimensions, and Worktags for the Financial Budget must match those on the Position Budget.

Access the

Maintain Budget

task for the financial budget and add plan lines.

Submit both the Position and Financial Budget for approval.

See Submit a Plan or Budget for Approval

Access the

Edit Budget Check Options

task for the Financial Budget.

Select the

Enable Budget Check

check box.

Access the

Edit Budget Check Options

task for the Position Budget.

Select the

Enable Budget Check

check box.

You must enable budget check on both the Financial and Position Budget.

When your organization runs staffing transactions with the correct posting rules, they will impact the pooled budget you create with the position and financial budget.