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Administrator Guide
Last Updated: 2023-06-23
Steps: Set Up Position Budgets

Steps: Set Up Position Budgets

  • Create and approve a position restriction.
  • Determine the amounts to budget for compensation and fringe budgets, and identify how to allocate and account for those costs.
  • Define the
    Position Budget Event
     business process.
You can create position budgets and submit them for approval.
  1. Access the
    Assign Users to User Based Security Group
     task.
    1. Select the
      Finance Administrator
       user-based security group.
    2. Select the
      System Users
       for the group.
  3. Access the
    Create Account Set
     task to create ledger accounts.
    You can use an existing account set across multiple companies.
    • Payroll Commitment
    • Payroll Obligation
    • Payroll Earnings
    • Fringe Benefit Commitment
    • Fringe Benefit Obligation
    • Fringe Benefit Expense
    • Fringe Benefit Recovery
  5. From the
    Edit Company Accounting Details
     task, select the
    Fiscal Schedule, Account Set
    , and
    Account Posting Rule Set
     you created.
    The required currency for position budget accounting is US dollars (USD).
  6. Access the
    Ledger Period Journal Status
     report and open the periods.
  7. Create a budget structure with plan type of position.
  8. Create a budget template by associating a company with the budget structure.
  9. (Optional) If you upload position budgets into Workday, you can create a position budget group.
    Use the
    Position Budget Spreadsheet
     EIB to group position budgets into logical collections.
  10. Enter or upload position budgets in Workday:
    1. Enter position budgets using the
      Create Position Budget
       task.
    2. Upload position budgets into Workday.
  11. From the
    Create Position Budget
     or
    Submit Position Budget Group
     task, submit the position budget or position budget group.
  12. (Optional) Amend a budget to make changes to an approved position budget.