Create Position Budgets from Commitment Accounting

Create a budget for the fiscal year.

Set up approved positions.

Define approval steps in the Create Position
business process.

If you plan to load position budgets into Workday, create the inbound Import Position Budget EIB from the predefined template.

Configure the Position Budget Event
business process and corresponding security policy.

Run the

Create Initial Payroll Commitments

task to calculate the payroll commitments for a position.

Create a budget based on the current commitment accounting for a specific position. Workday leverages payroll commitments, obligations, and actuals to generate compensation and fringe details based on the fiscal year and account dimensions on the position budget structure.

If you create multiple position budgets at once using the

Mass Generate Position Budgets

task, Workday automatically creates these position budgets from payroll commitment journals.

Access either:

The

Create Position Budget

task.

The

Create Position Budget for Organization

task.

Select the

Auto-Populate Plan Lines

check box.

(Optional) From the

Compensation Information

tab, view the default compensation assigned to the position. This information includes these amounts to assist you in determining values for this position budget:

Compensation range maximum.

Compensation range midpoint.

Compensation range minimum.

Workday generates a position budget and budget lines for compensation and fringe benefit amounts based on payroll journal entries in these statuses:

Created

Posted

Reserved

Workday reserves a payroll commitment or obligation adjustment for budget after passing budget check and multiple approvals.

Workday groups the budget lines by the dimensions on the budget structure with current costing allocations (percent splits, worktags, and compensation and fringe benefit amounts) for the position. The fringe rate automatically populates from the fringe benefit payroll commitment rule.

If no commitment accounting exists, Workday displays the

Edit Position Budget

task for manual entry. On this task, Workday only creates the position budget if you click

Submit

Save for Later

Create Initial Payroll Commitments