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Administrator Guide
Last Updated: 2023-09-08
Steps: Set Up Accounting Cash and Accounting Cash Pools

Steps: Set Up Accounting Cash and Accounting Cash Pools

You can define accounting cash and accounting cash pools using ledger accounts or ledger summaries to support cash balance check and claim-on-cash processes. You can configure overage options on individual balancing worktag or accounting cash pool levels to ensure you have enough cash available for settling payments or posting ad hoc bank transaction withdrawals.
  1. Set up worktag balancing.
    Define:
    1. The primary balancing worktag types and worktags to use for balancing journals.
    2. (Optional) A cash balancing rule to balance cash accounting entries by primary balancing worktag for each bank account.
  2. (Optional) Create balancing worktag hierarchies.
    Group related primary balancing worktags into hierarchies to use for accounting cash pools. Workday supports multiple levels of hierarchies and cash pools. The worktag types can include Workday-delivered business dimensions such as fund, business unit, or cost center, or your own custom organization.
  4. Create a custom label to override the default
    Accounting Cash
     label with a term specific to your organization. Workday replaces all instances of
    Accounting Cash
     that display on the
    Maintain Accounting Cash and Accounting Cash Pools
     task.
    Custom reports that you build using the Workday-delivered accounting cash report fields will only display the default label.
  5. Configure advanced cash balance checking.
    Configure the business processes and options used for assessing available ledger account cash prior to ad hoc bank transaction posts and payment settlement.
Your accounting cash definition and accounting cash pools are available for cash balance checks.