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Administrator Guide
Last Updated: 2023-09-08
Create Ad Hoc Bank Transactions

Create Ad Hoc Bank Transactions

  • Configure the
    Ad Hoc Bank Transaction Event
     business process and security policy in the Banking and Settlement functional area.
  • Security: These domains in the Banking and Settlement functional area:
    • Process: Ad Hoc Bank Transaction (New)
    • Process: Ad Hoc Bank Transaction – Add Attachment
    • Process: Ad Hoc Bank Transaction – Add/Change Attachment
    • Process: Ad Hoc Bank Transaction – Cancel
    • Process: Ad Hoc Bank Transaction – Change
    • Process: Ad Hoc Bank Transaction – Copy
    • Process: Ad Hoc Bank Transaction – Core
    • Process: Ad Hoc Bank Transaction – Reporting
    • Process: Ad Hoc Bank Transaction – View
You can create matching Workday entries for bank statement entries such as bank fees, interest payments, or discounts.
  1. Access 1 of these tasks:
    • Create Ad Hoc Bank Transaction
    • Create Ad Hoc Bank Transaction from Template
  2. As you complete the
    Ad Hoc Bank Transaction Information
     section, consider:
    Option Description
    Date
    The date to use for the ad hoc transaction. When you create an ad hoc transaction for bank reconciliation, you can change the default date to match the corresponding bank statement line date.
    Currency
    Workday uses the currency of the transaction bank account by default.
    When you change the transaction currency, the currency must be on the acceptable list for the bank account. Also, set up exchange rates:
    • From the transaction currency to the bank currency for the transaction rate type.
    • From the bank currency to the company currency for the default rate type.
  3. As you complete the
    Ad Hoc Bank Transaction Details
     section, consider:
    Option Description
    Difference
    Verify that the difference is zero to ensure that the
    Transaction Amount
     you entered and the
    Ad Hoc Bank Transaction Lines
     total are balanced.
    Tax Amount
    Indicates the sum of the calculated tax amounts from taxable ad hoc bank transaction lines, based on the tax code you specify for each line. You can use the figure for tax reporting.
    To override this tax amount, change the
    Tax by Tax Rate
     on the
    Tax
     tab.
    Tax amounts are inclusive and don't change gross transaction amounts.
  4. As you complete the
    Accounting Options
     section, consider:
    Option Description
    Exclude Bank Account Worktag on Lines
    Select to exclude the bank account worktag from noncash accounting lines and add it to only cash lines for ad hoc bank transactions.
    Example: You can exclude the worktag on line company expense journal entries for intercompanies that don't have access to the bank account.
    Eliminate Foreign Exchange Gain or Loss
    Select to exclude realized foreign exchange gain or loss from ad hoc bank transactions.
    Example: If you override the currency conversion rate with a bank rate from your statement, the difference between the 2 values creates a realized exchange gain or loss journal entry.
    When you select the check box, Workday eliminates this additional journal entry line and applies the difference to the expense or revenue journal entry.
  5. As you complete the
    Ad Hoc Bank Transaction Lines
     tab, consider:
    Option Description
    Revenue/Spend Category
    The revenue or spend category links transaction line amounts to corresponding account posting rules to post to ledger accounts.
    Tax Applicability
    Select a tax applicability option to calculate recoverable and nonrecoverable tax amounts for each tax rate in the tax code. You can use tax applicability to filter transactions in reporting.
    Tax Recoverability
    Workday automatically populates the recoverable percentage on the transaction line based on the specified tax applicability and tax code. When you change the tax recoverability, Workday applies the recoverable percentage and allocation method to the tax amount for tax rates within the tax code.
    Use the
    Maintain Tax Recoverabilities
     task to specify the tax recoverability of multiple tax rates for each tax code.
  6. Use the
    Tax
     tab to review a summary of all the tax codes and their applicability, as specified on the ad hoc bank transaction lines. When several lines share the same tax applicability, Workday consolidates them and calculates the amount total with this tax.
  7. (Optional) When you update tax on an ad hoc bank transaction line, click
    Update Tax
     for Workday to recalculate the tax displayed in the header and
    Tax
     tab.
Workday routes the completed ad hoc bank transaction for approval. The ad hoc bank transaction displays in the specified ledger account.
If you configured cash balance check for ad hoc bank transactions, Workday evaluates the cash ledger balance prior to posting an ad hoc bank transaction withdrawal to your cash ledger account.
Review ad hoc bank transactions for the specified company using the
Find Ad Hoc Bank Transactions
 report. From the related actions menu of an ad hoc bank transaction, you can:
  • Add or remove attachments for ad hoc bank transactions in any status without additional actions or business process approvals.
  • Cancel the ad hoc bank transaction.
    You can only cancel unreconciled ad hoc bank transactions.
  • Change the ad hoc bank transaction.
    If you created the ad hoc bank transaction from a template, Workday disassociates the template from a changed transaction. The ad hoc bank transaction retains the information applied from the template.
    If you enabled the option to prevent changes to operational transactions in closed periods on the
    Edit Company Accounting Details
     task, you can't change ad hoc bank transactions processed in a closed period.
  • Copy the ad hoc bank transaction to create other ad hoc transactions that you can modify.
  • View the accounting.