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Administrator Guide
Last Updated: 2024-09-20
Steps: Set Up Ad Hoc Bank Transactions

Steps: Set Up Ad Hoc Bank Transactions

During reconciliation, you often need to add ad hoc bank transactions to your account records for miscellaneous credits or debits that you find on bank statements. Examples: Wire transfer, online banking, or other bank fees. You can also create an ad hoc transaction to record an amount difference between a bank statement line and a matched operational transaction.
You can define templates to use when creating multiple ad hoc bank transactions with similar attributes. Workday uses the templates to create ad hoc transactions for the amount difference in matched lines and for first-notice items.
  1. (Optional) Configure intelligent prompt recommendations.
    When you create ad hoc bank transactions, you can select intelligently recommended values on these prompts:
    • Bank Account
    • Ledger Account
    • Revenue/Spend Category
  2. (Optional) Access the
    Maintain Ad Hoc Bank Transaction Purposes
     task.
    Define purposes to help identify why you created the ad hoc transaction.
    Security:
    Set Up: Bank Reconciliation
     domain in the Banking and Settlement functional area.
  3. (Optional) Access the
    Edit Tenant Setup - Financials
     task.
    Select the
    Exclude Bank Account Worktag on Ad Hoc Bank Transaction Accounting Lines
     check box in the
    Banking Options
     section to automatically exclude the bank account worktag from the offset accounting lines generated for ad hoc bank transactions.
    Security:
    Set Up: Tenant Setup - Financials
     domain in the System functional area.
  5. (Optional) Set up cash balance checking for ad hoc bank transactions.
    You can configure Workday to evaluate the cash ledger balance by primary balancing worktag prior to posting an ad hoc bank transaction withdrawal to your cash ledger account. When the ledger balance is positive, Workday automatically posts the ad hoc bank transaction entry to the ledger account. When negative, reviewers can approve or deny the cash balance check exceptions.
Create ad hoc bank transactions for manual or automatic bank and first-notice item reconciliations.