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Administrator Guide
Last Updated: 2023-06-23
Steps: Manage Bank Account Signatories

Steps: Manage Bank Account Signatories

  • Define bank accounts.
  • Configure the
    Bank Account Signatories Event
     business process and security policy in the Cash Management functional area.
You can create and maintain records of employees or external committee members who are authorized to sign for a bank account on behalf of the account owner. You can also report on signatory changes and notify users when a signer is no longer valid.
  1. Access the
    Create Signer
     task.
    Configure an employee or external committee member as a signer.
    Security: These domains in the Cash Management functional area:
    • Set Up: Signer
    • Set Up: Secured Attachment for Signer
  2. Access the
    Maintain Authority Types
     task.
    Define authority types to track the number of signers needed to approve transactions. You can define an authority type as single or joint.
    Security:
    Set Up: Bank Account Signatory Information
     domain in the Cash Management functional area.
  3. Access the
    Maintain Signature Methods
     task.
    Create signature approval types for signers such as on call, online, or wet signature.
    Security:
    Set Up: Bank Account Signatory Information
     domain in the Cash Management functional area.
  4. Access the
    Create Bank Account Signatories
     task.
    You can select people to act as signers for a bank account and apply authority limits to the actions they can take. You can define the authority limits using the bank account currency, or override it with a different currency for particular signers.
  5. (Optional) Access the
    Mass Update Signatories
     task.
    You can remove a signer from a specific bank account or from all assigned bank accounts.
    Security:
    Process: Bank Account Signatory
     domain in the Cash Management functional area.
  6. (Optional) Configure business processes to receive notifications when signers change job positions, external committee membership, or leave the company.
    Add the
    Step Configuration Placeholder Service
     step with notifications to these Workday HCM business processes:
    • Change Job
    • Manage Committee Membership
    • Submit Resignation
    • Termination
    Based on the notification type, you can remove the signers from bank account signatories or modify their authority limits.
Use these reports to track and maintain signers:
  • Bank Account Signatories Exceptions
    : Displays the inactive signers for your company or bank account.
  • Find Bank Account Signatories
    : Displays all approved bank account signatories and the signatory details.
  • Find Historical Changes in Bank Account Signatories
    : Displays all the changes to bank account signatories between the dates you specify.