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Administrator Guide
Last Updated: 2023-06-23
Steps: Perform Bank Account Transfers

Steps: Perform Bank Account Transfers

Configure these business processes to define review and approval workflow for bank account transfers:
  • Bank Account Transfer Event (main process): Controls review and approval routing for bank account transfers within the same company.
  • Bank Account Transfer Intercompany Event (subprocess): Controls review and approval routing when a bank account transfer spans companies; enables the company receiving the transfer to review and approve the transaction.
Use Workday bank transfer functionality to record and maintain information about bank account transfers.
The actual movement of cash is performed outside of Workday. These tasks simply record and account for the movement of cash between different accounts.
  2. (Optional) Set up and use templates to record multiple bank account transfers with similar attributes.
    2. Access the
      Create Bank Account Transfer from Template
       task.
      Select the template to use for creating the bank account transfer. You can specify the amount to transfer, and modify the defaulted transfer details as necessary. Once completed, you can route the bank account transfer for approval using the
      Bank Account Transfer Event
       business process.
      Security:
      Process: Bank Account Transfer
       domain in the Banking and Settlement functional area.
  3. Complete a bank account transfer that you saved for later.
When the transactions transfer between the bank accounts in Workday, Workday converts:
  • The transaction currency to the bank account currency if they differ.
    You can override the rate type and rate for this conversion.
  • The bank account currency to the company currency if they differ.
    Workday automatically converts the transaction amount into the ledger company currency using the conversion rate between the 2 currencies for the default rate type.
Use the
Find Bank Account Transfers
 report to view and update the transfer information. As a related action on a bank account transfer, you can:
  • Change, copy, or cancel the transfer.
  • View the accounting details.