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Administrator Guide
Last Updated: 2023-06-23
Create Banking Cash Pools

Create Banking Cash Pools

  • Set up an intercompany profile for multicompany cash pools.
  • Security:
    Set Up: Cash Pool
     domain in the Cash Management functional area.
Create a cash pool to combine your balances on a number of separate bank accounts into a single account. You can consolidate multiple subaccounts across companies, financial institutions, and currencies into a master account to:
  • Report on bank account balances and activity by cash pool.
  • Evaluate when to transfer funds across bank accounts based on the collective cash pool balance.
  1. Access the
    Create Cash Pool
     task.
  2. Select a company bank account to use as the master account.
    Workday aggregates the bank balances from the subaccounts to this master bank account in your structure.
  3. Select 1 or more subaccounts to link to the master bank account in the cash pool.
    You can add subaccounts either in the same currency or multiple currencies to the master bank account.
You can now manage your total cash balances in a centralized account. The cash pool enables you to optimize the interest paid and received on a pooled balance to improve liquidity management.
  • Use the
    Find Cash Pool
     report to find and view the cash pools for your organization. You can select these options from the related actions menu of a cash pool:
    • Edit
       to change any of the attributes. You can also add or remove subaccounts.
    • Copy
       to change the master account or subaccounts and save it as a new cash pool.
    • Inactivate
       to mark it as inactive so that it's unavailable for cash pool reporting.
  • Use these reports to view the cash pool balances and evaluate the need for transferring funds across your financial institutions:
    • Intraday Cash Pool Balance Summary
      : Displays the current day balances in reporting currency by cash pool using your intraday bank statements.
    • Prior Day Cash Pool Balance Summary
      : Displays the prior day balances in reporting currency by cash pool using your prior day bank statements.
    Workday uses the currency rate type that you select in the reports to translate the master and subaccount currencies to a single reporting currency.
    You select balance type codes to view the cash pool balances for the master and subaccounts. Workday automatically includes the closing ledger balance type codes for these bank statement file formats:
    • BAI2 – Type Code 015
    • BTRS – Type Code 015
    • ISO – Type Code CLBD
    • MT940/942 – Type Code 62F
  • Create bank account transfers for settlement to move funds across accounts within the same or different cash pools. You can transfer and settle the funds using the EFT or wire payment type.