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Administrator Guide
Last Updated: 2023-06-23
Steps: Create and Use Model Workbooks

Steps: Create and Use Model Workbooks

Create a cash forecast outline.
You can create a model workbook in Worksheets to add live operational data from custom reports to populate your cash forecasts. You can calculate projected cash activities on the data using standard spreadsheet functions. When you generate a cash forecast, you can merge it with a model workbook to automatically populate the cash activity values. A model workbook functions as a template that you can reuse for future cash forecasts.
  1. Create an advanced report.
    You can create a custom report that contains operational data to link to your model workbook. Operational data can include:
    • Ad hoc payments.
    • Bank account transfers.
    • External cash activities.
    • Intercompany payments.
    • Supplier invoices.
    • Tax payments.
    Enable the custom report for:
    • Web services.
    • Worksheets.
  2. (Optional) In Drive, create a folder structure with multiple model workbooks for cash forecasts.
    You can create separate model workbooks for intraday, weekly, and monthly forecasts. In each model workbook, you can add multiple worksheets as tabs to link the custom report data.
    You can also upload external files to Worksheets to use as model workbooks. Example: Excel spreadsheets that you've populated with forecasted cash activities.
  3. (Optional) Share a model workbook with other users.
    You can collaborate with other users in your organization by sharing your model workbook. Example: You share the model workbook with a payroll analyst who has access to payroll data in summary reports useful for cash forecasting.
  4. Add live data from your advanced reports to the worksheet tabs.
    You can create pivot tables to manage, calculate, and analyze the extracted data more efficiently. You can include only the report values in the tables that are relevant for your cash forecast.
    You can also create a separate sheet as part of the model workbook for tracking data ownership, notifications, and adding formulas.
  6. Merge your model workbook into the cash forecast worksheet.
    This enables you to use Workday operational data as a base and add calculations to project your future cash activities.
  7. Link and refresh live data in your cash forecast workbook.
    You can extract operational data from your model workbook to link to the cash activities in your cash forecast entry area. When you refresh Worksheets, your cash forecast and model workbook update based on changes to the operational data, such as new supplier invoices or modified bank statements.
  8. (Optional) Apply mathematical calculations on the cash activity values to derive projected amounts.
    Example: Add a 20% increase to the expense payment amounts every month.
    You can also enter mathematical formulas directly in the cash forecast entry area to calculate values such as the
    Balance Carry Forward
    .
You can use your completed model workbook as a template for different cash forecasting scenarios. This template helps to minimize the repetitive manual step of data extraction.