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Administrator Guide
Last Updated: 2024-09-20
Steps: Migrate from Deriving Noncontrolling Interest to Persisted Noncontrolling Interest

Steps: Migrate from Deriving Noncontrolling Interest to Persisted Noncontrolling Interest

  • Set up your tenant to derive noncontrolling interest. See Set Up for Deriving Noncontrolling Interest.
  • Security: These domains in the Financial Accounting functional area:
    • Process: Noncontrolling Interest
    • Process: Noncontrolling Interest Opt-In
  • Configure the
    Noncontrolling Interest Run Event
     business process and security policy in the Financial Accounting functional area.
If you currently derive noncontrolling interest (NCI) and want to start using persisted NCI, you can update your configuration to do so.
You can choose to revert from persisted NCI back to derived NCI at a later date.
  1. Access the
    Maintain Elimination Rules
     task.
    • Migrate all elimination rules from the
      Investment in Subsidiary / Subsidiary Equity (To Be Retired)
       tab to the
      Intercompany / Interworktag
       and
      Noncontrolling Interest Activity
       tabs as applicable. For more information, see Preconfigured Content: Guide to Updating the Investment in Subsidiary Elimination Rule.
    • On the
      Noncontrolling Interest Activity
       tab, select the
      Direct Ownership Only (Always Select)
       check box for all NCI rules.
    Security:
    Set Up: Consolidation
     domain in the Financial Accounting functional area.
  2. Access the
    Noncontrolling Interest Journal Lines Opt-In
     task.
    Confirm all checklist items, and select both of these check boxes:
    • Report Noncontrolling Interest Journal Lines
    • Run Noncontrolling Interest by Direct Ownership
    You don't need to have created beginning balances, as directed by the first checklist item. Confirm the checklist item and you can create the beginning balances after you opt in.
  3. Use 1 of these methods to create NCI balances for companies, book codes, currencies, and fiscal periods that you want to report on:
    • Schedule the
      Run Noncontrolling Interest
       task for the top-level consolidated reporting hierarchy and periods that you want to report on.
    • Upload NCI results for each period using the
      Put Noncontrolling Interest Result
      web service.
Workday will now calculate and persist NCI results, enabling you to:
  • Report on NCI journal lines.
  • Calculate NCI for all companies in which a parent company has direct or indirect ownership, regardless of whether they are in the same company hierarchy.
Schedule or run noncontrolling interest.