Steps: Set Up Companies

Security: Create: Company
domain in the Organizations and Roles functional area. See Steps: Set Up Security Permissions.

Set up the companies for which you want to:

Record business transactions.

Produce financial statements.

Create other statutory reports.

Companies are organizations within Workday that represent the internal business entities within your enterprise. In Workday Financial Management, companies are the primary organization for all business processes.

Set Up Nonsupervisory Organizations.

Access the

Create Company

task to set up your Workday company.

Workday recommends that you create a company for every internal entity that has a separate tax ID.

(Optional for USA companies only) Steps: Set Up a Single Legal Entity (USA).

Set up a company relationship where multiple companies roll up to a single managing company that serves as the reporting legal entity.

(Optional) Add Organizations to Hierarchies.

Add contact information for the company.

See Set Up Company Contact Information .

Set up company tax information.

See Steps: Set Up Payroll Taxes (USA).

See Steps: Set Up Payroll Taxes (CAN).

See Steps: Set Up Payroll Statutory Contributions (FRA).

See Steps: Set Up Payroll Taxes (UK).

Create ID Definitions and Sequence Generators

Specify how Workday constructs and formats IDs that it automatically generates in sequence for various financial transactions, transaction documents, and processes task.

Specify sequence generator ID definitions for various transactions, transaction documents, and processes throughout the tenant.

See Reference: Edit Tenant Setup - Financials.

Access the

Edit Company ID Definitions

task.

To help you determine what to override, Workday displays the tenant settings for reference. Enter sequence generator ID definitions that are specific to the company rather than the default tenant settings.

Define the fiscal schedule for your company.