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Administrator Guide
Last Updated: 2024-01-12
Average Daily Balance Reporting with OfficeConnect

Average Daily Balance Reporting with OfficeConnect

Create an OfficeConnect report with the data for which you want to generate average daily balances. See Create Basic OfficeConnect Reports.
Review these topics to familiarize yourself with OfficeConnect terminology, such as account element, date elements, labels, and so on:
Review these topics to familiarize yourself with OfficeConnect and Financial Management:
You can calculate and report on the average daily balance using OfficeConnect for Financial Management for any:
  • Given account.
  • Multiple accounts.
  • Account summary over different time spans.
This enables you to assess interest required against the respective balance averages.
If you want to validate or verify a cell amount in OfficeConnect, you can use Expand or Expand to Leaf Level on the parent Time element in OfficeConnect. Then, switch the Amount Type for its children to Ending Balance.
Similarly, if you want to get to-date ending balances for each day in an Average Daily Balance cell, you can:
  • Apply a Time Context, such as Period to Date.
  • Use Expand or Expand to Leaf Level on the parent Time element in OfficeConnect.
Because Workday calculates Average Daily Balance on daily ending balances, Workday doesn’t display journal line rows with the Show Details function when you use Average Daily Balance in OfficeConnect. To view the daily ending balances, you can expand the time element of the ending balance to daily or leaf level node.
Differences Between OfficeConnect for Average Daily Balance and Average Daily Balance Job Processing
Average Daily Balance in OfficeConnect for Financial Management:
  • Is calculated in real time.
  • Doesn't require you to run the Average Daily Balance job that requires the Report Writer.
  • Doesn't require you to create Average Daily Balance rules and assign them to a company.
  • Supports currency translation.
  1. Log in to OfficeConnect.
  2. Open the OfficeConnect report that you created.
  3. In the report, select and highlight the row, column, or cell for the data that you want to convert to Average Daily Balance.
  4. In the
    Elements
     tab, expand
    Dimensions
     and then
    Amount Type
    .
  5. Right-click
    Average Daily Balance
     and then select
    Apply to Selection
    .
  6. From the Toolbar, click
    Refresh
    .
    Workday updates the highlighted data to display the Average Daily Balance for the selected time period.
  7. (Optional) Click the
    Review
     tab to confirm that the amount type is Average Daily Balance.
  8. (Optional) From the Toolbar, click
    Label
     to apply descriptive text in your report for some of the elements you’ve used. See Steps: Add Report Labels.
    Examples:
    • Use Amount Type as a label type to help display the amount type name of Average Daily Balance or Ending Balance.
    • If using Time Context, use both the Time and Context label types to display them together. Example: June Year to Date.
  9. (Optional) To apply to-date average daily balances for the data in the report, you can use Time Context.
    1. Highlight the time period in the report to which you want to apply to-date balances.
      Example: To calculate period to date average daily balances, select monthly time period in your report.
    2. For the selected time period, from the Toolbar, select
      Expand
      .
      Workday displays all days in the selected time period.
    3. Select the days in the selected time period.
    4. In the
      Elements
       tab, expand
      Time
       and then
      Context
      .
    5. Select the relevant Time Context.
      Example:
      • If you’ve highlighted and expanded the monthly time period, right-click
        Period to Date
         and then select
        Apply to Selection
        .
      • If you’ve highlighted and expanded the Quarter time period, right-click
        Quarter to Date
         and then select
        Apply to Selection
        .
    6. Select the values that you want to display or hide and then select
      Keep Only
       or
      Remove Only
       from the toolbar. See: Steps: Explore Reports Using Ad Hoc Analysis.