Concept: Time Context with Average Daily Balance
You can use Time Context based on the Financial Reporting Data model in OfficeConnect to calculate to - date average daily balances. Time Context enables you to build a report over a specified to - date range. Example: Period to Date, Quarter to Date, or Year to Date.
Example: You can apply a Quarter to Date time context element for a single period (Feb) to get Jan 1 – Feb 28, or can apply the time element for a specific date (Feb 17) to get Jan 1 – Feb 17.
To use Time Context, you must have the latest OfficeConnect client installed. See Check Your OfficeConnect Version.
When using Time Context with Expand or Expand to Leaf Level, Workday recommends using it with the same to - date anchor period. It can be a year, quarter, or period. Example: YTD + Year (2023), QTD + Quarter (FY23-Q2), or PTD + Period (FY23-May).
OfficeConnect expands time that is based on the parent time anchor and its hierarchy in the Elements tab. Example: If you specify May+QTD, OfficeConnect will only expand for the month of May. If you want to see the average daily balance for the full 2nd quarter (April1 to June 30), you must specify Q2+QTD.
You can use Time Context like Period to Date for a specific date. Example: If you want to calculate average daily balance till Jan 15, you can specify Jan 15 + PTD. However, if you use a specific day or date, you can expand it as the day has no leaf - level children.
To see PTD average daily balance for only Jan 1-6, use Jan+PTD, expand it, and then use the Keep Only or Remove Only options to keep or remove the necessary rows. Similarly, you could use Q2+QTD, expand it, and keep or remove the necessary rows.
If you aren’t using Time Context, OfficeConnect calculates the average daily balance only for the period end. Example: If the time period in the report is quarter and you don’t specify Quarter to Date, OfficeConnect only calculates the average daily balance for the quarter. When you expand the quarter to daily, the expanded balances are daily ending balances and not average daily balances.