Configure Worktag Balancing for the Tenant

Administrator Guide

Determine which worktag type to use as the balancing worktag for your tenant.

Create a worktag balancing transaction rule set to associate balancing rules with transactions.

You can plan the business dimension you want to use as your balancing worktag. Workday doesn't require you to enable balancing worktag for your tenant. Once you enable balancing worktags, you can't change it or disable it. Workday assigns the required balancing worktag to the offset side of journals for all financial transactions that use balancing rules.

Access the

Maintain Worktag Balancing Configuration

task.

As you complete the task, consider:

Option	Description
Worktag Type	Worktag types are groupings of worktags by a business dimension: Business unit Region Fund Custom organization Select the worktag type to balance journals for transactions subject to worktag balancing. Your choice determines the rule sets available for selection within this task. For Workday Student, you must include the Fund Worktag Type option.
Worktag Balancing Transaction Rule Set	When Workday generates accounting for operational transactions, it evaluates the rule set to determine which balancing worktag to apply to the offset side of the journal. You can only select from the rule sets of the selected worktag type. You can later change the rule set. For any transaction in progress, Workday applies the rule set in effect when the transaction is completes. For Workday Student, select Fund on the Default Worktag for Unapplied Student Payments field.

Option

Description

Worktag Type

Worktag types are groupings of worktags by a business dimension:

Business unit

Region

Fund

Custom organization

Select the worktag type to balance journals for transactions subject to worktag balancing.

Your choice determines the rule sets available for selection within this task.

For Workday Student, you must include the Fund
Worktag Type option.

Worktag Balancing Transaction Rule Set

When Workday generates accounting for operational transactions, it evaluates the rule set to determine which balancing worktag to apply to the offset side of the journal. You can only select from the rule sets of the selected worktag type.

You can later change the rule set. For any transaction in progress, Workday applies the rule set in effect when the transaction is completes.

For Workday Student, select Fund
on the

Default Worktag for Unapplied Student Payments

field.

For the current period forward, all journals must balance by a worktag of the selected worktag type. Workday uses the selected rule set to determine the worktag to balance the operational transaction journal.