Concept: Accounting and Operational Journals
There are 2 types of journals in Workday:
- Accounting journals: The journals that accountants create manually for accounting purposes. Workday doesn't automatically tie these journals to transactions.
- Operational journals: The journals that Workday creates automatically for operational transactions that you enter through the various Workday transaction tasks.
Reversals
You can generate reversal journals in Workday when you change or cancel an approved operational transaction or when you reverse a posted accounting journal. The reversal journals provide a complete audit trail of the journal entries. They enable you to comply with legal requirements in countries where you can't modify or cancel a posted journal.
Workday creates reversals of accounting or operational journals when you select 1 of these options at the tenant level on the
Edit Tenant Setup - Financials
task:
- Always Reverse Accounting and Accounting Center Summary Journals
- Always Reverse Operational and Noncontrolling Interest Journals
Reverse
option on the related actions menu of posted accounting journals. Otherwise, Workday displays the Unpost
option.Workday provides a
Reverse Journals
task that you can use to reverse a journal not marked for automatic reversals.Example: You forget to select the
Create Reversal
check box when creating a journal. You access the Reverse Journal
task to reverse the missed journal.Workday strongly recommends using the
Reverse
option on the related actions menu of posted accounting journals for all other journal reversal needs to ensure data integrity as the Reverse Journal
task bypasses approvals.