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Administrator Guide
Last Updated: 2024-08-09
Example: Set Up Suspense Accounting

Example: Set Up Suspense Accounting

This example illustrates how to set up suspense accounting for accounting journals.
You set up suspense accounting for accounting journal sources so that when more than 50% of the journal lines are in error, Workday posts the journal entries to the suspense account.
  • Set up financial accounting structure.
  • Security: These domains in the Common Financial Management functional area:
    • Set Up: Accounting Rules
    • Set Up: Journal Source
  1. Access the
    Maintain Journal Sources
     task.
  2. Specify these details for the journal sources:
    Journal Source
    Enable Suspense Processing for Web Service
    Suspense Threshold Percent
    Accrual Journal
    Yes
    50
    Intercompany Journal
    Yes
    50
  3. Click
    OK
     and
    Done
    .
  4. Access the
    Create Suspense Account Rule
     task.
  5. Enter these values:
    Option Description
    Rule Name
    IRE-Suspense Account Rule
    Account Set
    Corporate
    Ledger Account
    1100:Suspense
    Balancing Worktag
    Cost Center
  6. Click
    OK
     and
    Done
    .
When you run the
Import Accounting Journal
 web service, Workday applies the suspense accounting rules:
  • Suspense processing completes if up to 50% of the journal lines are in error. When journal line errors exceeded 50%, then suspense processing stops. For the
    Intercompany
     journal source, 51% of the journal lines are in error. Only 20% of the journal lines for the
    Accrual Journal
     journal source are in error.
  • For the journal lines that are in error, Workday posts the suspended amount to the
    1100:Suspense
    Ledger Account
    .