Steps: Set Up Alternate Accounts
- Set up account posting rules for the corporate account set. See Set Up Account Posting Rules.
- Define alternate account sets.
Configure alternate account sets and alternate account set mapping rules to map the statutory or regulatory account set to the corporate account set. You can then:
- Enter ledger accounts in either the corporate or the alternate account set for the same company.
- Create financial reports and record transactions in your preferred account set.
- Drill down to see detailed information for a selected account set.
- Specify an alternate account set and default account set for the company.
Global Modern Services USA is a global company based in the USA that has a branch office in France. It has 2 companies:
- Global Modern Services USA.
- Global Modern Services FRANCE.
When posting journals to ledger accounts, the accountants use these account sets:
- USA - Corporate account set.
- FRANCE - French Statutory account set.
For the accountant in the USA, Workday uses the Corporate mapping rules for alternate account to derive the French Statutory ledger accounts. For the accountant in France, Workday uses the French mapping rules for alternate account to derive the Corporate ledger accounts.
Create individual or combined reports using the alternate and corporate account sets to review financial transactions.