Skip to main content
Documentation
Documentation
Administrator Guide
Last Updated: 2023-06-23
Calculate Outstanding Balances for Future Payment Plans

Calculate Outstanding Balances for Future Payment Plans

  • Assign future payment plans.
  • Security:
    Process: Compensation Plan Events
     domain in the Core Compensation functional area.
As the Compensation or HR Administrator, you can calculate the outstanding balance of a future payment or bonus plan in tranches. The target pool represents the amount still owed for the total true up pool.
The
Compensation History
 report displays all aspects of employee compensation.
This process doesn't address any salary changes during the period. If an employee in a future payment plan gets a salary increase during the period, the bonus calculation for that period might be higher. This might result in a lower target bonus during the true up process. The overall target bonus for an amount-based true up remains the same, regardless of salary fluctuations. For a percent-based true up, the overall target bonus fluctuates with salary changes.
  1. Access the
    Complete Future Payment True Up Bonus
     task.
  2. (Optional) Select
    Target Pay Date From
     and
    Target Pay Date To
     to narrow search results.
  3. (Optional) Select 1 or more
    Organizations
     to narrow search results.
  4. For each employee in the future payment plan, enter a
    Bonus Amount
     and a
    Target Payment Date
    .
    Workday pays the amount you enter on the date you select.
You configure a future payment plan to consider multiple bonus and one-time payment plans. The target for the employees is 25,000 USD. In Quarters 1, 2, and 3, Workday pays the employees 6,250 USD and a one-time payment of 3,000 USD. The true up process calculates the outstanding balance as 3,250 USD.