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Administrator Guide
Last Updated: 2023-06-23
Assign Future Payment Plans to Employees

Assign Future Payment Plans to Employees

  • Create a future payment plan.
  • Security:
    Worker Data: Compensation by Organization
     domain in the Core Compensation functional area.
You can assign 1 or more future payment plans with a target to pay out to employees:
  • Over several bonus and one-time payments, and
  • A final true up process at the end to calculate the outstanding balance to pay.
A future payment plan assignment is a package of assigned plans with an effective date.
Workday recommends that you have only 1 assignment per true up period. If the plan is paid out or processed and you want to assign a new target for the next period, make a new assignment.
  1. Access the
    Assign Future Payment Plans
     task.
    This task is also available as a related action off the employee, under Compensation, provided a future payment plan is assigned.
  2. Select the
    Effective as of
     date.
    An assignment of future payment plans is effective from this date until the day preceding the next set of assignments or forever if there's no subsequent set of assignments. You can't create 2 sets of assignments with the same effective date.
    The first time you create an assignment for an employee, Workday uses the eligibility rules associated with future payment plans to determine whether the employee matches the criteria. If the employee is eligible, Workday automatically populates Assign Future Payment Plans with this data. If the employee doesn't match any eligibility rule, Workday displays no plans.
    For subsequent assignments, Workday automatically pulls in all current plans and creates an entry for processed plans.
    If you create an assignment that has an earlier
    Effective as of
     date, Workday uses the eligibility rules to determine which plans to display.
  3. Consider:
    Option Description
    Individual Target
    If you've enabled individual targets on the plan, you can enter an amount.
    Processed
    Indicates that the
    Complete Future Payment True Up Bonus
     has been run.
    You can't delete a plan that has the
    Processed
     check box selected.
When you create an assignment of future payment plans to the employee, you must carry forward existing ones. If they aren't, Workday removes them from the employee.
You can use the
Complete Future Payment True Up Bonus
 task to calculate the outstanding balance of a future payment or a bonus plan in tranches.