Reference: Cash Management Capabilities

You can view high-level feature descriptions for the capabilities in this product area.

AI Powered Bank Reconciliation

Supports reconciling bank statement lines to reconcilable items based on historical matching patterns. The functionality provides the ability to:

Recommend matches for bank statement lines and operational transactions that are not automatically reconciled.

Suggest bank reconciliation matching rules to improve automated bank reconciliation.

Supports managing bank account information in Workday. The functionality provides the ability to:

Configure cash pools.

Configure company bank accounts.

Designate bank account signatories.

Record or import account fee statements from banks.

Supports reconciling bank statement lines to operational transactions. The functionality provides the ability to:

Create operational transactions using bank statement lines with first-notice rules.

Configure matching rules to reconcile bank statement lines.

Perform reconciliation of bank statement lines.

Reconcile bank statement lines with a group of electronic payments.

Record or import statements from banks.

Provides the ability to:

Assign worktags.

Extract business information from bank statements.

Import bank statement files using supported formats.

Perform bank reconciliation.

Supports forecasting and managing cash inflows, outflows, and bank account balances. The functionality provides the ability to:

Build cash forecast structures and models.

Group cash activities.

Record cash activities that originate outside Workday.

Report on forecasted cash balances, payments, and receipts.

Provides the ability to create ad hoc bank transactions, payment requests, and bank account transfers. The functionality supports the ability to:

Initiate and settle transfers between bank accounts.

Issue one-time payments.

Record cash transactions and bank transfers executed outside of Workday.

Provides the ability to create one-time payments to miscellaneous payees. The functionality supports the ability to:

Create single-use miscellaneous payees that automatically become inactive after settlement.

Create payment requests that automatically pay from company bank accounts using bank routing rules.

Set up self-service users to create and manage the payees and payment requests they initiate.