Concept: Plan Structures

Plan Types

Workday uses your

Plan Type

selection to determine the type of plan structure.

Plan Type	Description
Award	Use this structure as the basis for award budgets (such as grant awards for sponsored research). You can use award budgets to control spend during spend and staffing transactions.
Award Proposal	Use this structure as the basis for preaward budgets (such as grant awards for sponsored research). You can use award proposal budgets to control spend during spend and staffing transactions.
Financial	Use this structure as the basis for financial plans and when creating parent-child plan hierarchies. You can use financial plans to control spend during spend and staffing transactions.
Position	Use this structure as the basis for position budgets. You can use position budgets to control position approval during staffing events for organizations with position management staffing models.
Project	Use this structure as the basis for project budgets. You can use project budgets to forecast expenses and revenue for your projects.

Schedule and Plan Entry By

Workday uses your

Plan Entry By

selection to create each time period that you define a plan or budget for.

Plan Entry by	Description
Period	Base the periods on the periods of the fiscal schedule or award schedule.
Summary Schedule	Base the periods on a summarized group of fiscal or award periods, such as quarterly or half yearly.
Duration	For financial plans and position budgets, a single period that spans the entire time frame of the plan or budget.

For financial plans and position budgets, Workday uses your fiscal schedule together with your

Plan Entry by

selection and time frame to create periods and duration. Your

Schedule

selection must match the fiscal schedule for:

The companies you plan by, as set on the

Edit Company Accounting Details

task.

The company hierarchies you plan by, as set on the

Edit Consolidation Details

task.

For award and award proposal budgets, Workday uses your award schedule and

Plan Entry by

selections to create your budget periods and duration. You can define your award schedule on the

Create Award Schedule

task.

Use fiscal or award years to ensure that the same years and periods are always available for comparison between plans and actuals.

Structured Dimensions

Structured dimensions determine whether transactions are subject to budget. If a transaction has worktags that match the structured dimension criteria, the transaction is subject to that budget.

To enable budget checking, you must use structured dimensions.

For company hierarchies, you can only select company hierarchies with subordinate companies that use the same:

Account set.

Currency.

Fiscal schedule.

Fringe

Consider disabling fringe when:

Workday doesn't include fringe benefits on your commitments, obligations, or actuals.

You don't budget for fringe.