Account Certifications

Overview

The Workday Account Certification application allows you to track the entire reconciliation and certification process in Workday without the need to export data into third-party spreadsheets or systems. You can create a standardized business process workflow that routes the certification for approval based on your business requirements.

Objectives

By the end of this chapter, you will be able to:

Configure the domains and business processes necessary to run account certification.

Create account certification sets.

Assign security.

Set up reporting.

Run account certification.

Security Policies

As you deploy Workday, you will configure security policies to ensure the appropriate security groups have the right permissions. This chapter covers the following security groups, domains, and business processes.

Security Groups

Finance Administrator
: This user-based security group has unconstrained access to create and maintain all financial setup data. Examples include financial institutions, financial accounting data, ledgers, journal sources, account control rules, fiscal schedules, items, and taxes. No approval authority.

Controller:
This role-based security group can view all financial operational data for assigned companies. Approval authority for all financial business processes.

Preparer Account Certification
: This role-based security group prepares account certifications. Assign this role directly to an account certification, not to an organization.

Approver Account Certification
: This role-based security group approves account certifications. Assign this role directly to an account certification, not to an organization.

Domains

Topic	Functional Area	Domain
Account Certifications	Financial Accounting	Setup: Account Certifications Setup: Account Reconciliation Templates Process: Account Certifications

Business Processes

Account Certification Event

Business Process: Account Certification

Before configuring the Account Certification Event business process, first consider the needs of individual companies and company hierarchies. Also consider if one business process definition will meet the needs of your client. Workday also recommends you incorporate the Account Certification Event into period close.

You can also set up condition rules to auto-certify accounts that meet certain criteria. For example, if an account has a zero balance and is below a certain threshold, you can configure the business process to auto-certify accounts. When configuring condition rules based on thresholds, consider using absolute values to ensure the tests of thresholds capture all transactions/balances.

Certification Sets and Definition Details

Account Certification Sets in Workday determine the accounts your client wants to certify. While you can configure multiple Account Certification Sets for a company, Workday recommends you have only one Account Certification Set per company. Alternatively, you can configure Account Certification Sets for a company hierarchy, but all companies within the hierarchy must use the same currency, fiscal schedule, and account set.

After choosing the company/company hierarchy for an Account Certification Set, you can select the following criteria to certify accounts:

Ledger Account/Ledger Account Summary

Balance or Activity

Book

Worktags

Priority

Additionally, Workday allows you to enable worksheets for Account Certification Sets. The worksheets are part of the Unified Solution, so that Workday automatically refreshes new data in the worksheets.

You can store Policy, Purpose, and Procedure documentation for each account certification in Workday.

Security for Account Certification

Assign security directly to an Account Certification, not to the related company/company hierarchy or other organization in Workday. On the task Maintain Assignable Roles, there is an option in the 'Enabled For' column to select Account Certification. Workday delivers roles for the preparer and approver. Additionally, you can configure a reviewer role.

Setup Reporting

Workday delivers an Account Certification Dashboard to help report on the certification/reconciliation process. Additionally, you can use the report Find Account Certification
to find previously certified accounts. You can use the report Decertification Details
to automate account decertification or to decertify individual accounts.

Before running the Account Certification Dashboard, there are a few prerequisites:

Create a Ledger Account Summary of all balance sheet accounts.

Map the standard alias _BS_Balance_Sheet_Accounts to the Ledger Account Summary.

Security: Process: Account Certifications - Reporting
domain in the Financial Accounting functional area.