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    Workday Financials Introduction

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    Niki Lin
    This document provides an overview and agenda for a presentation on Workday Financials at Yale University. The presentation will cover an overview of Workday and its objectives at Yale, key functions and features, roles within Workday, Yale's chart of accounts, and next steps. Workday aims to simplify and standardize processes, minimize administrative work, lower costs, and provide accurate and timely reporting. It will integrate financial, HR, academic, and research information. The presentation will discuss impacted systems, the project timeline, and functions in Workday like expenses, purchasing, and grants management. It will also cover the chart of accounts, Workday roles and who can do what, and next steps before go-live like training and preparation.

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    © All Rights Reserved
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    Workday Financials Introduction

    Uploaded by

    Niki Lin
    297 views23 pages
    This document provides an overview and agenda for a presentation on Workday Financials at Yale University. The presentation will cover an overview of Workday and its objectives at Yale, key functions and features, roles within Workday, Yale's chart of accounts, and next steps. Workday aims to simplify and standardize processes, minimize administrative work, lower costs, and provide accurate and timely reporting. It will integrate financial, HR, academic, and research information. The presentation will discuss impacted systems, the project timeline, and functions in Workday like expenses, purchasing, and grants management. It will also cover the chart of accounts, Workday roles and who can do what, and next steps before go-live like training and preparation.

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    Workday Financials Introduction

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    This document provides an overview and agenda for a presentation on Workday Financials at Yale University. The presentation will cover an overview of Workday and its objectives at Yale, key functions and features, roles within Workday, Yale's chart of accounts, and next steps. Workday aims to simplify and standardize processes, minimize administrative work, lower costs, and provide accurate and timely reporting. It will integrate financial, HR, academic, and research information. The presentation will discuss impacted systems, the project timeline, and functions in Workday like expenses, purchasing, and grants management. It will also cover the chart of accounts, Workday roles and who can do what, and next steps before go-live like training and preparation.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    297 views23 pages

    Workday Financials Introduction

    Uploaded by

    Niki Lin
    This document provides an overview and agenda for a presentation on Workday Financials at Yale University. The presentation will cover an overview of Workday and its objectives at Yale, key functions and features, roles within Workday, Yale's chart of accounts, and next steps. Workday aims to simplify and standardize processes, minimize administrative work, lower costs, and provide accurate and timely reporting. It will integrate financial, HR, academic, and research information. The presentation will discuss impacted systems, the project timeline, and functions in Workday like expenses, purchasing, and grants management. It will also cover the chart of accounts, Workday roles and who can do what, and next steps before go-live like training and preparation.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 23

    Workday Financials

    Introduction

    Workday@Yale
    April 18, 2017
    Agenda

    • Overview

    • Functions and Features

    • Roles

    • Chart of Accounts

    • Next Steps
    Overview

    Workday@Yale
    Workday@Yale Objectives

    Make it easier Minimize


    Lower Provide
    to get work administrative
    Simplify and operating accurate,
    done work for
    standardize costs and trusted,
    and harder faculty,
    processes improve and timely
    to make students
    effectiveness reporting
    mistakes and staff
    Meeting the evolving needs of higher
    education.

    Workday integrates financial, HR, academic, and research information to offer:


    • Frequent releases that optimize the system
    • Flexible reporting to meet changing needs
    • Mobile access and self-service – anytime, anywhere
    Community and Communication Impacts
    ~250 Central
    ~6,600 ~4,500 Managers Finance Groups
    and Professional ~200 Lead
    Faculty, Postdocs, Administrators and
    Fellows Staff Operations Managers
    ~150 Service Teams

    ~100 Senior
    Leadership

    ~3,900
    Clerical Workers
    and Technicians
    Program Team

    Workday@Yale Team Members Service Group Members

    162 66

    Local Communication and


    Support Members Support Center Staff

    262 300+
    Impacted Systems

    Systems
    We are working to ensure Critical for
    that Workday information Go-Live 92
    flows smoothly between
    existing systems such as
    the ID system, SciQuest, Other People Data
    Financial
    Facilities, etc. Systems 81 Only 81
    and People
    Data 34
    Where necessary, we are
    making changes to those
    existing systems.
    Financial
    Data Only 58
    Timeline
    2017 2018
    Jan-Mar Apr-Jun Jul-Sept Oct-Dec

    Financials Go-Live

    Training

    Post Go-Live Support


    User
    (including YSS, ESC, ITS Help
    Testing
    Desk)
    Weekly Updates, Supervisor
    Updates, Information Sessions
    Prepare for
    Go-Live

    HR/Payroll/Academic Optimization

    Financials Optimization
    Functions and
    Features of
    Workday

    Workday@Yale
    Workday Features

    Employee Self Service Workday Mobile Software-as-a-Service Workday Inbox

    • Workday is built for • Enter expenses via • Adopting a Software- • Notifications of


    staff to be able to the mobile app as-a-Service (SaaS) Business Processes
    help themselves find • Take pictures via financial system will requiring action will
    information and take put Yale at the arrive in the Workday
    receipts
    action on their own forefront of Inbox
    • Receive notifications enterprise technology
    • Staff may access old • Automated email
    via the mobile app
    expense reports to • Regularly updated— notifications
    check status of • Access your inbox just like your phone’s unavailable
    payments operating system
    • Track procurement • Cloud hosted for
    processes like POs greater efficiency
    and Requisitions and security
    Financial Functions Moving to Workday

    • Award Setup • Purchase Requisitions


    • Subawards through SciQuest
    • Effort Certification • Expenses (EMS)
    Grants
    • Cash Advances
    • Check Requests
    • Invoice Payments
    • Vendor Setup

    • Payroll Costing
    Finance and
    • Journal Entries
    Asset
    • Endowments and Purchasing and Expenses
    Management
    Spendable Gifts
    • Commitments
    • Moveable Asset
    Inventory
    • Cash Sales (RIF)

    Financial Monitoring : Financial Management and Transaction Monitoring Reports


    Mobile Expenses Capabilities
    Workday Roles

    Workday@Yale
    Workday Roles: Who Does What

    Workday ROLES:
     Are assigned to Positions
     Determine function in a business process (i.e. initiate,
    approve, etc.)
     Determine what you can see and do in Workday
     Provide access to data within the assigned cost center

    POSITIONS:
     A Position is the “seat” that a specific Worker occupies Workers are hired into Positions and
     A Position does not refer to a job title inherit the Workday role(s) of the
     May be assigned one or many Workday roles Position
    Chart of
    Accounts

    Workday@Yale
    What is the Chart of Accounts (COA)?
    Today we call it … Tomorrow we will call it … What is it?
    Oracle Chart of Accounts Workday Chart of Accounts General term to describe the full set of data points used for
    Chart of Accounts Chart of Accounts standard accounting and financial reporting.
    COA COA In Workday this includes delivered pieces of the Workday
    Financial Data Model (FDM) and also some worktags that are
    configured by Yale.

    COA Segments COA Segments Each individual piece of the chart of accounts – the buckets.
     Oracle Project, Org, etc.
     Workday Program, Cost Center, etc.
    The list of values for each segment are called the “segment
    values”.

    Charging Instructions Charging Instructions Accounting string - PTAEO


    PTAEO
    Expenditure Type Ledger Account COA segment used for general ledger accounting (revenue,
    expense, assets, liabilities)
    Next Steps

    Workday@Yale
    Workday@Yale Website

    19
    Preparing for Go-Live

    Just prior to Go-Live there may be a brief “pause” in


    some financial activity.

    We are developing a plan now to prepare you for Go-Live and will share
    more information in the coming weeks, including:
    • Cutover Dates
    • Impacted Systems
    • Interim Steps
    What’s Next

    • Become an ambassador of change


    • Familiarize yourself with your local Change Network participants
     Do you know who your Change Partner is?
     Do you know who your Local Workday Guru is?
    • User Acceptance Testing, April 17 – May 19
    • Sign up for training
     End-User Training begins May 22

    21
    Community Engagement

    • Attendance is encouraged at upcoming awareness and training sessions

    • Watch training videos posted on www.workday.yale.edu

    • Provide feedback and contact [email protected] with any questions

    • Find more information at www.workday.yale.edu


    Questions
    & Discussion

    Workday@Yale

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