Concept: Position Budgets
Position budgets provide your organization capabilities to establish
position budgets, which you can use for budget checking when implementing position control.
You track position budgets at the position level for the fiscal year. The fiscal year budget
is adjusted throughout the year to reflect changes such as compensation and staffing
modifications.
When setting up position budgets, you can specify the structure dimensions
to include in your position budget. The available dimensions are from payroll, and include
cost center, region, location, and pay component. Your structured dimensions provide reporting
capabilities and accounting functions in Workday.
By specifying budget check options, you can compare submitted position
budgets against the available budget and determine whether the budget is sufficient. Approvers
have insight for making decisions and taking appropriate actions.
You can also compare position budgets against actuals without using payroll
commitments and the corresponding accounting results. This enables you to report on position
budgets without performing position control.
Position Budget Year
