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Administrator Guide
Last Updated: 2023-06-23
Steps: Set Up Asset Accounting for Multiple Books

Steps: Set Up Asset Accounting for Multiple Books

Set up asset accounting.
You can account for a single asset in multiple books to apply different accounting treatments and depreciation profiles.
Workday uses book codes to track the financial transactions posted for the lifecycle events of these assets. You can combine the book codes to create reporting books based on your accounting needs.
You can't disable multibook asset accounting after you enable it.
  1. Access the
    Edit Tenant Setup - Financials
     task.
    In the
    Business Assets Options
     section, select the
    Enable Multibook Asset Accounting
     check box.
    Security:
    Set Up: Tenant Setup - Financials
     domain in the System functional area.
  2. Access the
    Maintain Book Codes
     task.
    Create adjustment book codes for each accounting asset book that your company uses.
    Security:
    Set Up: Ledger and Book
     domain in the Common Financial Management functional area.
  3. (Optional) Create a manual journal entry to move the opening asset ledger account balances from the common book code to each adjustment book code.
  4. Access the
    Maintain Books
     task.
    Create reporting books that include your adjustment book codes.
  5. Create a
    Multibook Settlement
     ledger account and define the account posting rules for it.
  6. Create additional accounting asset books and add them to your company.
    Assign a book code to each accounting asset book, including the primary book.
  7. (Optional) Load your assets in the new books with beginning balances.
  8. (Optional) Access
    Workday Standard Reports
    .
    Create before and after reports to reconcile any changes made to an existing Workday installation.
    Select the
    Business Assets
     and
    Set Up Business Assets
     categories to view standard reports for assets.
    Security:
    Custom Report Administration
     domain in the System functional area.