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Administrator Guide
Last Updated: 2023-06-23
Deposit Customer Payments

Deposit Customer Payments

  • Record customer payments.
  • Configure the
    Customer Deposit Event
     business process and security policy in the Customer Accounts functional area.
After recording a customer payment, you can deposit it into a financial account.
  1. Access the
    Create Customer Deposit
     task.
    • Specify the
      Company
       controlling the account in which you want to deposit the payment. Workday automatically uses the company currency for the deposit, but you can change the value to any currency.
    • (Optional) Select other criteria to limit the size of the payments list.
  2. Select the payments that you want to deposit.
    The list represents payments that you recorded using the
    Record Customer Payment
     task.
    As you complete the task, consider:
    Option Description
    Bank Account
    The account for depositing the payment. Ensure that this account accepts the payment currency.
    When the payment currency isn’t the same as the bank account currency, Workday uses the
    Currency Rate Type
     and
    Currency Rate
     to convert the deposited foreign-currency payments into the bank account currency.
    You can change the:
    • Default rate type on the
      Maintain Currency Rate Types
       task.
    • Default rate between the deposit and bank account currency on the
      Maintain Currency Conversion Rates
       task.
    Deposit Reference
    Helps you identify this deposit during reconciliation.
    Control Total Amount
    Compare the
    Total Deposit Amount
     of the selected payments to the desired control amount that you specify.
  • Workday creates accounting for this transaction.
  • When you submit the deposit, Workday initiates the
    Customer Deposit Event
     business process for review and approval. You can:
    • Review the deposit for details and edit as needed.
    • Send it back for revision.
    • Approve the deposit for adding the deposit to the defined bank account.
  • View the deposits with the
    Find Customer Deposits
     report.
  • Cancel and refund the deposit.