Concept: Book Codes and Books
You can use book codes and books to record and segregate transactions for financial
reporting.
Book Codes
Workday associates all accounting transactions to a book code. You can define book
codes for your financial transactions based on your reporting requirements. Example:
You can define:
- A Generally Accepted Accounting Principles (GAAP) book code to record GAAP adjustments.
- An International Financial Reporting Standards (IFRS) book code to record International IFRS adjustments.
- A Tax Adjustment book code to record tax adjustments.
You can also create additional book codes to meet specific requirements for your
reporting requirements.
Workday posts operational transactions to the Blank book code.
Book
You can group book codes together into books for financial reporting. A book rolls up activity
from one or more book codes, including the Blank book code. A book code can also
belong to multiple books.
Common Book
The Common Book includes accounting transactions in the Blank book code, which are
primarily operational journals.
This table provides guidelines of how you can define books and book codes in Workday:
Names of book codes and books are
specific to your Workday tenant and might be different from the values suggested
here.
Book Name | Includes Book Codes | Includes Blank Book Code | Tenant Default | Description |
|---|---|---|---|---|
All Adjustments | IFRS Adjustments Local GAAP Adjustments Tax Adjustments
| No | No | Includes the 3 book codes specified. Won’t include the Blank book
code. |
Common Book | GAAP | Yes | Yes | Includes:
|
IFRS Book | IFRS IFRS Adjustments | Yes | No | Includes:
|