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Administrator Guide
Last Updated: 2023-06-23
Create Ledgers

Create Ledgers

  • Name the actuals ledger type and optionally the commitment and obligation ledger types using the
    Maintain Ledger Types
     task.
  • Security:
    Set Up: Ledger and Book
     domain in the Common Financial Management Functional area.
Create an actuals ledger and, optionally, a commitment ledger and an obligation ledger for each of your companies. For commitment and obligation ledger types, you can enable the creation of commitments and obligations for payroll transactions (payroll and fringe benefits) and procurement transactions.
For state and local governments:
  • The commitment ledger type is commonly known as pre-encumbrance.
  • The obligations ledger type is commonly known as encumbrance.
You can name the commitment and obligations ledger types based on your needs.
You can have only 1 actuals ledger type per company.
You can create and use payroll commitment and obligation ledgers only if your company has selected USD or CAD as its default currency.
  1. Access the
    Create Ledger
     task.
  2. Select the
    Company
     for which you want to create ledgers.
  3. Select which
    Actuals Ledger Type
     to use for the company ledgers.
    Workday appends the ledger type name to the actuals, commitment, and obligation ledgers of the company. You can't change this value once there are journal entries for the company.
  4. To provide budget date visibility on all applicable journal lines, select the
    View Budget Date
     check box.
    When enabled, Workday uses your
    Budget Options
     configuration on the
    Edit Tenant Setup - Financials
     task to determine the default budget date for the transaction.
    If you have a commitment or obligation ledger, Workday requires the budget date and automatically selects this option. If you have an actuals ledger only and are controlling budget for actuals transactions only, you can turn this option on or off.
  5. To enable the selected option for spend and payroll transactions, select the
    Create Commitment
     or
    Create Obligation
     check box.
    For payroll transactions, you can create commitments and obligations for
    Payroll
     and
    Fringe Benefits
     when the company currency is in USD and CAD.
    For spend transactions, select:
    • Obligations for
      Procurement
       to create obligations for purchase orders and certain supplier contract types.
    • Both commitments and obligations for
      Procurement
       to create commitments for requisitions and obligations for purchase orders and certain supplier contract types.
    • Expenses
       to create commitments for spend authorizations.
  6. Select the
    Roll Journals Forward for Procurement
     check box to have Workday:
    • Automatically roll forward the accounting date to the first date of the next open period upon budget approval.
    • Post the commitment or obligation journals that you rolled forward to the new period.
Use the company ledger to store accounting results from your original journal entries.
For a list of related reports and their descriptions, access the
Workday Standard Reports
 report and select the
Set Up Financial Ledgers and Accounts
 report category.
Create and open a ledger year and ledger periods for your company ledgers.