Concept: Journal Processing

You must have the appropriate security permissions to the ledger account on the accounting journal. You can enter journals manually or upload them. You can enter journals for month end adjustments, depreciation, translation adjustments, or to record accrued liability for purchase items that you receive but not paid. You can automatically reverse journal entries for accruals.

For commitment or obligation journals, you can have Workday roll forward the accounting date to the first date of the next open period upon plan approval. Select the

Roll Journal Forward for Procurement

check box on the

Create Ledger

task.

You can create reversal journals on or after the accounting date. If the accounting period isn't open, Workday creates a journal in

Created

status. When the reversal period opens, use the

Mass Post Reversal Journals

task to post the reversal journals. You can only post intercompany reversal journals if all companies in the journal have the period open.

You can select

Edit

from the related actions menu of a journal that hasn't posted to correct errors.

You can select

Delete

from the related actions menu of a journal that you've created but not posted or submitted for approval.

You can select

Correct

from the related actions menu of the business process event to correct a posted journal. The option to correct a posted journal isn't available when you enable the reversal of accounting journals.

Workday posts journal entries to a ledger defined for each company.

To configure an accounting journal for budget check, you configure the

Accounting Journal Event

business process with the

Check Budget (Financial)

business process. Workday budget checks the journal at the initiation step, approval step, or both to ensure that the amount is within the budget.

Once configured, Workday performs a budget check when you:

Submit
an accounting journal for approval. If the journal doesn’t pass the budget check, modify the amount or request an override from the budget manager.
Approve
an accounting journal.

If the journal doesn’t pass the budget check, you can take one of these actions:

Send the request back.
Modify the amount.
Request an override from the budget manager.

Workday also automatically validates worktags during the budget check.

This table lists permitted activities during each journal status:

Activity	Journal Available for Posting	Journal Posted	Journal Canceled
Create Journal	No	No	No
Edit Journal	Yes	No	No
Post Journal	Yes	No	No
Unpost Journal	No	Yes	No
Cancel Journal	Yes	No	No
Copy Journal	Yes	Yes	Yes

Recurring journals are journals you create on a regular basis. They have the same journal lines for the same accounts and amounts. You can create future-dated recurring reversal journals. When the reversal period opens, use the

Mass Post Reversal Journals

task to post the reversal journals.

Workday provides a number of standard reports to help you manage journals. For a list, access

Workday Standard Reports

and select the

Financial Accounting

category.