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Administrator Guide
Last Updated: 2023-06-23
Set Up Worktag Rules for Project Cost and Revenue

Set Up Worktag Rules for Project Cost and Revenue

Security:
Set Up: Enable Worktags
 in the Common Financial Management and Worktags functional areas.
As a financial administrator, you need the flexibility to determine how to account for project costs and revenue. This accounting might depend on whether the project resource is an employee or a contingent worker. In Workday, when workers enter time or submit expense reports against a project, there can be multiple worktags associated with the project. You can configure simple rules at the project hierarchy level to determine if project costs and revenue should follow the worker or the project worktags. These derived worktag rules:
  • Automatically apply the correct accounting to project costs and revenue.
  • Ensure that the project costs and revenue display in the right organizations, such as Cost Center.
  • Only apply to time and expense contract lines that have transaction-based revenue recognition, not to fixed-fee contract lines with % complete revenue recognition.
  1. Access the
    Create Derived Worktag Rule
     task.
    Set up a rule that determines which worktags to support when a worker creates an expense report or bills for time against a project. Workday then derives the worktags to use based on this rule.
  2. Enter worktag rule details.
    As you complete the rule, consider:
    Option Description
    Name
    Enter a name for the rule.
    Example:
    Employee Cost and Revenue Rules
    .
    Company is from
    (Optional) Select whether to derive the worktags for the company from either the
    Project
     or the
    Worker
    .
    This field only applies to project revenue.
    Worktag Derived From
    Select whether the worktags for this rule should come from the
    Project
     or the
    Worker
    .
    Your selection controls the worktag types available for selection.
    Worktag Types
    Select the worktag types that you want to use for the worker or the project. For:
    • Project
      : Only the worktag types you define on the
      Maintain Worktag Usage
       task are available here. In this task, you can define which worktags the project supports. The
      Customer
       worktag type supports a specific field on the project rather than one that you define on this task.
    • Worker
      : Only costing worktags, such as
      Business Unit
       and
      Location
      , as well as custom organizations configured as financial worktags are available. You can use the
      Maintain Organization Types
       report to edit costing worktags and custom organizations.
Your worktag rules are now available for use in the project hierarchy configuration.
Create the project hierarchy configuration for this worktag rule.