Skip to main content
Documentation
Documentation
Administrator Guide
Last Updated: 2024-11-01
Download PDF
Reference: General Ledger Capabilities

Reference: General Ledger Capabilities

You can view high-level feature descriptions for the capabilities in this product area.

Accounting Adjustments

Supports adjustment of transaction lines to reclassify costs on:
  • Expense reports.
  • Procurement cards.
  • Supplier invoices.
  • Supplier invoice adjustments.

Allocations and Statistics

Supports the distribution of ledger amounts from 1 organization to another. The functionality provides the ability to:
  • Allocate based on budgets and statistics.
  • Allocate costs.
  • Create operational journals.
  • Monitor status and results.
  • View financial impact before posting.

Auditoria.AI Smartbots for Workday

Provides the ability, by partnering with Auditoria, to automate accounts payable (AP processes) AP accruals process. The functionality supports the ability to:
  • Help in monitoring, classifying, and responding to supplier emails.
  • Send estimated accrual expenses to suppliers.
  • Compile responses and compute monthly accrual journals.

Average Daily Balance

Provides the ability to track daily activity and report on average daily balances.

Funding Sources

Provides the ability to:
  • Set aside funds to use for specific purposes.
  • Retroactively allocate funds to spend transactions.

Intercompany

Supports business events transacted between related companies. The functionality provides the ability to support:
  • Intercompany relationships.
  • Direct intercompany transactions to exchange supplier and customer invoices.
  • On-behalf-of intercompany transactions to track money.

Journals

Provides the ability to:
  • Generate journals for operational transactions.
  • Support recurring journals.

Lease Accounting

Supports recognizing and recording lease liabilities and right-of-use assets for lease contracts. The functionality provides the ability to:
  • Support financial and operating lease-type supplier contracts.
  • Use alternate contracts to assist with comparative reporting.
  • Create receipts and register business assets.
  • Enable migration of lease contracts.
  • Generate accounting for expense recognition and supplier invoice installments.
  • Support change amendment types for contract extension and non-consumer price index payment changes.

Tax Processing and Reporting

Supports calculating, recording, and reporting on tax-relevant data for submission to tax authorities in supported locations. The functionality provides the ability to:
  • Calculate tax on operational transactions and manual journals.
  • Calculate transaction tax and withholding tax.
  • Support generation of 1099MISC, 1099NEC, and UK VAT tax e-filing.

Tenant Setup and Work Tag Configuration

Provides the ability to configure alternate account sets and post accounting entries to different ledger accounts. The functionality supports the ability to:
  • Segregate financial transactions and associate all accounting transactions with a book code.
  • Customize validations to control input on tasks.
  • Retain amounts on journals by configuring primary and optional work tags.
  • Define the relationships between work tags.

Workday Bank Connectivity

Workday Bank Connectivity facilitates connections between Workday Financials customers and their financial institutions. The functionality supports the ability to:
  • Receive bank statements.
  • Receive payment acknowledgements.
  • Send electronic payments.