ur financials project - rochester.edu
TRANSCRIPT
UR Financials ProjectCompany Level Reporting SIG
March 4, 2014
February 18, 2014
Agenda1. Review of 2/25 Meeting topics (~ 20 mins)
– Housekeeping items– Outstanding Questions / Follow-up Topics– Review of Financial Statement Functionality
• Introduce Report Definitions
2. How to find Reports (~ 10 mins)– Worklets, sitemap, run a report, or use search– Remember the excel file, too
3. Trial Balance and Ledger Detail (~ 20 mins)– Demo– Summary of reports so far.– Free play !
4. FAO Activity and Detailed Transaction Reports (~ 45 mins)– Demo– Free play !
UR Financials – Company Level Reporting SIG 2
February 18, 2014
Non‐Disclosure Statement
• If you have not already signed a Non-Disclosure Statement for other SIG groups, please sign the Non-Disclosure Statement before you leave !
UR Financials – Company Level Reporting SIG 3
February 18, 2014
Updated Meeting Schedule
UR Financials – Company Level Reporting SIG 4
Informal Training Reviewing Reports Formal Training
Feb Mar Apr May June WD22
February:• Tuesday, February 18: 3 – 5 pm in Saunders Room 1301• Tuesday, February 25: 3 – 5 pm in Saunders Room 1301
March:• Tuesday March 4: 3 – 5 pm in Saunders Room 1301• Tuesday, March 18: 3 – 5 pm in Saunders Room 1301• Friday, March 21: 2 – 5 pm in Genesee Room at Scottsville Road (limited space)
– WebEx and “Open House” format. Limited Demos, but will answer questions and demo based on questions.
2 3 TBD
February 18, 2014
Questions after meeting
• Please feel free to send questions after the meeting.• We will try and incorporate them into the next meeting or in future
meetings (once we get to that topic)
UR Financials – Company Level Reporting SIG 5
Please send !
• Question about “red error messages” (see next page)
• Question about Budget Balance vs Budget Variance (see page 7 & 8)
February 18, 2014
Red Error Message is “ok”
• Directs the user to fix “something”.• Red Error Messages are not a bug in Workday, but rather a message
stating that “something needs correction”
UR Financials – Company Level Reporting SIG 6
Red Error Message
February 18, 2014
Questions after meeting
• Please feel free to send questions after the meeting.• We will try and incorporate them into the next meeting or in future
meetings (once we get to that topic)
UR Financials – Company Level Reporting SIG 7
Please send !
• Question about “red error messages” (see previous page)
• Question about Budget Balance vs Budget Variance (see next page, too)– Workday has the ability to show both.– 2/25 Demo showed Budget Variance against a monthly budget – and we focused on
expenses.• Report Content was shown as Actuals; Comparative Content was Budgets.• In this case a negative variance is good. (You are under your budget)• If (in this case) a Budget Balance analysis was used -- a negative variance is bad
(You over spent your budget)– More on this in future meetings.
February 18, 2014
Brief discussion on Budget Variance vs Budget Balance
• Depends on Revenue vs Expense analysis.• Depends on Annual vs Monthly Budgets.• Overall Workday can show either.
UR Financials – Company Level Reporting SIG 8
Variance vs Balance
• Demo focused on Expenses and a Monthly Budget Variance.
• Here’s the demo using Budget Balance:
February 18, 2014
Brief discussion on Budget Variance vs Budget Balance
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• Overall:– The majority of the budgets are loaded annually and the reports will
be geared more towards “Budgetary Balance Report” as they are today.
– However, for Company Level members we wanted to show the flexibility of the Financial Statement Functionality;
– And, for those with Monthly Budgets to show a variance analysis vs Balance Analysis
– More on this in future meetings.
February 18, 2014
Review Financial Statement Functionality
UR Financials – Company Level Reporting SIG 10
Four Sections:
(1) Report Definition & Display Bys– 2/18 all but Worktag Filter– 2/25 Worktag Filter
(2) Report Content & Time Periods– 2/18
(3) Comparative Content & Time Periods – 2/25
(4) Report Options– 2/18
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February 18, 2014
Financial Statement Functionality Recap
Financial Statement Functionality:
• This reporting function generates formatted, printable, and drillable financial statement “type” reports. Runs fast and is flexible.
• The function produces reports based on Workday Ledger Accounts and pre-defined “Financial Statement Definitions”.
• The content of the report depends on the options selected at run time.
• One “report” can answer many questions
• You’ve seen almost all of it, but there’s still some more to see in future meetings (let’s discuss one next)
• This functionality will be used to create the top line Financial Statements, the Monthly Ledger Report (this will be showed in future meetings), and some Ledger reports.
UR Financials – Company Level Reporting SIG 11
February 18, 2014
Financial Statement Definitions (new topic)
• Have you ever wanted to know how the Statement of Activities report is calculated?
• How about the Management Report?
• With Financial Statement Definitions, you have access to see how the reports are defined.
• Let’s see –
UR Financials – Company Level Reporting SIG 12
February 18, 2014
Financial Statement Definitions (new topic – very brief)
• (1) Use the related action icon on the Report Definition
• (2) Use “Financial Statement Categories”
UR Financials – Company Level Reporting SIG 13
February 18, 2014
Agenda1. Brief review of 2/25 Meeting topics (~ 20 mins)
– Housekeeping items– Outstanding Questions / Follow-up Topics– Review of Financial Statement Functionality
• Introduce Report Definitions
2. How to find Reports (~ 10 mins)– Worklets, sitemap, run a report, or use search– Remember the excel file, too
3. Trial Balance and Ledger Detail (~ 20 mins)– Demo– Summary of reports so far.– Free play !
4. FAO Activity and Detailed Transaction Reports (~ 45 mins)– Demo– Free play !
UR Financials – Company Level Reporting SIG 14
February 18, 2014
How to find Reports in Workday
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Worklets • Various Worklets• Favorites (Demo this)
Sitemap• Helps find “Delivered” reports by Reporting Category
Run a report• Run “View Custom Reports I Can Run”• Note: only includes “custom reports”
Search • Search for it
Outside WD • Use the excel that we sent out on 2/3
February 18, 2014
Update Favorites Worklet
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Use the gear icon and then add a report
February 18, 2014
Sitemap
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Use the gear icon and then add a report
February 18, 2014
Agenda1. Brief review of 2/25 Meeting topics (~ 20 mins)
– Housekeeping items– Outstanding Questions / Follow-up Topics– Review of Financial Statement Functionality
• Introduce Report Definitions
2. How to find Reports (~ 10 mins)– Worklets, sitemap, run a report, or use search– Remember the excel file, too
3. Trial Balance and Ledger Detail (~ 20 mins)– Demo– Summary of reports so far.– Free play !
4. FAO Activity and Detailed Transaction Reports (~ 45 mins)– Demo– Free play !
UR Financials – Company Level Reporting SIG 18
February 18, 2014
Early training – Trial Balance & Ledger Detail
See Excel file on UR Financials site (and in email)
1. Trial Balance:• View a trial balance by Company that displays the ending balance by Ledger
Account. • Example: 3-4 Trail Balance
2. Ledger Detail:• View a summary by period or the details of a ledger. Helps support the Trial
Balance and provides a quick snapshot of Ledger Account Details. • Example: 3-4 Ledger Detail
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February 18, 2014
Free Play
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• Please run any report reviewed so far.
• Next up, summary FAO reports.
February 18, 2014
Summary of the Reports so far
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• Why were these showed first? – FDM Reports – show you how to find FDM elements that you need for
basically every report in Workday– Financial Statement Functionality – shows the power of formatted
definitions, flexibility in prompting, and powerful drilling capabilities.– Trail Balance and Ledger Detail – shows how Workday views Ledger
Account details and provided additional practice with prompting.
• And Overall:– These really help with practice and learning “the cadence” of Workday.– Practice with prompting, drilling, “viewing by”, and Saving Filters.– You can answer many questions using one report.– Helps to review reports in a “broader approach”.– And, keeps you on the screen in Workday (which will be incorporated into
the Broader Approach and the Decision Tree)
February 18, 2014
Agenda1. Brief review of 2/25 Meeting topics (~ 20 mins)
– Housekeeping items– Outstanding Questions / Follow-up Topics– Review of Financial Statement Functionality
• Introduce Report Definitions
2. How to find Reports (~ 10 mins)– Worklets, sitemap, run a report, or use search– Remember the excel file, too
3. Trial Balance and Ledger Detail (~ 20 mins)– Demo– Summary of reports so far.– Free play !
4. FAO Activity and Detailed Transaction Reports (~ 45 mins)– Demo– Free play !
UR Financials – Company Level Reporting SIG 22
February 18, 2014
Early training – FAO Activity Reports
See Excel file on UR Financials site (and in email)
1. FAO Activity Reports• Use this report to view activity by FAO’s by Ledger Accounts, Spend or Revenue
Category, and by months.
• Note: There are few different versions of this report.
• Drill and use “View Bys”
• Examples: 3-4 FAO Activity; 3-4 FAO Activity Months
UR Financials – Company Level Reporting SIG 23
• Search on the word “Activity” to view similar reportsTip
February 18, 2014
Early training – FAO Activity Reports
• Remember to use “View By’s”
• Remember to Drill !
• Drilling into the Totals will actually bring up the “Detailed Transaction Report” that will be Demo’d in the future.
• Remember you can then export the Details to Excel.
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Drill
View Bys
February 18, 2014
Free Play
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• Please run any report reviewed so far.
• Next up, more detailed FAO reports and detailed Journal Transactions
February 18, 2014
Early training – Journal Details (Most Likely Next Meeting)See Excel file on UR Financials site (and in email)
1. Find Journals – with Saved Filters• Use this report to review details of a journal. Report is really designed for very
specific transactions.• Examples: 3-4 FAO Activity; 3-4 FAO Activity Months
2. Journal Transactions
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• Search on the word “Journal” to view similar reportsTip
February 18, 2014
Next Meeting Tuesday 3/18, 3 – 5 pm Saunders
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• Review and potentially finish 3-4 exercises.
• View Reports grouped by FAO’s– Activity Summary Reports– Journal Details
• Review Supplier Invoice & Payment Reports– Transaction Details
• Budget to Actual reports (Time Permitting)
