WeCreativez WhatsApp Support
Our customer support team is here to answer your questions. Ask us anything!
Whatsapp

Workday Finance - 2. Introduction II

Workday Finance Training Highlights

💼 Work tags are like Twitter hashtags that follow transactions

🏷️ Standard work tags include cost center and location, while custom work tags can be created based on business needs.

🛠️ Enabling and maintaining custom work tags allows for additional information to be entered in transactions.

Workday Finance Training - Key Moments

  • Introduction to Workday Finance 00:00

    • Demonstrates the process of creating an accounting entry in Workday Finance.
    • Explains the need to switch between different user IDs for practice due to access restrictions.
    • Discusses entering additional information like bank details and cost centers in transactions using work tags.

 

  • Understanding Work Tags in Workday 03:15

 

    • Introduces the concept of work tags in Workday, such as spend categories and organization types.
    • Explains the necessity of entering specific work tags like salesperson for tracking expenses.
    • Demonstrates enabling and maintaining custom work tags for unique business requirements.

 

  • Enabling Custom Work Tags 06:29

    • Explores the process of enabling custom work tags in Workday Finance.
    • Illustrates the steps to activate and rename custom work tags like salesperson.
    • Emphasizes the importance of custom work tags for capturing specialized transaction details.

 

  • Maintaining Custom Work Tag Values 09:56

    • Guides through maintaining values for custom work tags like salesperson in Workday.
    • Shows how to assign specific values to custom work tags to use in transactions.
    • Highlights the significance of custom work tag values for accurate financial tracking and reporting.

 

  • Practical Application of Custom Work Tags 13:30

    • Discusses the practical application of custom work tags in accounting entries.
    • Emphasizes making specific work tags mandatory fields for data accuracy.
    • Encourages exploration and utilization of custom work tags to meet unique business needs.

Workday Training FAQ’s

Q: What are work tags in Workday and how are they used in accounting entries?

A: Work tags in Workday are like Twitter hashtags that follow transactions, allowing for additional information to be entered such as cost centers, locations, and custom tags. They help track and categorize transactions, making it easier to retrieve specific information in the future.

Q: When would someone need to create a custom work tag in Workday?

A: Custom work tags are created in Workday when standard work tags do not meet specific business requirements. For example, if a company wants to track salesperson information for marketing expenses, a custom work tag for “salesperson” would need to be created and maintained.

Q: How many custom work tags can be enabled in Workday, and where can they be used?

A: In Workday, a maximum of 15 custom work tags can be enabled. These custom work tags can be used in various areas such as financials, payroll, HR, and time tracking based on the specific requirements of the organization.

Q: What is the process for enabling and maintaining values for a custom work tag in Workday?

A: To enable a custom work tag in Workday, it must be activated in the system, renamed to reflect its purpose (e.g., “salesperson”), and designated for use in a specific area (e.g., financials). Values for the custom work tag, such as specific salesperson names, can then be maintained to be used in transactions.

SailPoint

Connect with CloudCertification