Workday Payroll - 2. Overview - CloudCertification

Wokday Payroll - 2. Overview

Workday Payroll Training

📅 Manual creation of a monthly schedule involves setting up 12 pay periods with specific start and end dates.

🏃‍♂️ The Run category defines which employees are paid in a particular payroll run and distinguishes between regular, bonus, or commission payments.

💸 Pay components, representing earnings or deductions, are linked to employee statuses, such as termination or leave.

🌐 The video emphasizes the importance of understanding and reviewing the Run category setup in Workday Payroll.

📝 Viewers are encouraged to create their own Run category as part of the learning process.

Workday Payroll Training - Key moments

Creating Monthly Schedule 00:05
- Learn how to manually set up a US monthly payroll schedule, dealing with payday variations like weekends, and defining period start, end dates, and payment dates for 12 periods in a year.

Period Schedule Setup 02:29
- Follow the steps to create 12 period schedules for 2019, understanding the importance of period begin dates, end dates, and payment dates in the monthly payroll framework.

Understanding Run Categories 05:09
- Explore the significance of run categories in payroll, distinguishing between regular, bonus, and commission categories, and how they determine the frequency and nature of employee payments.

Run Category Setup 06:34
- Dive into the details of setting up run categories, including defining the employee population, selecting the country, and understanding the on-cycle and off-cycle processing based on worker statuses.

Pay Component Configuration 08:39
- Learn how to configure pay components in run categories, specifying which earnings and deductions are processed for active and terminated employees, ensuring accurate payroll calculations.

Calculating Long-Term Disability Pay 11:07
- Understand the process of calculating long-term disability pay for employees on leave, linking the criteria on worker status and leave types to ensure correct additional payments.

Processing Terminated Employee Payments 12:44
- Explore the components and criteria for processing payments for terminated employees, covering salary-based pays, vacation, and other associated components in the payroll system.

Short-Term Disability Pay Setup 13:25
- Configure the system to process short-term disability pay for employees within your pay group on leave, understanding the criteria and components associated with this specific payroll scenario.

Workday Payroll Training FAQ’s

Q: What is Workday Payroll, and how does it benefit an organization?

A: Workday Payroll is a comprehensive payroll management solution designed to handle payroll processing, tax compliance, and reporting for organizations. It benefits an organization by providing accurate and timely payroll calculations, ensuring compliance with local and global regulations, reducing administrative burden, and offering real-time payroll insights.

Q: How does Workday Payroll ensure compliance with tax regulations?

A: Workday Payroll ensures compliance with tax regulations through its built-in tax engine that automatically updates with the latest tax rates and rules. It supports various tax jurisdictions, handles complex tax scenarios, and generates accurate tax filings and reports to meet local, state, and federal requirements.

Q:What are the key features of Workday Payroll?

A:

Key features of Workday Payroll include:

Real-time Payroll Calculations: Instant payroll calculations for accurate and timely payroll processing.
Automated Tax Updates: Automatic updates to tax tables, rates, and rules to ensure compliance.
Comprehensive Reporting: Detailed payroll reports and analytics for better decision-making.
Self-Service Capabilities: Employee and manager self-service options for viewing pay slips, updating tax information, and more.
Integration with HCM: Seamless integration with Workday Human Capital Management (HCM) for streamlined HR and payroll processes.

Q:How can employees access their payroll information in Workday Payroll?

A: Employees can access their payroll information through the Workday Employee Self-Service portal. This portal allows employees to view and download their pay slips, update personal and tax information, view year-to-date earnings and deductions, and access other payroll-related documents.