Workday Payroll -5. Scheduling Payment - CloudCertification

Wokday Payroll - 5.Scheduling Payment

Workday Payroll Training

📅 Payment Dates: The payment date is when employees receive their payments, defined by the period start date, end date, and check date.
💰 Compensation Elements: Understanding compensation elements is crucial for payroll processing, as they link HR data with payment calculations.
📊 Proration Concept: Proration adjusts pay based on the number of days worked, especially for employees who join after the payment date or have earnings starting mid-period.
🔄 Retroactive Pay: Retroactive pay calculations allow for adjustments in previously closed payroll periods, but care must be taken to select only the necessary earnings to avoid system overload.

Workday Payroll Training - Key moments

Understanding Payment Dates 00:00
- Payment date refers to the date an employee receives their payment.
- It is defined by a period start date, end date, and check date.
- The video suggests adjusting the payment period to the end of the month for better processing.
Calculation Details Overview 00:45
- Discusses the importance of compensation elements and pay component frequency.
- Emphasizes the need to focus on relevant compensation elements for payroll processing.
- Highlights the necessity of understanding the logic behind calculation elements for accurate reporting.
Proration Concept Explained 03:40
- Proration is the method of calculating pay based on the number of days worked.
- Provides examples of proration scenarios, such as new hires or specific earnings eligibility.
- Differentiates between proration based on days worked versus calendar days.
Events Causing Pay Component Proration 05:17
- Identifies events that can trigger proration, including compensation changes and retroactive pay.
- Explains the retroactive pay process and its implications on payroll calculations.
- Discusses the importance of selecting which earnings are retro-enabled to avoid system overload during processing.

Workday Payroll Training FAQ’s

Q: How can I schedule payroll payments in Workday?

A: To schedule payroll payments in Workday, navigate to the Payroll application, select “Schedule Payments,” and choose the appropriate payroll run. You can then specify the payment date, payment method, and any other relevant details before finalizing the schedule.

Q: What types of payments can be scheduled in Workday Payroll?

A: In Workday Payroll, you can schedule various types of payments, including regular salary, bonuses, allowances, overtime, and other compensation elements. Each payment type can be configured with specific scheduling parameters.

Q: Can I set up recurring payment schedules for employees?

A: es, you can set up recurring payment schedules for employees. Workday allows you to create recurring schedules for regular payroll cycles, such as weekly, bi-weekly, or monthly payments. You can also set up one-time payments for special bonuses or adjustments.

Q: How do I ensure the scheduled payments are processed correctly?

A: To ensure scheduled payments are processed correctly, review the payment schedule details and verify that all information is accurate. Run payroll pre-processing reports to check for any errors or discrepancies. Confirm that the payment dates align with your organization’s payroll calendar.