In This Issue:
- Guidance for Prior Fiscal Year Funding Changes Now Available
- Encumbrances – Things to Remember
- Improvements Made to the Workday Job Costing Tool
- Workday and Changes to UTemp VT5 Documents
- In Case You Missed It: Additional Features Available for GB2 Reports
- Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu
Guidance for Prior Fiscal Year Funding Changes Now Available
New Workday guidance for prior fiscal year funding changes has been added to the AFM website. This guidance provides risks and impact considerations as well as unchanged retro cost transfer information. Due to the complexity of data entry and risk of causing gaps in past costing allocations, it is allowed, but not recommended to process prior year changes in Workday on non-26 accounts after the close of the prior fiscal year.
For additional guidance, visit the Workday Financial Transaction Guidance page.
Encumbrances – Things to Remember
Below are some reminders about key details and functionality related to encumbrances as a refresher.
- The encumbrance calculation is different from the payroll actuals calculation.
- Funds are not encumbered for hourly compensation plans.
- For fixed term employees with compensation ending 1/15, Workday applies encumbrances for the full month.
- The Workday job costing tool calculates amounts based on the payroll actuals calculations.
For more information and guidance, refer to the Encumbrances section of the Workday Financial Transaction Guidance webpage.
Improvements Made to the Workday Job Costing Tool
A new version of the Workday Job Costing Tool is now available on the Workday Financials Training page. It has instructions that emphasize the fields that must be completed in order to calculate amounts in the header. The Job Costing Tool is designed to estimate compensation charges and resulting costing allocation distribution percentages or amounts based on Workday’s payroll actual calculations.
For more information, visit the Workday Financials Training page.
Workday and Changes to UTemp VT5 Documents
Prior to Workday, UTemp VT5 documents showed charges for both the salary and surcharge for UTemp employees. With the implementation of Workday, UTemp salary is now charged directly to the department via payroll and is shown in DEFINE on VP4 documents, with only the UTemp surcharge transactions included on the VT5 document. The surcharge (VT5) and salary (VP4) transactions are now linked and the EID, pay period, salary amount paid, and the payment date are now included as a comment on UTemp VT5 transactions. These changes are designed to help college, schools, and units reconcile their accounts.
In Case You Missed It: Additional Features Available for GB2 Reports
New functionality has been added to the detailed account balances for GB2 reports. Read the previous newsletter to learn more about this.
Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu
Many thanks to the readers who have written in with suggestions and feedback about the newsletter. Please continue to write in with any suggestions for improvements or comments to the AFM@austin.utexas.edu email address.