Workstream 

Key Updates 

Feature Description 

Business Impact 

General Ledger 

Tax Details for Journal Lines Report Fields 

New report fields have been added to the Journal Line business object. New fields were added to the Tax Rate Application and Payment Tax Rate Application objects. 

The new report fields enable you to report simultaneously on tax journal lines and their corresponding tax details without the need for calculated fields. 

Multiple Funding Sources for Procurement Commitment and Obligation Ledgers 

Users can reclassify procurement commitments and obligations to funding sources. 

With this feature, Workday improves your project funding compliance capabilities. 

Tax Applicability Enhancements 

Workday now offers improved tax applicability filtering by country and transaction type, along with the option to deactivate outdated tax rules to prevent their use. 

It’s now easier for non-tax experts to select the correct tax applicability and time spent on reconciliation is reduced. 

Recurring Journal Template Auto rounding 

Workday now supports decimal rounding on multicurrency journal lines for journals created from recurring journal templates with the reset currency rate at generation option configured. 

The decimal rounding support ensures that journals generated from recurring journal templates are balanced and eliminates the need to manually update the ledger amount differences before submitting the journal. 

Accounts Receivable 

Printing Customer Documents with Attachments Using Docs for Layouts 

With this release, we now support printing customer invoices and dunning letters with attachments using Workday Docs for Layouts. 

This improves printing efficiency and reduces processing time for customer invoices and dunning letters. 

Prompt Payment Discounts for Automatic Payment Applications 

Automatically apply customer payments for customer invoice adjustments and negative invoices with discount payment terms. 

This streamlines customer payment processing, saving time by eliminating manual allocation and ensuring an uninterrupted workflow. 

Receivables Account Posting Rule Dimensions 

With this release, Workday enables you to configure the receivables account posting rules using the country, invoice adjustment reason, invoice type, and payment type dimensions. 

This provides greater flexibility in account posting, enabling a more granular differentiation of accounts receivable. 

Close and Consolidate 

Specify Transaction Currency on Manual Translation Adjustments 

You can now specify a transaction currency when you create manual translation adjustments in Workday. 

This enhancement provides more flexibility when you create and report on manual translation adjustments, to manage consolidation when there is outstanding balances in multiple currencies. 

Import Beginning Balance Journal SOAP API 

To improve performance and remove the limit of 35,000 journal lines per request. 

Speeds up the process of importing large amounts of financial data into Workday. Streamline migration or implementation processes. 

Intercompany 

Intercompany Multicurrency Netting 

Enable User to pay direct intercompany invoices in multiple currencies through a direct intercompany netting process. 

This increases business efficiency by streamlining direct intercompany payments and reducing foreign exchange exposure. 

Intercompany Balancing Rule for Expenses 

Workday now supports applying the intercompany balancing rule to expense report transactions, including those made via credit card. For more details, see the Related Information section: Intercompany Balancing Rule for Balancing Worktag. 

This feature enhances expense report accuracy in intercompany transactions, including those involving credit cards. It ensures proper accounting when cost centers are used as balancing worktags and helps prevent invalid cost center setups on credit card billing accounts, reducing data errors. 

Cash Management 

Multicurrency Support for Company Bank Accounts 

Workday now supports multicurrency bank accounts by allowing multiple company accounts with the same IBAN or account number but different currencies. Each account is treated separately with no primary account designation. To group them correctly, use identical account identifiers like IBAN, BIC, or routing numbers, based on the account’s location. 

Can maintain and integrate multicurrency bank accounts within Workday. 

Gapless Customer Invoice Sequencing – Alternate Fiscal Schedule 

Workday now supports gapless customer invoice sequencing for alternate fiscal schedules. A new field in the Edit Company ID Definitions task lets you choose an alternate fiscal schedule to enable this functionality. 

This enhancement supports compliance with local tax and invoicing regulations, minimizes audit risks, and reduces manual effort in adjusting gapless sequence rules for alternate fiscal schedules. 

Accounting Center 

Intercompany Accounting Center Journals with Different Ledger Currencies 

Workday now enables to create intercompany Accounting Center journals with different ledger currencies. 

Workday simplifies the journal creation process and reduces cost of ownership by minimizing complexity of accounting source configuration. 

Business Process to Cancel Accounting Center Batches 

Workday now offers the Accounting Center Cancel Batch Event business process, allowing you to add approval steps. 

Managing batch cancellations through a BP in Workday enhances security by limiting unauthorized access and preventing errors. It also streamlines operations. 

Object Transporter for Accounting Center 

With this release, we enable you to migrate Accounting Center objects using Object Transporter. 

Improves your ability to migrate Accounting Center configuration data and objects from one tenant to another, either individually or as part of a configuration package. 

Accounting Center Process Restriction When Configuring Accounting Sources 

Workday now restricts any configuration changes to the Accounting Center Process for an Accounting Source that is not configured. 

Prevents errors when you are configuring an Accounting Source and enables you to make changes to the Accounting Center Process after you have configured an Accounting Source. 

Revenue Management 

Transfer Ad Hoc Project Transactions 

Transfer ad hoc project transactions of any type (Time, Expense, Supplier Invoice, and Misc Expense) to other projects. 

This feature enables fast and simple transfers of ad hoc project transactions, streamlining processes and reducing manual effort to ensure billing accuracy. 

Link to Revenue Installment Line from Journal Line 

We enable users to quickly check which revenue recognition installment line and related data resulted in a particular journal line. 

This feature allows for seamless navigation from journal lines to related contract data, helping reduce time spent manually reconciling journal entries. 

Schedule the Creation of Customer Invoice Proposals 

With this release we deliver a new Schedule Create Customer Invoice Proposal task that enables you to schedule the automatic creation of customer invoice proposals. 

This feature reduces manual processes and the potential for error by bringing automation to the customer invoice proposal process. 

Accounts Payable 

Bank Routing Codes for Supplier Invoices and Miscellaneous Payment Requests 

Specify the bank account from which to pay Supplier invoices and miscellaneous payment requests directly from the invoice. 

Enables us to select the bank account for payments directly at transaction entry using a configurable prompt, reducing the need for workarounds to correct the bank account after you create payments. 

Separate Payment Field on Supplier Invoices 

Enables us to issue separate payments for individual supplier invoices when creating a settlement run. 

This feature allows greater control over how to bundle settlement run payments. It also reduces the manual effort required for ad hoc separate payments & additional remit-to connections. 

Payment Processing 

Multicurrency Support for Supplier Bank Accounts 

We deliver a new Accepted Currencies prompt on supplier settlement bank accounts, enabling you to specify currencies the account can receive for electronic payments. 

Specifying accepted currencies enables you to route supplier payments to the correct settlement bank account by payment type and currency, reducing the risk of payment failures from currencies that the account doesn’t accept. 

Payee Bank Account Fields and Validations 

Improved the configuration of payee bank account fields and validations. 

This update gives you more flexibility and control on payee bank account fields and validations, reducing the risk of data entry errors and payment rejections.