Our Workday Finance training is designed to help you learn the necessary fundamentals to begin your career in Workday Financials implementation. Trainees would learn to execute the major financial events (transactions), perform administrative activities, and perform setup of the core system functionality. This Workday Finance training is designed to provide functional knowledge for learners. If you dream to become a Workday functional consultant then you are in the right place. This online training course is comprehensive with real-time based scenarios delivering practical value to aspirant Workday Professionals. Our intensive training build confidence to hit the job markets and easily clear interviews. Workday HCM Training is a prerequisite for learning this course.
1. Core Concepts and Navigation:
Workday Finance Training was designed and built to meet the specific needs of today's finance organizations. This training is the new object-oriented, cloud-computing software solution to handle today's financial needs and business objectives. This course presents a comprehensive overview of Workday Financials including product overview, functionality, benefits, roles, business processes, setup, and transactions. Students would also get a grasp on describing Workday core concepts and logging in to Workday tenant.
2. Organizations and Worktags:
Our trainees would be taught focusing on the Company organization and then look at other common organization types that can be created and maintained. This includes custom organizations, which are required to support your individual business and report requirements.
Financial transactions are grouped and tracked within Company organizations. Student would learn creation of a company and attaching it to an existing company hierarchy via a reorganization. Teaching would also include creation of new cost centers and including them in a newly created cost center hierarchy.
3. Financial Accounting Setup:
Workday Financial Accounting training provides the capabilities necessary to satisfy the information requirement of investors, creditors, and regulatory authorities. With Workday Financial Accounting, which is the foundation for all Workday Financial solutions, students can manage all your accounting activity and report on that activity at any time. This covers various concepts inclusive of identifying the required security groups for financial accounting setup, configuration of mandatory company accounting details, application of the concept of the recommended approach to account set setup, creation of an Actuals ledger, creation of the ledger and fiscal year period, and maintaining ledger period status.
4. Accounting Journals and Account Posting Rules:
Workday Accounts Training is designed to help learners automate the accounting resulting from business operations. Students would learn various concepts including identification of the required security groups for accounting journal creation, description of how each journal type posts to the journal, creation of a journal and reversal journal, creation of an EIB and populating the template. Concepts on difference between default ledger accounts and determining accounts based on account posting condition rules, method of account posting rules to dynamically determine ledger accounts based on information in a given transaction, articulation of why the order of the condition rules matter would also be covered.
5. Supplier and Supplier Invoices:
Workday Supplier Management uses web-based business communication, transaction processing, and settlement options to efficiently process supplier invoices, manage payables and settlement, provision of cash optimization, maintaining strong internal controls with insight into all aspects of enterprise spend, identification of the required security groups necessary for supplier invoice and supplier invoice adjustment creation, creation of a supplier invoice and invoice adjustment, and reviewing the accounting for both documents as well as maintaining the spend account posting rule by creating an account posting rule condition.
6. Banking and Settlement:
Workday Cash Management consists of banking, settlements, and bank reconciliation tools that enable you to actively manage and optimize the cash inflows and outflows for your organization on a daily, weekly, and monthly basis. Workday automates administrative and control activities, such as bank statement reconciliation, while providing embedded business intelligence, Using Workday Banking and Settlement, companies can automate the coordination and control of cash flow activity.
7. Customers, Customers Invoices and Receipts
Workday Revenue Management enables the management of customer accounts and associated revenue. When items are sold to customers, you can use Workday to manage the invoices and sales terms, record customer payments and cash sales, and deposit money into the bank. Use actionable reports anytime throughout the cycle to track and analyze your customer account data. Students would learn how to identify the required security groups for customer setup and invoice creation, maintain customer categories and customer groups, create a customer, customer invoice, invoice adjustment, and review the accounting for both, identify the required security groups to process customer receipts, record and apply a customer payment with a shortage and write off amount and review the accounting, record and apply a customer payment with an overage and applicable discount and a write off amount and review the accounting, create customer deposit customer payments and review the accounting and also how to create a customer refund and a cash sale and review the accounting.
Workday Cash Management consists of banking, settlements, and bank reconciliation tools that enables active management and optimization of the cash inflows and outflows on a daily, weekly, and monthly basis. Students would learn how to identify the required security groups for bank reconciliation and ad-hoc bank transactions, create a manual bank statement, create an Ad-Hoc bank transaction to reconcile the stated cash and review cash-to-bank account balances reconciliation.
9. Business Asset Setup and Lifecycle:
Workday Finance Training offers flexibility that enables learners to track assets according to business use and account for them according to your accounting practices. Learners would be taught how to identify the required security groups for asset setup, configure a spend account posting rule to handle asset accounting and configure the business asset setup process.