In Workday HCM, Payroll, and Finance training, trainees would configure the core elements of Workday Payroll as well as study the basics, essentials and navigation of Workday HCM. It also covers some core concepts in Workday Finance. Workday payroll training provides enterprise cloud applications for human capital management (HCM), financial management, student systems, payroll, and analytics. This program is comprehensive with real-world scenarios delivering practical value to Workday aspirants. On pursuing this course, students will gain confidence to hit the job markets and easily clear interviews.
Goals and Objectives of this training:
The goals and objectives of this training mainly focuses on the explanation of the payroll process, setting up the payroll processing framework, listing steps to set up taxes, defining earnings, deductions, and other components, setting up withholding orders, setting up of payroll accounting, banking and settlement, configuring payroll business processes and payroll security, using Workday Payroll to perform payroll processing tasks and delivered payroll reports and creating custom payroll reports.
In this Workday HCM, Finance and Payroll Instructor-led Live training, basic concepts in HCM including the essentials, navigation and basics would be covered. HCM Concepts like tenant implementation, setup, sup org, company hierarchy, custom org, delegation, superior, dividing and location would be covered. Our trainees would be able to navigate in the HCM module with ease after learning these concepts. If you want to learn core HCM concepts and advanced HCM in depth, you can opt for Workday HCM Training.
Workday Payroll Training
To give a gist of this training, the payroll setup is reviewed along with the payroll process flow, and sources of payroll data and by accessing payroll applications and dashboards. Students would learn how to navigate the payroll categories of the sitemap, locate payroll information in a worker's profile, describe payroll setup, identify the steps in the payroll process and identify sources of payroll data.
Payroll Processing Framework:
The payroll processing framework includes elements that must be planned and configured before running regular payroll. Here, you learn how to set up these elements according to company requirements. Actions comprised in this section include enabling a tenant for payroll, listing the elements of the payroll processing framework, creating period schedules, defining gross and net pay accumulations, defining run categories, payment election rules, creation of pay groups and assigning workers to pay groups.
The tax setup allows students to get familiar with company tax setup, workday tax details, and the Payroll Compliance Updates dashboard. They would also learn more about tax setup in the country-specific lean Independent payroll courses. Activities taught include identification of tax setup tasks, describing the Workday-delivered tax data, exploring worker tax elections, and using the Payroll Compliance Updates dashboard.
The Workday calculation engine consists of building blocks to define payroll calculations and the business logic and rules governing payroll calculations. It is used to build all payroll earnings and deductions. Concepts covered include the identification of the types of calculations, identification of payroll-specific calculations as well as building simple calculations.
Earning and deductions are payroll-specific calculations. Here, these pay components are studied in more detail by learning how to recognize sources of payroll calculation values, create and edit earnings and deductions, view net pay validation, maintain payroll audit configurations and the specification of limits for recouping arrears.
Federal State and Local Tax Reporting:
This is a four-step process to set up federal, state, and local tax reporting for a company. It is comprehensive in nature and comprises of tasks on explaining reciprocity, completing prerequisites for tax reporting, setting up Federal, State, and Local tax reporting for a company and entering employee tax elections.
There is a set of provisions in Workday for rules and support regarding setting up and processing numerous types of involuntary withholding orders, including bankruptcy orders, support orders, and tax levies- just to name a few. The system is also inclusive of determination of the amount to withhold from the employee's disposable earnings, including any agency and employer fees, based on state and federal law. It applies withholding limits and sets garnishment priorities according to state and federal law. If an employee has multiple orders and the amount to withhold exceeds the limit, Workday follows statutory rules to determine what to withhold for each order.
Payroll Input and Processing:
Various concepts with respect to Payroll input and processing are taught which include low volume input, input steps, payroll processing, EIB, creation of EIB and retroactive processing.
Workday Finance Training
This is inclusive of prerequisites to banking and settlement configuration and provides an overview of the same. Concepts covered include configuring ACH integration, payment election rules and payroll pay slip configurations, check print layout, bank accounts and pre-note runs as well as settlement business processes and security roles.
The basics of setting up payroll accounting, how to pass payroll expenses to Workday Financial Accounting, and how to generate and review accounting results would be taught as a part of this course. Learners would also understand how to setup costing overrides and the order in which Workday payroll applies to cost overrides to a worker's earnings.
Other courses that can be learnt for enhancing your skills on the technical modules of Workday include Workday payroll integration training, Workday time tracking training and Workday absence management training.