Workday Financial Certification Training

Workday Financial Demo Video

• Workday Financials is a cloud-based financial management system that provides comprehensive solutions for financial planning, accounting, and reporting. It is designed to help organizations streamline their financial processes, improve accuracy, and gain real-time visibility into their financial data.

Here are some key features and capabilities of Workday Financials:

General Ledger (GL): Workday’s GL provides a flexible and configurable chart of accounts, allowing organizations to structure their financial data according to their specific needs. It supports multi-entity and multi-currency transactions, automated journal entries, and real-time financial consolidation.

Accounts Payable (AP): Workday’s AP module enables efficient management of vendor invoices, payment processing, and expense reimbursements. It includes features such as invoice matching, electronic invoice submission, and automated approval workflows.

Accounts Receivable (AR): The AR functionality in Workday allows organizations to manage customer invoices, credit memos, and collections. It provides tools for tracking customer balances, generating customer statements, and managing revenue recognition.

Cash Management: Workday’s cash management capabilities enable organizations to track and reconcile their cash positions across multiple bank accounts. It supports bank statement integration, cash forecasting, and bank reconciliation processes.

Expense Management: Workday’s expense management module helps organizations streamline the process of submitting, approving, and reimbursing employee expenses. It includes features such as expense report creation, policy enforcement, and integration with corporate credit cards.

Financial Reporting and Analytics: Workday provides robust reporting and analytics capabilities, allowing users to create ad-hoc reports, financial statements, and key performance indicators (KPIs). It offers real-time visibility into financial data, enabling better decision-making and financial analysis.

Budgeting and Planning: Workday Financials includes tools for budgeting, forecasting, and financial planning. It allows organizations to create budget models, perform what-if analysis, and align financial plans with operational goals.

Audit and Compliance: Workday offers features that support regulatory compliance, including internal controls, audit trails, and segregation of duties. It helps organizations meet industry-specific regulations and financial reporting requirements.

Integration and Extensibility: Workday Financials integrates with other Workday applications such as human capital management (HCM), payroll, and procurement. It also supports integrations with external systems through APIs and provides a platform for customizations and extensions.

Overall, Workday Financials aims to provide organizations with a modern and unified financial management solution that improves efficiency, enhances visibility, and enables better financial decision-making.