When is the last period that will be reconciled in Recon@UVA?
June 2022, due July 30th, will be the last fiscal period reconciled in Recon@UVA. Workday Account Certification will be used after the transition to Workday Financi
Training for Adaptive Planning 3.0 is available now in Workday. This 45-minute training is online and on-demand. If the training has been assigned to you, get in there and get it done before launch!
More training resources are available on the Workday Financials Training page (look for Budget/Adaptive).
FY23 will involve many changes from previous years, with the implementation of Workday Financials, the new chart of accounts (FDM), the first year of UFM 2.0, and, of course, Adaptive 3.0. Here are some considerations about the transition that will help keep you informed on the FY23 process.
Some new things folks will notice about Adaptive 3.0 as opposed to previous versions include:
- reference data from the HR side of the Workday platform to inform budgeting
- the ability to balance transfers across UVA based on each area's input sheet
- Multi-year Financial planning and model scenarios
- Three compensation input sheets (faculty, staff, wage)
- Option of budgeting at the Month level
- Option for collecting internal request information for compensation and non-compensation
There is some confusion around data found in UBI and Adaptive Planning. Sometimes the numbers in each system don’t match up, so people are wondering what the source of truth should be when this happens and if there is any value in trying to reconcile the numbers.
We had to embed an approval step as part of the Preparer workflow so that we could ensure separation of duties should someone inadvertently be identified as both the Preparer and the Approver. In Workday world, a “Review” step (which is what allows for the Preparer to note variances, etc.) is not considered a formal approval so we had to insert that automated step to ensure systematic controls. You do not have to take action. The Account Certification is now sitting with the Approver. The visual below helps clarify this.
Yes - When multiple people are assigned to a Role on any worktag (e.g., Grant, Cost Center, Gift, Project, etc.) that is affiliated with Account Certification, they all are assigned the corresponding Preparer/Approver role for the worktag. Any person assigned the Account Certification can take action (submit). Once action is taken, the Account Certification will be removed from all Preparers/Approvers Account Certifications Awaiting Me table.
The attached pdf illustrates the Account Certification Process
The attached pdf lists the roles for Account Certification
No, items are not physically “checked” during Workday’s Account Certifications process. The functionality shows all activity from the fiscal period being reconciled (per worktag combination) and cannot filter out items that have been approved on the front-end versus not.
Account Certifications will still need to be completed within 30 calendar days after month-end close.
There will be one exception – the first month Jul 2022-2023, normally due Aug 30, 2022 will now be due by Sep 30, 2023. So, you have an extra month to reconcile Jul 2022-2023’s Account Certifications. Please note: Aug 2022-2023 will still be due by Sep 30, 2023.
Yes, both revenue and expenditures will be reconciled during the Account Certification process.
This pdf lists the reports that can be used to reconcile labor charges in the Account Certification process
This pdf describes how to find only those ledger accounts that have activity for the Account Certification process.
View Transaction Details (if needed) – Under the Ledger Accounts to Certify tab, you will see the Ledger Account Balance column, which shows the ledger balance for each transaction based on the worktags used. You can view the transaction details for each transaction by clicking on the blue account balance.
This pdf details variances that occur in Account Certification.
This pdf details how to remediate variances in the Account Certification process.
The reports listed on this pdf are helpful in Account Certification
This pdf illustrates how to find your Account Certifications in Workday.