Workday-FIN: Bank Account Management

FIN: Bank Account Management

Overview

This document explains how Finance personnel in the security roles of Bank Configurator can create and manage bank accounts; how those in the security roles of Bank Reconciliation Specialist, Cash Operations Lead, Cash Specialist, Finance Analyst and Finance Auditor can view bank statements; and how those in the security roles of Bank Reconciliation Specialist and Cash Operations Lead can review bank statement lines.

The recommended browser for accessing Workday is Google Chrome. However, Mozilla Firefox and Apple Safari may also be used.

Icons Referred to in This Document

Radio	Prompt	Related Actions	Required Field
Calendar

Creating Bank Accounts

Enter Create Bank Account into the Search bar and select the task.
Create Bank Account pop up displays.
1. Account Name: enter a Name for the bank account.
2. Bank Account Type: use the Prompt to select the Bank Account Type.
3. Country: enter the Country Name.
4. Select OK.
The Create Bank Account page displays.
Fill in or review the following fields under the Account Information section:
1. Account Name: auto populates based on the information entered on the pop up.
2. Organization: select the Prompt and choose the Institution to link the bank account to.
3. Account Currency: defaults based on Organization selected.
4. Use the Radio to select either Accept All Currencies or Accept These Currencies.

Note: If Accept These Currencies is chosen, use the Prompt to add which forms can be handled by the account.

e. Allowed Payment Types: select the payment types the account can receive.

Fill in the following fields under the Account Details section:
1. Country: auto populates to United States of America.
2. Financial Institution: use the Prompt to select the bank or financial organization associated with the account.
3. (Optional) Bank Branch: select the Prompt to choose the local financial institution branch

for the account.

d. Routing Transit Number: enter the bank’s routing number.

e. Account Number: enter the bank account number.

f. Bank Statement Format: select the Prompt to choose the format to use when generating bank account statements.

(Optional) Use the Primary Account Usage Prompt to select the types of transactions allowed for the account under Bank Account Usage section.
Select Submit.

Notes:

This will go through an approval process unless you are the initiator.
You will be notified if it is denied.

Editing Bank Accounts

Enter Edit Bank Account into the Search bar and select the task.
The Edit Bank Account pop up displays.
Use the Bank Account Prompt select the Account to edit.
Select OK.
The Edit Bank Account page displays.
Make any applicable edits to any fields requiring updates.
Select Submit.

Viewing Bank Statements

Enter Find Bank Statements into the Search bar and select the report.
The Find Bank Statement pop up displays.
Fill in the following fields to narrow down the results on the report:
1. (Optional) Use the Company Prompt to select your Institution.
2. (Optional) Use the Bank Accounts Prompt to choose the desired account.
3. (Optional) Use the calendars for Statement Date On or After and Statement Date On or Before to set maximum time values for the search to include.
4. (Optional) Use the Reconcile Status Prompt to select a Reconcile Status.
Select OK.
The Find Bank Statements report displays.

Note: Viewable fields in the report include Reconciliation Status, Bank Account, Statement Date, and Balance.

Select Related Actions by hovering over the Magnifying Glass to perform additional statement- related actions.

Notes:

The Bank Statement related actions includes several options, including running a reconciliation report; viewing reconciliation report details; clearing an existing reconciliation; and managing reconciliation exceptions.
The Bank Account related actions includes an option to find specific bank statement lines.

Viewing Bank Statement Line

Note: The Bank Statement Line report allows you to review statement lines for companies, bank accounts, and/or bank statements.

Enter Find Bank Statement Lines into the Search bar and select the report.
The Find Bank Statement Line pop up displays.
Fill in the following fields to help narrow down data displayed on the report:
1. Company: use the Prompt to select your Institution.
2. (Optional) Bank Accounts: use the Prompt to choose the Account.
3. (Optional) Bank Statements: use the Prompt to limit the search a specific type of statement.
4. Start Date: use the Calendar to select the Start Date.
5. End Date: use the Calendar to select the End Date.
6. Type Code: use the Prompt to select the Type Code.
7. Amount Greater Than: enter a numerical value.
8. Amount Less Than: enter a numerical value.
9. Reference Number: enter a numerical value.
10. Reconciliation Status: use the Prompt to select the Reconciliation Status.
Select OK.
The Find Bank Statement Lines report displays.

Note: Viewable fields in the report include Bank Account and Bank Statement information; date; Type Code; Line Amount; Debit or Credit status for the line; and Reconciliation Status.

Select the Related Actions by hovering over Magnifying Glass to perform additional statement-related actions.

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