Workday-FIN: Budget Amendment

Owned by Tammy Voigt
Jun 26, 2024
4 min read

 

Overview:

This document explains how Budget Analysts can create budget amendments.

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

Icons referred to in this document

 

image-20240626-123742.png

Required Field

 

image-20240626-123802.png

Prompt

 

Add Row

 

Remove row

 

 

 

 

Create Budget Amendment

  1. Enter Create Budget Amendment in the Search bar and select the task.

  2. The Create Budget Amendment pop up displays.

  3. Fill in the required fields:

    1. Plan Structure: use the Prompt to select the appropriate institutional budget structure.

    2. Company: use the Prompt to select Company.

    3. Plan Name: use the Prompt to select Plan Name.

  4. (Optional) Fill in the following fields under Populate Existing Budget Lines:

    1. Ledger Account/Summary: use the Prompt if applicable.

    2. Worktags: use the Prompt if applicable.

    3. Plan Period: use the Prompt if applicable.

  1. Select OK.

  2. Fill in the required fields:

    1. Amendment Date: automatically populates to the current date.

Note: Select the Calendar to change the date if applicable.

b. Description: enter a brief Description for the budget amendment.

c. Amendment Type: use the Prompt to select Amendment Type.

d. Balanced Amendment: Automatically populates.

Note: To uncheck balanced amendment, you must belong to the central budget group.

  1. Fill in the fields under Budget Amendment Lines tab:

Note: The plan structure and budget amendment depends on the user’s security role(s). There may be more or less fields to complete.

a. Period: use the Prompt to select the Period.

Note: This is required. Refers to the budget period; in the screenshot example below, it refers to the fiscal year 2023 budget.

b. Ledger Account/Summary: use the Prompt to select the ledger account/summary.

c. Select one driver worktag:

i. USource: use the Prompt to select worktag.

ii. Gift: use the Prompt to select worktag.

iii. Project: use the Prompt to select worktag.

d. Based on the selected driver worktag in step c above, the following worktags are atuomatically populated:

i. Cost Center

ii. Fund

iii. NACUBO Function Code

e. Choose or enter one of the following:

Note: Confirm the Spend Category or Revenue Cateogry selected aligns with the Ledger Account Summary.

i. Spend category: use the Prompt to select worktag.

Note: Only required for expenses; budgeted at the spend category hierarchy.

ii. Revenue Category: use the Prompt to select worktag. Note: Only required for revenue.

f. Additional Worktags: use the Prompt to select worktags:

i. Assignee: use the Prompt to select Assignee.

ii. Detail Code: use the Prompt to select Detail Code.

g. Amount change: enter the amount change.

Notes:

  • Budget Amendments must be balanced; there must be a debit line and a credit line.

  • To Increase an expenditure budget, use a positive number.

  • To decrease an expenditure budget, use a negative number.

  • To Increase a revenue budget, use a negative number.

  • To decrease a revenue budget, use a positive number.

  1. Memo: enter a description of specific line of activity.

  2. Repeat step 7 when adding an additional row.

Notes:

  • Budget Amendments must be balanced.

  • If the first line created was a positive debited amount, the second line must be a negative credited amount.

  1. Under the Attachments tab, drag and drop files or select files. Note: This is required.

  2. Select Submit.

Notes:

  • This will go through an approval process; several approvals may be needed depending on the worktags chosen.

  • The initiator can make edits as long as the budget amendment is in draft status

  • An approved budget amendment cannot be edited, only reversed.

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