Benefits of Workday HCM, Payroll and Finance Course

1. WORKDAY HCM, PAYROLL AND FINANCE © 2020 ERP Cloud Training

2. WORKDAY HCM © 2020 ERP Cloud Training

3. WORKDAY HCM OVERVIEW Give a striking overview of the problem and explain it briefly. Elaborate on how this negatively impacts people an their experiences. Workday HCM is a cloud-based human resource management software system that joins a wide range of HR functionality into a unique system. The software presents benefits, talent Frame the problems effectively as it will set the stage of your entire pitch. management, payroll, time tracking, compensation, workforce planning, and recruiting © 2020 ERP Cloud Training

4. Workday is invented to give you various ways of doing the identical task. Basic Navigation To navigate the system, you need to be familiar with: • Standard screen elements • Navigation tools • Single and multi-select fields © 2020 ERP Cloud Training

5. • Supervisory Organizations are the foundation of HCM. • They group workers into a management hierarchy. Supervisory Organizations Characteristics of Supervisory Organizations  Positions are only created within a supervisory organization.  Employees must be hired into a supervisory organization. Organizational roles have responsibilities . Unique business processes can be assigned. © 2020 ERP Cloud Training

6. Primary Structure Organization Type •Supervisory •Company •Cost center •Region •Matrix •Pay group •Retiree •Custom Foundation of Workday HCM We can hire a Worker a supervisory organization and make that worker be a part of all other organization type © 2020 ERP Cloud Training

7. Managing Supervisory Organization © 2020 ERP Cloud Training

8. We can also create our own Custom Organization types. You can use Custom Organizations to: Custom Organization Aggregate data for reports.  Use roles for the custom organization for business process routings.  Compensation  Security © 2020 ERP Cloud Training

9. Custom Organization Technology © 2020 ERP Cloud Training

10. Reports in Workday are designed for the functional user. Overview Of Reporting Reports are built into the application, allowing users to take action on the report output directly from the user interface Reports can be used in integrations, accessed from mobile devices, and embedded in business process transactions © 2020 ERP Cloud Training

11. Custom reports are designed and built by customers using the Workday Report Writer tool. The All Custom Reports report displays all custom reports in the tenant. CUSTOM REPORT TYPES  Simple Custom Reports  Advanced  Matrix  Search  Transposed  nBox  Trending  Composite © 2020 ERP Cloud Training

12. WORKDAY PAYROLL © 2020 ERP Cloud Training

13. WORKDAY PAYROLL OVERVIEW Workday Payroll provides a complete platform that permits you to manage your entire payroll process, including:  Gathering required payroll inputs.  Calculating gross pay, taxes, and deductions.  Conducting audits before and after payroll processing.  Generating accounting entries  Paying employees and Providing payslips.  Providing reports and tools to assist you in your reporting requirements. © 2020 ERP Cloud Training

14. Payroll Setup Setup the payroll processing framework Setup Payroll accounting Setup withholding orders for workers Assign payment election rules to workers Assigns workers to pay groups Setup Banking and Settlement Define earnings and deduction Define payment election rules Setup Integrations Configure auditing Setup company taxation Assign worker- level taxation Configure business processes Configure Reporting © 2020 ERP Cloud Training

15. Payroll Processing Steps Add Payroll Input Run Retro Payroll Integrations Calculation Review Retro Results Settle payments Complete Payroll Complete Retro Review Payroll and Accounting Results Run Payroll Calculation © 2020 ERP Cloud Training

16. Sources of Payroll data Payment Elections Basic Biographical Absence Worker and Job Withholding Orders Benefit Elections Work Schedules Compensation Payroll Tax Withholding Elections Payroll Input © 2020 ERP Cloud Training

17. Payroll Processing Framework The payroll business framework consists of elements that must be planned and configured before running regular payroll. It is composed of  Period Schedule  Run Categories  Pay groups The association between these three elements identifies when to process payroll, what to process, and who to process © 2020 ERP Cloud Training

18. Elements of Payroll Processing Framework Period Schedule Run Category Pay Group • Processing frequency • Period start and end dates • Payment dates • Forward accruals • Who to process(must share the same period schedule and be in same country • Type of payroll run( Regular, Bonus, Adjustment, etc,) • Define eligibility criteria • Allow for specific, granular eligibility © 2020 ERP Cloud Training

19. Tax Setup Steps Determine if exceptions are required Set up company state/provincial taxes Set up company tax ID Set up company federal taxes Map wage tax components to tax reporting forms Enter worker- specific data Set up company local taxes © 2020 ERP Cloud Training

20. Workday Delivered tax Data Workday provides and maintains the following:  Information on default tax values, which are delivered as Payroll Tax Authority Defaults  Deduction and pay components groups associated with payroll tax data according to country tax Authorities  Federal, state/Province, and local tax data for payroll tax processing © 2020 ERP Cloud Training

21. Set up Worker Tax Elections Payroll Administrators and Payroll Partners Employees Inbound Web Services • Must have appropriate security • Employee Self Service>Withholding, Elections(by default, Federal payroll self- service is enabled for all employees) • Can be used to load federal, state and local tax elections • Put state/local tax Elections for workers • Put payroll Federal W- 4 Tax Election • Put Payroll payee FICA for employee FICA OASDI and Medicare exemption • Use the task add workers US tax Elections © 2020 ERP Cloud Training

22. The Calculation Engine  The calculation engine is a core system utility that enables you to define payroll calculations and the business logic and rules governing those calculations.  It used to build payroll earnings and deductions ,and is used in other Workday functionality, such as Workday Absence © 2020 ERP Cloud Training

23. Calculations Calculation values can be used in : • Earnings • Deductions • Taxes • Pay Accumulations • Time off plans Calculation returns a • Number • Date • True or False statement • Other value Each calculation performs a specific operations © 2020 ERP Cloud Training

24. Types of Calculations  Calculations that return a numeric value  Calculations that return a date value  Calculations that returns a Boolean value  Payroll-specific calculations . © 2020 ERP Cloud Training

25. Pay Accumulations  A pay accumulation is a set of earnings, deductions, pay component-related calculations, pay components groups, or other pay accumulations for which Workday can calculate a total.  Accumulations return values used in payroll calculations.  Pay accumulations return a single value based on the pay period being calculated © 2020 ERP Cloud Training

26. Earnings and Deductions Earnings and deductions give you the flexibility to configure complex payroll calculations that enable you to process payroll based on your business needs.  Recognize sources of payroll calculation values.  Create and edit earnings and deductions  View net pay validation.  Maintain payroll audit configurations.  Specify limits for recouping arrears. © 2020 ERP Cloud Training

27. Payroll Calculation values Workday provides numerous data retrieval elements to pull values into payroll calculations. Payroll Calculations Values © 2020 ERP Cloud Training

28. Common sources of Payroll Calculation values Time Tracking Entries Compensation plans Payroll Calculations Benefits Plans Absence/Time-off Payroll Input © 2020 ERP Cloud Training

29. Withholding Orders Workday provides rules for processing the following types of involuntary withholding orders:  bankruptcy orders  Creditor garnishments  Federal administrative wage garnishments  Federal student loan  Federal tax levies  State tax levies  Support orders(Including lump sum)  Wage assignments © 2020 ERP Cloud Training

30. Steps for setting up Withholding orders Workday applies withholding limits and sets garnishment priorities according to State and federal laws. The High-level steps for setting up and processing withholding orders are: Identify disposable income for a withholding order Create a deduction recipient Record the details of the withholding order © 2020 ERP Cloud Training

31. Payroll Accounting For Workday Payroll to accurately pass payroll information to after completing the accounting setup. You can process On and Off cycle payrolls to generate  Accounting entries  Review accounting results,  Correct any posting errors  Ledger period errors  Other accounting errors © 2020 ERP Cloud Training

32. Payroll Accounting Set up Steps • Define ledger account types 1 • Define a master account set for payroll 2 • Define an account set for payroll 3 • Define default accounts for posting and posting rules conditions 4 • Define a fiscal schedule for payroll accounting 5 • Define fiscal schedule posting intervals for payroll accounting 6 • Create and initial fiscal year and the next fiscal year 7 • Define company accounting details 8 • Define ledger types 9 10• Assign a ledger type to each company 11• Define ledger years and periods 12• Open ledger periods 13• Maintain journal source mapping to operational transactions and maintain payroll journals options © 2020 ERP Cloud Training

33. Roles and Security A security group is a collection of system users. Users can either be grouped explicitly. Types of Security groups  User-Based  Role-Based  Service Center-Based  Job-Based  Integration-Based  Segment-Based  Location Membership  Organization Membership  Aggregate  Intersection  Level-Based © 2020 ERP Cloud Training

34. Pay Component Security Pay Component Security enables non-Payroll users, such as managers and benefits administrators, to view the results of selected earnings and deductions Example  Enable managers to view hourly pay and overtime pay for employees in their organization  Enable benefits administrators and partners to view benefit deductions only. © 2020 ERP Cloud Training

35. WORKDAY FINANCE © 2020 ERP Cloud Training

36. Banking and Settlement  To Setup the Banking, you must define the business entities that provide company financial and banking services and hold physical bank accounts, define branches of a financial institution, establish standard bank accounts, and establish petty cash accounts  You must setup the settlement process by defining the valid ways to make payment © 2020 ERP Cloud Training

37. Banking and Settlement Configuration Define payment Election Rules Configure Check Print Layout Configure ACH Integrations Configure Payroll Payslip Configure Business Processes Define Routing Rules Define Bank Accounts © 2020 ERP Cloud Training

38. Business Process Who approves or denies something that happened Who needs to do additional tasks Business Process Who needs to know something happened Any additional system events that need to be initiated © 2020 ERP Cloud Training

39. Payroll-Specific Business Process There are 12 Payroll-Specific Business Process Assign Costing Allocation Assign Pay Group Change No Retro Prior to Date Complete Federal withholding Elections Correct Time Off Create Initial Payroll Commitments Create Payroll Commitment Adjustments Maintain Payroll Reporting Codes for Workers Pay Cycle Event Request Leave of Absence Request return from Leave of Absence Request Time Off © 2020 ERP Cloud Training

40. Pay Cycle Event The Pay Cycle Event business process uses Workday’s build in work flow. As delivered, the Pay Cycle Events contains two batch processes  Pay Calculation Pay Complete By using the Pay Cycle Event Customers are able to retrieve a step-by step audit of who approved which steps and when. © 2020 ERP Cloud Training

41. Pay Cycle Event  Payroll Input Tax Integration and Garnishments Run Retro Calculation Review Retro Results Settle Payments Run Payroll Complete Complete Retro Review Payroll and Accounting Results Run Payroll Calculation © 2020 ERP Cloud Training

42. Payroll Processing Payroll process is used to calculate and complete payroll and generate payroll accounting entries .Payroll process in its simplest form is:  Input worker data  Calculate  Review  Complete  Settle © 2020 ERP Cloud Training

43. Off cycle Processing Off Cycle processing transactions occurs outside of a regularly scheduled, on cycle pay run and include:  Manual Payments  On Demand  Reversals Off Cycle entries can be created and then attached to the current on cycle pay period or to a prior pay period © 2020 ERP Cloud Training

44. Manual Payment Manual Payment are used to record payments made outside the Workday Payroll such as third party sick pay, stock etc,  Manual Payment must reflect all worker deductions and taxes.  Manual Payment can also be used to move taxable wages and balances. © 2020 ERP Cloud Training

45. Processing Sequence  Manual Payments that record payments made to employees outside of workday payroll  On Demand payments that replace or are issued in addition to employees on cycle payments  Reversals that back out a completed pay calculation for an employee © 2020 ERP Cloud Training

46. Reporting in Workday  Workday’s Report writer is build in to the core product. Payroll information is available through Report writer for the creation of custom Payroll Reports.  Workday Payroll comes with many delivered reports, easily modifiable in report writer. © 2020 ERP Cloud Training

47. Categories of payroll data • By pay components • By employee • By organization • By balance period Balances  Pay Groups  Pay Periods  Pay Components  Worktags • Totals within a set of pay results • Activity within a set of pay results Activity  Run Categories  Security/Roles Exceptions • Values outside of a threshold © 2020 ERP Cloud Training

48. ERP Cloud Training ERP Cloud Training provides in-depth functional skills in the field of cloud-based ERP training software. We are giving training for various modules of Workday like Workday HCM, Integration, Finance, Reporting, Payroll, and Studio Training and more. Our trainer has guided over 40,000 students who have been placed in reputed organizations. © 2020 ERP Cloud Training

49. For more info +1 214-872-7517 workday@erpcloudtrainingonline.com Workday HCM, Payroll and Finance Course © 2020 ERP Cloud Training