Simplifying Worktag Splits for Your AP Team

Does your Accounts Payable team waste hours every month manually entering the same invoice splits in Workday?  Or do they resort to error-prone EIB loads for complicated invoices because splitting is so tedious? If so, the new Worktag Split Allocation Template feature in Workday 33 is a great way to help you to avoid those common headaches.

This functionality works really well when you need to frequently allocate costs across any combination of worktags (cost center, business unit, location, etc) on a percentage basis. For example, a supplier sends a single bill every month, and costs should be shared evenly among four cost centers.  You would just create a new Allocation Template for allocating 25% to Cost Center A, 25% to Cost Center B, 25% to Cost Center C and 25% to Cost Center D. Each month, Accounts Payable could simply select the Allocation Template on the invoice header, and add a single invoice line for the shared cost.  Workday would automatically split the cost between the four cost centers.  

Although this is a relatively simple feature, Workday has provided flexibility in a few ways.  You can also select Allocation Templates on the line level, when it doesn’t make sense to use a single Allocation Template for the entire invoice.  Templates are effective dated, so if your allocation percentages change over time, you can update your existing template and Workday will reference the correct template based on the date of your invoice.  Once you’ve started to create these templates, you can share them with other users on your team. These templates can even be restricted by company if necessary.

This functionality can be enabled in your Workday tenant with a domain security change.  To learn more about this feature and other useful additions to Workday 33, reach out to Makse Group today!