FST Updates: May 26, 2022

 

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Workday Finance Training

Over 1000 folks have attended a Workday Finance training at this point.  Keep in mind that courses were designed for roles that have high-impact transactions in Workday, so not all security roles have required training.  If you go to the Workday Financials Training page on the website, you’ll see an overview of which roles have required training, which don’t, and what resources are available for all.  See also this quick reference guide on how to sign up for training in Workday Learning.

Read the full training update on the blog here. 

Cutover from Oracle to Workday

"Cutover" refers to a span of five days from June 29 over the Independence Day weekend where the FST Team executes the process of switching over from Oracle to Workday Financials. Now is the time for everyone in schools and units to review the business processes that will be affected by the cutover period.   It’s important that you consider what deadlines related to common business practices in Oracle will affect you and your team, and that you think about what your area needs to do to be ready and have what you need by the time the cutover is in full swing.  See the Cutover Resources page for all the deadlines.

Read about early Payroll deadlines - Review Cutover impacts on Sponsored Accounts - Read the full Cutover update

Fund Balances after Workday Finance Launch

The transition from Oracle to Workday means we’re going from a two-ledger system to a flat ledger system, and while that is great in the long run, it does mean that there’s a significant adjustment required. Right now, the FST team is working on converting the funds from Oracle to Workday at a high level.  After go-live, that high-level group of funds will need some intensive review by fiscal professionals in the schools and units to settle where those funds need to be specifically, using the new Foundation Model, which replaces the old Oracle PTAO.  It may take a couple of months post go-live for fund balances to get sorted out.  We know that work and spending go on, though – so know that Faculty and others will still be able to assess their fund balances, via UBI’s record of historical balances and an understanding of current spending.

Read the full Fund Balance Update here.

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