When Workday Financials goes live on July 5, the fund balances you see in the new system will require some clean-up (read this previous blog post for a rundown of how things will look at go-live).
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As you might know, the transition from Oracle to Workday means we're going from a two-ledger system to a flat ledger system, and while that is better for UVA in the long run, it does mean there's an intensive adjustment required.
As you read this, the FST team is working on converting the funds from Oracle to Workday at a high level. In the weeks and months after go-live, fiscal professionals in your school or unit will be working to settle that high-level pool of funds where they need to be, using the new Foundation Data Model (FDM), which replaces the old Oracle PTAO.
What if you need to know fund balances during that post-go-live transition time when balances are still being sorted out?
The good news is that UBI is still a part of our future state, so you can check your historical balance there. That, coupled with your understanding of your recent spending, should give you a solid idea of where your funds stand as your local team sorts out the FDM worktags on the funds in Workday.
Preparation for the process of realignment could take up to two months after Workday Financials launches. Please be patient as your team does this important and detailed work. They are learning the new system, too -- and within a short time, we are all going to reap the benefits of the massive effort we've put in as we enjoy the flexibility and insight that a modern financial system gives us.
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Read previous coverage of the GLfund balance realignment on the blog
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