Canceling Accounting Journals During Month End Close

New process alert!

This April, Workday Finance users across Grounds will notice a difference in the process for closing inactive accounting journals during month-end close activities. 

In the past, Central Finance has closed "In Progress" journal entries during the monthly close.  Going forward, journal entries with the status "Created" will also be canceled.  

During April, the Financial Reporting Team will review any journals that were "Created" before April and work with users to ascertain whether the journal should either be canceled or made ready to submit. 

You can use the "Find Journals" report in Workday to receive a report of your accounting journals that are either "Created" or "In Progress."  See the process for Canceling Accounting Journals and for Copying Cancelled Account Journals in these slides shared at the April 3 Fiscal Administrators' Meeting.  

Let us know if you have questions or concerns by reaching out to Ask Finance.

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Want to watch Stephanie McAteer of the Financial Reporting Team share about this new process?  Go to the UVAFinance webpage Meetings & Resources and scroll to "Fiscal Administrators."  The April 3 meeting recording contains her presentation starting at the 33:35 mark.