As part the second round of Customer Confirmation Sessions (CCSs), continuing through June 17, the Finance Strategic Transformation (FST) team provided an overview of where things currently stand with the Foundation Data Model (FDM), the Workday Financials term for chart of accounts.
Read on to see finalized/pending decisions and a sample FDM string.
Key Decisions
- Cost Center to Replace Department: Department org assignments in HR Workday will be replaced by Cost Center org assignments for all UVA workers. Workers’ supervisory org assignments will be unaffected.
- Program and Activity Worktags: The Program and Activity Workday worktags will be optional, available to schools/units for internal reporting purposes.
Open Items
- Project Worktag and Multi-funding Source Functionality: Workday Financials multi-funding source functionality provides a highly dynamic way for expenses to be allocated to FDM strings based on predefined parameters. This functionality for on non-capital project scenarios, including tracking start up packages.
- Function Worktag on Transactions: The FST Team is currently testing scenarios for how the function worktag will be derived on a transaction. The Worktag could potentially be related from a single Worktag or based on the single Worktag, a user is provided a list of allowed values.
- Cost Share Setup: The FST Team is currently testing scenarios for how cost share on grants will be set up and how they will function as companions within the grant application while utilizing a non-research funding source.
- Required Worktags for ISPs: The FST Team is currently testing scenarios to determine what worktags ISPs will be required to collect when a school/unit initiates a transaction with an Internal Service Provider (i.e. FM, Copy Services, Bookstore, etc.)
Sample FDM String
Click on image to enlarge.
FDM Worktag Definitions and Other Info
Click here for current details about the FDM worktags, including definitions, naming conventions, maximum field length, and more.
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