GL Balance Conversion: Upcoming Activities and Limitations

We've discussed the implications of moving from a two-ledger system (GA & GL) to a flat-ledger system before in the blog.  After we make the switch from Oracle to Workday Financials on July 5, your fund balances in the new system will require adjustment. 

This post offers additional clarification on what to expect immediately after and in the weeks and months following the launch of Workday Financials.

 Here's what to expect from your fund balances at Go-Live:

• Fund balances will be available in Workday at a Cost Center, Fund, Gift, and Designated level. Optional worktags will not be on balances, and the Cost Center and Designated values may need further correction.
• The team is working on the process for converting ITD on the Projectworktag (capital projects) and will be loaded in a similar manner as the Gift/Designated balances.
• Schools/Units will work over the course of the summer to attach optional worktags (Project, Program, Activity, Assignee) or correct cost center/designated mapping as needed. 
• These entries will be made in the prior year and rolled forward so FY23 transactional reporting will not be impacted by this work. This will also ensure that units have a true beginning balance for FY23.
• FY23 Budgets from Adaptive will not be available in Workday until mid-August. This means that there will not be any budget values showing in Workday until mid-August.

Here's how fund balances will be impacted in the stabilization time after Go-Live:

• The FDM team will continue refining default mappings and engaging units on how to realign balances.
• Until your unit completes fund balance realignment – which will take at least the first two months of the fiscal year – you will not have detailed balances or budgets for answering faculty questions about balances available in Workday.
• Fund balance reports in Workday will be changing over the first couple of months while this activity is happening.
• You will be able to run reports in UBI for ending Oracle balances as of June 30, 2022.
• The structure of the current “BBA” report will change to reflect both Fund Balance Available AND Budget Variance.

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Read previous articles on GL Balance Conversion:  How do I see my funds after Workday Financials goes live? and Fund Balance Realignment after Go-Live: what to expect