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Finance

Finance Update

The Workday Finance module has completed unit testing of the business processes. Several preview sessions have been held to provide key stakeholders an initial look at business process designs as they will appear in Montclair State’s Workday environment. End to End testing of the business processes is currently underway and will be completed by the end of August. User Acceptance Testing (end-user testing) will begin in early October and official training is slated to begin in early November. Workday Finance will Go – Live in January 2020.

Announcements

The Expenses worklet has now been added to all users’  Workday dashboards.

Cash Receipt Transmittal Form As per the Finance Cash Receipts Update sent on 11/6/19, the Cash Receipt Transmittal Form has been replaced with the Cash Sale business process within Workday to record revenue not attached to an invoice, or supplier refund.  Please use the Record Cash Sale function within Workday to deposit the cost center’s receipts and as such this form is not necessary.  The Cash Receipts Transmittal form should only be used when the cost center finance specialist is unable to initiate in Workday. The form is used to facilitate the recording of a Cash Sale in Workday by the Cashiers within the Student Accounts Office.

Account Transfer Voucher Form
An account transfer journal voucher form (also known as an “accounting adjustment”) is initiated when a cost center is correcting and/or transferring a previously posted non-payroll expense or revenue to another account or cost center.  Or, a non-payroll revenue or spend category.  The form is to be used when an accounting adjustment or an accounting journal business process within Workday can not be completed and requires General Accounting to make an adjustment to actual revenue or expenses.  Please refer to the instructions of this form for further information.

The job aids on Record Cash Sale, Accounting Adjustments and Accounting Journals can be found at https://www.montclair.edu/finance-and-treasury/workday-resources/finance-job-aids/   and/or register for training for the accounting adjustments and accounting journals (also known as “Accounting Transfers”) business processes.

Training Announcement for Finance and Performance Management

Updates

Presentations

Introduction to FDM