Overview of Workday Finance
Workday Finance Training offered by Stalwart Learning is a comprehensive program designed to equip participants with the essential skills and knowledge required to proficiently manage financial processes using the Workday finance system. This training is ideal for finance professionals, accountants, and individuals aspiring to enhance their expertise in Workday Finance.
Course Highlights
- Gain a deep understanding of Workday’s finance management capabilities and functionalities.
- Learn to navigate the Workday Finance user interface and perform key financial tasks.
- Develop proficiency in financial accounting and reporting within the Workday platform.
- Explore various modules of Workday Finance, including General Ledger, Accounts Payable, Accounts Receivable, and Cash Management.
- Learn to configure and customize financial processes to align with specific business requirements.
- Acquire hands-on experience through practical exercises and real-world scenarios.
- Benefit from the expertise of industry practitioners with extensive experience in Workday Finance implementation and training.
Course Objectives
By the end of this training program, participants will be able to:
- Understand the fundamentals of Workday Finance and its significance in financial management.
- Effectively navigate the Workday Finance user interface and perform essential financial tasks.
- Comprehend financial accounting principles and reporting standards within the Workday system.
- Gain proficiency in utilizing various modules of Workday Finance for day-to-day financial operations.
- Configure and tailor financial processes to meet specific organizational requirements.
- Generate comprehensive financial reports and analyze financial data using Workday’s reporting capabilities.
- Implement best practices for maintaining data integrity and security within the Workday Finance system.
Who Should Attend
- Finance professionals seeking to enhance their knowledge and skills in utilizing Workday Finance.
- Accountants and financial analysts looking to leverage the capabilities of Workday for efficient financial management.
- Professionals involved in Workday Finance implementation, administration, and support.
- Individuals aspiring to pursue a career in Workday Finance consulting or implementation.
Prerequisites
- Basic understanding of finance and accounting principles.
- Familiarity with enterprise financial management systems (preferred but not mandatory).
- Proficiency in using computer applications and general business software.
Note: This training program is designed to provide participants with practical knowledge and skills in Workday Finance but does not grant official Workday certification. Separate certification exams are available for participants interested in pursuing Workday certification.
Duration
3 to 5 Days
Module 1: Introduction to Workday Finance
- Overview of Workday Finance
- Key features and benefits of Workday Finance
- Understanding the Workday Finance user interface
- Navigating the Workday Finance system
Module 2: Workday Financial Accounting
- Financial accounting principles in Workday
- Chart of accounts and ledger management
- Journal entries and transaction processing
- Intercompany transactions and reconciliations
Module 3: Workday General Ledger
- Setting up and managing the general ledger
- Chart of accounts configuration
- Period close activities and financial reporting
- Managing journal entries and allocations
Module 4: Workday Accounts Payable
- Accounts payable processes and workflows
- Vendor management and payments
- Invoice processing and approvals
- Expense reimbursements and travel management
Module 5: Workday Accounts Receivable
- Customer management and invoicing
- Revenue recognition and billing processes
- Cash application and collections
- Credit management and dunning
Module 6: Workday Cash Management
- Bank account management and reconciliation
- Cash flow forecasting and liquidity management
- Bank transactions and reconciliations
- Treasury management and cash positioning
Module 7: Workday Reporting and Analytics
- Overview of Workday reporting capabilities
- Financial reporting and dashboards
- Customizing and creating reports in Workday
- Analyzing financial data and generating insights
Module 8: Workday Finance Configuration and Customization
- Configuring Workday Finance settings
- Customizing financial processes and workflows
- Security and access controls in Workday Finance
- Best practices for system configuration and maintenance
Module 9: Data Integrity and Security in Workday Finance
- Data management and data quality in Workday
- Audit and control considerations
- Compliance and regulatory requirements
- Ensuring data security and privacy
Module 10: Workday Finance Integration
- Integrating Workday Finance with other systems
- Data integration methods and tools
- Troubleshooting integration issues
- Monitoring and managing integrations
Module 11: Workday Finance Implementation and Best Practices
- Planning and executing a successful Workday Finance implementation
- Change management and user adoption strategies
- Continuous improvement and optimization
- Industry best practices in Workday Finance
Module 12: Case Studies and Hands-on Projects
- Applying learned concepts to real-world scenarios
- Hands-on exercises and projects for practical experience
- Case studies and discussions on Workday Finance implementation challenges
- Q&A sessions and review of best practices