CASH MANAGEMENT

The ultimate measure of a business is cash. Using Workday Cash Management, companies can automate the coordination and control of cash-flow activity. Workday can automate administrative and control activities, such as bank statement reconciliation, and also provide embedded actionable analytics for better insight and decision making.

Banking

• Track and manage your business's financial institutions, branches, and bank accounts 
• Create depository and source bank accounts
• Transfer funds between accounts, record voided checks, and run detailed transaction reports

Bank Account Reconciliation

• Load bank statements using BAI2 file format
• Automatically reconcile based on user-defined rules and generate transactions for first-notice items
• Generate worksheets to support reconciliation, view suggested matches to unreconciled items, and create resulting account reconciliation entries

Settlement

• Leverage a unified settlement engine to manage all payments across the entire business for any purpose, resulting in improved cash visibility and management 
• Settle payroll, supplier payments, employee reimbursements, customer refunds, etc., from one place
• Process direct debits, customer credit cards, paper checks, other electronic transactions (ACH, EDI, ISO20022 ) and positive pay
• Support ad hoc transactions to record miscellaneous activities against any bank or petty cash accounts
• Capture approvals and automate routings, integrations, and reports from settlement and payment release through bank reconciliation

Real-Time Cash Forecasting

• Get overview of outstanding inflows and outflows to support decisions about funding, paying, and collecting money
• Get real-time visibility into cash balances to more accurately forecast cash flows in the future
• Drill down, across, and through operational transactions for more detailed reporting insight