GENERAL LEDGER

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An Innovative Approach to General Ledger

Workday Financial Accounting delivers all the features of a traditional General Ledger through an innovative approach. By capturing and storing richly described business events, Workday Financial Accounting can produce the same high-quality financial accounting of a traditional General Ledger. Moreover, information that historically required a separate actionable analytics tool as well as support controls that traditionally required a separate Governance, Risk and Compliance (GRC)  tool now can be obtained through Workday's General Ledger.

Workday Financial Accounting supports all of your General Ledger needs:

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Consolidated Trial Balance Report

• Chart of Accounts
• Journal Processing
• Consolidation
• Allocations
• Budgets and Plans
• Financial Reporting

Traditional accounting-focused General Ledger systems were designed to support transaction-based accounting and reporting. They were never designed to support comprehensive business reporting or the governance and control requirements that today's businesses must adhere to. Understanding what has happened in a business, when it happened, and why it happened is more critical than ever—not only to abide by new rules and regulations, but also to manage and streamline your business effectively.

With Workday Financial Accounting, you can get all of the benefits of a traditional General Ledger system plus much more effective insights through Workday's events-based system. The benefit of capturing detailed business events is that you have a much richer history of what has happened in your business; from there, you can produce rich reports, enforce controls and regulations, as well as produce your standard accounting reports—all from a single system. Existing systems are unable to do this because detailed financial can't be recreated from the simple journal transactions that they capture.

Read more about Workday Financial Accounting.