Enhancing Procure-to-Pay Process with Workday PCard Integration
Streamline entry and approval activities, improve policy compliance, and enhance payment flexibility with the extension of P2P implementation using Workday PCard integration for research purposes in December 2020. Discover the benefits for departments, focusing on daily upload, user experience improvement, and transaction enrichment. Explore insights on budget dates, document validation, and Grant charging scenarios. Be cautious of Grant date validations and PCTV reversals for effective procurement card transaction management.
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Presentation Transcript
Procure to Pay PCard in Workday Project For Research December 2020
PCard in Workday Objectives Extension of the P2P implementation: streamline entry and approval activities Utilize electronic approval workflow and routing for all P2P transactions Improve Pcard user and approver experience Automate Pcard transactions into Workday on a daily basis (versus monthly pull/push) Improve overall policy compliance in the areas of required attachments and approvals Improve our payment flexibility (potential mid-month or weekly settlements), which can improve our rebate 2
PCard in WD Benefits for Departments Daily upload improves the timeliness of recording a growing volume of our expenses Improve departmental user experience of having one less system to log into to complete/investigate their financial transactions Transaction enrichment (adding receipts/attachments, editing FAO and SC, adding additional detail, and approvals) done in Workday Eliminate US Bank lockouts from performing required activities (accounting code enrichment, adding attachments, approving) at the end of the month) Fewer attachment difficulties and more uptime for approvals Decrease the volume of journal entries needed Better visibility into transaction details (supporting documents/attachments) for inquiries and audits 3
Research Topics Budget Date - The Document Date fills the Budget Date field for grant transactions. Validations are in place to ensure: The Document Date is in the same month-year as transactions being verified. If you select more than one transaction in a single verification, all transactions must be in the same month. The Document Date = Transaction Date when a single transaction is being verified. 4
Research Topics Another Date Validation Procurement Card Transaction Verification is being charged to a Grant where the Award/Award Line dates do not encompass the Budget Date In other words, you won t be able to charge a Grant if the date is not valid for that grant/award Caution! It is possible to edit a Procurement Card Transaction Verification (PCTV) after it is fully approved This reverses the original PCTV posting Once re-submitted it will re-route for approval(s) again It is best to plan ahead and ensure the PCTV is re- approved in the same month or else the re-posting of the PCTV will not be in the same month This does not affect Award Cost Processing which is based on payment of the PCT 5
Training MyPath modules: Policy and Workday UR Procurement Website Reference Guide Frequently Asked Questions Video recording of instructor-led training Zoom instructor-led training sessions Registration will be prioritized for users that are new to Workday Registration will be limited for each session to make sessions manageable with questions Check-in/Q&A calls for weeks of 2/1, 2/8, 2/15 Within Workday: WalkMe 6
Calendar February 14
