The account structure in Workday is a combination of worktags. Worktags replaced the account codes that make up the account strings in Escape. Worktags need to be assigned to line items in order to generate financial information and documents like journal entries, purchase requisitions and orders, job requests, expense reports, ledger summary and other reports. Since it essentially functions like a coding mechanism, worktags allow users to customize reports.
While some terminologies have changed, the accounting approach remains the same. The account structure is in accordance with the Budget and Accounting Manual of the California Community Colleges Chancellor’s Office. There are four basic worktags: fund, taxonomy of programs (TOPS), cost center and object code. Supplementary worktags are used to further categorize financial information.
Other references such as Employee, Company, Time Period, Ledger account, Supplier, Journal, Journal Source, and other business documents can be used as additional worktags.
A Worktag Guide is available at the Accounting page of the Workday Training Site.