The Next Level Feature Adoption Presentation

Optimize Your Supplier Settlement Process

Eunice Tan, Financials Product Manager
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 Eunice Tan
Product Manager - Banking and Settlement

Workday

Workday Confidential
 Optimize Supplier Settlement Process

Efficient Streamline Minimize Cost

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 Agenda

Workday Payment Platform

Dynamic Supplier Payment Date

Settlement Run Custom Filter

Schedule Settlement Run

Settlement Dashboard

Demonstration

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 Workday Payment Platform

Banking Setup Settlement Post Settlement Connectivity

• Settlement Bank Account • Schedule Settlement • Payment • ISO 20022

Acknowledgement
• Bank Account Validation • Multicurrency Settlement • NACHA ACH
• Payment Return
• Bank Institution Records • Shared Services • UK BACS
(Payment on Behalf of) • Check - print, positive
• Bank Routing Rules pay, void, stop, escheat
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 Dynamic Supplier Payment Date

Workday enables you to dynamically change your supplier

payment dates on settlement runs
Settlement
Run
Benefits
• Saves you time administering multiple settlement runs,
no need to sacrifice efficiency in favor of paying
suppliers on time
Due Date: Due Date:
• Enables you to retain cash longer, maximising interest 04/28/2020 05/01/2020
earnings

Workday Confidential
 Dynamic Supplier Payment Date

Supplier Invoice
Payment File Value Payment Date
Feature Not Due Date or Settlement Run Supplier Payment
Date or Check Date =
Enabled Discount Date of Date of 4/23/2020 Date of 4/23/2020
4/23/2020
5/1/2020 Settlement Run Date

Payment Date
Supplier Invoice =
Payment File Value
Due Date or Any Settlement Run Supplier Payment
Feature Date or Check Date Invoice Due Date
Discount Date of Date Date of 5/1/2020
Enabled 5/1/2020 or
5/1/2020
Discount Date

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 Dynamic Supplier Payment Date
• In Financials Tenant Setup, Enable
Dynamic Supplier Payment Date
under Settlement and Bank
Account Options.
• Select a Default Supplier
Payment Date:
‒ Invoice Discount Date
‒ Invoice Due Date
‒ Settlement Run Date

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 Dynamic Supplier Payment Date

• Dynamic Supplier Payment Date is

available on
‒ Create Settlement Run
‒ Schedule Settlement Run

• Dynamic Supplier Payment Date Options

‒ Invoice Discount Date
‒ Invoice Due Date
‒ Settlement Run Date

• Note
‒ If the Invoice Discount Date is in the past,
Invoice Due Date is used as the Payment Date
‒ If the Invoice Due Date is in the past, Settlement
Run Date is used as the Payment Date

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 Dynamic Supplier Payment Date

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 Dynamic Supplier Payment Date

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 Dynamic Supplier Payment Date

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 Settlement Run Custom Filter

Workday enables you to create custom filters that automatically add unpaid open items
and pending payments that meet a specified criteria to a settlement run.

Benefits
• Reduce errors and manual effort
• Identify specific supplier invoices quickly and easily

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 Settlement Run Custom Filter
• Settlement Run Custom Filters is available on
‒ Create Settlement Run
‒ Schedule Settlement Run

• Domain Security for Create and Edit Settlement Run Custom Filter
‒ Set Up: Settlement
‒ Process: Settlement

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 Create Settlement Run Custom Filter
• Create Settlement Run Custom Filter task
‒ Payment Source: Supplier Invoice

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 Settlement Run Custom Filter

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 Schedule Settlement Run

You can define a schedule for Workday to create settlement runs and settle payments
for unpaid open items and pending payments.

Benefits
• Do not need to recreate settlement runs with the same parameters repeatedly
• Schedule runs to generate in specific status to accommodate business process
• Flexibility to set payment date later than the scheduled run date

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 Schedule Settlement Run
• Domain Security
‒ Process: Settlement

• Run Date From Current Date in

(Days) option
‒ defaults the settlement run
date as the next number of
days when scheduling
settlement runs

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 Settlement Dashboard

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 Available Dashboard Worklets
Open Item for Settlement Run Actions Actionable Settlement
Settlement Pending Runs

Displays the open non-payroll items Displays the list of users with actions Displays the count of settlement runs by
that are available for settlement pending for settlement runs status pending action for completion
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 Available Dashboard Worklets
Payment Counts Most Recent Settlement Ready to Print
by Status Runs Check/Advices

Displays a count of payment by Displays the last 10 settlement runs Displays the count of payment groups
status created with checks and/or advices that are
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 Available Dashboard Worklets
Uncashed Payment Returns by Settlement Run
Payments Month Integrations

Displays a count of unreconciled Displays the count of payment Displays the integration summary by
outbound payments with check and returns by month and payment settlement run
manual payment method category
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 Enabling the Settlement Dashboard

Role Action

Administrator Set up Settlement Dashboard

● Tabs
● Worklets
● Links: Task, Custom Report, External Link

End User Add ‘Settlement’ as an optional worklet on Home page

Select worklets to be displayed on Settlement Dashboard

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 DEMO

Optimize Your Supplier Settlement Process

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 Helpful Links

• What’s New Posts

‒ Workday 31 Dynamic Supplier Payment Dates
‒ Workday 32 Schedule Prenote Runs

• Administrator Guide
‒ Setup Considerations: Settlement Run Filters
‒ Define Settlement Run Custom Filters
‒ Reference: Create Custom Filters for Settlement Runs
‒ Schedule Automatic Settlement Runs
‒ Concept: Settlement Dashboard
Q&A