Payroll

Topics:

Payroll

Related Learning Hubs:

The Payroll functional area provides streamlined processing with the ability to automate calculations and reflect pay results live, based on approved transactions in HCM and Compensation. Workday provides a variety of tools and reports to help central payroll monitor and process payroll in an efficient and accurate manner.

Payroll Commitment Accounting – This budget management process enables Payroll Accountants to project fiscal-year compensation and fringe benefits for positions accurately.
Payslips – The payslips feature enables workers to generate hard copy or printable PDF payslips that can be viewed in Workday. They are available immediately at the time payments are made.

Key Concepts

Tasks

Add Payment Elections – Employees can use this task to add banking information when they are requesting electronic payment via a Workday Fund account.
Run Pay Calculation – Payroll Partners who sit centrally within Payroll Services can use this task to manually run a pay calculation. Typically, this runs on an automated schedule.
Run Pay Complete – Payroll Partners who sit centrally within Payroll Services can use this task to manually complete a payroll calculation at the close of a pay period. Typically, this runs on an automated schedule.
Run Retro Pay Calculation – Payroll Partners who sit centrally within Payroll Services can use this task to manually run a retro pay calculation. Typically, this runs on an automated schedule.
Run Retro Pay Complete – Payroll Partners who sit centrally within Payroll Services can use this task to manually complete a retro payroll calculation. Typically, this runs on an automated schedule.
Create Initial Payroll Commitments – Payroll Accountants can use this task to create an initial payroll commitment in Workday in preparation for the following year’s processes.