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DID YOU KNOW?

How will Workday Financials impact your day-to-day business processes? How will Workday save resources and time? This page is a place to discover the ways that Workday Financials will make many of the city's processes easier, faster, greener, and more transparent, from budgeting to payment.

How will Workday work for...

By consolidating the city's financial data into Workday's Financial Data Model (FDM), financial professionals can more easily track and monitor all aspects of the city's financial health and growth:
 
  • 590 balance sheet ledger accounts will be reduced to less than 120.
  • Over 700 revenue accounts will be consolidated to about 30.
  • Expense ledger accounts - once numbering over 600 - will be reduced to less than 150.
  • The city's spend categories will be reduced from 4,000 to about 250.

The implementation of Workday for Financial Processes will eliminate the asset input form, saving paper and time.

Reporting functionality within Workday will also greatly improve the processes used by employees who enter, track and manage assets.

Accounts payable will see several processes streamlined with the implementation of Workday Financials.

  • New Vendor Requests and Non-PO Vouchers will be a paperles process, saving resources and time.
  • Credit card transactions and reconciliation will be handled within workday, saving time on a previously manual process.
  • Employee payments and reimbursements will be handled within Workday.
  • With punchout purchasing, the accounts payable process is almost completely automatic.

Workday's real-time data model means that ledger actuals will be uploaded to Questica daily, reducing lag time.

Budget amendments (formerly known as budget journals) will be posted instantly upon approval.

Workday features a grant management area, in which worktags can be assigned to track grant funds. The grant manager security role can be assigned to the individual who holds ultimate financial responsibility over the grant, simplifying accountability and approval workflows.

Additionally, Workday provides a process history view, providing a simple, centralized place where the status and completion date of each stage in the award set-up process can be viewed.

 

Workday Financials brings city purchasing and procurement into the 21st century with several improved processes.

  • "Punchout" purchasing emulates the online shopping experience for the city's major vendors. Purchasing contacts log in, fill their shopping carts, and check out, just like they would with their favorite online retailers.
  • Workday's workflow process creates purchase orders automatically, without the involvement of a buyer.

Workday Financials addresses the complex accounting challenges of capital projects with a sophisticated, but easy-to-use financial data model and reporting tools.

  • Projects are assigned attributes like city council district, owner, and portfolio, to provide greater insight into the sources and impact of capital funds. This makes tracking projects much easier.
  • Projects can draw from multiple funding streams, simplifying the work of accounting for projects that involve more than one department/agency.

 
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CONTACT US
 

 

Need Workday support?
Call 720-337-4357 (HELP) and choose option 2 for Workday-related issues or visit SupportNow to submit a request

Questions about payroll?
Email payrolldivision@denvergov.org or call 720-913-5186

The City and County of Denver's Workday Team
workday@denvergov.org

 

WORKDAY FINANCIALS CONTACTS
 

For accounting or assets questions:

Email ctlgeneralaccounting@denvergov.org

For accounts payable questions:

Email accountspayable.help@denvergov.org

For budget, grants or projects questions:

Email bmosubmittals@denvergov.org

For procurement questions: 

Email central.purchasing@denvergov.org