Workday Financial Reporting

Context:	Workday Financials is our new financial system at DSST (replacing Blackbaud). This article will cover how to navigate the new financial statements.
Purpose:	Follow these steps to access the key financial reports to help you manage your budget
Intended Audience:	School and Home Office Budget Owners
Table of Contents	I. Available Reports II. Video Tutorials III. Creating Shortcuts for Reports IV. Dictionary of Terms V. Initial Filters VI. Optional Filters VII. Saving Filters VIII. Income Statement Report IX. Net Income X. Top Level Report XI. Drill Down Detail XII. Using the DSST Transaction Report XIII. Requesting a Coding Change

I. Available Reports

To default applicable filters to a school based and Home Office based report, 2 separate reports have been created. Both have the same layout and functionality outlined in this report. The following reports are available:

• DSST - School Income Statement 
• DSST - Home Office Income Statement 
• DSST - Transaction Report - Schools
• DSST - Transaction Report - Home Office

II. Video Tutorials - Income Statements (Video Length)

Creating a Shortcut to the Report for Easy Access (0:47)
Initial Filters and Optional Filters - Schools (4:07)
Initial Filters and Optional Filters - Home Office (1:52)
Navigating the Top Level Income Statement (3:29)
Navigating the Drill Down Sub-Window (3:42)
Next Level Data-Analysis Using the Drill Down Sub-Window (4:34)

Video Tutorials - Transaction Report

Using the Transaction Report to Find Information (6:13)

III. Creating Shortcuts for Reports

It is highly recommended that you create a shortcut for the two applicable reports above for easy access. Start by clicking on the Menu button on the home screen in Workday.

Click on the Shortcuts tab then click on "Add Shortcuts" at the bottom of the screen

Type the name of the report above in the search bar and click the + next to the report

This report will now show here the next time you come into this shortcut menu. 

IV. Dictionary of Terms

Throughout Workday Financials and the PNC Card website, you'll come across the following terms you should be familiar with:

• Cost Center - High level, this is a location. Montview Middle School, Montview High School, Home Office, all are separate Cost Centers. This is the level at which we'll grant you access to financial information. You may be assigned to multiple Cost Centers as necessary.
• Budget Department - At the schools, we have two budget departments: General Education and Center Program. At the Home Office, the budget department is Operations, Talent Operations, Talent Acquisition, for example. Reach out to anyone on the Finance team if you need any help on determining your budget department.
• Sub-Budget - We have five sub-budgets:
  
  • Core - At the schools, these are transactions that hit your cost center, but the schools are not responsible for. At the Home Office, all transactions are in the Core sub-budget.
  • Discretionary - Transactions schools are responsible for.
  • SPED/ELL/Social Emotional - These sub-budgets are exclusively related to staffing as defined by the Needs Based Budgeting (NBB) process.
• Budget Line - The line a transaction goes on as defined within your budget in Adaptive. All transactions must hit one of these defined budget lines
• Grant - Not required to be on a transaction, but used when restricted funding is used for the transaction.

V. Initial Filters

The first screen you see on the report is the filters that will populate the data in the financial report. In most cases, school staff will not need to change their filters and can just hit the "OK" button to enter the report. The following filters have been defaulted into your report:

• Schools -  Filters are not necessary for the cost center(s) as they are assigned to you by the finance team and you are unable to access other cost centers you are not assigned to. The general education budget department (to exclude all Center Program transactions) and the Discretionary sub-budget are shown as defaulted.
• Home Office - The Home Office Cost Center and core sub-budget have been defaulted to this report. You will need to enter in the budget department you want to see

VI. Optional Filters

While the above will default, you are welcome to use other filters if you have a specific view you want to see.

• Period - This defaults to the last closed month. As such, you may not see recent transactions. You can click in the period box, click on "Current and Prior Periods" and select the current month if you want to run the report to include current transactions. Just be aware your net income will likely show much higher than it really is because your full month's budget for payroll has been loaded in, but the full month of expenses has not occurred yet.
• Time Period - This defaults to "Current Period YTD", which means July through the date entered in the Period filter. There isn't much of a use case to change this, but if you wanted to isolate that month's budget and actuals, you can select "Current Period". You can also select "Last Year - Current Period YTD" to see your spending through the same month last year.
• Budget - Select your budget version. This defaults to the most current version of the budget, but if we've moved on to the Fall Forecast and you want to see the original budget, you can change what budget version populates the report here.
• Cost Center - Some people have multiple cost centers assigned to them (Cedar Campus or Cole Campus for example have both the MS and HS). You can refine the report to only show a specific cost center here. The default for school staff when this is blank is to include every cost center you are assigned to.
• Budget Department - Home Office staff should use this to populate what budget department they want to see. School staff can add the Center Program to this filter if they want to see those transactions in their report.
• Budget Line - Not recommended to use, but if you only want to see results for a specific budget line(s), you can refine your results here
• Sub-Budget - School staff can add the core sub-budget here if they want to see those transactions in their report
• Grant - If you want to see all revenues and expenses related to a specific grant, you can refine your results here

VII. Saving Filters

This feature is highly recommended for those in the Home Office and any user who finds themselves changing the filters on this (or any Workday report) often. In cases where you want to save an often used filter like seeing your budget department or group of budget departments at the Home Office only or a school who wants to see just their Middle School or High School, you can save filters at the bottom of the screen. Populate your desired filters, type the name in the box and hit save. Next time you run the report, click on the saved filters and select the run you want to run. 

VIII. Income Statement Report

The report populates five columns

• Year to Date (YTD) Actuals - Actual results from July through the period of the month selected in the filter
• YTD Budget - Budget from July through the period of the month selected in the filter.
• YTD Variance - This is simply a calculation of the YTD Actuals and the YTD Budget. Keep in mind the budget for certain lines may have been smoothed over 12 months, but you spent all your budget in the fall. That's OK, you'll just look overbudget in this column
• Annual Budget - Your full budget for the entire year in this budget line
• Remaining Budget -This is simply a calculation of the YTD Actuals and the Annual Budget. It can tell you how much you have left to spend in a certain budget line for the entire year if you're outpacing your YTD budget

IX. Net Income

The first lines on the report are your Total Revenues, Total Expenses, and Total Income (Revenues - Expenses). Keep in mind this is how your budget is judged (assuming your filters are correct) and not the results of your individual budget lines. For example, going above in Student Activities, but below in Athletics is just fine, as long as you hit your Total Net Income number. 

In this example, the YTD actual results through December of 2024 show the budget owner at a $202,203 net income. They were budgeted to have a $140,069 net income, so through December, they are beating their target by $62,134. They are under performing their total revenue budget, but are making up for it by beating their expense budget. The only number Finance cares about is the $62,134 number being black and not red. The other data is simply a roadmap to tell you where to look for wins and challenges that you can respond to.

X. Top Level Report

The top level report shows by budget line the individual rows that are making up your net income to give you a reason for your performance. Look for the largest amounts either negative or positive in the report to find key areas that you need to investigate further. Click on the arrow to expand the budget line hierarchy to individual budget lines.

Any number in blue you will have the ability to drill down into to see further detail on what is making up those budget lines. The YTD Actuals column is the most helpful as it gives you detail on what is making up your actuals. The YTD budget may be helpful to click into to see the amounts budgeted by period. 

If you want further detail on how to analyze the top level data, view the related video linked at the top of this article

XI. Drill Down Detail

This sub-window helps you analyze why you're under or over performing in a certain budget line. Maybe an expense was coded to the wrong budget line and is inflating the actuals. Maybe an expense you expected to see in Athletics isn't there yet and is making that line look lower than you thought. This is where you can get that information.

There is a lot of new information available in this drill down including:

- Supplier name and link to related invoice (Make sure you right click, then "See in New Tab" if you want to navigate to the invoice!)
- Access given to some staff to view employee name on payroll and stipend detail
- Card Holder, Supplier, and Card Approver (If Applicable) name for PNC transactions
- Ability to group detail results by certain criteria

The default sort will be by most recent transaction and then by highest amount. Keep in mind that any data after 1/1/25 will have a lot more detail than any transaction that occurred prior. The loading of historical data wasn't possible to load with all the same supplier data, PNC card data, payroll data, as is available after Workday went live. 

XII. Using the DSST Transaction Report

The transaction report is a helpful tool to supplement the income statement when you aren't finding information where you'd expect it. The report can be used to answer the following types of questions:

- What were the most recent transactions to hit my income statement?
- What are the most expensive things I paid for so far this year?
- I know we paid for "X" but I can't find it on the income statement. Where did it go?
- I know we paid a stipend for this, but can't find where it went.
- How much did we pay for "X" last year? Two years ago? Five years ago?

Like the income statements, the initial filters are specific to the School and Home Office based on the report you're using and will only show the cost center(s) you have been assigned access to. The report excludes salaries (but includes additional pay/stipends), benefits, and payroll taxes. 

There's far too much data on this report to run it without further filtering what you're looking for and shouldn't be used without trying to answer a specific question and using the filters to answer that question.

For example, you know you paid BSN Sports but aren't seeing it in the athletics line like you thought you would and you're wondering where it went. Add the supplier "BSN Sports" to the filter and the report will pull every invoice paid to BSN sports. Here you see it was coded to Advisory for some reason. You click into the invoice and notice the description on the invoice said it was for shirts for Mrs. Smith's advisory, so the coding makes sense now.

XIII. Request a Coding Change

If you want to request something be recoded, either talk to your Finance partner during a budget meeting or send an email to [e-mail] with a screen shot of what you want recoded and to where (if you know).