RPT001: Company Budget vs Actual YTD – Operating Workday Training Document for Campus Users

The document is a training guide for Workday users on how to navigate and utilize the budget report RPT001: Company Budget vs Actual YTD-Operating, which compares budgeted and actual expenses for operating and project worktags. It includes definitions, procedures for running the report, organizing data, and tips for customizing filters to streamline financial analysis.

Purpose

The purpose of this training document is to help campus navigate the budget report, RPT001: Company Budget vs Actual YTD-Operating in Workday. This report shows budget to actual expenses for operating and project Worktags.

Scope

This training document applies to any Workday user who manages operating or project worktags.

Contents:

1. Definitions/Acronyms
   • Example Ledger Account Hierarchy
2. Procedures
3. Using Ledger Account Summaries
   • Prompt Screen for Operating
   • Prompt Screen for Student Labor
4. Related Resources
   • Saving and Managing Filters
   • Using WD Worksheets

Definitions/Acronyms:

• Ledger Account = a numbered account that records financial transactions and is used for budgeting and performing budget/actual analysis; shows expenses.
• Ledger Account Summary = A grouping of ledger accounts; shows budget.
• Spend Category = Classification of a labor expense or purchased items as a resource.  Every spend category is part of a Ledger Account hierarchy:
  • Ledger Account Summary (highest) 
  • Ledger Account (mid) – where we budget
  • Spend Category (lowest)
• Workday (WD)
• Worktag (WT)= The worktag for review.
  • Operating worktag = Worktag with general fund budgets that are available to spend within the fiscal year; unspent funds do not roll.
  • Project worktag = Worktag that is cash funded via transfers or revenue.Unspent balance rolls to next fiscal year to the fund balance.

Example Ledger Account Hierarchy:

Ledger Account Summary:

• Standard: Budget Administrative Faculty

Ledger Account:

• 1210F: Administrative Faculty
• 1220F: Administrative Faculty FT
• 1221F: Administrative Faculty PT
• 5122: Temporary Admin - Full Time

Spend Categories Included:

• 5102 Administrative Faculty
• 5122 Temp Admin Faculty – Full Time
• 5132 Temp Admin Faculty – Part Time
• 5186 Non-PR Personnel Adjustments  

Procedures

To find RPT001 – Company Budget vs Actual YTD - Operating, either type the report name into the WD search bar and select the report from the Tasks and Reports WD Category:

Or the report can be found on the Financials Dashboard from the Menu in the top left corner of the WD home page:

Prompt Screen:

• Company: Defaults to “Colorado School of Mines”
• Budget Structure: “Operating Budget Structure”. 
• Time Period: defaults to Current Period YTD.
• Budget Name: optional but recommend adding the year in review for Operating worktags.
• Adjust default:  Current and Prior Period > Select current month or select June of the fiscal year in review. 
• Ledger Account: Add the Ledger Account of Budget and Actuals to isolate your operating, hourly, etc. budgets. More details on page 7.
• Worktags: Add worktag to review; can enter more than one, but totals combine.
• Operating Account – Sub Type: Leave Blank.
• Book: “Common Book”. Default book for transactions in Workday.
• Additional Options: Select “Include Payroll Details” to see who wages are paid to.  (Drill into amount and filter on “Employee”.)
• Book for Budget: Leave Blank.

Query Results

• Budget: Money loaded into the fiscal year being reviewed.  For projects: Will not show cash balance from last fiscal year
• Actuals: Expenses to date (based on filter selections)
• Budget Less Actuals: available budget balance before anticipated expenses (Commitments and Obligations).
• Commitments and Obligations: expenses anticipated to become actuals but are not official in the system.
• Available Balance: projected available balance after expenses and Commitments and Obligations.

• Tip: Change the information of the query by clicking on the filter icon to get back to the prompt screen.
• Explore Further: Drill into details by clicking on any blue number.

To organize this data, click "View by: Select a Field" and select the sorting criteria. Can do more than one Field if desired.  Click "Refresh" once options selected:

For this example: "Spend Category" was selected:

The actuals for employee wages can also be organized by employee if “Include Payroll Details” was selected in the prompt:

Tip: Drill into details by clicking on any blue number and selecting “Employee” as the criteria and clicking “Refresh”: 

Results show employees alphabetically by first name and the amount paid to date based on prompt selections:

Using Ledger Account Summaries

Starting FY2025, budget is loaded at the Ledger Account Summary.  FY2024 was initially loaded at the Account Summary. 

• Ledger Account Summaries are comprised of 4 numerical digits and 1-2 letters.  Examples of frequently used:

If Viewing…	Ledger Account Summary (shows budget)	Account Summary (shows expenses)
Graduate Student Pay	1260E: Graduate Student	Standard: Budget- Graduate Student
Operating Budget	4000BD: Budgeted Op Expense	Standard: Budget- Operating
Scholarships & Fellowships	5892E: Student Financial Aid 5893R: Fellowships	Standard: Budget- Scholarships & Fellowships
Transfers	7070E: Internal Transfers Out 9070R: Internal Transfers-In	Standard: Total Transfers
Undergraduate Hourly	1260F: Undergraduate Hourly	Standard: Budget-Undergraduate Hourly
Utilities (mostly for I&O)	2000BD: Budgeted Utilities Expense	Standard: Budget- Utilities

Adding the ledger account and ledger account summaries to RPT001’s prompts screen can be helpful to isolate specific budgets and expenses.  Adding these to the prompt screen narrows the results and excludes other budgets and expenses.

Prompt Screen for Operating

This will not include any expenses or budget information for items not within Operating – table above as reference:

• Prompts same as above, other than Ledger Account/Summary selection.
• Ledger Account: Add “4000BD: Budget Op Expense” and “Standard: Budget- Operating”.  Search keyword Budget and select options.

Prompt Screens for Student Labor

• Prompts same as above, other than Ledger Account/Summary selection.
• Ledger Account: Add “1260E: Graduate Student”, “1260F: Undergraduate Hourly”, “Standard: Budget- Graduate Student”, and “Standard: Budget- Undergraduate Hourly”. 

There is not a limit on ledger account summaries that can be added to the prompts.  This selection captures generally all non-labor expenses billing against general fund operating budgets. 

***Be sure to occasionally run WTs without filters to see if anything else needs to be accounted for.***

Related Resources:

Saving and Managing Filters in RPT001

Creating filters in WD will save time, and they are easy to edit when updates are needed.

• Enter desired prompts:

• Enter preferred name in the “Filter Name” text box.
• Click “Save”
   
• To find the filter next time, click the “Saved Filters” drop down and select desired
  
   
• To edit filters, click “Manage Filters”:
  
• A new tab will open, where you can edit or delete saved filters.
  

Using WD Worksheets

Export data within WD's version of Excel.

Once in Worksheets, to see for example non-labor expenses, select all operating actuals and the SUM shows the total spent against the Budget in 4000BD: Budgeted Op Expense: