Knowing your funding sources, their purpose, and associated fund/project numbers can streamline payroll and purchasing functions to accurately account for these allocations.
Funding must be referenced on all purchasing and payroll requests.
Resource People:
- Liz Funk Smith, Associate Dean for Administration & Staff – SoP Budget, Revenue Accounts, Financial Reporting
- Shelley Calhoun, Accountant II – Salary Credit, Startup, Gift Funds, School Funds
- Julie Steinle, Research Admin Accountant – Sponsored Projects
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Funding Strings
Below is a breakdown to better understand the elements of a Workday Funding String:
Workday’s Financial Data Model utilizes Worktags within their funding strings, each with a unique purpose.
Workday’s Financial Data Model utilizes Worktags within their funding strings, each with a unique purpose.
- Driver Worktags determine the primary funding string for a transaction
- There are four Driver Worktags: Grant, Gift, Project, and Program
- Related Worktags populate automatically when a Driver Worktag is entered
- Transaction ins Workday will be routed to the appropriate fiscal manager for approval based on the Worktags included in the business process
Workday
- Workday is the new ERP system that the Universities of Wisconsin use to manage their financial and HR work. Please work with Shelley Calhoun and Julie Steinle for access to your financial reports.
Additional Funding Tools
- SoP Sponsored Projects/Account Balance Reports (managed by Julie Steinle, Research Admin Accountant)
- Salary Credit & Startup Spending Reports (managed by Shelley Calhoun, Accountant; for salary credit policy questions, contact Liz Funk Smith). Copies of these reports can be found in the PI’s Box folder (if a new link is needed please contact Shelley Calhoun)
- Startup Spending Reports (managed by Shelley Calhoun, Accountant)
- Non-Sponsored Projects/Account Balance Reports (managed by Shelley Calhoun, Accountant)
- Revenue Account Balance Reports (managed by Liz Funke Smith)