WORKDAY COST CENTERS (Overview)
A Cost Center in Workday are synonymous with the CMiC departments.
“Tracks financial transactions and HCM transactions
with a financial impact, such as hiring or terminations. Employees and Contingent workers are assigned to a cost center when hired. You can roll up
cost centers into cost center hierarchies, which can only store cost centers
for reporting purposes. You can't associate transactions with a cost center
hierarchy. The Edit Cost Center task enables you to specify related work tags.”
There are two types of Cost Centers: 1) Cost Center, which holds the
people, and 2) Project Cost Center, which holds the projects.
Cost Centers also have a hierarchy, which are
considered Custom Organizations in Workday.
It was decided that this hierarchy should follow the current financial
roll-up reporting to Region, then to the Corporate Region (this being the top
level). Below is a sample of the mapping
created to build this functionality.
Cost Centers Cost Center
Hierarchy (Region)
Each Cost Center (department) is assigned to a Level 3 Hierarchy which
is synonymous with our current Divisions (screen shot above).
Each Division is then assigned to a Level 2 Financial Region hierarchy
as shown in the screen shot below.
Cost
Center Hierarchy Financial
Region
Resource Administrator column represents the Owners, Project Managers
and Resource Managers assigned to each cost center. This Resource
Administrator, is the primary contact for issues related to projects, resource plans
(default and project specific) and charge out rates related to these projects.
Only Cost Centers that start with ‘7’ or ‘8’ have data populated in the
Cost Center as you can see in the following screen shots of Cost Center 805599
When you access the cost center, the first information that will
display is the ‘Members’ tab. This tab
holds data about the employees assigned to this cost center.
The
next tab ‘Details’ provide high level information about the cost center.
The 3rd tab ‘Staffing’ shows the Organizations
assigned to this Cost Center and the number of positions that have been created
in each of the listed Organizations.
The 4th tab ‘Unavailable to Fill’ lists the Supervisory
Organization and number of positions actually open to be filled, and the
positions that have been closed over time.
The last 2 tabs ‘Roles’ and ‘Security Groups’ are not being used at
this time.