Gifts

New glossary of gift terms

In partnership with the WSU Foundation, we have released a complete list of terms and definitions. This new resource is designed to help gift managers, development officers, and those who have gifts and endowments in their areas better understand key terminology, roles, and how information is processed in Workday.  Access the new WSU Key Gift Terms […]

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Gift report updates

We’ve renamed the report CR GFT Budget to Actuals Summary to CR GFT Gift Summary. This name change is to reduce confusion, because this report shows both endowed and spendable information. It will be used to find all details associated with gifts and underlying programs rather than to find remaining spendable.

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New gift resources

Several new resources help explain commonly asked questions about gifts and endowments. You can find all of these in the Workday Knowledge Base. New Knowledge Base articles: Understanding the gift conversion from legacy to Workday Understanding differences between endowed gifts and current use gifts Workday Gift Account Crosswalk The Workday Glossary is also updated with […]

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New Gift Fee account

We created Ledger 6073 – Gift Fee on Endowments so gift fees associated with endowment contributions would be tracked in a separate ledger account. This will help in reporting by excluding amounts relating to endowments from the calculation of remaining spendable values available. With this change, fees previously posted to Ledger 6071 – Administrative Fees Expense were reclassified to Ledger […]

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Issue Resolution: Revenue Transfer routing

Known Issue: Revenue Transfers currently don’t route to the Foundation Manager. This causes difficulties with annual stewardship reporting and recording donor contributions. Estimated Time to Resolution: April 9

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Month end close approaching

Month end close for March is approaching, and there are 188 manual accounting journals that are still open. Please either cancel or make sure these journals are approved by close of business on April 5. This is when General Accounting will close the month of March.

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Issue Resolved: Some portions of gift revenue in endowed gifts should not have been reclassified

Known Issue: Some portions of Gift Revenue in Endowed Gifts should not have been reclassified from Ledger 4500 to 4510. We have corrected this issue. Estimated Time to Resolution: Resolved Details: Last week we became aware of an issue with gift revenues, which we have resolved. Beginning balances for gifts are now correct, and the […]

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Issue Resolved: Accounting Update

Known Issue: Modernization has completed updating several ledgers for gifts and restating our accounting transactions for the period of July 1-December 31, 2020. Estimated Time to Resolution: Resolved Details: Read more about this issue here.

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Accounting Update

We want to give you a heads-up about a few changes you’ll see to some accounting transactions in Workday. We have two ledger corrections for gifts requiring updates:

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