Updated Retro HCM Transaction Functionality Available in Workday

In September 2020, Workday, Inc. released improvements to how costing is handled for retro HCM transactions. On Wednesday, October 28, we released updated retroactive costing functionality to take advantage of these improvements. This new functionality only impacts how costing allocations are applied to retroactive HCM transactions being processed in payroll and has no impact on how retroactive costing allocations changes are handled. The Cost Transfer Integration will continue to operate as it does now, with no changes to the current schedule. 

For comparison, the previous and new functionality are outlined below. 

Previous Retro HCM Transaction Functionality

  • HCM transaction is processed for a prior period in Workday (Compensation Change, or Time Entry, for example).
  • Workday uses the costing allocation that is in place at the time the transaction is processed, not the costing allocation that was in place for the prior period.
  • An integration is run in Workday to move charges to the accounts that were in place at the time of the prior period. This integration is run the day after the payroll completes. Vouchers are then created overnight, and Financials updated once approved in *DEFINE.
  • There is always at least a one-day delay in when you see the correct charges in *DEFINE. Depending on the timing of the transaction and/or the inclusion of grant accounts, there could be a greater delay. 

New Retro HCM Transaction Process (as of 10/28)

  • An HCM transaction is processed for a prior period in Workday.
  • Workday uses the costing allocation that is in place at the time of the prior period. 
  • No cost transfer integration is needed. 

No delay in charges being accurately reflected in *DEFINE Resources