Are there manual aspects to your month-end close that you would like to automate? Do you need a quicker month-end close, but are restricted by staffing constraints? Kognitiv has heard these pain points and we have developed Workday Finance Transaction Support in response. Our consultants have years of accounting experience, a meticulous understanding of the month-end close process, and know how to effectively achieve this within Workday.
Our experts act as an extension of your team to support clients with ledger account reconciliations and building financial statements in alignment with GAAP or cash basis accounting. Because our consultants know Workday, there won’t be a ramp up time to learn the system – just plug them into your team and go!
Kognitiv can enhance your accounting and reporting efforts through:
Ledger Account Reconciliations
- Assistance with creating reports to extract ledger account detail from Workday and aggregate to support ledger account reconciliations and/or identify reconciling items.
- Guidance on reconciling intercompany ledger accounts and settling open balances between entities.
GAAP Financial Statement Assistance
- Assistance with reviewing Workday reports that are not reconciling within the ledger.
- Review operational balances that are not reconciling to the general ledger and identify fixes.
- Create or edit existing Workday reports to reconcile transactions.
- Month-end flux analysis report configuration.
- Implementation of CloseCoda – Consolidated data, simplified closings. An automated solution designed to make consolidated reporting a breeze by leveraging your Workday financial reporting in one place.
Alternate Account Sets and Books Support
- Implementation or maintenance of alternate accounts sets for local statutory requirements.
Mergers, Acquisitions and Divestitures Assistance
- Support for opening, acquiring, and/or closing companies in Workday including unraveling intercompany and multi-currency transactions.
Let us help you achieve a more effective and efficient close without the added stress!
Please reach out to Jenny Bruso, Francesca Moran or Melissa Doot to schedule a call to discuss our services and how we can help you.