Body
Overview
This article covers some of the basic finance roles used in Workday, specifically regarding cost center roles. A cost center represents an area/unit of financial responsibility and management and is not necessarily tied to departments or HR reporting hierarchies.
Details / Instructions
- Cost Center Manager - Budget manager for subset of a larger school or unit. Responsible for transaction approvals, policy compliance and reconciliations. This role cannot enter transactions except budget and accounting adjustments.
- Cost Center Manager Level 2 - Budget manager for large unit, school or division. May be the same person as the CC Manager Level 1. Responsible for budget management and planning, ensures overall compliance. Approvals only for purchases above $50,000.
- Cost Center Manager Level 3 - Division and School Leaders who need to view financial information across all of their units.
- Cost Center Procurement Specialist Level 1 - Department PCard holder. Ability to make routine purchases, requisitions, and understanding of basic purchasing rules.
- Cost Center Procurement Specialist Level 2 - May have a Pcard. Responsible for Purchasing Policy compliance within assigned cost centers. Conducts complex procurements often with related contracts.
- Cost Center Finance Specialist - Performs financial transactions, such as expense reports or creating new vendor records.
- Cost Center Budget Specialist - Office of Planning and Budget (OPB) liaison to a cost center.
- Cost Center Analyst - Able to view financial information within a cost center; should be leading strategic fiscal planning and decision making in consultation with cost center manager.
- Gift Manager - Responsible for understanding restrictions and ensuring efficient use of funds.
See Also
Workday Finance Terminology
Workday Finance Spend Categories