Job Description :
Workday Consultant
Location: Philadelphia PA (Some onsite work / some remote work possible)
Duration: 6-8 weeks (extendable)
Client is experiencing some difficulties in managing certain financial accounting functions, resulting in inefficiencies in certain transactional processing and reporting. The original configuration related to these functions, while operational, has some inherent flaws for which we are seeking to understand options for optimization or re-configuration, and have a desire to model/test suggested options. Specifically, the central area for review/assessment/recommendations is the function by which revenue is recognized and recorded on the general ledger, as well as associated revenue installment sub-ledgers, and, ultimately, reported on by project/contract, and various attributes thereof. As we’ve learned, this area has tentacles in numerous other financial areas which require assessment as well
To accomplish this assessment and to provide options for consideration, a resource with expertise in the following business processes and Workday specific functional expertise is needed:
Client cash lifecycle – project initiation through billing and cash collection
Record to Report - revenue recognition (through billing or accrual) through revenue by project (business plan) report
Revenue Schedules
o Deferred revenue and rev rec at time of billing (non-deferred)
o Up-front and ex post billing
Billing Schedules
Invoicing
o Project billing – both transactional and flat-fee billing
o Client invoicing process vs invoice from customer contract
General Ledger Accounting (at least cursory knowledge)
o Knowledge of posting rule process