Get Started: Workday Budget vs. Actual Reports

Adding 'Budget vs Actual reports' to Shortcuts and saving Filters for ease in future use

Table of Contents:

• UPDATES
• Getting Started with Budget vs Actual Reports
  • Videos
  • Recommended Report: RPT00290
  • Workday Roles with Access
  • Create Shortcuts to Reports
  • Set Saved Filters for Commonly Used Reports
  • Running a Report using Shortcut and Saved Filter
  • Report Format
  • Expand, Collapse and Drill down capability
  • Changing Report Filters
• Related System Office Resources

 

 UPDATES

These are important for those that attended training sessions shortly after Workday go live.  They were communicated via email to Cost Center Managers and Finance Analysts.

July 8, 2025

At change in fiscal year, depending on your needs/focus, you may choose to

• leave your Workday report filters defaulting to Period: FY25–Jun and update to Period: Fy26–June when needed, or
• the opposite; update the Workday report filters so they default to Period: FY26-Jun

This brief knowledge Base Article and 2 ½ minute video provide more info on the options and “how to:  Updating Workday Reports for the New Fiscal Year

April 15, 2025

Budget vs Actual reports have new filter called 'Book'.  If it does not default to it, select 'Modified Cash'.  To update saved filters:  From the Report filter screen, select Manage Filters, then Edit each filter so Book is set to "Modified Cash" (brief "how to" video)

October 23, 2025

Budget reports must be run using the new Budget Structure of Annual Operating - Parent - NEW.  This 3 minute video, Update Filters for new Budget Structure shows how to update your filters for the new budget structure, using Manage Filters.

September 24, 2024 continuing to present: 

Before running reports, please be aware of Workday stabilization activities still in progress. Workday Finance Refinement in Progress article has details in table and diagram form.

 

Getting started with Budget vs Actual Reports

Videos

• ISRS cost center mapping + Saving Workday Budget vs Actual report shortcuts and filters (12 minutes) - for first time users/initial set up
• Navigating and understanding Budget vs. Actual Reports (14 minutes)

Recommended Report

RPT00290 – Budget vs Actuals by Program typically meets the needs of most that need to review their budget and actual activity.

This report is not designed for GRANTS or PROJECTS - transaction detail is available but no subtotals by grant or project (all are in a combined [blank] line.

• For GRANTS: 
  • The report Award Budget to Actuals is currently the best source for grant financials (informal VIDEO)
  • This focuses on the grant award (not fiscal year).
• For PROJECTS (facilities)
  • Neither Budget vs Actual Reports nor the View Project > Financials seem to provide the entire picture. 
  • A ticket is open with System Office for guidance/ to express the need for better report capabilities

Workday roles with access 

• Cost Center Manager role:  
  • Workday allows only ONE Cost Center Manager per Cost Center; Typically it will be a VP or Director
  • Cost Center manager role has other Workday responsibilities and capabilities besides viewing reports.
• Finance Analyst role: 
  • Typically this will be office staff and others with responsibility for monitoring financial activity for one or more program/project/grant.
  • This role enables the user to view budget vs actual and other financial reports.

Contact Accounting Services if you need help with a Workday security role to view reports.

If you have one of these roles, please watch your email for periodic Workday Finance Updates from Financial Management staff.

Create Shortcuts to reports

Shortcuts can be set so you do not have to remember and search on frequently used report numbers/names.  Workday has a limit of 10 shortcuts. 

If you run out of shortcuts, try 'Favorites'  (click on the person icon in upper right corner)

To save Budget vs Actual report shortcuts:

• 1) Log into Workday 
• 2) Select Menu, then select Shortcuts and + Add 

• 3) In the Add Shortcuts search bar, type RPT00290 and + to add it.  

If you are working with grants, you may do the same to shortcut 'Award Budget to Actuals'

• 4) You now should have RPT00290 Budget vs Actuals by Program saved in your Shortcuts Menu for future use. 

 

Set Saved Filters for commonly used Reports 

• Saved Filters can be set within each report to save time in running reports.
  • Each user must first understand what financial information they need to see.
  • Each user must set filters related to their needs (a single program code? everything within a college or other cost center?  Everything within a fund?)
    • Assistance available:
      •  ISRS Cost Center mapping into Workday : outlines structure conversion from ISRS to Workday and a listing of all ISRS cost centers and their Workday values
      •  Getting started with Budget vs. Actual Reports sessions
        • offered weekly on Mondays and Thursdays
        • provide informal training and support on budget vs actual report running and review

• Recommendation:  start with one saved filter and as you become more comfortable you may add more.  The below is a basic example to get you started.  
• To set a saved filter(s) within a report:
  1. Open the desired report (i.e. Menu > Shortcuts > RPT00290)
  2. Populate the filters:​​​​ (See table below: RPT00290 Filters)
  3. Name and save your filter:  within the gray box, type a name for your filter and save it. 
  4. If you wish to save other filters for this report, repeat steps 2 & 3 ( use x to clear previous selections in each field)
  5. Repeat as needed to for other reports you plan to use 

Running a Report using Shortcut and Saved Filter

Once you have completed the 'one time" steps above...to run a Budget vs Actual report:

1-) Log into Workday

2-) From top left Menu, select Shortcuts and the desired report

3-) From Saved Filters drop down, select the desired saved filter and OK

4-) If needed, add a specific Worktag value or modify the filters to meet your needs in the moment.

Report format

NOTE: 

Budget Controls (no spending allows without budget in place) are not yet turned on in Workday. Cost Center Managers are responsible for ensuring they do not spend beyond their budget.

As of mid September 2025, Budget warnings were turned back on.  This should help those doing requisitions and POs have awareness of potential budget issues

Basic layout of the RPT00290 is as follows (other budget vs actual reports are similar)

• Revenue section at the top followed by an Expense section.
• Ability to click on gray circles/carats to expand/drill down or collapse (see Expand, Collapse and Drill down capability section for details)
• Columns:
  • Original Budget
    • full year budget initially loaded via Adaptive Planning on July 1.
    • Budget transaction detail on these reports is not helpful (a ticket is open with system office)
    • Attend a drop in session if you need to learn how to look up budget transaction detail.
  • Budget YTD - 
    • This includes any budget amendments (budget transfers or loads done after the initial load)
    • Label is not accurate for Metro State since we do not load budgets by month; it will always reflect the full year budget amount.
    • Budget transaction detail on these reports is not helpful (a ticket is open with system office)
    • Attend a drop in session if you need to learn how to look up budget transaction detail.
  • Commitments YTD - i.e. requisitions or other pre-encumbrance activity
  • Obligations YTD - i.e. Purchase order amount left, payroll yet to be paid this year, represents what in ISRS was encumbrance
  • Actuals YTD - what has been paid
  • Total Activity (YTD) - total amount that has been paid, is committed, or in process of committing (Commitments + Obligations + Actuals)
  • Budget Variance  - Compares Budget YTD to Total Activity YTD - negative number = overspent
  • % Remaining - Budget variance as a percentage of Budget YTD
  • "Activity Last Year" columns:
    • If you filtered for Fy26, it will show Fy25 activity and should be fine to use.
    • If you filtered for FY25, it will show Fy24 which should be used with caution.  ISRS is the system of record for Fy24.  We were give no assurances of what FY24 data was loaded to Workday or if/how it was confirmed.

Expand, Collapse and Drill down capability

When reviewing reports...be aware of Workday stabilization activities still in progress; reports cannot yet be taken at 'face value.  Some Fy25 issues could not be resolved in time.  This is a Minn State issue, not just Metro State.

Workday Finance Refinement in Progress article has details of what we are aware of.  We anticipate Fy26 will be an improvement over Fy25.

To navigate within a report, click on the gray circles to expand/collapse to the next level

Blue text indicates that an item is clickable for drill down into detail.

• Usually best to click on numbers for transaction detail.  It is less useful to click on words (cost center names, etc.)

Once you've clicked into an Actual YTD number, you will see the transaction detail within.  ​​​​​​​Worktags column seems to be most useful (contains supplier name, etc.)

• Analysis / Research features include
  • Filter icon on top to narrow down results if desired
  • Upper left corner, use the 'View by' to summarize info by spend category, date, or other field.
  • Export to Excel (2nd icon)

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Changing Report filters

• Once you've run a report, you may change the filter using the Change Selection icon found next to the report name (three vertical lines with squares on it)

• Select the x to clear a filter and then search for the desired filter (if if you wish to save it, for future use, give it a name and Save Filter)
• Note that the Worktags column can be used as a quick way to isolate a specific program(s) within your filters; multiple may be added to that field.

Related System Office Resources

• Report Crosswalk Custom and Delivered Reports.xls