Workday Finance & HR Spotlight

Today's newsletter is 859 words... a 3-minute read.

Model My Pay!

What it is: You can view an estimate of your pay after applying hypothetical changes to your taxes, earnings, and deductions. You can use a separate calculation to view a Gross-to-Net approximation based on these changes. This enables you to determine how these changes may affect pay calculations.

When to use it: Modeling of pay might prove helpful when deciding retirement contribution amounts, making benefit changes, anticipating salary changes, updating tax withholding for your W4 form, and more.

>> Disclaimer: This is only hypothetical. Actual changes need to be made in Workday for results on your paycheck. Please don't base your financial decisions on this estimate.

How to access it: After accessing Workday > Menu > Pay > Actions: Model My Pay link to the right of the screen.

1) Select the payment date(s) you'd like to start your model and click OK.

Note: You can select from the seven most recent payslips.

2) Now you can expand sections as needed and enter new values in the Adjusted Value column.

3) Click the Adjust Federal Taxes and Adjust State Taxes buttons to make changes to your tax elections.

4) When finished, click the Model button to run a calculation that compares your changes to your original pay.

Just in Time Updates & Reminders!

New Create Request for P-Card/T-Card Added to Workday!

The Create Request feature is for P-Card and T-Card holders to increase spending limits and for those needing to request a new P-Card or T-Card.

No more paper forms!

Questions:  Have a general Workday-related question or want to see a topic covered in a future newsletter? Use the Workday Contact Us form.

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