=Fast15: Workday Payment Elections(Direct Deposit, W-4) - YouTube

Welcome to this =Fast15 on Workday. Today we're going to cover payment

elections and federal withholdings, otherwise known as your direct deposit

forms and your w-4 forms. Before I get started I do want to note that Workday

is not replacing the state payroll system and what you are essentially

doing with your federal elections and your direct deposit or payment elections

is submitting those paper forms electronically to our payroll staff here

at ODE. You can think of it like the current paper form that you might do now,

the direct deposit form, you might attach a voided check and fill in your

bank account information or that w-4 form where you put in your exemptions

and tax withholdings and sign and submit to HR. You might mail that paper form or

drop it off in our physical inbox. That's simply being done online through

Workday. First I'll step through the federal withholding process what you

would do on your w-4 form. When you log in a Workday you should see a set of

applications on your home page and one of these applications will be "Pay". When I

click on "Pay" I have two actions: withholding elections and payment

elections. Withholding elections is going to be that w-4 form. For now I'm not

going to go into my actual withholdings as there's some confidential and

sensitive information as you can imagine. I will switch to the training account

and in this instance search for federal withholdings, and I got the task "federal

withholdings elections." In Workday you can reach different actions and

processes through a number of different ways. It could be the search box or

through the button on your home page. When I go ahead and add federal

withholding elections Workday gives me some basic information. You'll notice I

come to W-4 data. And this might look familiar because essentially this is the

W-4 form in electronic format. I can check the boxes and options if

applicable, provide the marital status, enter any number of allowances, add any

additional information or amounts to my withholdings, if necessary, check if I'm

exempt and read my legal notices and at the bottom I will have this checkbox for

"I agree" This is actually an electronic signature

so once I check that box and click OK I have submitted my signed electronic

federal tax election form. This will go to Payroll which will be entered and

reflected on your pay. You can also do the same process for your state and

local elections. I'll go ahead now and enter my payment elections, otherwise

known as direct deposit, and again I can start from the home page or in Workday I

can go ahead and make a search. And with a search I don't even need to be exact. I

can simply put in a partial Word and Workday will search for the process.

I get payment elections. In this case Steve is a new employee. Steve has not

added any elections so I'm going to go ahead and need to add direct deposit for

him so he can actually get paid. Again this should look familiar and if you've

ever filled out the direct deposit form. Workday will automatically tell me my

interface is direct posit which is exactly what I want. I can add an account

name and I can tell what account type I'm using. In this example I'm going to

use US Bank. I'll enter the routing number and then my account number,

but you'll notice Workday is giving me an error. I'll click on the red box to

view the error and it tells me my routing transit number must be nine

digits and Workday did not recognize that routing number. I'll actually need

to provide it some information. In this case I simply had an extra digit and now

that Workday recognized that was US Bank. It of course did not validate the

account number. This needs to be accurate and you need to make sure that this is

correct when you enter that number, but ir should give it a success once I've entered

those two numbers in and I'll see that reflected in my accounts. And as I scroll

down I have my accounts and my payment elections. In my payment elections I do

see that I have payment type of direct deposit, my account information, and

account number and the distribution is balance "yes" which means that the full

paycheck will go into that account. If I wanted to I can edit this. Perhaps my

account information changed. I can update the account.

I can also tell Eorkday to provide a specific amount. You might have several

different accounts that you split your paycheck into and Workday will allow up

to 4 payment elections. I can tell Workday a specific amount if I

want to ,but if I hit OK it's going to give me another error. It tells me I

must select the balance option from the last election or the percentages must

add up to 100. I only put one in here. It was a hundred. Workday does need

to see that full balance, I need to fully allocate that amount. I can do that by

adding more and more payment elections if I wanted to in order to to add up to

that 100% or that full balance. Those payment elections

would show up on the bottom of my screen and I can verify that I do indeed have

the full balance going to that account and again always if needed change my

payment elections or accounts. We are simply completing the direct deposit

form in an electronic format through Workday. So in this =Fast15 we've covered

your federal withholdings the electronic w-4 form and how to complete that

through Workday, and your payment elections, otherwise known as your direct

deposit form. Thank you for watching this =Fast15 and I hope you have a great day.

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