A revenue category describes the type of revenue a transaction is recording.
Revenue Category
Revenue categories are used in the account posting rules to drive the proper ledger account (normally revenue) to be used when posting operational transactions.
Revenue Categories are used in association with Ledger Accounts on accounting journals that require a revenue ledger account.
Revenue Categories follow these naming conventions:
- Revenue Category IDs begin with the prefix RC followed by five numeric digits (RC54321).
- The Revenue Category ID must be included in the Revenue Category name.
- Examples of Revenue Categories in Workday:
- RC10011 Student Records Fee Income
- RC10287 Tuition - Professional Resident
- RC10461 Capital Gifts, Grants & Contracts
Revenue categories are assigned to one of the following top-level hierarchies.
| Revenue Category Hierarchy | Description | Hierarchy Business Owner |
|---|---|---|
| All Revenue Categories | The All Revenue Categories hierarchy includes all revenue categories in Workday and is used for account posting rules. | Amy Tetmeyer, Controller |
| MGMT Reporting | The MGMT Reporting hierarchy includes all revenue categories and is loosely organized to adhere to the All Funds reporting structure. | Amy Tetmeyer, Controller |
The Controller maintains sole review and approval authority over requests for Revenue Category creation and maintenance. If you would like to request a new Revenue Category or maintenance to an existing one, please contact the Controller's Department.
Visit the Worktag Inactivation Procedures page for guidance on how to request worktag inactivation.
- ISU Ledger Account Lookup - This report returns ledger accounts and their associated spend and revenue categories, and account posting rule conditions.
- ISU Revenue Categories - This report returns all revenue categories and the revenue category hierarchies to which they are assigned. Optionally, you may select one or more revenue categories and revenue category hierarchies to narrow your search results.
- ISU Journal Lines with Spend and Revenue Categories - Summarized - Company, Account Type, Ledger, Period ,and Time Period values are required at the report prompt.
- Navigate Revenue Category Hierarchy - Use this report to view an organization chart of all spend category hierarchies and how they roll up to one another. You must select a spend category hierarchy at the report prompt.
- View Revenue Category Hierarchy - You must select a spend category hierarchy to run this report, which shows the parent spend category hierarchy and subordinate spend category hierarchies that are in the level immediately below.
Find more information about revenue categories in the Finance and Planning: Accounting knowledge base:
- Create an Accounting Journal
- Journal Error Correction
- Financial Accounting Quick Reference and Reporting Guide
- Financial Accounting in Workday for Specialists
- Budget Amendment vs Accounting Journal
- ISU Ledger Account Lookup report
- Transfer Guidelines and Best Practices
- Workday Finance: Find Worktags
- Workday Finance: How Do I?
- How do I know which revenue category, spend category, or ledger account to use?
- Run the report ISU Ledger Account Lookup in Workday. This report lists ledger accounts and each of their associated revenue and spend categories. When creating manual journals lines, you must only use a revenue or spend category that is mapped to the ledger account on the line. Contact your unit's Finance Service Delivery person for further guidance.