We recently implemented an automated asset transfer workflow in our Workday Asset Lifecycle module to eliminate manual handoffs between departments. The business process configuration was critical to our success.
Previously, transferring assets between cost centers required multiple manual approvals with frequent data entry errors and missing audit documentation. Our finance team spent 15+ hours monthly reconciling discrepancies.
We configured a custom business process that triggers automatic transfers based on employee relocation events. The workflow validates asset assignments, routes approvals to appropriate cost center managers, and maintains complete audit trails with timestamps and approval chains.
// Business Process Configuration - Asset Transfer
BP_ASSET_TRANSFER {
trigger: EMPLOYEE_RELOCATION_EVENT
validation: CHECK_ASSET_ASSIGNMENT_STATUS
routing: COST_CENTER_MANAGER_APPROVAL
audit: ENABLE_FULL_TRAIL_LOGGING
}
The automated workflow reduced processing time by 78% and improved audit compliance significantly. Our internal audit team now has complete visibility into every asset movement with zero manual intervention required.
Did you integrate this with your depreciation schedules? We’re concerned about mid-period transfers affecting our monthly close process. Also curious about how you handle partial month depreciation calculations when assets move between cost centers.
Great question. We created conditional routing rules within the business process that evaluate the target cost center’s organizational hierarchy. The system checks if the transfer crosses subsidiary boundaries and automatically escalates to regional asset managers when needed. We also added a validation step that verifies asset depreciation rules match between entities before allowing the transfer. This prevents compliance issues with different accounting standards across subsidiaries.
Yes, the business process includes a calculated field that prorates depreciation based on the transfer date. The workflow automatically adjusts the depreciation schedule for both source and target cost centers, ensuring accurate monthly close reporting. We configured the system to lock transfers during the first 3 days of each month to avoid complications with closed periods. The audit trail captures the original depreciation schedule, transfer date, and adjusted schedules for both entities, which has been invaluable during external audits.