What does the Billing function in Workday Financials enable users to do?

The Billing function in Workday Financials is specifically designed to help users create and manage customer invoices. This encompasses generating invoices based on sales orders, ensuring that billing information is accurate, and tracking payments received from customers. The function also allows for customization of invoices, including terms and formatting, which enhances the billing process and ensures a professional presentation that aligns with the company’s branding.

Creating and managing invoices is a critical component of the revenue cycle in any organization, and Workday Financials streamlines this by integrating with other modules like Accounts Receivable. This integration ensures that any billing information automatically reflects transactions processed in the Financials system, promoting efficiency and reducing the likelihood of errors.

The other functions mentioned, such as conducting credit checks on customers, processing vendor payments, and forecasting future sales, are important aspects of financial management but fall under different functionalities within the broader Workday Financials framework. These features support different financial operations and are typically managed through separate modules focusing on credit management, accounts payable, and sales forecasting, respectively.