Which term refers to categories used for expense tracking in Workday?

The term that refers to categories used for expense tracking in Workday is Custom Worktags. Custom Worktags enable organizations to classify and track various types of expenses beyond traditional methods, allowing for greater flexibility and specificity in reporting and analysis. By utilizing Custom Worktags, organizations can create tailored tracking categories that align with their unique financial management needs, facilitating detailed insights into spending patterns and resource allocation.

This approach enhances the ability to manage budgets and expenses across different departments or projects by allowing users to tag transactions with specific identifiers. These tags can then be analyzed and reported on, providing clarity and enhancing decision-making capabilities regarding financial performance.

Functional Areas primarily refer to the different departments or sections of an organization and do not specifically represent expense tracking categories. Analytical Reports are tools used for analyzing data rather than categories for tracking expenses, and Cost Centers are typically predefined accounting units used to monitor expenses but do not provide the same level of customization as Custom Worktags.