Starting June 1, 2025, the University of Miami will be implementing an improved Academy Company structure in Workday. This change will:
Bookmark this page! We will update it with more information as we approach our go-live date of June 1, 2025.
Currently, Company 200 - Academy includes Cost Centers for different UM functions like academics, athletics, and auxiliary enterprises. Starting June 1, 2025, four (4) new companies will be created as part of the Academy structure: Cost Centers that were sitting in Company 200 will be reallocated to one of the four new companies (see image below), where applicable. Company 200 will be renamed as UM Enterprise Corp and will support university-wide functions such as payroll and general counsel.
New Academy Companies
To verify where your Cost Center will be mapped in the new Workday Academy Company structure starting June 1, 2025, refer to the Company Crosswalk.
New Academy Companies will be added to Workday on June 1, 2025. Use the New Academy Companies when entering Workday financial transactions for FY26 (FY26 begins June 1, 2025). This includes manual journals, expense reports, purchase requisitions, payroll costing allocations, etc.
New Grant, Award, Capital Project, and Endowed Gifts Worktags will be created as of June 1 to align to the New Academy Company structure. Use the new Worktag numbers for FY26 transactions and reporting (FY26 begins June 1, 2025). The new numbers will contain the old numbers for easy identification and search. Numbering conventions for each Worktag will be shared closer to launch.
Starting June 1, run reports using New Academy Companies and new Worktag Numbers for Grants, Awards, Projects, and Gifts to see FY26 activity and balances (FY26 begins June 1, 2025). Guidance will be provided closer to the go-live date of June 1, 2025, on how to run reports to view historical activity and balances. You may run reports by Cost Center and Cost Center Hierarchy with no changes to experience. Following the close of FY25, balance sheet values will migrate to the respective new Workday companies to support central finance reporting.
Our goal is to ensure you feel comfortable and prepared for the changes taking effect June 1, 2025. We will utilize various communication methods including emails and Workday banners along with providing resources to FAQs and tip sheets on this landing page. Additionally, your central office contacts, Senior Business Officers and Enterprise Business Solutions (EBS) team will be equipped with the necessary resources to assist in answering any questions you may have. Please continue to monitor this landing page to ensure you are accessing the latest available information and resources.
Preparing to Support These Changes
This section aims to answer your questions regarding these upcoming changes in Workday.
Frequently Asked Questions (FAQs)
Quick Links: General - New Academy Company Structure - Running Reports - Managing Grants
No. You should not notice any limitations in access. The project team will update Workday security assignments to ensure you maintain visibility and are able to initiate access for all companies that are required for your role. This includes maintaining access to Company 200 for year-end activities or historical reporting needs that continue to occur after June 2, 2025.
No. Approval routing will not be impacted.
No. We are not creating new companies for UHealth, however, UHealth employees who transact with Academy should be aware of these changes.
Workday error messages will prevent you from submitting a transaction using an incorrect combination of Cost Center and Company. Use the Company Crosswalk to verify the corresponding Company for a Cost Center. On June 1, you may run the Data Audit Cost Center - Company Crosswalk directly in Workday. Cost Center naming conventions will also be updated to their names will be updated to match the new Academy Company structure. Refer to the Workday Academy Cost Center Naming Conventions document for guidance.
No. Continue selecting Company 200 - Academy for all FY25 transactions, including any year-end entries and accruals using an accounting date in FY25 (on or before May 31, 2025). Note: For any remaining year-end transactions with an accounting date in FY25 entered after June 1:
Accrual entries booked to Company 200 - Academy before June 1, 2025, will reverse to Company 200 - UM Enterprise Corp after June 1, 2025. On June 1, payroll accrual reversals will be posted to Company 200. The project team will perform journal entries to redistribute these accruals to the appropriate new Academy Companies based on the cost center for the payroll accruals. This will ensure accurate company-level reporting for the new fiscal year.
Yes. As of June 1, all existing payroll costing allocations will be updated by the project team with the corresponding New Academy Company (based on the cost center) and new Grant Worktag. Use the New Academy Companies and Grant Worktags for any payroll costing allocation changes effective after June 1:
Yes, both DOLFIN and PowerBI will be updated with new Workday Companies.
No. You may continue to run reports by Cost Center or Cost Center Hierarchy with no changes to your experience.
No. You will not lose access to activity or balances before June 1, 2025, although most historical activity will remain in Company 200. Guidance will be provided closer to launch on how to run reports to capture historical activity.
Life-to-date balances are converted to the new Grants upon completion of year-end close. At this point, you may run reports using the new Grant number (e.g., GR-00421-03) to see grant balances.
Supplier contracts for subawards will be re-created in the corresponding company if they meet the following criteria:
The new Supplier Contracts will use the original SPC number, appended by "-3" (e.g., SPC-00001 becomes SPC-00001-3).
When payments are received, AP will apply them against the new supplier contract (SPC-00001-3) even though the payment may come in with the old Supplier Contract #. The old Supplier Contract will be inactivated as of May 30, 2025.
No. Subrecipients can continue to reference the legacy supplier contract number (e.g., SPC-00001). Accounts Payable will automatically use the converted SPC number (e.g., SPC-00001-3) when they identify both a legacy and converted SPC.
Refer to the Company Crosswalk to verify which Company your home cost centers map to effective June 1. Note: The Data Audit Cost Center – Company Crosswalk report in Workday will also be updated on June 1.
Academy Cost Center naming conventions will be updated effective June 1 to match the new Academy Company Structure. This will provide a clear indication of the correct Company for each Cost Center. Refer to the Workday Academy Cost Center Naming Conventions document for guidance.
A special preview meeting was held for our Certified Workday Super Users, along with additional guests from the Central Offices. During this session, we introduced the new Workday Academy companies and shared important information about this exciting initiative. To view the full meeting:
