Organization types in Workday !

• Organizations enable you to group together resources, workers, costs, and other organizations for business process routing, security, analytical, and reporting purposes.
  
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• Generally, organizations have members and roles that support a specific business function. Workday delivers a number of different organization types for different functional purposes that are independent from one another.
  
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• For example, your supervisory organization reflects the reporting structure, and this may be completely different from your costing structure for which cost centers and regions are used. 
  

Organization type:

Company:The primary organization type used by Workday Financial Management. All financial transactions are for a company, and most financial reports are run in the context of a company, such as balance sheets and income statements.

Note: Workday recommends that you create a separate company for each internal entity with a separate tax ID. 

Cost Center: Used to track financial transactions and HCM transactions with a financial impact, such as hiring or terminations. Employees and contingent workers are assigned to a cost center when hired. You can roll up cost centers into cost center hierarchies, which can only store cost centers for reporting purposes. You cannot associate transactions with a cost center hierarchy.

Location: Locations are an attribute associated with a worker in a position, and can also be used for assets. Locations reflect a worker's work location rather than an area of responsibility. Locations can be structured as a hierarchy whereby Location A can be the superior of Location B. Location hierarchies have organizational roles and can include locations for grouping purposes. Location hierarchies can also be structured as a hierarchy whereby Location Hierarchy X can be the superior of Location Hierarchy Y. 

Create Location is used for creating a location. Location should be created before creating Supervisory organization. 

Region: Reflects the area of responsibility for a worker instead of the work location. For example, a sales person might work from a Miami location, which rolls up to North America, but might be responsible for sales to the Latin American region.