What does hierarchy settings in accounts assist with?

Hierarchy settings in accounts are essential for facilitating data aggregation. By defining a structured hierarchy, organizations can efficiently consolidate and roll up financial data or operational metrics from lower levels of the hierarchy to higher levels. This ensures that reports and analyses reflect an accurate and comprehensive view of performance, as data from various sub-accounts or departments can be summed up and interpreted at the organizational level.

This hierarchical arrangement supports more effective reporting and analytics, enabling users to analyze trends and performance across different segments of the business. The ability to aggregate data through these hierarchy settings enhances insights and helps in decision-making, as stakeholders can see total figures while also having the capability to drill down into individual components.

Understanding how account hierarchies work is crucial as it directly impacts the quality and clarity of financial analysis and reporting within Workday Adaptive Planning.