Worktags are labels that are assigned to transactions, accounts, and other financial data within the system. Worktags help organize and analyze financial data in a variety of ways. Worktags allow for classifying financial information to fulfill the need for uniform, consistent terminology, and classifications to be used for budgeting, accounting, and reporting the financial activities of the state. Worktags in Workday can be categorized into two types: Statewide and Company-Specific.