Concept: Custom Calendars and Exchange Rates
General ledger (GL) accounts use month as the default time period unless you use a custom calendar. Other accounts (including modeled and cube accounts) can use different default time periods, such as week or quarter. Workday uses 2 approaches to ensure expected results for currency exchange rates when accounts have different default time periods.
Accounts with a Smaller Time Period Than the GL
When an account uses a time period that is smaller than the time period of the GL account, then that account uses the exchange rate value for the roll-up period. Example: Workday uses the month exchange rate when the account uses week your GL account uses month.
Accounts with a Larger Time Period Than the GL
When an account uses a time period that is larger than the time period of the GL account, then that account uses the exchange rate value for the last enclosed time period in the GL time period. Example: Workday uses the exchange rate for the last month of each quarter when the account uses quarter and your GL account uses month.
When you want to use a different exchange rate for all quarterly accounts, you can create a quarterly exchange rate type and enter the quarterly exchange rate into the last month of each quarter. Select that exchange rate type for each exchange rate account.