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Administrator Guide
Last Updated: 2024-12-13
Create Rules for Translating Ledger Accounts in AP&C

Create Rules for Translating Ledger Accounts in AP&C

  • Define account translation methods.
  • Security:
    Set Up: Currency Translation
     domain in the Financial Accounting functional area.
You can specify the translation method for each account in an account set by defining translation rules in Adaptive Planning and Consolidation (AP&C). These rules control how Workday translates monetary amounts from company currencies for each account during financial reporting. When ledger accounts have transactions in other currencies, Workday translates the amount recorded in the company currency, not the transaction currency.
Example: To translate revenue and expense accounts from USD to JPY on financial reports ending March 31, use an
Average
 rate type at the period end date. In March, Workday translates the monetary amounts for those accounts using the average rate as of March 31.
Workday displays account translation methods as:
<user-defined name> (<translation type>)
.
Example:
Daily (Current)
.
  1. Access the
    Create Account Translation Rule Set
     task.
  2. When creating a rule set, select an
    Account Set
     for which to define the translation rule set.
  3. Enter a name for the rule set.
  4. As you complete the task for setting the
    Account Translation Method
    , consider:
    Option Description
    Ledger Account Type
    Specify a method for every account type so that all accounts have a translation method.
    Workday first evaluates the individual account-based method, then the summary method, and finally the account type.
    Ledger Account Summary
    Specify the method to use for accounts within an account summary. Workday evaluates ledger account summaries from lowest
    Sequence Number
     to highest, using the first match that it finds. List your account summaries from most to least specific.
    Ledger Account
    (Optional) Specify the method to use for an individual account. Workday evaluates from most to least granular. This method takes precedence over methods you specify for ledger account summary and account type.
You can run translated financial reports with an account translation rule set that uses the same account set as the company.
(Optional) Assign the account translation rule set to company accounting details. Workday populates the translation rule set when you run translated financial reporting for that company.