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Administrator Guide
Last Updated: 2024-09-20
Enter Translated Beginning Balance Amounts for Primary Ledger Accounts in AP&C

Enter Translated Beginning Balance Amounts for Primary Ledger Accounts in AP&C

  • Enable account translation methods for manual entry of historic translation amounts.
  • Set up the translation rule set.
  • Roll forward year-end balances for the preceding fiscal year to create beginning balance journals.
  • Security:
    Process: Close Year End
     in the Common Financial Management functional area.
You can, for any currency that you want to translate to another currency during financial reporting, enter and maintain beginning balance amounts in each target currency in Adaptive Planning and Consolidation (AP&C).
When you use historic translation amounts for beginning balances, you can set up beginning balances in the translation currency; otherwise the beginning balance is zero for those accounts.
Workday recommends that you run a year-end report that returns prior-year ending balances translated from company currency to the translation currency. Use the translated currency amounts to establish your translated beginning balances.
  1. Access the
    Maintain Beginning Balance Translation Amounts
     task.
  2. As you complete the task to retrieve ledger accounts that have beginning balance journals, consider:
    Option Description
    Company
    The account set for the company must have at least 1 balance sheet account with a translation method that uses historic translation amounts.
    Fiscal Year
    Select the fiscal year for which you created beginning balance journals through the roll forward year-end process.
    For multiple fiscal schedules, you must enter the beginning balances for both the primary and alternate fiscal schedule. To enter beginning balances for the:
    • Primary schedule, select
      Standard Corporate Schedule
      .
    • Alternate schedule, select
      Alternate Fiscal Schedule
      .
    Ledger
    Select the ledger for which you created beginning balance journals through the roll forward year-end process.
    Translation Currency
    Select the currency in which you want to enter beginning balances to produce translated financial reports.
    Book Code
    When using multibook accounting and reporting, select a value to retrieve ledger accounts that have beginning balance journals for transactions with the specified book code. Leave blank to retrieve beginning balances for transactions with no book code.
    Ledger Accounts
    Select the ledger accounts that are associated with a historic translation method for which you want to define translated beginning balances.
    Leave blank to return all applicable ledger accounts.
  3. Review the beginning balance
    Debit Amount
     and
    Credit Amount
     for each account in the company currency.
    Workday displays a separate line for each unique
    Ledger Account
     and
    Worktag
     combination.
  4. Enter the beginning balance
    Translated Debit Amount
     or
    Translated Credit Amount
     in the translation currency.
    Workday recommends that you specify a translated beginning balance for each line that has a balance in the company currency. If you don't, you won't get accurate translated financial statements.
You can now run financial reports for the company in the translation currency using the translated beginning balance amounts that you entered for each currency.
Enter your beginning balance amounts and make adjustments to the prior year. Rerun the
Roll Forward Year-End Balance
 task and re-enter the translated beginning balance amounts.