Skip to main content
Documentation
Documentation
Administrator Guide
Last Updated: 2024-09-20
Steps: Set Up Currency Translations in AP&C

Steps: Set Up Currency Translations in AP&C

You can use currency translations in Adaptive Planning and Consolidation (AP&C) when you perform transactions in different currencies and need to translate them for financial reporting.
  1. Set up the
    Translation Gain
     and
    Translation Loss
     rules to define which ledger accounts to use to capture translation gain and loss.
  2. Define rates for all of your companies.
  3. Create methods for translating from company currency into translation currency during financial reporting.
  4. Define rule sets to determine which translation method each account uses.
  5. Assign 1 default account translation rule set for each company. When you run translated financial reports for the company, Workday populates the account translation rule set into your reporting criteria. You can override the default for the selected company with any translation rule set that uses the same account set.
  6. Enter conversion rates for each currency rate type. Workday uses these rates to complete currency translations for the currency rate types that you specify in your account translation methods.
    To maintain accurate currency translations, regularly enter updated currency conversion rates into Workday.