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Administrator Guide
Last Updated: 2024-09-20
Review Foreign Currency Revaluation in AP&C

Review Foreign Currency Revaluation in AP&C

At the end of the month or quarter, there could be currency exchange gains or losses for ledger accounts that have balances in foreign currencies revaluation in Adaptive Planning and Consolidation (AP&C). For balance sheet accounts that have transactions in foreign currencies, you can:
  • View the impacts of currency rate fluctuations.
  • Analyze your currency exposure by ledger account and currency.
The report identifies ledger accounts with foreign currency amounts that Workday will revalue. It doesn't display the revaluation result. To review results, access the
Find Revaluations
 report and select
View Revaluation Result
.
  1. Access the
    Foreign Currency Revaluation Report
    .
  2. As you complete the run criteria, consider:
    Option Description
    Balance or Activity
    Select whether you want to report on ledger account balances or activity. Select
    Balance
     to revalue ledger accounts on a Year to Date (YTD) basis that includes beginning balances. Select
    Activity
     to revalue ledger accounts for period activity that excludes beginning balances.
    Consider using saved filters to run the report for these separate groups:
    • Balance sheet accounts revalued at Current rate using Balance.
    • Income statement accounts revalued at Average rate using Activity.
    Currency Rate Type
    To calculate the revaluation amounts, use the default or select the same currency rate type that you use in your revaluation rule.
    Ledger Accounts
    Select specific income, expense, or balance sheet accounts to include or exclude in the report. Example: you can exclude equity accounts.
  3. Review the impact of each foreign currency within each affected ledger account:
    Option Description
    Ledger Account
    The account impacted by foreign currency transactions.
    Foreign Currency
    For an account that has foreign currency transactions, Workday displays each foreign currency on a separate line.
    Foreign Amount
    The total account balance of transactions in this currency, recorded as part of the transaction. You can drill into the journal entries behind the amount.
    Recorded Base Amount
    The foreign amount, converted into base currency of the company as part of the transaction. To calculate, Workday uses the
    Default
     rate type in your tenant to convert the foreign currency for the transaction to the base currency of the company as of the transaction date. Displays as a debit or credit. Click to drill into the journal entries behind the amount.
    Base Currency
    The base currency of the company. Workday uses this currency to calculate the recorded base and revalued base amounts.
    Currency Rate
    The selected currency rate type, as of the period end date, to convert the amount from the transaction currency to the base currency. Workday uses this rate and the foreign amount column to calculate the revalued base amount.
    Revalued Base Amount
    The foreign currency account balance, revalued into the base currency for the company as of the end of the period. Workday uses the selected exchange rate as of the period end date to convert the foreign currency amount for the transaction to the base currency for the company. Displays as a debit or credit.
    Exchange Gain/(Loss)
    This column in the report will display a zero amount once revaluation is complete. If the gain or loss resulting from the foreign currency rate change doesn't zero out, the revaluation isn't complete. Rerun the revaluation till you get a zero balance.
View the revalued foreign currency amounts. If you’ve processed your revaluation journal for the period, the gain or loss amount should be zero for all accounts included in the revaluation rules.
Workday summarizes journal entries by:
  • Ledger Account/Ledger Account Summary.
  • Time frame, and Balance or Activity parameters.