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Administrator Guide
Last Updated: 2026-03-13
Define Bank Account Transfer for Settlement Templates

Define Bank Account Transfer for Settlement Templates

  • Configure the
    Bank Account Transfer for Settlement Template Event
     business process and security policy in the Banking and Settlement functional area.
  • Security:
    Set Up: Bank Account Transfer for Settlement - Template
     domain in the Banking and Settlement functional area.
Define a template to use for creating recurring bank account transfers for settlement. Workday automatically populates the values from a predefined template onto new bank account transfers for settlement created using the template.
  1. Access the
    Create Bank Account Transfer for Settlement Template
     task.
  2. As you complete the task, consider:
    Option Description
    Transaction Currency
    Select the currency of the funds transferred from the source account to the receiving account.
    Both
     the source and receiving accounts must accept the selected transaction currency. In addition, either 1 or both of the
    Account Currency
     values for the sending and receiving accounts must match this transaction currency.
    Initiating Company
    Initiating Account
    Select a bank account and company to use for initiating a transfer request to withdraw funds. For direct debits, this account is the same as the beneficiary bank account that receives the funds.
    Workday dynamically updates the
    From Account
     and
    To Account
     fields based on the payment type and initiating account and company.
    To draw down funds from a bank account, edit the initiating bank account to enable integration for the
    Direct Debit
     payment type and the
    Bank Account Transfer for Settlement
     payment category.
    Eliminate Foreign Exchange Gain or Loss
    Select to exclude realized foreign exchange gain or loss from bank account transfers.
    Example: If you override the currency conversion rate with a bank rate, the difference between the 2 values creates a realized exchange gain or loss journal entry.
    With this option, Workday eliminates this additional journal entry line and balances the ledger amounts using the entry entered:
    • In the ledger currency, if there are 2 different currencies.
    • In the transaction currency, if there are 3 different currencies.
    For an intercompany bank account transfer between 2 companies sharing the same base currency, Workday balances the intercompany receivable and payable.
    Currency Rate Type
    If the
    From Currency
     or
    To Currency
     differs from the transaction
    Currency
    , Workday uses the
    default
     currency rate type to convert the funds. You can override this rate type.
    To set the default rate type, use the
    Maintain Currency Rate Types
     task.
    Optional Balancing Worktags
    When you enable optional worktag balancing on the
    Maintain Worktag Balancing Configuration
     task, Workday fully balances journal lines by optional balancing worktags. Journal lines automatically:
    • Inherit optional balancing worktags based on the worktag types selected.
    • Generate due to and due from entries to balance transactions.
    Originating Country Payment Purpose
    Receiving Country Payment Purpose
    Display when you enable payment purpose codes.
    Select payment purpose codes that identify the purpose of the payment, as required by banks or local regulatory requirements in the originating or receiving country. See Concept: Payment Purpose Codes.
Workday routes the completed bank account transfer for settlement template to the next business process participant for review and approval.
You can use the
Find Bank Account Transfer for Settlement Templates
 report to search for and review your bank account transfer for settlement templates. From the related actions menu of a template, you can:
  • Copy your bank account transfer for settlement template and make adjustments to quickly and efficiently create additional templates.
  • Make changes to a bank account transfer for settlement template that you've submitted for approval or that's already approved.
  • Edit a bank account transfer for settlement template that's in
    Draft
     status.
  • Create bank account transfers for settlement from the template.
  • Inactivate the template when it's no longer relevant. You can also reactivate it if necessary.