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Administrator Guide
Last Updated: 2023-06-23
Define Bank Account Transfer Templates

Define Bank Account Transfer Templates

Configure the
Bank Account Transfer Template Event
 business process and security policy in the Banking and Settlement functional area.
Create bank account transfer templates to simplify the process of recording multiple bank account transfers between bank accounts. Workday applies the prepopulated values to all bank account transfers that you create using the template.
  1. Access the
    Create Bank Account Transfer 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 one or both of the
    Account Currency
     values for the sending and receiving accounts must match this transaction currency.
    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 from your statement, 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 2 different currencies are used.
    • In the transaction currency, if 3 different currencies are used.
    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.
Workday routes the completed bank account transfer template to the next business process participant for review and approval.
You can use the
Find Bank Account Transfer Templates
 report to search for and review your bank account transfer templates. From the related actions menu of a template, you can:
  • Copy your bank account transfer template and make adjustments to quickly and efficiently create additional templates.
  • Make changes to a bank account transfer template that you've submitted for approval or that's already approved.
  • Edit a bank account transfer template that's in
    Draft
     status.
  • Create bank account transfers from the template.
  • Inactivate the template when it's no longer relevant. You can also reactivate it if necessary.