Concept: Transaction Currency
The
transaction
currency
is the currency that you associate with a transaction when
you create or edit it. Depending on the type of transaction, Workday
defaults the currency of the company, the customer, the supplier, or the
employee.Although Workday uses the company currency to generate accounting for
transactions, you can assign foreign currencies to transactions for a customer, supplier, or
another currency. The transaction currency persists throughout the lifecycle of the
transaction. Thus, the currency for an invoice and its payment must match.
You can use many tasks within Workday to create operational transactions. It
is important that you maintain currency conversion rates between the company currency and
other currencies in which you transact. Upon transaction approval, Workday generates
accounting entries in the company currency. If the transaction and company currencies differ,
Workday automatically converts the transaction currency to the company currency.