Steps: Set Up Intercompany Multicurrency Netting
In Workday, you can pay direct intercompany invoices in multiple currencies using a direct intercompany netting process. You can:
- Define which direct intercompany customer invoices can net against which direct intercompany supplier invoices between initiating and netting companies.
- Create netting transaction groups.
- Process multiple direct intercompany netting runs based on the selected rules.
- Schedule recurring netting runs.
Example: You want to net invoices between 2 subsidiaries of your company. 1 subsidiary is based in the UK with invoices in GBP and the other is based in Canada with invoices in CAD. You first configure a direct intercompany netting rule for these companies and define a reference currency to compare to. You then submit a direct intercompany netting transaction group for these subsidiaries based on the selected rule. Workday creates a direct intercompany netting transaction with the invoices that you net for both subsidiaries.
- (Optional) Access theProcess Direct Intercompany Netting Runtask.Create a netting run for a combination of direct intercompany netting transaction groups.Security:Process: Netting Transaction - Direct Intercompany Netting Rundomain in the Customer Accounts and Supplier Accounts functional areas.
- (Optional) Access theSchedule Direct Intercompany Netting Runtask.Schedule intercompany netting runs to occur at your desired frequency.Security:Process: Netting Transaction - Direct Intercompany Netting Rundomain in the Customer Accounts and Supplier Accounts functional areas.
On the
View Direct Intercompany Netting Run
page:
- Groups Created: Drill into individual netting groups and view the group status and errors that prevent the group from being fully approved.
- Groups Not Created: View the netting rules and company combinations processed in the netting run and the reasons the netting groups weren't created.