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Administrator Guide
Last Updated: 2024-11-15
Steps: Enter Translated Beginning Balances for Financial Reporting

Steps: Enter Translated Beginning Balances for Financial Reporting

You can make a one-time change to translated beginning balances when necessary. These are the only 2 use cases that require a one-time change:
  • You enabled your alternate chart of accounts after you went live on Workday.
  • You need to enter translated beginning balance amounts for an alternate ledger.
If you run roll forward after making a change to beginning balances, Workday overwrites your changes. Only make one-time changes when absolutely necessary.
  1. Run a year-end Balance Sheet report that displays prior year-end balances translated from company currency to the translation currency.
    You can use these amounts to establish your translated beginning balances.
  2. Create beginning balance journals for the fiscal year of the company.
  3. Change translated beginning balance amounts.
    When you roll forward, you have the option of producing translated beginning balances. If the translated beginning balance amounts are inaccurate, you can change the amounts.
You can run the translated financial reports for the company using ledger currency mapping. The reports use the translated beginning balance amounts that you've entered for each currency. When you run the reports, select:
  • The currency and fiscal year for which you've entered translated beginning balance amounts.
  • A translation rule set that contains an account translation method that uses historic translation amounts.