Concept: Sales Item Currencies

The sales items that you add to Workday have their own defined currencies.

If the item and transaction currencies differ, Workday automatically converts the item currency into the transaction currency for both customer invoices and invoice adjustments.

The value of item currencies can change between invoice and payment, leading to realized gains and losses.

Example: You sell an item with a price of $5 US to a UK customer and agree to invoice in British pounds. When you create the customer invoice, Workday converts the item value to the current transaction value of £2.5. Exchange rates change over time and can result in a foreign currency exchange difference. When the customer pays the £2.5, the amount could convert to $4.50 or $5.15.

You can use these tasks to set item currencies:

Create Sales Item
Maintain Sales Item Price List