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Workday Adaptive Planning KB

Add or Edit an Exchange Rate Type

Explains how to add or edit exchange rate types.

On the Add or Edit Exchange Rate Type page, you can set up or edit the information for an exchange rate type. This determines how the type appears on the Enter Currency Exchange Rates page. An exchange rate type is not an exchange rate itself, but is a method for determining an exchange rate, such as "Average" or "End of Month."

Before You Begin

Required permissions: Model Management Access > Currencies.

New to currencies? See Currency Overview.

How You Get There

Compass.png From the nav menu, select Modeling. Then, from the Others Menu, select Currencies.

Add New 

  • Code: Enter a code for the exchange rate type. Each exchange rate type must have a unique code no more than 8 characters long and containing only letters, numbers, and underscores (no special characters can be used).

  • Abbreviation: Enter the abbreviation you want to use for the exchange rate type. This abbreviation identifies the exchange rate type in sheets and on pages such as the Enter Currency Exchange Rates page. The abbreviation must be no more than 20 characters in length.

  • Name: Enter a name for the exchange rate type. Its full name appears on some sheets and reports.

  • Description: Enter a description, which appears on the Manage Currencies screen.

Change Exchange Rate Type Settings

You set the exchange rate method for your system in the Settings box. You must select between Multiplier and Divisor. If you already have exchange rates set up, changing this also requires you to change each of those after changing the method here, which is not recommended.

To change the rate, select a different option from the drop-down menu and select OK when the confirmation popup appears.

The box below the Exchange rate method menu lets you enable cumulative translation adjustment (CTA). When CTA is enabled, the system creates an account in the Equity account tree to handle any variances created within the Equity account tree and the Assets and Liabilities account trees resulting from the presence of different exchange rate types in those trees. This account cannot be edited or imported to. Once created, its properties (including its name) can be edited from the Account Administration screen (go to Modeling > Model Management and select General Ledger Accounts).

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