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Workday Adaptive Planning Knowledge Center

Create a Quarterly Exchange Rate Type for Quarterly Accounts

Describes how to create a Quarterly exchange rate for use with all Quarterly accounts when the General Ledger is Monthly

Exchange rates are always entered at the GL accounts' time stratum. For most organizations this means the rates are entered by month. Model dependent time lets you create accounts that use quarter as their default time stratum (quarterly accounts) when your GL accounts are set to month. Having accounts at these different time settings may not produce the currency exchange rate results you expect.

The article explains how you can create a quarterly exchange rate type to select in all of your quarterly accounts so you get the currency exchange rate results you expect.

Before You Begin

New to currencies? See Currency Overview.

Required permission: Model Management Access > Currencies.

How You Get There

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

Create Quarterly Exchange Rate 

  1. Under Exchange Rate Types select Add New.
  2. Create an Exchange Rate Type with a code, abbreviation and name that clearly indicates it is for accounts other than your GL.
  3. Provide a description that explains why it was created, like “A quarterly exchange rate for use when the GL uses month”.
    Add Exchange Rate Type for Quarterly Exchange Rate
  4. Save the Exchange Rate Type.
  5. Select Enter Currency Exchange Rates.
  6. Within Exchange Rates sheet, enter the quarterly value in the last month of each quarter.
  7. Save.
  8. When creating an account in the Account Admin, choose the Exchange Rate type you created in step 3 that matches the time stratum of this account.
    Account Details for Quarterly Account with Quarterly Exchange Rate Type
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