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Administrator Guide
Last Updated: 2023-06-23
Create Ledger Currency Adjustment Installment

Create Ledger Currency Adjustment Installment

  • Create and approve a revenue recognition schedule with at least 1 completed installment for a foreign currency customer contract.
  • Security:
    Process: Revenue Schedule - Core
     domain in the Customer Contracts and Project Billing functional areas.
You can create an extra installment line for revenue recognition adjustments. The adjustment installment ensures that the invoiced ledger amounts equal the ledger amounts for recognized revenue at a specific point in time. Workday determines how much you've invoiced your customers in the ledger currency by adding all the completed installments for a contract line. You can create adjustments for revenue that's out of balance due to exchange rates or currency rate overrides.
Workday displays every fixed amount line requiring an adjustment from the
Manage Lines
 task for the revenue recognition schedule. Variable contract lines don't display because the actual ledger amount billed is already on the installment. Workday displays the ledger amount at both the recorded and historic rates.
  1. From the related actions menu of an approved revenue recognition schedule with foreign currency, select
    Revenue Recognition Schedule
    Create Ledger Currency Adjustment Installment
    .
  2. As you complete the task, consider:
    Option Description
    Accounting Date for Adjustment Installment
    You can override the date with any accounting date that's applicable to the entire installment.
    Create Revenue Recognition Accounting
    Select for Workday to run the
    Create Revenue Recognition Accounting
     task automatically when you save the current task. Regular posting rules and approvals apply. Workday moves the ledger amount for deferred revenue into the revenue account so that the completed installment displays on the revenue recognition schedule with the new ledger amount.
    Amount Recorded in Primary Currency
    Displays the installment amount invoiced to the customer from the revenue recognition schedule.
    Amount at Historic Rate in Primary Currency
    Displays the customer invoiced amount in the primary ledger currency at the current point in time. To preview line details for how Workday calculates the rate, click the amount.
    Revenue Recognition Adjustment in Primary Currency
    When the
    Amount at Historic Rate in Primary Currency
     is:
    • Greater than the
      Amount Recorded in Primary Currency
      , enter a positive adjustment amount to increase the
      Amount Recorded in Primary Currency
      .
    • Less than the
      Amount Recorded in Primary Currency
      , enter a negative adjustment amount to reduce the
      Amount Recorded in Primary Currency
      .
Workday creates an installment for the revenue recognition schedule. The installment includes ledger currency amounts without transaction amounts so that you can create accounting for revenue recognition.