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