What adjustment is necessary when adding a new currency?

When adding a new currency in Workday Adaptive Planning, the primary necessary step is to add the currency itself. This involves defining the currency code, name, and other relevant details within the system to ensure it can be used in future financial planning and reporting.

Adding a currency is essential because it enables the organization to track transactions, budgets, and forecasts in multiple currencies, which is particularly important for businesses operating in a global market. This step allows for enhanced financial analysis that includes the impact of various currency fluctuations on projected results and overall financial health.

Defining conversion rates, while a critical process in a multi-currency environment, is a subsequent step that comes after the currency has been successfully added. It ensures that conversions between the new currency and existing currencies are accurate, but it cannot take place without first incorporating the new currency into the system.

Therefore, the correct adjustment is to first add the currency to the system to enable it for all subsequent financial activities.