Record Type Label (.name) Translations not appearing in Formula Field or Query Results

Question

I have an object, Loan_Transaction__c, where some (but not yet all) Record Types have a translation in Translation Workbench. For example, the Record Type with DeveloperName "Payment" has label value "Payment" in English, and the translation "Pago" in Spanish in TW. The object also has a Formula Field, Record_Type__c, which returns RecordType.Name.

In the screen shot above, the top field ("Tipo de registro") is the built-in Record Type field available on any page layout when an object has record types. The second field is the custom field Record_Type__c. I'm not concerned about the field label; the translator hasn't entered that yet. But the field value is a formula, RecordType.Name, which should now appear in Spanish.

Same thing happens if I query the values:

select id, Record_Type__c, RecordType.name from Loan_Transaction__c where id = 'a5DW00000007P0MMAU'

That id is the same record with the "Payment" record type from the screenshot. When my language is set to Spanish, both fields return "Payment", not "Pago".

Answer 1

We can retrive the RecordType.Name translation with toLabel() as follows

select id, Record_Type__c, toLabel(RecordType.name) from Loan_Transaction__c where id = 'a5DW00000007P0MMAU'

Soql always returns the English values, but if we use the toLabel() it returns translated value.

Certainly there is no way to display translated value of a Formula field. As an alternative, instead of the Formula field we can create the Picklist Field by adding all the record types as Values & set the default value as RecordType.Name. Do the translations for the picklist values, then if we use toLabel() it returns the translated Value.
But i don't think so it would be feasible, as you need to do the dataload for the Existing records.