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Entering Daily Rates

General Ledger uses daily rates to perform foreign currency journal conversions. You can maintain daily conversion rates between any two non-EMU currencies that you have enabled in your applications instance. For EMU currencies, you can only enter daily rates between the EMU currency and other currencies if the date precedes the EMU currency's effective starting date.

If you use General Ledger's Multiple Reporting Currencies feature, your daily rates are used to convert your primary set of books' journals to the appropriate reporting currencies when the journals are copied to your reporting sets of books. Your daily rates must be defined before you post journals in your primary set of books.

Additional Information: If you have average balance processing enabled in your set of books, you must define a daily rate on or before the first day of the first year for which you want to translate balances.

Note: General Ledger maintains one set of daily rates for all sets of books within an applications instance. In earlier releases, General Ledger maintained a set of rates for each set of books.

Entering Foreign Currency Journals

If you specify a foreign currency, conversion date, and conversion rate type when entering journals, General Ledger will automatically display the daily rate you defined to convert the foreign currency to your functional currency, for the specified date and rate type. General Ledger calculates functional debit and credit equivalents by multiplying the debits and credits entered in a foreign currency by the retrieved daily rate.

See: Entering Foreign Currency Journals

Daily Rates in Oracle Receivables

If you enter exchange rates in the Daily Rates window, Oracle Receivables will display the appropriate rate for a particular transaction date in the QuickCash, Receipts, Apply Miscellaneous Transactions, Credit Memos, and Transactions windows. If you do not maintain daily rates, you can still enter exchange rates manually when you enter your foreign currency receipts, debit memos, on-account credits, invoices, deposits, and guarantees.

Prerequisites

Additional Information: If you want to enter different daily rates for the same combination of from-currency, to-currency, and conversion date, you must define separate conversion rate types. See: Defining Conversion Rate Types.

   To enter a daily conversion rate:

Additional Information: If your functional currency is an EMU currency, the to-currency defaults to the Euro. See: Defining European Monetary Union Relationships.

Note: If you have the profile option Journals: Display Inverse Rate set to Yes, General Ledger will display inverse exchange rates in the Enter Journals and other windows. For example, assume that the profile option is set to Yes and your functional currency is USD. If you enter the AUD to USD rate as .7793 in the Daily Rates window, General Ledger will display the inverse rate, or 1.2832, in the Enter Journals window when you create a foreign currency journal using AUD as the foreign currency.

See Also

Multiple Reporting Currencies Overview

Loading Rates Automatically

Entering Foreign Currency Journals

Defining Currencies

Defining Conversion Rate Types

Translating Balances

Revaluing Balances

Overview of Multi-Currency Accounting

Setting General Ledger Profile Options

Loading Daily Rates Automatically

General Ledger provides the GL_DAILY_RATES_INTERFACE table that you can use to automatically insert, update, or delete daily rates in the GL_DAILY_RATES table. General Ledger validates the rows in the interface table before making changes in the GL_DAILY_RATES table.

Warning: Always use the interface table to load your daily rates into General Ledger. Do not load rates directly into the GL_DAILY_RATES table, since this can corrupt your daily rates data.

When General Ledger processes the interface table, the system follows the behavior described below:

From-currency:          JPY
To-currency:            USD
Conversion date range:  01-OCT-97 to 03-OCT-97
User conversion type:   Spot
Conversion rate:        .0083

JPY  USD  01-OCT-97  Spot  .0083
JPY  USD  02-OCT-97  Spot  .0083
JPY  USD  03-OCT-97  Spot  .0083

USD  JPY  01-OCT-97  Spot  120.482
USD  JPY  02-OCT-97  Spot  120.482
USD  JPY  03-OCT-97  Spot  120.482

The GL_DAILY_RATES_INTERFACE Table

The insert, update, or deletion of rates in GL_DAILY_RATES is done automatically by database triggers on the GL_DAILY_RATES_ INTERFACE table. You do not need to run any import programs. You only need to develop an automated process that populates the interface table with your daily rates information.

The columns in GL_DAILY_RATES_INTERFACE are described below.

Column Name Null? Type
FROM_CURRENCY NOT NULL VARCHAR2 (15)
TO_CURRENCY NOT NULL VARCHAR2 (15)
FROM_CONVERSION_DATE NOT NULL DATE
TO_CONVERSION_DATE NOT NULL DATE
USER_CONVERSION_TYPE NOT NULL VARCHAR2 (30)
CONVERSION_RATE NOT NULL NUMBER
MODE_FLAG NOT NULL VARCHAR2 (1)
INVERSE_CONVERSION_RATE   NUMBER
USER_ID   NUMBER (15)
ERROR_CODE   VARCHAR2 (30)
LAUNCH_RATE_CHANGE   VARCHAR2 (1)
CONTEXT   VARCHAR2 (150)
ATTRIBUTE1   VARCHAR2 (150)
ATTRIBUTE2   VARCHAR2 (150)
ATTRIBUTE3   VARCHAR2 (150)
ATTRIBUTE4   VARCHAR2 (150)
ATTRIBUTE5   VARCHAR2 (150)
ATTRIBUTE6   VARCHAR2 (150)
ATTRIBUTE7   VARCHAR2 (150)
ATTRIBUTE8   VARCHAR2 (150)
ATTRIBUTE9   VARCHAR2 (150)
ATTRIBUTE10   VARCHAR2 (150)
ATTRIBUTE11   VARCHAR2 (150)
ATTRIBUTE12   VARCHAR2 (150)
ATTRIBUTE13   VARCHAR2 (150)
ATTRIBUTE14   VARCHAR2 (150)
ATTRIBUTE15   VARCHAR2 (150)
USED_FOR_AB_TRANSLATION   VARCHAR2 (1)

Required and Conditionally Required Columns

The field descriptions below are based on the example below.

FROM_CURRENCY: The source currency applicable to the conversion rate. The amount denominated in the from-currency multiplied by the conversion rate gives the amount denominated in the to-currency.

TO_CURRENCY: The target currency applicable to the conversion rate.

FROM_CONVERSION_DATE: The starting date of the range of dates for which rows will be inserted into GL_DAILY_RATES. General Ledger will insert one row for each date in the range. Each date will have the same conversion rate you specify.

TO_CONVERSION_DATE: The ending date of the range of dates for which rows will be inserted into GL_DAILY_RATES.

Additional Information: The range of dates specified by FROM_CONVERSION_DATE and TO_CONVERSION_DATE cannot exceed 366 days.

USER_CONVERSION_TYPE: The conversion type that users see displayed in the Daily Rates window. General Ledger automatically converts the user conversion type into the conversion type ID that is stored in the GL_DAILY_RATES table.

CONVERSION_RATE: The currency conversion rate. This is the rate by which the amount denominated in the from-currency is multiplied to arrive at the amount denominated in the to-currency.

Additional Information: If the row you are entering in the interface table is to delete rates in GL_DAILY_RATES, enter a dummy CONVERSION_RATE.

MODE_FLAG: For each row, enter 'D' if you want to delete matching rows from the GL_DAILY_RATES table. Enter 'I' if you want to insert new rows.

Additional Information: If you specify 'I' as the MODE_FLAG and the combination of from-currency, to-currency, conversion date, and user conversion type already exist in GL_DAILY_RATES, the existing rate will be updated with the new rate you specified in the interface table.

If you specify 'D' as the MODE_FLAG, General Ledger will also delete corresponding inverse rates rows in GL_DAILY_RATES.

Note: Any rows you enter in GL_DAILY_RATES_INTERFACE that fail validation will remain in the interface table and will not be moved to GL_DAILY_RATES. Also, the mode flag will change to X and the error code column will be populated. Use a SQL*Plus SELECT statement to check if any of the rows you loaded into the interface table failed validation.

You cannot reprocess rejected rows that remain in the interface table after failing validation. To process the correct data, you must first delete the rejected rows from the interface table then enter the correct data as new rows in the table. The new data will be processed as usual.

Optional Columns

INVERSE_CONVERSION_RATE: The inverse of the conversion rate. This is the rate by which the amount denominated in the to-currency is multiplied to arrive at the amount denominated in the from-currency.

Additional Information: If you do not provide this value, General Ledger will calculate the inverse rate from the CONVERSION_RATE column and insert the appropriate inverse rate rows into GL_DAILY_RATES.

USER_ID: The user ID of the person who is adding rows to the interface table. To determine the user ID for a specific user name, use the following SQL*Plus statement:

select user_id
from fnd_user
where user.name='<user name>'

LAUNCH_RATE_CHANGE: If you want the rate change program to run automatically, enter a 'Y' in the LAUNCH_RATE_CHANGE column for one row of the rates you are loading. Leave this column blank for the remaining rows. Otherwise, multiple concurrent requests will be launched when only one is required to load all of your rates.

When a daily rate has changed, the rate change program will outdate average translations in those average balance sets of books that use the changed daily rate.

CONTEXT: The descriptive flexfield context.

ATTRIBUTE1 through ATTRIBUTE15: Any descriptive flexfield information associated with the daily rate.

Other Columns

ERROR_CODE: The text of the error message you receive if the row in the interface table failed validation. This column is used by the system. No user entry is needed.

USED_FOR_AB_TRANSLATION: This column is used internally by General Ledger when copying rates to GL_DAILY_RATES. Do not make any entries in this column.

See Also

Entering Daily Rates

Defining Currencies

Defining Conversion Rate Types

Multiple Reporting Currencies Overview


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