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.
See: Entering Foreign Currency Journals
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.
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.
Loading Rates Automatically
Entering Foreign Currency Journals
Defining Conversion Rate Types
Overview of Multi-Currency Accounting
Setting General Ledger Profile Options
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:
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 columns in GL_DAILY_RATES_INTERFACE are described below.
|FROM_CURRENCY||NOT NULL||VARCHAR2 (15)|
|TO_CURRENCY||NOT NULL||VARCHAR2 (15)|
|USER_CONVERSION_TYPE||NOT NULL||VARCHAR2 (30)|
|MODE_FLAG||NOT NULL||VARCHAR2 (1)|
|Table 1 - 23. GL_DAILY_RATES_INTERFACE Table (Page 1 of 1)|
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.
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:
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.
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.
Defining Conversion Rate Types
Multiple Reporting Currencies Overview