Override FX Rates

Entity and Parent-Level Override FX rates

You can override the global FX rates by entity, including the ability to enter FX rates specific to a parent entity.

Net Income Before Tax (NIBT) Override FX rates

The system translates NIBT and does not require the upload of NIBT or Trial Balance in any other currency, including reporting currency. The FX rate applied to NIBT can be overridden to allow the tie-out to the translated NIBT in the consolidation system when necessary.

The difference between the NIBT override rate and the average rate * NIBT is classified as a permanent difference for the current provision and the consolidated and statutory effective tax rate reconciliations.

Tax Account Rollforward

The F/X rate applied to payments and refunds are translated at the average rate. However, you can override this rate using the end of period spot rate (for example, monthly or quarterly) as required.

Viewing Data in Different Currencies

In all reports and selected data forms, you can view the data in three different currencies including:

• Entity Currency (local currency)

• Parent Currency (immediate parent)

• Reporting Currency

You can change the currency by selecting the Value dimension in data forms or reports.