Currency Summary Options
PeopleSoft Project Costing capitalization processes evaluate transaction currency when summarizing project transaction costs. During installation you can choose the level of currency detail to send to PeopleSoft Asset Management when you capitalize assets.
In a multicurrency environment, where the currency may vary between the transaction, the project, and the Asset Management book, you may want to retain the currency transaction details in PeopleSoft Asset Management. Use the multiple currency summarization option if you want the capitalization processes to summarize down to the five currency fields—Transaction Currency Code, Currency Effective Date, Rate Multiplier, Rate Divisor, and Rate Type.
Alternatively, in a single currency environment, you have no need to maintain transaction currency detail in PeopleSoft Asset Management. You can select the single currency summarization installation option for the system to ignore the five currency fields and achieve a greater level of summarization.
Example of a Multiple Currency Environment
Assume that many transactions exist for a project in January 2007. Among the transactions there are two different transaction currency codes and two different currency effective dates. In this example the transactions have the same rate multiplier, rate divisor, and rate type. In a multicurrency environment, PeopleSoft Project Costing summarizes down to the detail currency level and sends three transactions to PeopleSoft Asset Management, as shown in this table:
| Transaction Amount | Transaction Currency Code | Currency Effective Date |
|---|---|---|
|
100 |
FRF |
January 1, 2007 |
|
100 |
FRF |
January 15, 2007 |
|
100 |
YEN |
January 15, 2007 |
Example of a Single Currency Environment
Assume that these three transactions exist for a project in January 2007:
| Transaction Amount | Transaction Currency Code | Project Amount | Project Currency Code | Currency Effective Date |
|---|---|---|---|---|
|
50 |
USD |
50 |
USD |
January 1, 2007 |
|
60 |
USD |
60 |
USD |
January 15, 2007 |
|
140 |
USD |
140 |
USD |
January 31, 2007 |
In a single currency environment, PeopleSoft Project Costing sends one summarized transaction in the amount of 250 USD to PeopleSoft Asset Management, as shown in this table:
| Transaction Amount | Transaction Currency Code | Currency Effective Date |
|---|---|---|
|
250 |
USD |
January 31, 2007 |