1. Setting Up and Configuring Account Reconciliation
  2. Setting Up Reconciliation Compliance
  3. Configuring Reconciliation Compliance
  4. Defining Currency
  5. Defining Rate Types
  6. Creating Rate Types

Creating Rate Types

When foreign exchange rates are imported from source systems, they are associated with a rate type. Assign profiles and reconciliations that require foreign exchange translation a rate type that matches the rate type used for balance translation in the source system. When Account Reconciliation calculates foreign currency transaction values in a reconciliation, it uses the rates associated with the rate type assigned to the reconciliation.

To create Rate Types:

  1. From Home, select Application, and then Configuration.
  2. Select Currencies, and then Rate Types.
  3. Select Add (+).
  4. Enter the following information

    • Rate Type—Enter a unique name for the Rate Type.

    • Source System—Enter the name of the source system. For example, if importing currency rates from Oracle GL as the source system, enter Oracle GL.

    • Source System Rate Type—Enter the source system rate type. For example, if importing currency rates from Data Management, select the rate type such as Oracle GL Corporate.

    • Data Management—If the data is from Data Management, this column displays a check mark.