Entering Exchange Rates

Financial Consolidation and Close provides the ability to enter direct exchange rates, indirect exchange rates and cross-rates. It is recommended that only direct rates be entered to Financial Consolidation and Close for the most accurate indirect and cross-rates to be generated.

See About Exchange Rates.

You can enter Exchange Rate data using two pre-built system Exchange Rate forms:

  • Enter Exchange Rates - Single Period: Enter exchange rates for the single period selected in the Point of View.
  • Enter Exchange Rates - Multi Period: Enter exchange rates for multiple periods to a single To Currency selected in the Point of View

Note:

The predefined Rate forms are only provided if the Multi-currency option was selected during application creation. See Predefined Forms.

You can also import Exchange Rates. See Example: Data Import File - Exchange Rates.

To enter direct rates in a data form:

  1. On the Home page, click Data.

  2. From the Forms list, click Enter Exchange Rates - Single Period, or Enter Exchange Rates - Multi Period.

  3. From the POV, select the Scenario, Year, and Periods.In the rows, select the level 0 descendants in the "From Currency" dimension, excluding the currency defined as the system currency:ILvl0Descendants(From Currency) excluding USD

  4. In the rows, select the level 0 descendants in the "From Currency" dimension, excluding the currency defined as the system currency:

    ILvI0Descendants(From Currency) excluding USD

  5. In the columns, select the level 0 descendants of "Entered Exchange Rates" in the Account dimension:

    ILvI0Descendants(Entered Exchange Rates)

  6. Enter the direct rates and click Save.

  7. From Actions, select Compute Rates.

To view all rates in a form:

  1. From the Home page, click Data, and then open the Exchange Rate form to review the rates.

  2. In the rows, select the level 0 descendants in the "From Currency" dimension:

    ILvI0Descendants(From Currency)

  3. In the columns, select the level 0 descendants of "Input Currencies" in the Currency dimension:

    ILvI0Descendants(Input Currencies)

  4. In the columns, select the level 0 descendants of "Entered Exchange Rates" in the Account dimension:

    ILvI0Descendants(Exchange Rates)

After you have entered all the direct rates and executed the "Compute Rates" rule, all direct, indirect and cross-rates will be displayed.

The direct rate entry and all rates display can be combined into one form for a single period if required.

In this example, direct rates for USD, BRL, CAD, CHF and GBP are entered in the first two columns against a system currency of EUR. All indirect and cross-rates are then displayed.


Exchange Rate example