1. Administering Financial Consolidation and Close
  2. Working with Dimensions
  3. Setting Up Currencies
  4. Working with Multiple Currencies

Working with Multiple Currencies

If an application supports multiple currencies, you can enable multiple currencies per entity on forms.

If multiple currencies are enabled, users can see values converted from the local currency to a reporting currency and can override a cell’s base currency.

Note:

  • When the local currency is selected on forms, the default stored and displayed currency for cells is the entity’s base currency (which you specify). Users can enter data values only into local currency members. If the local currency member is selected, all currencies specified for the application are available as input types.

  • You can set dimension properties for each currency in the Edit Currency dialog box. In preferences, users can select different display options, and can select Currency Setting to apply the properties set by the administrator.

  • Currencies can be converted only to reporting currencies. Users cannot enter data into cells displayed in reporting currencies. The application’s main currency is by default a reporting currency. You can change which currencies are reporting currencies.

  • Currencies defined for the application are valid currencies for data entry. Valid currencies for data entry are displayed in a list that users access by clicking the Currency link during data entry.

  • Currency codes associated with input values are stored as numeric values. These codes are calculated in dimension formulas and business rules. The calculated values of these currency codes may translate to currency codes that are incorrect or invalid. Where there are children with mixed currencies, review calculated results on the upper levels.

  • If a parent has multiple children, of whom only one child has an overridden currency, the parent inherits the overridden currency code (which is not displayed on forms).

  • In certain cases, parent entities display #MISSING when trying to convert to a selected currency. Ensure that a currency rate is entered for each combination of local currencies and selected currencies on forms or reports. Currency combinations must exist for all mixed-currency children entities and parent members.