How to Perform Direct Asset Transactions in Secondary Ledger Tax Books with a Different Currency

Use file-based data import templates to perform direct asset transactions, including additions, and adjustments within tax books that are associated with secondary ledgers, even when the secondary ledger operates in a different currency from the primary ledger.

The currency conversions are applied at the transaction level using either the provided fixed asset cost or the conversion rate.

You can directly enter asset costs in a tax book’s currency or you can specify the conversion rate to be used between the corporate book and the tax book. This reduces reliance on daily rates and simplifies handling legacy asset conversions where historical rates are needed.

Here are the file-based data import templates that support these multicurrency capabilities.

• Fixed Asset Mass Additions Import: In the FA_MC_MASS_RATES sheet, you can enter either the asset cost in the tax book’s currency or the applicable conversion rate using the Secondary Ledger Tax Book column.

  For corporate book asset conversions, you can also specify these values for any related reporting currencies and secondary ledger tax books. The mass copy process will use the provided data when copying assets from the corporate book to the tax book.

  For assets added directly to a tax book, enter the cost or conversion rate and the asset addition process will apply it. The template also supports multiple source lines for a transaction with different rates for each, if needed.

• Fixed Asset Mass Adjustments Import: The FA_ADJ_RATES_INT_V sheet lets you specify conversion rates for both adjustment and invoice addition transactions. Enter reporting currency rates for corporate books or secondary ledger rates for tax books. Both source line and nonsource line cost adjustments are supported.
  Note: For invoice additions with multiple source lines and rates, use the Fixed Asset Mass Additions Import template.

  For Adjustment transactions, the cost entered in FA_ADJUSTMENTS_T sheet can represent either the adjustment amount or the new total cost, depending on whether a conversion rate or amount is provided in the FA_ADJ_RATES_INT_V sheet.

  • With a conversion rate or amount: The cost represents the adjustment amount by which the current asset cost will be increased or decreased. It doesn’t represent the new total cost of the asset after the adjustment.
  • Without a conversion rate or amount: The cost represents the new total cost of the asset after the adjustment.

Here are some additional considerations.

• Asset additions and adjustments performed through the user interface or ADFdi spreadsheets use only daily rates. Similarly, transactions uploaded using file-based templates without a specified conversion rate will also use daily rates.
• Invoice addition transactions can be used only when the source lines are allowed for the secondary ledger tax book.
• When both the cost and exchange rate are entered for a transaction, the cost will be considered.
• It's recommended to not make further edits or updates to assets loaded through file-based import using the Create Asset Additions and Adjust Assets spreadsheets or the Edit Source Lines and Change Financials Details pages. Instead, you should purge the data and re-import it using the file-based data import template.