About Simplified Multicurrency

In a Simplified multiple currency application, a single Currency dimension is added to the application and exchange rates are stored in the Accounts dimension.

Here is the workflow for working with a Simplified multiple currency application:

  1. During application creation, select a main currency against which the entire application will refer to when a currency conversion is done.

  2. After the application is created, in the Currency dimension, create a Currency member for each currency in the application. The Currency members you create are listed under Input Currencies. Data is entered or loaded in an input currency and data can be entered or loaded into multiple input currencies for any given combination; for example Entity and Account.

  3. While creating a Currency member, you can specify whether the currency you're adding is also a reporting currency. Select the Reporting Currency option to make a currency a reporting currency.

    Note:

    Each application has one main currency, and is allowed to have many reporting currencies.

  4. You can assign security to the Currency dimension to make Currency dimension members read-only based on user access. To enable security for the Currency dimension, click the Edit Dimension Properties tab, and then select Apply Security. See Editing Dimension Properties in the Simplified Dimension Editor.

  5. For simplified multiple currency applications with a custom aggregate storage cube, you must enable the Account, Period, and Currency dimensions for the custom aggregate storage cube. All dimensions in default aggregate storage cubes are enabled by default, but you must enable these dimensions manually for custom aggregate storage cubes. To enable Account, Period, and Currency dimensions for custom aggregate storage cubes, edit dimension properties for each dimension and select to enable them for the aggregate storage cube. See Editing Dimension Properties in the Simplified Dimension Editor.

  6. Refresh the application. The Calculate Currency rule converts the input values from the current currency to the reporting currencies. Exchange rates are calculated from the input currency to the main currency of the application. Triangulation is used to calculate from an input currency to all reporting currencies.

  7. Enter exchange rate data to the exchange rate form that was automatically created and seeded during application creation. The exchange rate form is called Exchange Rates to Main Currency; for example, Exchange Rates to USD. Enter the exchange rates by period for all input currencies against the main currency. You must enter the values across all intersections under which you wish to see the converted data.

    Note:

    You can also export the Exchange Rate Template to input and load currency exchange rates. See Importing Exchange Rates for a Simplified Multicurrency Application.

    Exchange rates are stored in the Account dimension and they contain the ending and average rates used to convert foreign currencies into the main currency. These rates are in FX Rates-Average and FX Rates-Ending. These rates are locked and can't be deleted. Users with view permissions can view the rates for the currencies on the Exchange Rates to Main Currency form.

    Note:

    You can't move an Account member that is under an Exchange Rates account out from under Exchange Rates because the Exchange Rates account is locked. To move an Exchange Rate member out of the Exchange Rates account, you must delete the member and then re-add it to the new location.

  8. There are two ways to view Reporting currency values:

    • Calculate Currencies rule on a form—On the data input form, add the Calculate Currencies business rule. To add this rule, click the Action menu, and then select the Business Rule option. You can use the Run After Save or Run Before Load business rule properties. When data is entered for the input currency and the Calculate Currency rule is executed, the currency is converted and displays in the reporting currency form.

      Note:

      • Ensure that any forms created have the same intersection as that of the Exchange Rates to Main Currency form, with respect to Scenario, Version, and Year.

      • Ensure that both the input and converted forms have the same structure, the only difference between the forms being the currency.

      • Associate the Calculate Currencies rule to the forms where the input is being provided. You can set up forms to automatically run these rules when data in the form is saved. If not, users must manually launch the rule to convert data from one currency to the reporting currencies. After the rule is run, view the converted values by opening the form for which you want to see the converted values or by selecting that currency's member from the Currency dimension.

      • The Calculate Currencies rule is associated with forms in a block storage cube. Simplified currency conversion isn't supported for aggregate storage cubes.

      • You can restrict currency calculations in forms and batch currency rules based on the range defined for the scenario time period. In Application Settings, select Yes for Enable currency calculation based scenario time period.

    • Create and launch a custom rule—To create a custom rule, from the Home page, click Navigator Navigator icon, and then under Create and Manage, click Currency Conversions. For Currency, enter the reporting currency. Then enter the Scenario, Version Type, and Version details. Specify the Years for which you want to calculate the currency conversion rule. Click Save. To launch the rule, from the Home page, click Rules. To the right of the business rule, click Launch.

      Note:

      If you've enabled currency calculation based on the scenario time period, you cannot specify Years and you can only specify one Scenario.

    Note:

    The behavior of the currency conversion script (whether to honor calculate currencies based on scenario definition) is dependent on the application setting at the time of script generation. See What Application and System Settings Can I Specify?

Tutorials

Tutorials provide instructions with sequenced videos and documentation to help you learn a topic.

Your Goal Learn How
Learn how to automatically translate data to reporting currencies in Planning forms. tutorial icon Automatically Translating Data to Reporting Currencies in Planning