User-Defined Rate Type to Generate Accounted Amounts for Agreement Based Intercompany Transactions

Generate accounted amounts in the ledger currency using a user-defined currency conversion rate type when agreement-based intercompany transactions are transferred to General Ledger or Receivables and Payables for invoicing.

You can now capture the rate type at the intercompany transaction level, allowing separate and mutually negotiated rate types and conversion rates to be applied for both provider and receiver sides of each transaction leg. 

Edit the agreement based on the intercompany transaction to update the currency conversion rate type and rates for the provider and/or receiver organization.

Intercompany Transaction UI

Use Accounting Preview UI to review the accounted amounts along with the rates that are used.

Accounting Preview UI

Business benefits include:

• Enhanced flexibility and accuracy of accounting by supporting the capture of user-defined rate types and rate for the generation of accounted amounts for agreement based intercompany transactions. This supports the use of specific negotiated currency conversion rates for fund transfers.
• Flexibility to leverage separate rate types for provider and receiver further enable organizations to conform to region-specific regulatory norms with respect to rate types especially for cross-border transfers.

Steps to Enable and Configure

Use the Opt In UI to enable this feature. For instructions, refer to the Optional Uptake of New Features section of this document.

Offering: Financials

Key Resources

Based on Idea 638463 from the Intercompany Idea Lab on Oracle Cloud Customer Connect.

Access Requirements

No new access requirements.