1. Implementing Incentive Compensation
  2. Import Currency Conversion Rates

Import Currency Conversion Rates

You can manually import currency conversion rates into Incentive Compensation using the template available in Support document 2785163.1. You can also use the import to update conversion rates.

Set Currency Parameters

Using the Manage Parameters task in the Setup and Maintenance work area, set these parameters.

Parameter

Purpose

Transaction Conversion Rate Type

Converts base transaction currencies during crediting, rollup, and calculation processing

Collection Conversion Rate Type

Converts transaction amounts from one currency to another during collection

Payment Conversion Rate Type

Converts the payment transactions from one currency to another

Use the Manage Incentive Currency Conversions task in the Setup and Maintenance work area to create any company-defined rate types included in your import workbook.

Add Rates to the Import File

To populate the import files:

  1. Find the ICCurrencyConversionRateImportTemplate.xlsm file in Support document 2785163.1 and save it locally.

  2. Enter the currency conversion rates using the instructions and help included in the import file.

    The import process uses the default value Incentive Compensation Daily Rate for any empty Conversion Rate Type cell.

  3. Upload the file using the instructions in the first tab of the file.

Caution: The Import Currency Conversion Rates process fails if you reorder or remove columns in your import file.

Use a Separate File to Update Conversion Rates

You can import to make changes to existing conversion rates. Only the rate can be changed. Updates must be in a separate import file from an import for new conversion rates. Here's how to create your file:

  • In the Update Rate column, enter update for each row. Your file for adding conversion rates can leave this column blank or enter insert. The column is case insensitive.

  • Other than rate, the fields must contain the exact values of the existing rate. These include From Currency, To Currency, Conversion Rate Type, and effective dates.

If the rate you're changing has been used, then you need to reprocess any of the following that apply to use the new rate.

  • Transactions

  • Credits

  • Earnings

  • Payments

  • Transaction Import

Import the Currency Conversion Rates

Use the Import Currency Conversion Rates task in the Credits and Earnings work area to import the currency conversion rates. The Run All Transaction Processes task includes the Import Currency Conversion Rates process. The Run All Transaction Processes task imports any files uploaded to the ic/incentiveCompensationCurrencyExchangeRates/import Web Center folder.

Review Your Import Results

Use the View Process Logs task to search for and view your import results. Click the audit ID for the relevant process to open the Process Details page, which provides the log details for the parent and any related child processes. The details include the number of processed currency conversion rate records, which you can compare with the number of records in the source XLSM file. You can also use the Manage Incentive Currency Conversions task in the Setup and Maintenance work area to confirm that the rates match those of the source XLSM file.