1. Working with Tax Reporting
  2. Working with National Tax Process
  3. Working with National FX Rates
  4. Reviewing FX Rates

Reviewing FX Rates

Using this read-only format, you can review Foreign Exchange (FX) rates for the Tax Reporting application. The values are displayed in decimal format.

For each currency used in the application, the following rates are displayed for each Period:

  • FX Rates - Opening
  • FX Rates - Ending
  • FX Rates - Average

If you want to modify any rates, you must navigate to the FX Rate screens through the Library or from the Configuration page.

Note:

Opening balance adjustment are translated using Fx Rates – Opening which is populated from Prior Year, P12, Ending Rate. Make sure to run Compute Rates in the prior year to generate Fx Rates - Opening in current year.

Opening Balance adjustment are translated using Fx Rates - Opening.


FX Rates tab of the National tax Provision screen

To view FX rates:

  1. Select one of the following options to view the FX Rates screen:
    • From the Home page, select Tax Provision National, then Package, and then FX Rates.
    • From the Home page, select Library, then Forms, then Tax Administration, and then FX Rates Review.
  2. Optional: To modify any of the rates, navigate to one of the following locations:
    • From the Home page, select Library, then Tax Administration, and then directly open one of the FX Rates forms.
    • From the Home page, select Application, then Configuration, and then Exchange Rates. This option opens the FX Rates Single Period form.