Enabling Weighted Average
The FX Rates Calculated Weighted Average form is created when it is enabled during creation of the application, or at a later time. To enable the feature, see the following procedures in the Administering Oracle Tax Reporting Cloud guide:
After the feature is enabled, the following are created in the Account dimension, under Exchange Rates
, and then TRCS_Weighted Average Rates
:
TRCS_Weighted Average FX Rate Calc
TRCS_Weighted Average FX Rate Override
TRCS_NIBT Weighted Average FX Rate Calc
TRCS_NIBT Weighted Average FX Rate Override
TRCS_TotalTaxExpenseNIBT
The FX Rates Calculated Weighted Average and the TRCS_NIBT FX Rates Override - WAR forms are available in the Library.
The order of precedence for the NIBT Account flows from the lowest to the highest priority, as follows:
Table 11-11 FX Rates Order of Precedence
Priority | Type of FX Rate |
---|---|
Lowest Priority | Global Average FX Rate |
Entity Average FX Rate | |
Calculated Weighted Average FX Rate - Tax Expense | |
Weighted Average FX Rate Override - Tax Expense | |
NIBT FX Rate Override - NIBT Tax Account Only | |
Calculated Weighted Average FX Rate for NIBT | |
Weighted Average FX Rate Override for NIBT - By user input | |
Highest Priority | Historical Amount/Rate Override - Tax / Book Accounts Only |
Historical Amount/Rate Override by Account / DS / Movement / MG / Product |
See the following topics: