Enabling Weighted Average Feature

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 8-8 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
  Weighted Average FX Rate Override
  NIBT FX Rate Override - NIBT Tax Account Only
  Calculated Weighted Average FX Rate for NIBT
  Weighted Average FX Rate Override for NIBT
Highest Priority Historical Amount/Rate Override - Book Accounts Only

See the following topics: