Different GL Accounting Currency

Until now, the system allowed you to create additional FT GL entries for a financial transaction in the CI_​FT_​GL_​EXT table when the financial transaction currency was different from the division's base currency. The system enabled you to create additional FT GL entries for a financial transaction in either of the following two ways:

• While freezing a financial transaction from the user interface

• While assigning a GL account to a financial transaction through the Assign GL Account to Financial Transaction (C1-GLASN) or Assign GL Account to Financial Transaction (GLASSGN2) batch

There might be scenarios wherein an organization might want to create additional FT GL entries in the GL's reporting currency which is different from the division's base currency. Oracle Revenue Management and Billing enables you to define local currency for a division. A new field named Local Currency is added in the Main tab of the Division screen. You must specify the local currency only when it is different from division's base currency. It is not a mandatory field. You can also add the division's local currency in the Invoice Currencies tab and define its rounding method for accurate calculations. A new field named Enable Local Currency is available while defining a distribution code. It provides the ability to enable the FT GL entry creation in the local currency for the required GL account.

Now, while creating additional FT GL entries for a financial transaction, the system checks whether the financial transaction currency is different from the division's base currency or division's local currency (if specified). If the financial transaction currency is different from the division's base currency and if the local currency is not defined for the division or if the financial transaction currency is same as the division's local currency, the system creates additional FT GL entries for the financial transaction in the division's base currency. If the financial transaction currency is same as the division's base currency but if the financial transaction currency is different from the division's local currency, the system checks whether the Enable Local Currency option is selected in the respective distribution code.

If the Enable Local Currency option is selected in the respective distribution code, the system creates additional FT GL entries for the financial transaction in the division's local currency. However, if the Enable Local Currency option is not selected in the respective distribution code, the system does not create additional FT GL entries for the financial transaction in the CI_​FT_​GL_​EXT table.

If the financial transaction currency is different from the division's base currency and division's local currency, the system checks whether the Enable Local Currency option is selected in the respective distribution code. If the Enable Local Currency option is selected in the respective distribution code, the system creates additional FT GL entries for the financial transaction in the division's base and local currencies. However, if the Enable Local Currency option is not selected in the respective distribution code, the system creates additional FT GL entries for the financial transaction in the division's base currency.

However, if the financial transaction currency is same as the division's base currency and if the local currency is not defined for the division or if the financial transaction currency is same as the division's local currency, the system does not create additional FT GL entries for the financial transaction in the CI_​FT_​GL_​EXT table.

Earlier, you were able to view the financial transaction amount in the division's base currency in the Financial Transaction screen whenever additional FT GL entry was created for the financial transaction in the CI_​FT_​GL_​EXT table. Now, depending on whether additional FT GL entry is created for the financial transaction in the division's base currency or division's local currency, you can view the financial transaction amount in the division's base currency or division's local currency, respectively, in the Financial Transaction screen.

To implement this feature, the following algorithm types are enhanced:

• FTFREZGLEXTN

• C1-GLCE

Now, these algorithm types provide the ability to create additional FT GL entries for a financial transaction in the GL's reporting currency (i.e. division's local currency).