1. Implementation Guide
  2. Globalization
  3. Manage Currencies

Manage Currencies

Within Merchandising, currencies and rates are maintained to support conversions between different currencies where there is need for multi-currency operations. Updates to currencies can be made through spreadsheet download and upload processes. These processes are accessed through the main Merchandising task list under Foundation Data > Download Foundation Data and Foundation Data > Upload Foundation Data.

To add or update currencies, you will select the template type of Finance Administration from the Download Data screen and then the template Currencies. Click the Download button and when prompted, choose to either open the .ods file that is generated or save the file and open it separately in the spreadsheet application of your choice. Once opened, there will be three sheets that can be modified - Currencies, Currency Translations, and Current Exchange Rates.

Add a Currency

To add a new currency, start in the Currencies tab, and, in a blank line in the template, select the action type of Create. Next enter a unique currency code (should be a 3-character code), and then enter the description for the currency in the primary language (as defined in the Merchandising system options) of up to 120 characters. Next, the Currency Cost Format and Currency Retail Format must be entered. These columns contain the display format mask for cost and retail values displayed in the application screens for this currency. Finally, enter Currency Cost Decimal and Currency Retail Decimal values to indicate how many decimal values should be displayed in the application screens for this currency. The decimal values also determine what precision cost and retail values should be stored at in the stock ledger.

If you wish to add translations for the currency in languages other than the primary language, this can be done in the Currency Translations tab. Navigate to a blank row and select the action type of Create and the language in which the translated description will be entered. Then, enter the currency code for which the translation applies. Finally, enter the translated description. The translated description can also be up to 120 characters long. This is an optional step.

Finally, exchange rate details must be defined. Navigate to a blank row in the Currency Exchange Rates tab and select the action type of Create. Enter the from and to currency codes and a date the rate is effective from, using the DD-MON-YYYY format. Select an Exchange Type value and enter an Exchange Rate. While currency rates are normally maintained by the financial system and interfaced into Merchandising this capability to maintain them manually also exists.

Note that different rates may be defined by Exchange Type but at a minimum a rate must be defined for either the Consolidation or Operational types, as determined by the system parameter for "Consolidated Exchange Rate". If the Consolidated Exchange Rate is being used, then an exchange rate must be defined for the Consolidated exchange type, otherwise an Operational rate must be defined.

Update Currencies

If you would like to update any details for existing currencies, a similar process will be followed as that described above for creating new currencies. First, download the spreadsheet, and then navigate to the tab where you would like to make your updates.

The following columns can be updated in each tab:

  • Currencies - Currency Description, Currency Cost Format, Currency Retail Format, Currency Cost Decimal, and Currency Retail Decimal

  • Currency Translations - Currency Description

  • Currency Exchange Rates - no updates are allowed on this tab. To update the exchange rate for a currency code a new row must be added with a future effective date.

In the tab where you are going to make your updates, select the action type of Update, and then correct the value in the spreadsheet.

Delete a Currency

Existing currency codes, translations, and rates can all be deleted by selecting the action type Delete in the row you wish to delete. However, a currency code cannot be deleted if it is referenced elsewhere in Merchandising, such as on a Purchase Order.

Upload Changes

For all actions defined above, once all the updates have been made to the data in the spreadsheet, save the file and close it. Then, return to the Merchandising screens and select Foundation Data > Upload Foundation Data from the main task list. In this screen, select the template type Finance Administration and the template Currencies. This will generate a process description automatically, but this can be updated if desired. Lastly, select the Browse button and navigate to the directory where you saved the updated spreadsheet.

To review the status of the upload and check whether any errors occurred, select the Foundation Data > Review Status task from the main task list.

For more information, see "Download/Upload Data from Spreadsheets" in the Oracle Retail Merchandising Do the Basics User Guide.