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Indirect rates data conversion

in Financial Consolidation and Close 1 comment

Summary:

Indirect rates data conversion

Content (required):

The reporting currency of our application is USD. We have various currencies like GBP, CAD as our input currencies. We have data in our source system based on input currencies. To convert the GBP based data into USD, we have input exchange rates as 1 USD =0.5 GBP and then we ran the compute rates business rule through which we are able to view indirect rates as 1 GBP = 2 USD. But while running translation business rule we are not able to get the correct results,

for eq: we have entered 100000 GBP in cash account at input currency and post running the translation business rule by taking USD_Reporting, we received the outcome as 50000 USD, which is logically incorrect as the outcome should have been 200000 USD.

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