Consolidated Exchange Rates on Saved Searches

Patricia Rose Ortua-Oracle

According to SA 7752, "Transaction saved searches that include values calculated based on consolidated exchange rates may not match the general ledger impact of these same transactions. The values in the saved search are translated to the base currency using the selected consolidated rate type."

Per SA 7762, "You can select the consolidated exchange rate type for transaction advanced searches and saved searches. The Results sub-tab for these searches includes a Consolidated Exchange Rate field with the following options:

• Average – Uses the average consolidated exchange rate type between the transaction subsidiary and the context subsidiary for the period in which the transaction occurred.
  
• Current – Uses the current consolidated exchange rate for the date or period selected to filter the search or custom KPI results, if any. Any date filter can determine the consolidated exchange rate applied to the amount fields, and the latest date takes precedence. If both a date and period are selected, the period takes precedence.
  
  If no period or date is selected, the current rate for the date you run the search or custom KPI is used.
  
• Historical – Uses the historical consolidated exchange rate for the period in which the transaction occurred.
  
• Per-Account – Uses the general rate type selected for each transaction's account, either average, current, or historical.
  
  This option is the default. With this option, different consolidated exchange rate types may be used within each set of search results.
  
• None – Uses the transaction subsidiary’s base currency. No consolidation occurs. Translation to the subsidiary’s base currency uses the transaction currency exchange rate."

THREE-STEP RECALCULATION:

• STEP 1: Get the Base Currency Balance:
  1. Open the affected transaction
  2. Navigate to GL Impact sub-tab
     
     
• STEP 2: Identify the Applicable Consolidated Exchange Rate
  
  1. Navigate to Lists > Accounting > Accounts
  2. Click View beside the affected account record
  3. Take note of the General Rate Type
     
  4. Navigate to Lists > Accounting > Consolidated Exchange Rates
  5. Set filters as follows:
     1. From = (Transaction Subsidiary)
     2. To = (Consolidating Entity/Root Parent being checked)
     3. Period = (Period being checked)
        
        
• STEP 3. Multiply the Subsidiary-level Account Balance by the Applicable Consolidated Exchange Rate