8 Replies Latest reply: Jun 6, 2013 8:36 AM by KostasN. RSS

    How to load data to <Parent Currency> in HFM

    user10394539
      Hi All,

      We have a req in which 10 year historical data in USD is given to us(old application has only US entity).. In my new application we have entities and currencies in USD , NZD , AUD , INR etc. I tried loading data to <Parency Currency> which is in USD but it is giving me error as cannot load data since it is not an input cell...


      How can I load data and d o the reverse translation in HFM ..Please guide me...
      I am new in this area...



      Thanks in advance
        • 1. Re: How to load data to <Parent Currency> in HFM
          user10394539
          Hi Kostas,,
          Can u pls help us?
          • 2. Re: How to load data to <Parent Currency> in HFM
            KostasN.
            Hi,
            First of all, loading 10 years of historical data may be a very tedious task on its own, especially because during a long period like this, a lot of changes may be in effect from year to year like chart of accounts, mappings and so on. You realize how much effort might be necessary to reconcile 10 years of data, before even considering to change to local currencies. Therefore, first think about minimizing the individual periods of historical data that you will load. You will need to negotiate on this with your client.

            Now, regarding changing to local currencies. A fairly simple solution would be to setup entities with their normal default currencies and historical data to translate with historical rates = 1. Yet, this is not applicable as soon as you need to carry forward balances from previous years. Then this will produce incorrect currency translation adjustments (CTAs) at least for the first year of change from rate = 1 to normal rates.

            Alternatively, you could load historical data as journals in <Parent Curr Adjs> though you would again face issues with balances carried forward during the first year of loading in <Entity Currency> and translating using the normal rates.

            Finally, another way which involves some considerable work on the side of your client is to ask them for historical data in local currencies, which they might reverse translate in order to obtain. Then you load this data normally in <Entity Currency> and follow the normal flow that you would do with current data.

            I'm afraid there is no clean trick that you can apply here. You have to evaluate your options in terms of effort, both yours and your client's and definitely reduce the number of historical periods to load. I believe that it is your client's decision to evaluate their priorities among the effort to commit to the project, price to pay to consultants and time to start benefiting from the project against the benefit from preserving a certain amount of historical data.

            Regards,
            --Kostas                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
            • 3. Re: How to load data to <Parent Currency> in HFM
              user10394539
              Thanks for ur reply Kostas...will defenitely inform client on teh concern
              • 4. Re: How to load data to <Parent Currency> in HFM
                user10394539
                Hi Kostas,,


                Is there a way by which i can copy the data from <Parent Currency> to <Entity Currency> in HFM?

                I just tried the following option:

                For eg: For entity NZ , i have changed the def currency to USD and loaded data(data is available @ <Parent currency> as well as <Entity Currency>. Then again changed the def currency of NZ as NZD, and loaded the metadata...This time USD data is available @ <Parent currency> but not @ <Entity Currency>.

                Is der a way i can copy the data to <Entity Currency>from <Parent Currency> after the metadata change????
                • 5. Re: How to load data to <Parent Currency> in HFM
                  KostasN.
                  Hi again,
                  I'm not sure where you may be led with this experiment that you do, so I will limit my answer to your copy data question. I would use SmartView to extract data from <Parent Currency> column, with base members selected for all other dimensions, then copy-paste data into the <Entity Currency> column and submit.

                  --Kostas                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                  • 6. Re: How to load data to <Parent Currency> in HFM
                    user10394539
                    Hi Kostas ,

                    It seems like client just wanted to load hist data in HFM...They are not doing any adjustments etc....They want to load data in USD rather than local currencies @<Parent Entity> .They are not bothered on the value @<Entity Currency>


                    As trial, I loaded a data file in the below format into a grid...with rates as 1 and done trans and consolidation.


                    !Column_Order = Scenario, Year, Period, View, Entity, Value, Account, ICP, Custom1, Custom2, Custom3, Custom4

                    !DATA
                    Actual; 2013; January; Periodic; NZ; <Entity Currency>; 109150; [ICP None]; [None]; [None]; [None]; [None]; 10000
                    Actual; 2013; February; Periodic; NZ; <Entity Currency>; 109150; [ICP None]; [None]; [None]; [None]; [None]; 10000


                    Is this fine?
                    • 7. Re: How to load data to <Parent Currency> in HFM
                      GCAPO
                      Can you translate in the old application, use Extended Analytics to export the resulting EUR, etc? Then load to the new application (Eur will automatically load to <Entity currency> if the entity's default currency is EUR).
                      • 8. Re: How to load data to <Parent Currency> in HFM
                        KostasN.
                        As soon as your client is happy with the result, I don't see a reason why it might not be fine.

                        Regards,
                        --Kostas