3 Replies Latest reply: Oct 13, 2013 3:24 PM by DanyB RSS

    Specific translation for an entity

    DanyB

      Hello,

       

      I have a new entity that's been created in September that needs to be translated using specific rates, and I'm wondering how to do that. I tried entering different rates for the entity using the V#<Entity Currency>, but HFM is still using the default rate entered in E#None.V#None.

       

      The hierarchy goes like this:

       

      Entity A (in CAD)

           Entity B (in USD)

                Entity C (in USD)

                Entity D (in USD)

       

      Entities C and D are my base entities, so I tried putting the rates in there, but it doesn't work. I'm thinking I should put the rates in Entity B, but I can't (at least not while using V#<Entity Currency>).

       

      Can anyone help me with this?

       

      Thanks!

        • 1. Re: Specific translation for an entity
          Thanos A

          Hi there,

           

          Based on your hierarchy, the translation will be done on entity B because on node A.B the parent currency is different from the entity currency

           

          I have not do this before, but have you tried to populate the currencies of entity B via a rule which will copy the rates that you will have input to entity C?

           

          Regards,

           

          Thanos

          • 2. Re: Specific translation for an entity
            jrodgers

            Hi

             

            We use the UDA field to flag specific accounts to use specific rates, but I *think* you could apply this to entities as well

             

            Our routine goes as follows

             

            Sub Translate()

            'This script translates UD1 specified Balance Sheet accounts using historical override rates

            If HS.Entity.UD1("")= "FXType1" Then

            'HRate1 = HS.GetRate("A#HISTRate1")
            ' AccList = HS.Account.List("","UsesHISTRate1")
            ' For each Acc in AccList
            '
            '  HS.Trans "A#"& Acc&".C4#", "A#"& Acc&".C4#", HRate1, ""
            '
            ' Next

            HRate2 = HS.GetRate("A#HISTRate2")
            AccList = HS.Account.List("","UsesHISTRate2")
            For each Acc in AccList

              HS.Trans "A#"& Acc&".C4#", "A#"& Acc&".C4#", HRate2, ""

            Next

             

            etc

             

            JPR

            • 3. Re: Specific translation for an entity
              DanyB

              Hi Thanos,

               

              After a couple of unsuccessful tries, I was finally able to get the job done by using your suggestion. I had to create a currency account that can consolidate, and then with the rules populate that account with the rate input in Entity C. Once the consolidation runs through Entity B, the rate in my temporary account is copied into the default currency account, and then HFM uses this new currency rate to translate Entity B.

               

              Thanks for the suggestion!

               

              Dany