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Bid Rate, Mid Rate, Ask Rate

Former Member
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Dear Experts

I have one question about the exchange rate.

I understand that I can use the only "Mid Rate" in the analytic report,

But, I'd like to use the other rate from Business Analytics. For example, "Bid Rate" or "Ask Rate"

Is it possible to use the other rate in the "Business Analytics"?

Please give me some advice.

Regards,

Ichida

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
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Ichida,

To have those rates available in the system follow the steps below;

1. Go to Business Configuration-->open activity list-->show all activities--> Exchange rate type--> Add Mid rate, Bid rate and Ask rate and Save.

This will make available for use.

For more information, go to help center type in Exchange rate type.

Hope this helps.

Regards,

Emeka

Former Member
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Hi Emeka

Thank you for your advice.

But, I don't know how to display the rate I've defined in BI report.

Could you tell me how to display it in BI report.

Regards,

Ichida

parveen_kumar6
Advisor
Advisor
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Hello Ichida

The Rate type(Bid, Mid or Ask) and the exchange rate type can be configured in the Currency Conversion Profile at the transactions. In the Currency Conversion profile, you basically define the rate type and date to be used for each Business Transaction type for the currency conversions.

You assign the Currency conversion profile to your Company and set of books combination. But I believe the rate type can be configured for each transaction type and then by default reports would display the data using the Exchange rate type configured for each transactions in the Currency Conversion profile.

I am not aware of any settings to change the Rate type in the Analytics.

Thanks

Parveen Kumar

Former Member
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Ichida,

I hope Parveen has answered your last query. Which report are you trying to run, so I can test it and give you more guidance.

Regards,

Emeka

Former Member
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Ichida,

When you are done configuring your currency conversion profile, go to edit Exchange rates under General Ledger to set exchange rate and activation date for Bid, mid and ask rates.

Regards,

Emeka

Former Member
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Hi Emeka

Thank you for your support.

I'd like to use the follwing standard report.

Please give me some advice.

Expense Reports - Expenses and Reimbursements

Regards,

Ryota ichida


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Hi Ichida,

In the mentioned report you would like to select this the exchange rate type and not only the "Display Currency" and "Display Currency - Conversion Date". This is not possible. Currently per default always the same type (I believe it is the middle rate) is taken.

The conversion takes place as per date provided in the selection.

When you have e.g. your local SOB with EUR, the expense report of 100 USD was posted in the SOB with 79,18 EUR as local currency (this value stays).

When you call the report today and display in EUR with yesterday's rate, you would see 78,89 EUR, because the rate has changed. Tomorrow or the day before you have a different rate.

There is no mechanism, that the transaction date is considered. And there is no way to change the type of the conversion with configuration.

Best regards

Marlene

Former Member
0 Kudos

Ichida,

The Expenses and Reimbursements report display currency conversion rate is dependent on the active bid, mid and ask rate in the system. So for example if you have a different rate in September 2014 and want to run a report based on the September rate and you have the rate in September 2014 set up in the (GL- Edit Exchange rate) and it was active in that period. What you have to do is to chose the Display currency conversion date as the September date as on the screenshot below and the system will use the active exchange rate in September for currency conversion on the report displayed.

Hope this answers your query.

Regards,

Emeka

Answers (0)