Currency conversion

[Former Member]

Hi guys

I have only one question about Currency conversion business rule

lets me explain it with example

if i have GL 1000 For assets which has A clo rate type

and there is addition (movement flow F05) on this GL with 2000$

can i translate the amount 2000 (f06) with AVG rate ?

I mean do the business rule like below

ID = AVG

source flow =F06

Furmula = AVG

.....

[Former Member · Accepted solution]

Hi,

yes, of course you can do that. In the rule you need to specify the account and flow and for each combination you can define the formula.

You might have to think about calculating an FX difference though.

Technically, as we are talking about a balance sheet account, the final balance should be converted at the closing rate. So if you convert a specific flow at the average rate, you should calculate the FX difference on that amount on some other flow so that the total is again converted at the closing rate.

BR,
Arnold

[Former Member · Accepted solution]

so what if i have GL Acc called 1000 for assets that has Rate type CLO

and i have 2 business rule

one for CLO

and other FOR AVG

in the CLO i told the system to translate all flows using clo

in the AVG i told the system to translate a specific flow on the GL 1000 by AVG

this will doplicate the value

it will be translated one by AVG and other by CLO

[Former Member · Accepted solution]

HI,

you need to amend the CLO rule. In the rule you can specify how data is converted depending on the flow used.

As an example of CLO using different formulas for different flows.

BR,
Arnold