Currency Conversion Menu
The information below refers to pcFinancials latest version.
pcFinancials r1.3
pcFinancials r1.2
pcFinancials r1.1
pcFinancials r1.3
pcFinancials r1.2
pcFinancials r1.1
If you need to execute the currency conversion, you need to update the rates for Budget.
In Epicor, Only the Rates for Actual are stored, so for the Budget you have to choose a destination Currency and enter the rates.
Two changes needed:
- To select what BaseCurrency you have for your system.
- Define BusinessRule (normaly None)
1. Setup Reporting Currency in Modeler
- Login modeler and your FP&A application
- Go to Currency dimension → CheckOut
- Tick the reporting currency you want
Update FxRate
Here users can validate Actual FxRate and update it.
Or users can update Budget/Forecast FxRate.
To be able to execute the currency conversion, you need to fill the rates for the Budget first.
- Admin_Tasks → Update FxRate
- Select Budget from Scenario
- Select your budget year. For example: 2016 from Time
- OK → Save Report → go to Admin folder → tick Save to library → Save to replace the current Fxrates file.
- Fill in your base currency as 1.000000.
- Click on Send button, then Refresh button.
3. Currency Conversion Method I
- Admin_Tasks → Currency Conversion
- Then press Run
3. Currency Conversion Method II
Or you can run it from Enter_Budget → Data Manager → Run Rules→ Canvas_FxTrans
- Click on OK
4. Verify the data gets converted
- Enter_Budget → Data Manager → Extract tab
Multiple Currencies per Entity/Book
Example 1
The above example:
- Account 1900 / 2017Jan / Budget, the orginal value is 416,6666667USD
Example 2
- Account 1900 has 3 currencies with different values.
- When try to see the total of Account 1900, it is not OK to add all three numbers together because they are in different currencies.
- So first we need to convert the other two currencies into the base currency USD.
- Then do the sum job.
- The total of Account 1900 is 1628 USD.