** DeveloperWorks - ProvenPractice ** How to use Historical Rates

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In this function you can enter the historical rates as fixed values in group currencies. The register is used to provide historical values in converted currency for movement accounts, for example, accounts for the issue of new shares or for some other account that requires a historical rate. Due to the fact that they will be entered in movements, they will be transferred automatically to the OB of next year thanks to the reconcile (J code) and the currency conversion (I code) settings in the account structure. If ever you enter historical values on main account (no use of movements) you can use Group/Copy/Historical Rates Between Periods to copy the historical values from one period to another.

Note: Currency conversion is performed from local currency to all currencies included in the chosen consolidation structure. To keep the relation of historical rates all the way up in the consolidation structure, you have to enter historical rates for all group and sub-group currencies in the structure. You may have to add several records for the same item. Currencies not entered in the register of historical rates will be converted from local currency using closing or average rates. If the company is connected to more than one consolidation structure, you must enter historical rates for these currencies as well. Be aware of the fact that a very detailed set up of historical rates (for example, historical rates on extended dimensions or on journal numbers) will make the analysis of converted amounts more complicated. On the other hand, when you enter historical rates for G coded accounts it is important to enter historical rates at the appropriate detailed level.

Note: It is possible to enter historical rates directly when entering company journals.