Enter historical rates

Complete the following steps to enter historical rates.

Procedure

  1. On the Group menu, click Data Entry/Historical Rates. The Data Entry - Historical Rates window opens.
  2. Enter the actuality and period for which you want to enter the historical rates.
  3. In the text boxes for Company, Form (optional), From Currency Code and To Currency Code, enter the selections for which you want to fill in the historical rates. Click the Open button. All accounts within the selected form using historical rates are displayed.
  4. To add a new record, place the cursor on the relevant account. Click the Copies the Selected Rows into the Clipboard button if you want to copy or click the Insert Blank Row(s) After the Selected Row(s) button to insert new rows.
  5. For Extended Dimension and Counter Company columns, enter the information required for each account.
    • Extended Dimension 1-4: If an account divided into extended dimensions should use the same historical rate for all extended dimensions, no information will be registered at the extended dimension level in the register of historical rates. If, however, the extended dimensions should use different historical rates, the ratio of rates must be registered at the extended dimension level.
    • Counter Company: The counter company where you want to apply the historical rates. If you register historical rates for specific counter companies, this means that the rate will only be used for currency translation of values registered to that counter company. For other companies the rate entered for the Account will be used, or if no such rate is entered the average rate (M), closing rate (B) or rules for currency translation code D will be used.
  6. The All Journal Types column is selected by default, which means that historical rates will be used for all journal types. If the All Journal Types column is not selected for the current account, you can define a journal type for which to use historical rates. Other journal types will be converted using the rate entered for the Account, or if no such rate is entered the average rate (M), closing rate (B) or rules for currency translation code D will be used instead. This information is optional.
  7. If applicable, enter the journal number of the journal for which to use historical rates.
  8. In the Currency 1 and Currency 2 columns, enter the nominal amounts used for calculating the historical rates as well as the currency converted amounts.
  9. Click Save.

What to do next

  • If you want to store all historical amounts on a fixed period, you can define this period and actuality in the general configuration, Conversion tab.
  • You should be aware of the fact that a too detailed set up of historical rates (for example on extended dimensions or journal numbers) will make the analysis of converted accounts more complicated. On the other hand, when entering historical rates for G coded accounts it is important to enter historical rates at appropriate detailed level. If you use journals the historical rates have to be entered at journal number level. If you use a more aggregated level to enter historical rates the matching against journals will go wrong and converted values will be miscalculated. This is also valid if you use accounts with extended dimensions or counter company.
  • In the Account column, all accounts that use historical rates (currency translation codes E, F or G), according to the account structure are displayed, with the exception of the accounts that have references to other accounts. If registered values are not specific enough and the system does not know what rate to apply for a certain item, B, M or D rate will be used. The rate chosen depends on how the account is set up in the account structure. Closing rate B will be used for accounts with currency translation code E, Average rate for the year (M), will be used for accounts with currency translation code F and accounts with currency translation code G will be converted according to the rules for currency translation code D.