Setting custom currency exchange rates in bulk

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In IBM® Envizi ESG Suite, you can download a report template and populate it with your organization’s preferred currency exchange rates for currency conversion and cost reporting. You can then upload the report template to set the custom currency exchange rates in bulk. The custom rates are used in preference to the default Envizi ESG Suite platform rates.

About this task

The Setup Custom Currency Rates report template is in the Extract Reports Report category. You can use the report template to create or update currency exchange rate values for your organization. You can also filter across all applicable currency codes for a period to see which currency codes are missing custom rates.

You can also download and upload the Setup Custom Currency Rates report template in the Custom Currency Rates page. For more information, see Managing custom currency exchange rates.

Note the following points about the Setup Custom Currency Rates report:
  • The report exports one row per location, month, and currency code even if the currency rate does not exist. Therefore, the report highlights where custom currency exchange rate values are missing, and you can populate new rate values into the template.
  • By default, the report is run for a 12-month period, which extracts 12 currency rates for each currency code. You can run the report for up to five years.
  • The report retrieves only custom rates. If corresponding custom rates are not present, Envizi ESG Suite uses in-platform default currency exchange rates for currency conversions, as indicated in US Treasury Currency Exchange Rates. Run the Extract for Currency Rates report to see exchange rates that are in effective use, including both default and custom rates.
The following table describes the columns that are in the report template:
Table 1. Setup Custom Currency Rates report template columns
Column Label Description
A Organization The name of the target organization in Envizi ESG Suite.
B Year Month YYYY-MM Month in the format YYYY-MM, where each month is associated with one rate.
C Currency Code Three digits ISO currency codes. The list of supported currency codes are based on the collection of location region settings in your organization.
D Rate from USD to Currency Code A numeric value that can be used to convert 1 USD to the currency code. The rate value allows up to eight decimal places.

Procedure

  1. In the global search bar, search for the Setup Custom Currency Rates report.
  2. Click the report and, in the Run report dialog, filter by either All Currency Codes or a specific currency code.
  3. Submit the report, and then download, open, and edit the report extract:
    1. Filter the relevant currency codes and months that you want to update.
    2. Remove all other rows in the report extract so that they aren’t updated.
    3. Edit the values in the Rate from USD to Currency Code column:
      • To set a custom currency rate for the first time, enter a value to replace the blank field.
      • To update an existing custom rate, overwrite the existing value.
    4. Ensure that the month is formatted correctly.
      Provide all months in the format YYYY-MM. When you open the file, it might revert to your local date format based on region settings. Ensure that you reset the format of the month values to YYYY-MM before you upload the setup report.
  4. Save the setup file as an Excel file.
    Ensure that the file name starts with the prefix Setup_Custom_Currency_Rates, and append some relevant descriptive text to the name. The connector references a tab that starts with Setup, and it loads only data that is contained in a similarly named worksheet.
    For example, a valid file name is Setup_Custom_Currency_Rates_your organization name_FY24-25.xlsx.
  5. Upload the edited setup file:
    1. From the Envizi ESG Suite home page, click Manage > Upload Files.
    2. Click UPLOAD and browse to select the setup file.
    3. Click Save.
    Alternatively, you can upload the setup file by S3, sFTP, or email if a data service is provisioned for your organization through data flow automation.

What to do next

Verify that the currency rates data was added or updated:
  1. Click Manage > Files Processed - Accounts & Setup.
  2. Review the high-level loading status, and then right-click the file to view parse or load errors.
    Supported parse error checks include the following items:
    • Rows with blank organization, month, currency code, or rate are skipped
    • Rows with a currency code equal to USD are skipped
    Supported load error checks include the following items:
    • Invalid organization name.
    • Invalid currency code.
    • Invalid month value.
    • Currency code is not used in the organization
    • Duplicate month-currency code values. If the same month-currency code is duplicated within a file, the first instance is written. More duplicated rows are ignored and the file is processed.
  3. Run the Setup Custom Currency Rates report template again to extract a copy of the report that contains the newly created or updated rates. Compare the updated report in Excel against your source records to reconcile the upload.
Note: New files are picked up for processing every 30 seconds. It might take a few minutes for your uploaded setup file to be displayed in the Files Processed - Accounts & Setup page after it is picked up. If file processing fails because of a critical error, such as when the file name or organization name is incorrect, the file is not displayed in the Files Processed - Accounts & Setup page.

Connectors validate incoming files by analyzing the setup file name and extension, and the column headings in the file. If your file does not load successfully, check that the file format conforms to the standard that is outlined in the previous sections.

For more information, see Troubleshooting uploaded files.