Decision Hub Summary
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Decision Hub Summary

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Article summary

Decision Hub can be used for downloading of exchange rates. And, you can create profiles to configure the way you want exchange rates to occur for the currencies you select.

Profile - Decision Hub

Create profiles to configure the way you want exchange rates to occur for the currencies you select. For example, you might configure exchange rates to convert all Euros and British Pounds to U.S. Dollars based on the lowest price traded on the stock market for a particular period of time. Profiles allow you to define the currency and currency type structure once and reuse the design each month for updated rates. Profiles are created by scenario.

Note:
This functionality may be available based on your Planful license agreement.
  1. Navigate to Maintenance > Currency > Exchange Rates .

  2. Click the Profile tab.

  3. Select a Profile that you set up when you completed the Benchmark.

  4. Select Rate Type.

  5. Select currencies you want to map to the profile.

  6. Select applicable time periods. No processing of rates can be done between Friday 9pm to Monday 9 am based on your time zone.

Description of Fields on the Profile Page

Download

Open the Download page to export or save currency exchange rate profile details.

Profile

  • This list box is populated from the profiles defined on the Benchmark page. Select an existing profile or select Create New Profile.

  • On the New Profile page, complete the following fields:

  1. Name - Enter the name of the new profile.

  2. Scenario - Select a scenario. If you select Actual, you will be prompted to select a year for which the rates are to be applied. The years are determined by budget or forecast years for all other scenarios.

Note:
The budget/forecast years are defined on the Configuration Tasks page.

Scenario/Year/ Common Currency

Associated with the scenario selected when the profile was created.

Rate Type

Rate types help define the way in which you’d like the currency conversion to take place. Select one of the following options:

  • Mid – The mid-market rate or spot rate and represents an average of Bid and Ask

  • Bid - The last price offered to buy the currency.

  • Ask - The last price offered to sell the currency.

Available Currencies

Currencies mapped on the Currency Exchange Rate – Mapping page are available for selection. Select the currencies you want to associate with the benchmark profile and click the forward arrow to move the currency into the Selected Currencies pane.

Selected Currencies

Currencies available for the selected benchmark profile.

Note:
Select a currency you wish to remove from the Selected Currencies list and click the back arrow to remove it.

Select Time Periods - Currency Type

Click in the Currency Type field to modify the associated time value. Select one of the following:

  • AVG – Calculates the currency by averaging the sum.

  • BOY – Beginning of Year – Calculates the currency at the beginning of the year.

  • EOM – End of Month – Calculates the currency at the end of the month.

  • YAvg – Yearly Average – Calculates the currency based on the average sum over a year.

Select Time Periods - Start/End Dates

You can download exchange rates during the week only. More specifically, quotes are not updated between Friday 5pm New York time until Monday 9am Sydney time, as rates quoted during that time tend to have wide spreads due to low liquidity and do not accurately reflect the state of the market. When selecting time periods, please be sure to take this into consideration.

Mapping - Decision Hub

Map currencies defined in the Planful application with Decision Hub currencies. You may also map the Planful application currency types, which are used during the currency conversion process, to Decision Hub currency types.

Navigate to Maintenance > Currency > Exchange Rates and click the Mapping tab to access the Mapping page.

Note:
This functionality may be available based on your Planful license agreement.

Application Currency / Decision Hub Currency

Map (associate) the Application Currency defined on the Currency Setup page to the Decision Hub Currency.

Application Currency Type / Decision Hub Currency Type

Map the Application Currency Type defined on the Currency Type page to the Decision Hub Currency Type.

Select one of the following Currency Type options:

  • Single Date - Refers to Currency Types such as End of Month (EOM) or Beginning of Year (BOY) that refer to a specific date.

  • Date Range- Refers to Currency Types such as Average (Avg) or Prior Year Average (PYAvg) that require a range of days or periods to determine the appropriate rate.

Entity Locking

You cannot download a currency linked to a locked entity in Decision Hub. Additionally, the system will verify the period for which the entity is locked.

Currency for an entity is selected on the Hierarchy Management screen.

Entities are locked on the Lock Data page accessed by navigating to Maintenance > Reports > Lock Data and clicking the Lock Data tab.


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