How to Set Up Interim Currencies

Currency Exchange Rates are the basis for the application to calculate Common Currency and Interim Currency numbers. It's important to enter the correct exchange rates for a currency type, scenario and company combination. If exchange rates are not entered for the Interim Currency company, the application populates the Common Currency numbers as part of Interim Currency in reports.

Complete the following steps to setup Interim Currency:

1. Create interim currencies.

2. Map interim currencies to companies.

3. Make sure currency exchange rates are inputted against interim currencies for all appropriate currency types.

4. Run the Consolidation Process. Once the Consolidation Process is run, only then will data be posted against the Interim Currencies.

5. Process the reporting cube and validate the data in reports.

The example below provides a calculation for Interim Currency:

USD = Common Currency GBP = Local Currency EUR = Interim Currency

1 GBP = 1.4119 USD = A

1 EUR =1.2661 USD = B

1 GBP =1.11515678 Euro = A/B

960.18 GBP X 1.115157 = 1,070.75 correct amount in verify data as Interim Currency