Reporting Currency Use Case

Set up a Reporting Currency to calculate all Profit and Loss (P & L) accounts using a Year-to-Date rate (same as the Balance Sheet).

Company KLMZ is implementing Planful. Their general ledger is set up to convert local currency to common currency on a year-to-date (YTD) basis. So, in June, all YTD data is reversed at the prior month exchange rate and then reconverted at the new rate for June.

1. Set up a reporting currency using the Segment Hierarchies page (steps provided above).

   

2. Select the hierarchy and click Add to select Rollup Node and Rollup Member.

   

3. Enter a name for the member and click OK. In this case, the new member is named AAMCO.

   

4. Select AAMCO in the hierarchy and click Add.

5. Select Leaf Node - Leaf Member and click Add.

   

6. Enter a name and code and select segment properties.

   1. Select the Currency Type which is YTD. This was set up on the Currency Type screen (Maintenance > Currency > Currency Setup).

      

   2. Select Yes for Currency Exception.

   3. Click Save.

7. Access the Currency Exception page by navigating to Maintenance > Currency > Currency Exception.

8. Select the AAMCO Reporting currency as shown below.

   

9. Click Add. Select the company for which you want to define the exception for and click Add.

   

10. Select the Currency Exception for the Dallas Distribution Center company.

11. Click Copy To to map all of the P & L accounts to the company (in this example it is the Dallas Distribution Center). Click Save once all account are mapped.

    

12. Load exchange rates to convert the currency as needed for a selected scenario and year.

13. Run the Consolidation Process on that scenario to update all of the exchange rates.

14. In reporting, select the new Reporting Currency. The result will be that all P&L accounts will be translated on a YTD basis.