Currency Translation

Currency can be converted from one currency to another. This process utilizes the defined FX Rates in the FX Rates portion of the product. See Foreign Exchange Rates in Cubes for additional details.

The base Entity can be converted to the Parent Entity’s currency if required. The currency translation is run as needed based on the configuration of the Parent / child currencies as stored in the Entity Dimension. This feature can be run independently of a consolidation if required. Right-click in the appropriate cell and the translation option will display.

The Consolidation Dimension is shown above.  For example, if an Entity’s currency is Euro, and data is written to the EUR Member, that value is also displayed in the Local Member. The Local Member is a pointer to the appropriate local currency Member where the data is stored. If that European Entity in the screen shot above is consolidated to a company in the UK that has GBP as their Currency setting under Entities, when the European Entity is consolidated into the UK Parent, the European Entity’s Translated Member will reference the translated value which is stored under the GBP Member under Currencies.

Calculation Status determines when data was entered.  If the Local currency’s Calculation Status is CA because the data has not been calculated yet, then the foreign currencies would also need to be translated and calculated resulting in a TR calc status.  If a calculation is done on the Local Currency in order to make its calc status OK, the foreign currencies are still going to be TR because that data has not been translated or calculated yet.  Also, if a foreign currency has an OK calculation status, and a foreign currency journal is entered, that currency then becomes TR.