Currency Conversion process
The Currency Conversion process converts data from the source currencies to target currencies. Currency conversion occurs within the main model but must obtain data from the Exchange Rate model. Therefore, you should run an Update Model process on both models before running Currency Conversion.
Note: The Currency Conversion process converts leaf members only.
Best Practice: It is recommended that this process be followed by an Update Model process.
Model tab
- Description: Optional. Up to 250 characters.
- Target model: Select the target model, which is your FP&A Plus model.
- Input currency member property: Select the member property that associates the Organization/Entity members to source currencies.
- Exchange rate account member property: Select the member property that associates the accounts to exchange rates.
- Exchange rate model: Select the Exchange Rate model.
Conversion Parameters tab
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Target Model Properties: Select one member for Entity, Version, Reporting Currency (the currency to which you want to convert the source currency), Start Period and End Period.
Note: The process converts leaf-member data of the Entity member you selected. For example, if you choose the non-leaf member, Europe, the process will run on all leaf descendants of Europe.
- Conversion Modeling Assumptions: By default, the Exchange rate version, Exchange rate start period, and Exchange rate end period are the same for the Exchange Rate
Advanced tab
- Store applied exchange rates in target model: Select if you want to copy exchange rate data values into the model.
- Store converted results in a different version in the target model: Select if you want to store the converted values in a version different from the version you obtained the source data from.
- Copy 'native' data: Select if you chose to store the results in another version and you want to copy the source data to the version containing the converted results.