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Consolidation Definition Currency Conversion

Oct 25, 2016 at 10:19 AM

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The current set up we have in consolidation definitions is for currency set to GBP. Package data is input in local currency and pulled into consolidation. Currency conversion happens before any rules are run. However consolidation data can be viewed in both local and reporting (GBP) currency with rules executed.

Previous thought was that local currency was pulled into consolidation, translation done, rules run then output viewed in reporting currency only. This does not appear to be the case.

What does the currency selection on the general tab actually mean?

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Hi Helen,

What version and service pack of FC are you using?

Thanks,

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1 Answer

Marc Kuipers
Oct 25, 2016 at 06:11 PM
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Hello Helen

What you describe is correct and this has always been the case in FC

If you look in the consolidation tables of FC (ct_coXXXX) you will see 3 amount columns

Amount = original package amount (in currency of the unit of package)

Convamount = the converted amount (=package amount x exchange rate). This is in the currency you ran the consolidation

Consamount = consolidated amount. The amount after applying ownership (in scope). So, if you own an entity for 50%, this amount will be 1/2 of the convamount. This amount is also in the consolidation currency

Note: record that are created by rules will have no 'amount' as this data did not exist in the package. You can see that in the example below (the techorig will also indicate that these records are not from package data)

The consolidation currency that is defined in the consolidation, is what the 'amount' will be converted to

So, in example below, all values in 'convamount' (and consamount) will be in EUR

The 'amount' column will be in the local currency

Thanks

Marc


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