Change Functional Currency
From: Jakubowsky, Sandra [SMTP:JAKUSR@comfort.com]
Sent: Thursday, October 14, 1999 11:17 PM
To: Multiple recipients of list
Subject: Foreign Currency
We currently have multiple companies using the Functional Currency of USD
and have only processed transactions in USD. Two companies would like to
start transacting in CAN. Please offer any insight on possible set-up and
issues that we need to consider.
Thank you.
Date: Fri, 15 Oct 1999 01:27:42 -0400
From: Steve Harper steve.harper@pragmatek.com
To: "'oraapps-l@cpa.qc.ca'" oraapps-l@cpa.qc.ca
Subject: RE: Foreign Currency
Sandra,
It depends on whether the companies want to do all of their bookkeeping in
CAN (perhaps necessitating a separate set of books or a separate Reporting
Currency (V11 only) or whether they only want to do some of their
transactions in CAN (simply being treated as a foreign currency
transaction). If the case is the latter, you need to determine whether the
volume of transactions is enough to justify the work of monitoring and
valuing exchange rates on a daily basis or whether you can deal with
monthly monetary valuations.
Oracle offers the following capabilities:
1) Different set of books -- Basically you want to choose this option if
you want most (if not all) of your transactions being conducted in a
different functional currency. Key question: What currency do you want to
use for your Income Statement and Balance Sheet.
2) Different currency for any specific transaction. Oracle provides an
easy way to select a different currency for any given transaction with the
translation into the functional currency based on spot, user-defined, or
corporate (average monthly) rates.
3) Multiple Reporting Currency -- Requires you to book each transaction
twice -- once in the functional currency and once in the reporting
currency.
Bottom line -- how much of the activity is in CAN and how much is in USD.
If the majority is CAN, consider options 1 or 3, otherwise consider option
2.
Steve Harper
PRAGMATEK Consulting Group, Ltd.
Date: Fri, 15 Oct 1999 22:01:05 PDT
From: "ravi chandran" johnny_ravi@hotmail.com
To: oraapps-l@cpa.qc.ca
Subject: RE: Foreign Currency
Sandra,
Release 11 has the MRC feature. By defining any number of secondary set of
books with different currencies you can get reports accordingly. In your
case you can define your primary books in USD and secondary books in CAD &
this will be enable you to get the reports in the manner you desire.
Choosing CAD or USD in primary set of books depends on your operation. You
have to specify the exchange rate applicable for conversion whether it is
corporate, user etc.
Ravi
Date: Sun, 17 Oct 1999 19:39:00 -0700
From: "Mohan Iyer" miyer@fortuna.com
To: oraapps-l@cpa.qc.ca
Subject: RE: Foreign Currency
You will need to define different Sets of Books for those who want to
perfomr transactions in CAD.
Then for reporting purposes you will have to translate and consolidate the
before you can get reporting for all your companies in USD.
Thanks,
Mohan Iyer
Financials Consultant
Sunnyvale, CA
Interface Table mapping
From: Bill Keenan [SMTP:billek@ccai.net]
Sent: Friday, 15 October 1999 14:38
To: Multiple recipients of list
Subject: GL_INTERFACE Reference Columns
Hi All,
I am trying to map the Reference Columns in the GL_INTERFACE Table to the
actual fields in the General Ledger they are associated with, and am not
sure where to look. I have the following columns mapped, but forget
where
I
got this information:
Reference1 = Batch Name
Reference4 = Journal Name
If anyone could send a list of the references and which fields they map
to,
or let me know where I can find this information, I would very much
appreciate it.
Thank you,
Bill
Date: Sat, 16 Oct 1999 11:40:33 -0400
From: Ken.Eaton@dankasi.com
To: oraapps-l@cpa.qc.ca
Subject: RE: GL_INTERFACE Reference Columns
Here's some information we received in a reply to an open TAR:
Opinions expressed here are my own and as such
are not necessarily those of Oracle Corporatio
AP to GL Posting : references (Please click here)
MRC Reports - currencies mixed up
From: oraapps-l@cpa.qc.ca [mailto:oraapps-l@cpa.qc.ca]On Behalf Of Larry
Scheurich
Sent: Thursday, October 14, 1999 8:00 PM
To: Multiple recipients of list
Subject: MRC question
Folks,
I have been experimenting with MRC on the Vision demo database.
I am using
the MRC Reporting set of books to view transactions. When I run
inquiries,
I was expecting to see the amounts in the currency of the set of books
(reporting) that I'm in. However, they show up in the currency of the
primary set of books. I opened the currency folder to see the translated
amounts, but they are showing up blank (I was expecting to see translated
amounts). Can anyone point me in the right direction to see the
translated
amounts? I know it's something I'm doing wrong.... :-)
Date: Sun, 17 Oct 1999 19:38:57 -0700
From: "Mohan Iyer" miyer@fortuna.com
To: oraapps-l@cpa.qc.ca
Subject: RE: MRC question
Seems that something is fundamentally wrong with the setup.
Hae you gone through the steps of defining Reporting set of books,
assigning it to the Primary and then defining conversion options. It is also
very strange that you see the transactions in the same currency as you have
entered them. This might also be because of the incorrect Responsibility.
I have been involved with an MRC implementation that is live, and can help
you.
Can you let me know what are the setup steps you are using??
Have you defined your own set of books or are you using the ones defined in
the Vision Database?
Let me know and I probably can help.
Thanks,
Mohan Iyer
Financials Consultant
Sunnyvale, CA
Date: Sun, 17 Oct 1999 21:50:10 PDT
From: "ravi chandran" johnny_ravi@hotmail.com
To: oraapps-l@cpa.qc.ca
Subject: RE: MRC question
Hi!
you have not assigned the secondary set of books to the primary one and
defined the exchange rates. check in the set of books option whether the
secondary set of books is assigned.
Ravi
Change in Calendar - Query 2
Date: Tue, 19 Oct 1999 11:58:44 -0400
From: "Nandakumar" nkumar@se-tech.com
To: "Mail List" oraapps-l@cpa.qc.ca
Subject: GL calendar
We are currently on a calendar that begins Nov 1 and ends Oct 31. we plan to
move to calendar year (jan-Dec) in 2000 and I wanted to understand how best
to handle the months of Nov/Dec of the current calendar year. I was thinking
of adjusting periods but these apply only to GL and no journals from
Inventory etc can be imported
Any suggestions would be appreciated
Thanks in advance
Nand
Date: Tue, 19 Oct 1999 18:47:24 +0200
From: "Sridhar RAO" sridhar_rao@salomon-sports.com
To: oraapps-l@cpa.qc.ca
Subject: Re: GL calendar
Hi,
Between 1st November and 31st December 1999 define as many periods as
allowed in
the calendar. If you have defined a maximum of 12 periods then probably you
can
define the periods as follows :
Period Num Period Name Start Date to End Date
---------- ------------ ---------------------
1 NOV-99 01-NOV-99 to 30-NOV-99
2 DEC-99 01-DEC-99 to 21-DEC-99
3 DEC22-99 22-DEC-99 to 22-DEC-99
4 DEC23-99 23-DEC-99 to 23-DEC-99
5 DEC24-99 24-DEC-99 to 24-DEC-99
6 DEC25-99 25-DEC-99 to 25-DEC-99
7 DEC26-99 26-DEC-99 to 26-DEC-99
8 DEC27-99 27-DEC-99 to 27-DEC-99
9 DEC28-99 28-DEC-99 to 28-DEC-99
10 DEC29-99 29-DEC-99 to 29-DEC-99
11 DEC30-99 30-DEC-99 to 30-DEC-99
12 DEC31-99 31-DEC-99 to 31-DEC-99 -- Adjusting Period
also
(probably)
There are some dummy periods defined from 22nd December to 31st December.
All the journal entries from 22nd December to 31st December should be
entered
under the period DEC-99.
You can use the descriptive flexfield in the screen 'Define Calendar'. In
this
descriptive flexfiled one attribute can be used to indicate that the
periodis
dummy period. Null value in this attribute indicates that it is a normal
period.
Even if there are some journal entries in the periods between 22nd December
and
31st December they can be handled, if you are not using standard GL reports,
by
putting a check on the attribute. If the journal entry is in a dummy period
then
consider it as in DEC-99.
If you can give the calendar information probably we can think of a better
method to handle this.
- sridhar
Date: Wed, 29 Dec 1999 13:48:07 -0500
From: "Nandakumar" nkumar@se-tech.com
To: "Mail List" oraapps-l@cpa.qc.ca
Cc: sridhar_rao@salomon-sports.com
Subject: GL calendar (contd.)
Thank you for your mail. My system is live and currently the period type
month = 12 periods. My FY 1999 ends on Oct 28th 1999
Earlier we were planning to continue with the current calendar format
(4/4/5)and end FY 2000 in Oct 2000. Now we feel that we will have 4/4/5
beginning Jan 1, 2000. So that leaves a couple of days in Oct and Nov-Dec in
limbo. We plan a year ending (FY 1999) in October 1999 and another year end
in Dec 1999 (calendar)to close out these two months
As per your suggestion I should:
(a) Create 12 {months} between Oct & Dec (64 days)
(b) Prefix it with identifier and open them
(c) The year would be 2000
(b) also create Jan-Dec for calendar year 2000 with correct dates. Only here
year will be 2001 but name will be Jan-00, Feb-00 so that users do not get
confused
I would like to know any drawbacks etc. in terms of user use, standard
reporting etc, that you may be aware of
Thanks
Nand
Revaluation, any connection to sub-ledgers
Date: Sun, 17 Oct 1999 11:18:05 IST
From: "Mark Liberman" liberman_mark@hotmail.com
To: OraApps-L@cpa.qc.ca
Subject: GL: Revaluation, any connection to sub-ledgers ?
The GL allows to reevaluate accounts that have transactions in foreign
currency to the functional currency.
We have a situation where some of the supplier's & customer's activity is in
foreign currency, and this activity goes to separate GL accounts. We would
like to reevaluate those GL accounts and on the same time reevaluate their
balances in the sub-ledgers, to keep them reconciled to GL.
How's that can be done ?
Thanks,
Mark
Date: Mon, 18 Oct 1999 14:10:49 -0500
From: "Puchniak, Stan" Stan_Puchniak@standardaero.ca
Subject: RE: GL: Revaluation, any connection to sub-ledgers ?
Hello Mark,
I do not understand your request. If you change the balance a customer owes
you, are they going to pay this new amount? It is likely that the customer
will only pay the amount they have been invoiced. You should have different
posting accounts for the different AR currencies. This facilitates the
revaluation of these accounts based on a month end rate. This action is
required by most accounting bodies that I am aware of. For reconciliation
purposes, we always reconcile in the functional currency. We invoice in CAD,
USD, GBP and NLG.
I hope this helps.
Stan
Date: Wed, 20 Oct 1999 12:10:16 IST
From: "Mark Liberman" liberman_mark@hotmail.com
To: oraapps-l@cpa.qc.ca
Cc: Stan_Puchniak@standardaero.ca
Subject: RE: GL: Revaluation, any connection to sub-ledgers ?
Hi Stan,
Thank you for your reply.
I'll try to clarify my question with an example:
functional currency CAD.
Customer invoiced 80 USD
System translated to 100 CAD
Invoice interfaced to GL
At month end I run revaluation in GL
Lets say 80 USD = 105 CAD (That's the actual customer's debt in the
functional currency)
But in AR the customer's balance is still 80 USD = 100 CAD
So, If I try to reconcile GL/AR in the functional currency
- there will be a difference !
But further more, the customer's debt in AR (in the functional currency) is
not accurate !
Thanks,
Mark
Date: Wed, 20 Oct 1999 08:10:41 -0500
From: "Puchniak, Stan" Stan_Puchniak@standardaero.ca
Subject: RE: GL: Revaluation, any connection to sub-ledgers ?
Hello Mark,
The information you provided is consistent with your functional currency
being USD and not CAD. The following should clarify the way Oracle will
treat this transaction.
Assume rate at the time of the transaction is 0.65 USD to CAD; and, month
end revaluation rate is 0.70 USD to CAD.
Transaction of $100 USD is $153.8462 CAD (1/0.65*100)
The revaluation of the GL balance is required to restate the month end
balance of non-functional GL accounts on the balance sheet (in this example)
in the functional currency. The functional balance of the transaction should
never change. You could even verify this by reconciling the "entered"
balance of the USD receivable account in the GL to the ATB in USD. This
should reconcile to the USD Aged Trial Balance from the subledger. We use
the Aged Trial Balance - 7 Buckets - By account. This shows you subledger
balances by receivable accounting flexfield.
Revaluation of $153.8462 CAD is $107.6923 USD (153.8462*0.65)
I know that this works for us. Our functional currency is USD and we invoice
in USD, CAD, AUD, NLG and GBP.
I hope this provides some clarification.
Cheers,
Stan
Date: Wed, 20 Oct 1999 13:47:18 -0400
From: sbradley@sprynet.com
To: oraapps-l@cpa.qc.ca
Subject: RE: GL: Revaluation, any connection to sub-ledgers ?
There are two ways for a "generic" financial system to perform revaluations
related to AR (and AP) subsidiary balances. One is to analyze all open
items in the subsidiary system, adjust the detail and pass this information
on to the GL in JE format. The other is to analyze the summarized
functional and entered balances for each currency in the GL and adjust the
GL functional balance only. Oracle does the later which is a faster
process.
When you look at the 2 methods and think about what is happening, you will
see there really isn't a need to change the detail receivable balance at the
invoice level. The reason is the new (revalued) receivable amount will not
be used in the receipt process to determine realized gain/loss. Realized
gain/loss is based upon the original functional receivable amount and the
deposit date exchange rate. The restated receivable amount resulting from
the revaluation adjustment is reversed in the GL and thereby offsets the
current period realized gain/loss. If you are trying to reconcile AR to GL
then run the Customer Balance Revaluation Report (R11). I'm not sure if
this exists in 10.7 or if it has been back ported.
Respectfully,
Steve Bradley, CPA
OASIS Consulting Group, Inc.
Office 404-352-8387
Fax 503-218-9747
Pager 888-912-2569
Date: Wed, 20 Oct 1999 20:34:00 -0700
From: "Mohan Iyer" miyer@fortuna.com
To: oraapps-l@cpa.qc.ca
Subject: RE: GL: Revaluation, any connection to sub-ledgers ?
Hi Mark,
Here is my take on the Revaluation piece.
The AR Balance when it was transferred was correct in your functional
currency.
However, when you revalue the account to which it was posted it will revalue
the balance in that account to the correct functional amount based on the
rate you specify it to use to revaluate. This would show up in your
financial statements as a true picture of your receivables amount (balance).
However, when the payment is made it will - for an example -say that it is
paid in the transaction currency. NOw when you post that to GL there may be
a difference in the amount that is going to be posted to the account and it
may either fall short or be more!
In this case the Gain/Loss account will get effected by the difference
because the change in the functional amount was due to the difference in the
Exchange Rate.
This is accepted accounting practice and the Gain/Loss is accounted as such
and should not be a problem.
In your example you are trying to ascertain the debt of the Customer in what
currency - probably you should do it in Transaction Currency and that is
what most of the AR reports would give you output in.
Thanks,
Mohan Iyer
Financials Consultant
Sunnyvale, CA
Date: Thu, 21 Oct 1999 08:39:40 -0500
From: "Puchniak, Stan" Stan_Puchniak@standardaero.ca
To: "'Mark Liberman'" liberman_mark@hotmail.com
Subject: RE: GL: Revaluation, any connection to sub-ledgers ?
Hello again Mark,
Unfortunately, I believe that I have been misleading you. The example that I
provided is applicable to "Translation" and not "Revaluation". We perform
both of these processes here and I was mixing one with the other. I
apologize for any confusion this may have caused.
Your assessment of the revaluation is accurate. The revaluation process
creates a reversing journal entry in the general ledger. Probably the
easiest way to perform a reconciliation of the account is to still reconcile
in your functional currency. I say this because my experience is that
occasionally a transaction in an incorrect currency is posted to a
receivable account used for a different currency. To reconcile the account
you could do the following:
ATB (functional) 1000
GL (revaluation) 1032
Less: revaluation -32
Adjusted GL 1000
I hope this provides some clarification.
Sincerely,
Stan
Deleting Journals
From: cshay@csc.com [SMTP:cshay@csc.com]
Sent: Wednesday, October 27, 1999 3:57 PM
To: Multiple recipients of list
Subject: Deleting Journals
Does anyone know how to delete imported, unposted journals in Oracle GL.
We are
on Rel 11.
Date: Wed, 27 Oct 1999 18:49:22 -0500
From: "Brower, Robert B. (Bruce)" BrowerRB@bv.com
To: "'oraapps-l@cpa.qc.ca'" oraapps-l@cpa.qc.ca
Subject: RE: Deleting Journals
In GL, to delete an entire batch of journals, do the following:
* Navigator/Set Up/Journal/Sources
* Select type of journal (for example, Receivables)
* Uncheck the "freeze journals" check box
* Save
Then,
* Navigator/Journals/Enter
* Find the batch (e.g., AR batch) you want to delete, Go to Enter
Journals window
* Select the unposted (AR) batch to be deleted
* From the Edit menu, select "Delete Record" and select Batch in the
small window
* Save
Then, recheck the "freeze journals" check box and save your work.