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Adaptive Planning
Last Updated: 2023-06-23
Create a Quarterly Exchange Rate Type for Quarterly Accounts

Create a Quarterly Exchange Rate Type for Quarterly Accounts

Exchange rates are always entered at the GL accounts' time strata. For most organizations this means the rates are entered by month. Model dependent time lets you create accounts that use quarter as their default time strata (quarterly accounts) when your GL accounts are set to month. Having accounts at these different time settings may not produce the currency exchange rate results you expect.
The article explains how you can create a quarterly exchange rate type to select in all of your quarterly accounts so you get the currency exchange rate results you expect.

Prerequisites

New to currencies? See Concept: Currencies.
Security:
Currencies
 permission.

Navigation

Compass.png From the nav menu, select
Modeling
. From the Others menu, select
Currencies
.

Create Quarterly Exchange Rate

  1. Under
    Exchange Rate Types
     select
    Add New.
  2. Create an
    Exchange Rate Type
     with a code, abbreviation and name that clearly indicates it is for accounts other than your general ledger accounts.
  3. Provide a description that explains the use.
  4. Save.
  5. Select
    Enter Currency Exchange Rates.
  6. Within Exchange Rates sheet, enter the quarterly value in the last month of each quarter.
  7. Save
    .
  8. When creating an account, select the
    Exchange Rate
     type you created in step 3 that matches the time strata of this account.
Account Details for Quarterly Account with Quarterly Exchange Rate Type