Currency and currency rate management is done on two levels in the system:
•The currencies that are used in the entire system are specified on the system level.
•The period specific currency rates of the currencies that are used for different data types are specified on a yearly level. The desired currencies are selected from system currencies into currency tables that are used for the data types. Each data type uses a currency table, and the currencies included in the table are used for the input and reporting functions of the data type.
Several different settings determine how currency conversion is performed in the system. The basic rules for conversion are determined by account settings and currency table type. Other settings related to currencies and currency conversion include unit properties, input/report template settings, and input/report advanced options. In the following, there is a more detailed list of the settings.
The currency table management functions are available for users who have administrator rights.
•Accounts: The Currency Conversion setting for accounts defines whether the income statement, balance sheet or opening balance conversion method is used in currency conversion or if no conversion is done for the account. •Currency Tables: The Currency Type setting of currency tables defines a periodical or cumulative setting for the currency table. This setting only affects accounts which have Income Statement as the Currency Conversion option. •Input and Report Templates: The <currency> element in the datacolumn or area settings of the input or report template definition file defines the currency in which the data is shown. For more information, refer to Clausion Financial Performance Management Input and Report Template Parameters. Note that if the currency element is not defined, the currency of the selected unit applies if the value of the "amount" attribute (see in the following) is "unit", and the group currency if the value is "group". •Input and Report Templates: The "amount" attribute of the datacolumn > datafield > numeric element in the input or report template definition file defines whether the amounts in the column are in unit or group currency. If the currency element is in use (see earlier in this section), the value may be converted to a third currency or from unit currency to group currency. For more information, refer to Clausion Financial Performance Management Input and Report Template Parameters. •Input/report task Advanced Options: When the currency has not been defined in the template definitions, the user can select the currency in which they want the data to be shown (unit, group, or any currency available in the system) in the Advanced Options of the template (if available). •Exception in Transparent Reporting: Converting is possible in Transparent Reporting on document-level only for accounts which use the income statement conversion method and only with a periodical currency table. This means that converting is not possible if the currency table is cumulative, or if the account uses the balance sheet or opening balance conversion method. When documents are shown by periods, converting is always possible. |