Enter historical rates or amounts for translating actual and budget account balances. You can enter rates for any foreign currency you have enabled.
You can assign historical rates to accounts, either individually or by range. Generally, you enter historical rates only for specific balance sheet accounts. For example, you can use historical rates to translate non-monetary and selected owners' equity account balances.
Note: Usually, if you are performing translation, enter historical rates only for owner's equity accounts. If you are performing remeasurement, enter historical rates for owner's equity accounts as well as for non-monetary balance sheet accounts and income statement accounts related to non-monetary items.
If you have average balance processing enabled for your ledger, you need to enter separate historical rates for standard and average balances for specific balance sheet accounts.
Note: If you change a historical rate after you've already run translation, you must retranslate your account balances for the period whose rate has changed.
You can use the Currency Rates Manager to create, update, review, and download historical rates using a spreadsheet. See: Currency Rates Manager.
Data Access Sets
The Data Access Sets assigned to your responsibility controls whether or not you can create, modify, delete or view the historical rates for your ledger.
Full Read and Write Access: You can create, modify, delete and view historical rates for your ledger if your data access set provides full read and write access. The following lists the three types of full access:
Ledger data access set provides read and write access to the full ledger.
Balancing Segment Value data access set provides read and write access to all balancing segment values for a ledger using the All Values checkbox.
Management Segment Value data access set provides read and write access to all management segment values for a ledger using the All Values checkbox.
Partial Read and Write Access: If you have read and write access to specific balancing segment values and management segment values, you have the following type of access:
Partial Read and Write access to specific balancing segment values or management segment values allows you to create, modify, delete and view historical rates for those balancing segment values or management segment values.
Read Only Access: If you have Read Only access to a ledger, balancing segment values or management segment values, you can only view the historical rates for your ledger.
Read Only access to the ledger allows you to view all of the historical rates for your ledger.
Read Only access to specific balancing segment value or management segment values allows you to view those specific balancing segment values or management segment values.
Prerequisites
Define and enable your currencies.
Define your ledger using Accounting Setup Manager.
Navigate to the Historical Rates window.
Select the ledger you want to enter historical rates for.
Enter the Target Currency for which you want to enter rates. You can enter any foreign currency as the Target Currency.
Enter the Period to which the historical rate applies.
Enter the Account to which the rate applies.
You must have read and write access to the ledger, balancing segment value or management segment value to enter a historical rate for the account.
Enter either a Rate or Amount.
Note: If a historical amount is assigned to an asset, liability, or owner's equity account (assuming Owner's Equity Translation Rule is set to YTD) then, the historical amount will appear in the rate adjustment column in a Translation Trial Balance report.
If a historical amount is assigned to a revenue, expense, or owner's equity account (assuming Owner's Equity Translation Rule is set to PTD) then, the historical amount will appear in the corresponding debit or credit activity columns of a translation trial balance report.
See: Translating Balances for a discussion of how General Ledger determines the translated balance from the rate or amount you enter on the Historical Rates window.
Note: Data entry for historical amounts in this window assumes you are entering a credit amount (a positive number for a credit amount, a negative number for a negative credit amount).
(Optional) If you have average balance processing enabled, choose a Usage type to apply the rate to Standard or Average balances.
Note: You can use the Assign by Ranges window to define the same rate for both standard and average balances.
Note: If average balance processing is not enabled in your ledger, the usage field will not appear in the Historical Rates window.
Select Historical as the Rate Type. General Ledger overrides the period-end rate, if one exists, with rates associated with this type.
Note: If you have average balance processing enabled, General Ledger will automatically enter Historical as the Rate Type.
Save your work.
Produce a Historical Rates Listing to see your historical rates, amounts and weighted-average rates.
Navigate to the Historical Rates window.
Select the ledger or reporting currency you want to enter historical rates for a range of accounts
Enter the Target Currency for which you want to enter rates. You can enter any foreign currency as the Target Currency.
Choose the Assign by Ranges button.
Enter the Period, Rate or Amount, and Rate Type just as you would for individual accounts. You must have read and write access to the ledger, balancing segment value or management segment value to the accounts to enter historical rates for the range of accounts.
Note: If you have average balance processing enabled, the Rate Type field will not appear.
Note: Data entry for this window assumes you are entering a credit amount (a positive number for a credit amount, a negative number for a negative credit amount).
(Optional) If average balance processing is enabled, select a Usage type to apply the rate to Standard, Average, or Standard & Average balances.
Enter an account Low and High for the range you want to assign the defined rate. You can assign the same rate to multiple account ranges.
Choose OK when you have entered all the ranges for the period, rate, and rate type.
Save your work. General Ledger runs a concurrent process to assign historical rates to the accounts in the designated ranges.
Produce a Historical Rates Listing to see your historical rates, amounts and weighted-average rates.
If you translate an owners' equity account for which you have not entered a historical rate for the period and to-currency, or an asset or liability account for which you have entered a previous historical rate, General Ledger automatically creates a historical rate and assigns it one of the rate types listed below. The information below also describes how General Ledger derives the historical rate it uses for the period and to-currency:
Prior: General Ledger uses the most recently entered historical rate or amount for your balance sheet accounts, and assigns it the rate type Prior.
Note: General Ledger does not automatically roll forward historical rates for the income statement accounts.
Period: If you have never defined a historical rate or amount for an owners' equity account, General Ledger uses:
The assigned period-average rate type if the profile option GL: Owners Equity Translation Rule is set to PTD.
The assigned period-end rate type if the profile option GL: Owners Equity Translation Rule is set to YTD.
Calculated: This rate type is only used when the profile option GL: Owners Equity Translation Rule is set to YTD. It is only applicable to the retained earnings account in the first period of each fiscal year. General Ledger calculates a historical rate for the retained earnings account and assigns it the rate type Calculated. This happens regardless of whether a historical rate has been previously defined for the retained earnings account.