When you enter transactions in a currency that is different from functional currency or project currency, Oracle Projects must convert the transaction amount to the functional and project currencies.
Transaction amounts are stored in the following currencies:
Transaction Currency: The currency in which a project transaction occurs
Expenditure Functional Currency: The functional currency of the expenditure operating unit
Project Functional Currency: The functional currency of the operating unit that owns the project
Project Currency: The user-defined project currency
This section describes how Oracle Projects determines the default conversion attributes it displays during expenditure entry.
For information about currency conversion for transactions imported using Transaction Import, see: Currency Conversion Attributes for Imported Transactions, Oracle Projects APIs, Client Extensions, and Open Interfaces Reference.
To convert transaction currencies to functional and project currencies, Oracle Projects must first determine the exchange rate type and exchange rate date.
Note: The logic described for determining default values applies to all project transactions. The project functional currencies are the same, then the expenditure functional conversion attributes are used as the project functional values.
Case 5: All Currencies Are Different
The following logic is used to determine the currency conversion rate type and rate date used in converting the transaction amounts from the transaction currency:
First, the functional currency attributes are determined as follows:
If you enter the conversion attribute, that attribute is used for the conversion.
By default, the system displays the attribute entered for the task to which the transaction is charged. If you do not override the attribute, the default attribute is used.
If no attribute has been entered for the task to which the transaction is charged, the default attribute displayed by the system is the attribute entered at the project level.
If there are no defaults entered at the project or task level, the default attribute is the attribute entered in the implementation options for the expenditure operating unit.
These attributes are used to obtain a conversion rate, which is used to convert the transaction currency amount to the project functional currency.
The project functional currency amount is then copied to the expenditure functional currency amount and to the project currency amount.
This logic is summarized in the following table.
| Project Functional Currency | Expenditure Functional Currency and Project Currency |
|---|---|
| The following hierarchy is used: 1. User-entered value 2. Default value from the lowest task 3. Default value from the project 4. Default value from the expenditure operating unit's implementation options | The project functional currency attributes are used. |
You can override functional currency attributes. You cannot directly override project currency attributes. However, if you change the functional currency attributes, the changes are copied to the expenditure functional currency attributes and project currency attributes.
If the functional currency of the operating unit that incurred the cost is the same as the functional currency of the operating unit to which the cost is charged, but the project currency is different, the following logic is used to determine the rate type and rate date used to convert the transaction amounts from the transaction currency:
The project functional currency attributes are determined as follows:
If you enter the conversion attribute, that attribute is used for the conversion.
By default, the system displays the attribute entered for the task to which the transaction is charged. If you do not override the attribute, the default attribute is used.
If no attribute has been entered for the task to which the transaction is charged, the default attribute displayed by the system is the attribute entered at the project level.
If no defaults are entered at the project or task level, the default attribute is the attribute entered in the implementation options for the expenditure operating unit.
The attributes are used to obtain a conversion rate, which is used to convert the transaction currency amount to the project functional currency.
The project functional currency amount is then copied to the expenditure functional currency amount.
The project currency attributes are determined as follows:
If you enter the conversion attribute, that attribute is used for the conversion.
By default, the system displays the attribute entered for the task to which the transaction is charged. If you do not enter the attribute, the default attribute is used.
If no attribute has been entered for the task to which the transaction is charged, the attribute entered for the project is used for the conversion.
If there are no defaults entered at the project or task level, the default attribute is the attribute entered in the implementation options for the project operating unit.
The attributes are used to obtain a conversion rate, which is used to convert the transaction currency amount to the project currency.
This logic is summarized in the following table.
| Project Functional Currency (and Expenditure Functional Currency) | Project Currency |
|---|---|
| The following hierarchy is used: 1. User-entered value 2. Default value from the expenditure operating unit's implementation options | The following hierarchy is used: 1. User-entered value 2. Default value from the lowest task 3. Default value from the project 4. Default value from the project operating unit's implementation options |
You can override both functional and project currency attributes. You cannot directly override the expenditure functional attributes. However, if you change the project functional currency attributes, the changes are copied to the expenditure functional currency values.
In this scenario, the functional currency of the operating unit that incurred the cost is the same as the project currency, but different from the functional currency of the operating unit to which the cost is charged. The following table summarizes the logic that is used to determine the rate type and rate date used to convert the transaction amounts from the transaction currency.
| Project Functional Currency | Expenditure Currency (and Project Currency) |
|---|---|
| The following hierarchy is used: 1. User-entered value 2. Default value from the lowest task 3. Default value from the project 4. Exchange rate date: default value from the expenditure operating unit's implementation options 5. Exchange rate type: default value from the project operating unit's implementation options | The following hierarchy is used: 1. User-entered value 2. Default value from the lowest task 3. Default value from the project 4. Default value from the expenditure operating unit's implementation options |
You can override both the project functional currency attributes and the expenditure functional currency attributes. You cannot directly override the project currency attributes. However, if you change the expenditure functional currency attributes, the changes are copied to the project currency values.
In this scenario, the functional currency of the operating unit to which the cost is charged is the same as the project currency, but different from the functional currency of the operating unit that incurred the cost. The following table summarizes the logic that is used to determine the rate date and rate type used to convert the transaction amounts from the transaction currency.
| Project Functional Currency (and Project Currency) | Expenditure Functional Currency |
|---|---|
| The following hierarchy is used: 1. User-entered value 2. Default value from the lowest task 3. Default value from the project 4. Exchange rate date: default value from the expenditure operating unit's implementation options 5. Exchange rate type: default value from the project operating unit's implementation options | The following hierarchy is used: 1. User-entered value 2. Default value from the lowest task 3. Default value from the project 4. Default value from the expenditure operating unit's implementation options |
You can override both the project functional currency attributes and the expenditure functional currency attributes. You cannot directly override the project currency attributes. However, if you change the project functional currency attributes, the changes are copied to the project currency values.
In this scenario, the project functional currency, expenditure functional currency, project currency, and transaction currency are all different. The following table summarizes the logic that is used to determine the rate date and rate type used to convert the transaction amounts from the transaction currency.
| Project Functional Currency | Expenditure Functional Currency | Project Currency |
|---|---|---|
| Following hierarchy is used: 1. User-entered value 2. Default value from the lowest task 3. Default value from the project 4. Exchange rate date: default value from the expenditure operating unit's implementation options 5. Exchange rate type: default value from the project operating unit's implementation options | Following hierarchy is used: 1. User-entered value 2. Default value from the lowest task 3. Default value from the project 4. Default value from the expenditure operating unit's implementation options | Following hierarchy is used: 1. User-entered value 2. Default value from the lowest task 3. Default value from the project 4. Default value from the project operating unit's implementation options |
You can override the project functional currency attributes, the expenditure functional currency attributes, and the project functional currency attributes.