Currency exchange rates are used to calculate the Reporting Currency. Account balances are entered in the company’s local currency. The local currency is converted to the Reporting Currencies using the local currency to reporting currency exchange rates.

All exchange rates are entered in a Lead Currency for each included currency. The cross rates are calculated by ApliqoFPM. The cross rates can be seen on the Cross Rates tab in the Currency Conversion page.

The Lead Currency, Reporting Currencies and Included Currencies are set up in the Currency Setup.

Currency exchange rates are entered by month. Each month has an average currency exchange rate and closing monthly exchange rate. The average currency rate is the monthly average of the daily currency rates for the month. The average currency rate is used to calculate the Profit and Loss accounts reporting currencies. The closing currency rate is the currency rate at the end of the month. The closing currency rate is used to calculate the reporting currency for Balance Sheet accounts.

All included Currencies must have a monthly exchange rate entered in the Default Currency tab in the Currency Conversion page. Specific monthly exchange rates for a given company and account can be entered in the Specific Rates tab. The specific exchange rate is used instead of the default exchange rate when calculating the company and account that have specific exchange rates.

If the Currency Version is being used by a Planning Version, then future exchange rates must be entered to cover the planning months.

Related Links

Setup Currencies in Apliqo FPM

Entering Default Currencies

Loading Currencies from Excel

Copying Rates from another Currency Version

Applying the Currency Rates

Adding a Currency Version

Deleting a Currency Version

Assigning Currency Version to a Working Version

Static Subset Popup

Dynamic Subset Popup