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.

Setup Currency

Entering Default Currencies

Enter the Closing and Average exchange rates in the Enter Currency Rate widget. All currency rates are entered from the Lead Currency to the Included Currency.

Loading Currencies from Excel

The currency rates can be loaded from Excel using the Load Currency popup.

See how

For a given currency version, year, and Lead Currency, the spreadsheet must have the currency type in column 1, the Included Currency to in column 2 and the 12 Months in the remaining columns.

Exchange rates loaded from excel are incrementally loaded to ApliqoFPM. If an included currency is missing from the excel sheet, that currency is not loaded from excel.

Copying Rates from another Currency Version

Click on the Copy popup found on the Enter Currency Rate widget.

Select the Currency Version to copy from. Select the period to be copied in the From and To fields. Select the currency to be copied or select Total FIN Currency ALL to copy all currencies.

Apply Rates Popup

If the historical exchange rates have changed for the Actual Version, then the Reporting Currencies need to be recalculated for the Actual Version.

If the currency rates have changed for the Working Plan Versions, then the working plan version needs to be resubmitted so that the exchange rates are recalculated.

The reported currency of archived versions cannot be recalculated.