Introduction

The exchange rate is essential for consolidation and translation in a multi-currency FCC application. The data can be submitted using the pre-built data forms or loaded directly from source systems (direct integration or via flat file) using Data Management. We will be covering exchange rate data load configuration and process for a flat file using data management

Exchange rates data is loaded to the Rates cube in FCC. This cube does not use all the dimensions in the Consol cube. Below are the relevant dimensions in the rate cube

Example of TCI journal entry in FCC

Exchange Rate Import Format

• Create an import format based on the exchange rate source file
• Add the View dimension and set the expression to “FCCS_Periodic”

• Create Exchange Location with the following settings
• Note: The functional currency should be set to the application currency. In this example, USD

• Map the average rate and end of month rate accounts in the source file to the equivalent accounts in FCC

• Map the ISO currency codes in the source file to the equivalents in FCC. Use the like mapping below.
• Note: The currencies in the source file must exist in the target FCC application. If this is not the case, they must either be added in FCC or set to IGNORE

• Map Entity to FCCS_Global Assumptions

• Ensure that the Target Cube is set to “Rates”
• Upload the exchange rate file and save
• Execute the DLR for the specified POV

• Below is the exchange rate data in workbench after successful data load

View Loaded Exchange Rate in FCC – Using Data Form

• Use any of the prebuilt data forms to verify the exchange rate data loaded from DM

Summary

The accuracy of the exchange rate data between source and consolidation system will impact the degree of variation in FX calculation and CTA. Factors like the number of decimal places are important considerations.

Automating the exchange rate load process, using DM will reduce the human error that may result from a manual input