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Session ID:
Prepared by:
How to Make PeopleSoft 9.2
Multi-Currency Work for You
101460
@SpearMC
Millie Babicz
Managing Director
SpearMC Consulting
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Agenda
• About SpearMC
• Multi-Currency Configuration
• Multi-Currency Journals
• Re-Measurement
• General Ledger Adjustments
• Reporting
• Multiple GAAPS
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About SpearMC
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Your Presenter
Millie Babicz, CPAManaging Director
866-SPEARMC x802
www.SpearMC.com• ERP Implementation Specialist
at KPMG for 13 years before joining SpearMC in 2007
• PeopleSoft Financials, Financial Control and Reporting Expert
• Certified PeopleSoft v9.1 Financials
• 20 Years Experience in Project / Program Management
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About SpearMC
5
Founded in 2004, SpearMC is a technology and professional services firm specializing in
PeopleSoft Financials and Supply Chain Management
PeopleSoft Human Capital Management and Payroll
Maximo Enterprise Asset Management
Oracle Business Intelligence
ERP Architecture and Application Development
Project and Program Management (PMO)
Change Management
ERP Training
Mobile Technology
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About SpearMC
Offices in Chicago, Denver, Oklahoma City, Phoenix, Seattle and San Francisco
We focus on local market delivery and capability development in line with industry focus areas unique to the regions we serve.
Our local and well-connected network of top-tier business analysts, technical leads, developers and project managers keep travel cost to a minimum.
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About SpearMC
Each member of our Leadership Team leverages over 20 years of experience in Technology, Financial and Business Transformation.
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About SpearMC
Industry focus areas include:
• Energy
• Transportation
• Healthcare/Biotech
• Government
• Media/Technology
• Consumer Products
• Financial Services
• Higher Education
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About SpearMC
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Oracle Gold Partner since 2008: PeopleSoft Specialization Applications Reseller
Hardware Reseller
IBM Advanced Partner:
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Multi-Currency Configuration
10
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Multi-Currency Configuration
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Common Terms
• Currency Codes
– Pound Sterling (GBP)
– Mexican Pesos (MXN)
• Exchange Rates
• Market Rates (exchange rates, interest rates, stock price, etc.)
• Currency Rate Types (Average, Current, Historical, etc.)
• Base Currency (each BU must have one base currency)
• Foreign Currency (any currency that is not base currency
• Reporting Currency (any currency you use for reporting)
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Multi-Currency Configuration
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Market Rate
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Multi-Currency Configuration
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Loading Market Rates
• PeopleSoft comes delivered with standard currency codes,
however, if a particular code does not exist then:
‒ Insert currency into CURRENCY_CD_TBL
‒ Insert currency quotation method into CURR_QUOTE_TBL
‒ Insert market rate definition into RT_RATE_DEF_TBL
• Update Rates for existing currency code:
‒ Insert market rate for current effective period into
RT_RATE_TBL
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Multi-Currency Configuration
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Loading Market Rates
Rate File
New Currency
CURR_QUOTE_TBL
RT_RATE_TBL
CURRENCY_CD_TBL
RT_RATE_DEF_TBL
NO
YES
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Multi-Currency Configuration
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Currency Quotation Method• Indirect
‒ Determine whether you want the rates for a currency pair quoted indirectly.
‒ For example, in converting United States dollars (USD) to Swiss francs (CHF), an indirect quote would indicate that USD x.xxxx = CHF 1
• Direct
‒ Determine whether you want the rates for a currency pair quoted directly.
‒ For example, in converting United States dollars (USD) to Swiss francs (CHF), a direct quote would indicate that USD 1 = CHF x.xxxx. In this case, Swiss francs are quoted directly against the United States dollar
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Multi-Currency Configuration
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Quotation Method
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Multi-Currency Configuration
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Currency Precision Rounding
• Currency dictates the precision of monetary amounts.
• For example, United States dollar amounts have two digits to the right of the decimal and Japanese yen have none.
• PeopleSoft software addresses currency precision as follows:‒ PeopleSoft delivers currency sensitive amount fields with a standard length of
23.3 (23 digits to the left of the decimal point and 3 digits to the right of the decimal point)
‒ By default, PeopleSoft software rounds all currency sensitive amount fields to the currency precision of the associated currency. This action is a PeopleTools option that you can deactivate.
‒ All numbers on SQR reports are currency sensitive. For reporting with Crystal and PS/nVision, the display is equal to the field precision, but you can increase the number of decimals.
‒ The journal entry screen will show an error if a user enters more decimal places than specified on the currency code page
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Multi-Currency Configuration
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Currency Precision
Currency precision ranges from zero decimal points to three
decimal points per ISO standard
The journal will be in error if more decimal places than
specified on the currency code page are entered
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Multi-Currency Configuration
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Currency Triangulation
Cross currency triangulation allows you to convert two
currency pairs, which do not exist as standard pairs, using
a third currency as a reference
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Multi-Currency Configuration
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Currency Controls
Controls that are defined for a ledger group override those
defined for a business unit, and controls selected for a source
override both a ledger group and a business unit.
• Business Unit
Establish Base Currency
Currency Balance Options
• Ledger Group
Rounding Adjustment Option
• Journal Source
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Multi-Currency Configuration
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Business Unit
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Multi-Currency Configuration
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Ledger
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Multi-Currency Configuration
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Journal Source
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Multi-Currency Journals
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Multi-Currency Journals
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GL Currency Mapping
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Multi-Currency Journals
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Update Currency Effective Date at Header Level
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Multi-Currency Journals
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Journal Line – Primary Ledger
• Adjust Amount or Rate for Primary Ledger (ACT_LOC)
• If you change either the Amount, Base Amount or Rate, you can have
the system calculate one of the three by changing the Calculate
value or just leave the System Rule default
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Multi-Currency Journals
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Ledger
• You can define multiple ledgers for various multi-national reporting
• Ledgers in Sync
‒ When you enter a two line journal entry for a ledger group that
contains two ledgers, the system creates two additional lines.
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Multi-Currency Journals
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Journal Line – Secondary Ledger
• Adjust Base Amount or Rate for Secondary Ledger (SEC_USD) to
update the translated values
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Multi-Currency Journals
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Keep Ledgers in Sync
• The following query shows journal lines generated for the two
ledgers in this example:
‒ ACT_LOC is the primary ledger
‒ SEC_USD is the translate ledger, which translates transactions
in real time
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Multi-Currency Re-Measurement
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Multi-Currency Re-Measurement
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Revaluation• You may need to revalue the base currency of the balance sheet
accounts that you maintain in foreign currencies to reflect changes in
value due to fluctuations in exchange rates
• Revaluation process adjusts the base currency value of the account
balances by creating adjusting entries for the accounts being revalued.
• The process creates corresponding entries for any gain or loss that
results from the revaluation.
• Revaluation takes place at the end of each accounting period for all
Asset and Liability accounts prior to translation.
‒ Ledger: ACT_LOC (in this example)
‒ Timespan: BAL
‒ Rate Type: CRRNT
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Multi-Currency Re-Measurement
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Revaluation ExampleNote: Same $87.67 transaction is now worth $100.88
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Multi-Currency Re-Measurement
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Revaluation at Subsystem
• Re-measurement of gains/losses at ledger, customer and
vendor levels
• Accounts Payable
‒ The PS/AP Revaluation process finds all unpaid, posted
vouchers for the specified business units as of the specified
date whose transaction currency is not the same as the
base currency of the general ledger business unit.
‒ For each unpaid voucher, it uses the specified exchange
rate and calculates a revaluation amount.
‒ The accounting entry consists of an unrealized gain or loss
entry with a matching offset on the payables account.
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Multi-Currency Re-Measurement
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Translation• For reporting purposes, you can translate base currency balance of
foreign entity to your reporting currency.
• You can maintain a secondary ledger (SEC_USD) for real time translation at the effective CRRNT rate.
• Translation takes place at the end of each accounting period for all accounts after revaluation.
• Translation only occurs for Business Units with non-USD base currency.
• The process creates corresponding entries for any gain or loss that results from the translation.
‒ Ledger: SEC_USD (in this example)
‒ Timespan: BAL (Balance Sheet accounts) PER (Income Statement accounts)
‒ Rate Type: CRRNT (Balance Sheet accounts) AVG (Income Statement accounts)
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Multi-Currency Re-Measurement
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Translation Example
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Multi-Currency GL Adjustments
37
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Multi-Currency GL Adjustments
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Scenario 1 - Adjust Original Base Amount
• Adjustment in Period 2
• Since the original transaction amount never goes to zero, you
will always have a “revaluation adjustment” from month to month
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Multi-Currency GL Adjustments
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Scenario 1 - Adjust Original Base Amount
• Adjustment in Period 2
• Since the original transaction amount never goes to zero, you
will always have a “revaluation adjustment” from month to month
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Multi-Currency GL Adjustments
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Scenario 2 - Adjust Translated Amount
• Adjustment in Period 2
• Since the original transaction amount never goes to zero, you
will always have a “revaluation adjustment” from month to month
• But now you will have revaluation for GBP and USD amounts
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Multi-Currency GL Adjustments
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Scenario 2 - Adjust Translated Amount
• Adjustment in Period 2
• Since the original transaction amount never goes to zero, you
will always have a “revaluation adjustment” from month to month
• But now you will have revaluation for GBP and USD amounts
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Multi-Currency GL Adjustments
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Scenario 3 - Adjust Original Transaction Amount
• Adjustment in Period 2 – using same rate
• Adjustment in Period 2 – using current rate
• You will have a temporary residual until “revaluation” is processed
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Multi-Currency Reporting
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Multi-Currency Reporting
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GL Currency Mapping
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Multi-Currency Reporting
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Reporting from GL Ledger Table
• Transaction Amount (POSTED_TRAN_AMT)
‒ Can be in any currency code
‒ Serves as the foreign amount when the currency code is different then the base currency code defined for that Business Unit
• Base Amount (POSTED_BASE_AMT)
‒ Only one currency code can be defined for a Business Unit
• Posted Total Amount (POSTED_TOTAL_AMT)
‒ Any amount that is posted to Ledger, can be in foreign currency or base currency
‒ When used in reporting, you will always have to specify the currency code
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Multi-Currency Reporting
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Ledger Example
• For multi-currency ledger reporting it is safest to use Posted Base Amt
• If you used Posted Total Amt, you always have to make sure to
designate the correct currency
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Multi-Currency Reporting
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nVision Report
• Layout Tips
‒ Use Based Amount (POSTED_BASE_AMT) so you won’t
have to identify the currency
‒ Include all currency codes as nVision automatically defaults
to USD if not specified
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Multiple GAAPS
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Multiple GAAPS
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Ledger Approach Book Code Approach
Local GAAP
Adjustments
CommonIFRS
Adjustments
Local GAAP
IFRS
Multi-GAAP Ledger
L = Local Book Code C = Corp Book Code B = Common Book Code
Transactions are posted to the respective ledgers. nVision is used to produce reports for Local GAAP and IFRS.
Single ledger holds transactions for all GAAPs; Book Code ChartField used to identify transactions; Ledger Code is used to produce the Local GAAP and IFRS reports.
CommonLocal Only
IFRS Only
Ledger Code - LOCAL
Ledger Code = IFRS
BUACCOUN
TALT
ACCT
Corp GAAP Local GAAP
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Multiple GAAPS
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Ledger Approach
• The Ledger approach allows users to define different or multiple
ledgers to suit the organization’s structure.
• The user can have one ledger that addresses common
transactions.
• A second ledger that groups IFRS adjustments.
• A third ledger for entering local GAAP adjustments.
• The user can then create reports using nVision and Tree
Manager to group the ledgers as appropriate.
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Multiple GAAPS
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Book Code Approach
• You can use Book Code to handle multiple GAAP requirements
within the same ledger.
• The Book Code ChartField can identify a transaction as either
local GAAP, IFRS or both.
• This allows items that affect both local GAAP and IFRS
simultaneously to be entered only once rather than duplicated
to each associated ledger.
• Users can then use Ledger Codes to define what transactions
(based on Book Codes) to use in their reports.
• This allows organizations to ensure consistency with
accounting and data gathering across the world, while at the
same time recording transactions in compliance with local
regulation.
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Multiple GAAPS
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Book Code
• If you activate the book code, you must
specify a book code for each account value.
‒ You can attach these book codes to accounts as
attributes
‒ A unique account value must be created for each
book code
‒ Book code appears as a read only field on the
journal entry page
• Can override at time of Journal Entry
‒ The Allow Book Code Override option that is set
on the ChartField Account page
‒ Using this method, you can associate any of your
book codes with the same account value to record
related amounts in the same ledger
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Multiple GAAPS
53
Ledger Code
• Use this page to create ledger codes
• Assign them to the applicable book codes to define subsets that
segregate various accounting treatments of transactions
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Multiple GAAPS
54
Book Code Approach
• You can enter and maintain both a statutory (local) account value and a corporate (internal) account value at the detail transaction level within General Ledger, as well as within subsystems.
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Questions?
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SpearMC Online Resources
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SpearMC Online Resources
• SpearMC online Tools & Resources can be
found at www.spearmc.com
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Thank You.
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Quest is the home for PeopleSoft and JD Edwards Users
Visit the Quest International Users Group
Booth #323
■ Let us show you how to leverage the Quest community to maximize your ERP investment
■ Receive your personalized Quest Activation Plan & learn how to make the most of your membership
■ Plus, find out more about our upcoming events PeopleSoft RECONNECT (July 19-21) and JD Edwards INFOCUS (August 8-10)