Working with Currency
Currency Basics
Before you start working with multiple currencies in input forms or reports, you need to perform the following operations:
- Configure the functional currency for the scenario.
- Set up exchange rates.
- Recalculate data in FC (for example, if the FX rate was changed after data entry was completed).
Setting Up Functional Currency for a Scenario
For a detailed description of setting up the functional currency for a scenario, refer to the Configuration Manual section 3.2.3.
Setting Up FX Rates
The system allows you to set up FX rates for particular currencies, scenarios, and time periods.
The list of FX rates for a particular scenario effective for the selected date is displayed in:
Model Settings → Exchange Rates
[!TODO] Screenshot required Original caption: Figure 5.1. Currency rates list
The FX rate parameter in the Scenario card determines which FX rate value should be specified.
| FX Rate Parameter of Scenario | Description | Example |
|---|---|---|
| Original currency / Functional currency | The FX rate should quote a variable amount of functional currency against a fixed unit of the original currency. | 0,0108 |
| Functional currency / Original currency | The FX rate should quote a variable amount of original currency against a fixed unit of the functional currency. | 91,8834 |
Each FX rate has an effective date, which allows different rates to be used for different periods within the same scenario.
The last FX rate created remains valid until a new entry is created with a later effective date.
Create a New FX Rate
- Click Add new item.
- The currency rate configuration window will open.
[!TODO] Screenshot required Original caption: Figure 5.2. Currency rate configure tool
Fill in the following fields:
| Field | Description |
|---|---|
| Valid from | Effective date of the FX rate. This rate is used for all periods from this date until another rate with a later date is created. |
| Scenario | Scenario for which the FX rate is configured. |
| Currency | Input currency. |
| EUR/RUB | Exchange rate where input currency is the base currency and functional currency is the quote currency. The FX rate input option (EUR/RUB or RUB/EUR) is configured in the Scenario card. |
[!TODO] Screenshot required Original caption: Figure 5.3. Currency rate configure tool
FX rates are used for automatic translation of all planned and imported actual data into functional currency in input forms and reports.
[!NOTE] There is no need to create a separate entry for the Euro input currency if Euro is used as the functional currency.
The system automatically sets the FX rate for the functional currency to 1.
Data entered in Euro automatically uses a 1:1 ratio.
Batch Recalculating Data in FC
Batch recalculating data in FC allows recalculation of functional currency values that depend on original currency data and FX rates.
The process does not affect:
- Data that does not contain currency breakdown (for example, rates).
- Functional currency values that do not depend on FX rates within NeoPlan (for example, imported actual data).
Open the recalculation tool through:
Model Settings → Dimensions Settings → Exchange Rates
[!TODO] Screenshot required Original caption: Figure 5.4. Exchange rates menu section
Recalculate Data
- Enter new FX rates if required.
- Click Convert.
[!TODO] Screenshot required Original caption: Figure 5.5. Currency rates convert button
[!NOTE] The system recalculates all eligible data for the selected scenario to avoid inconsistencies.
Working with Different Currencies in Input Forms
Currency is used in input forms both as:
- a values type parameter;
- an input form dimension.
Currency as a values type parameter defines whether data is displayed in original (input) currency or functional currency.
Currency as an input form dimension assumes data entry detailed by original currencies.
[!NOTE] - Input currency is used for entering data. - Functional currency is used for aggregating data entered in different currencies.
[!TODO] Screenshot required Original caption: Figure 6.15. Currency as values type and dimension
Currency as Values Type Parameter
Set the Value Type
Select one of the available options from the drop-down list.
| Value Type | Description |
|---|---|
| Input currency | Data is displayed in input currency. Manual data entry is available. |
| Functional currency | Automatically translated data is displayed in functional currency. Data is read-only. |
[!TODO] Screenshot required Original caption: Figure 6.16. Value type
Both planned and imported actual data can be displayed in input currency and functional currency.
The Currency parameter is also stored as part of the saved layout settings.
Currency as Input Form Dimension
Currency as an input form dimension assumes data entry detailed by original currencies and must be distributed between layout sections in the same way as any other form dimension.
[!TODO] Screenshot required Original caption: Figure 6.17. Currency dimension
If data must be entered separately for several currencies, work with the Currency dimension in the same way as with other input form dimensions.
Data Structure by Currencies
The following table explains how values should be interpreted when the Currency dimension is used together with the Value Type parameter.
| Currency Dimension | Input (Original) Currency | Functional Currency |
|---|---|---|
| RUB | Values in RUB | Values originally entered in RUB converted to EUR using FX rates |
| TRY | Values in TRY | Values originally entered in TRY converted to EUR using FX rates |
| EUR | Values in EUR (as original currency) | Values originally entered in EUR |
| TOTAL | Automatically aggregated values that should not be interpreted economically | Automatically aggregated values representing the total amount regardless of original currency |
[!TODO] Screenshot required Original caption: Figure 6.18. Value type = Input currency
When the Value Type is set to Functional Currency, the text (functional currency) is displayed in the top section of the input form.
[!TODO] Screenshot required Original caption: Figure 6.19. Value type = Functional currency
[!NOTE] If Currency Value Type is set to Functional Currency and data is detailed by several currencies, the values represent amounts in functional currency that were originally entered in different input currencies.
If Currency Value Type is set to Input Currency and the Currency dimension is distributed to the Subtable, the Main Table displays the sum for all currencies. This value is technical and has no economic meaning.
If Currency Value Type is set to Functional Currency, the sum for all currencies has economic meaning.