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How to Make PeopleSoft 9.2 Multi-Currency Work for You
Presented by:
Stephen Coco
Managing Director
SpearMC Consulting
Session ID#: 100220
@SpearMC
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• Silence Audible Devices• Note Fire Exits• Partake of Refreshments• Note Quest Staffers (green shirts)• Complete Feedback Form• Ask Questions
Welcome and Please:
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How to join PeopleSoft Lifecycle Asset Management SIG.
Login to http://www.questdirect.org/
Go to http://www.questdirect.org/groups/PeopleSoft%20Asset%20Lifecycle%20Management
Click “Join Group”
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Introduction
Multi-Currency Configuration
Multi-Currency Journals
Re-Measurement
General Ledger Adjustments
Reporting
Multiple GAAPs
Agenda
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About SpearMC
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PeopleSoft Financials and Supply Chain Management
PeopleSoft Human Capital Management and Payroll
ERP Architecture and Application Development
Project and Program Management (PMO)
Change Management
ERP Training
Mobile Technology
About SpearMC
6
Founded in 2004, SpearMC is a technology and
professional services firm specializing in
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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.
About SpearMC
7
Regional offices in Chicago, Oklahoma City,
Seattle and San Francisco
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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.
About SpearMC
8
A decade of sustained and focused growth.
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About SpearMC
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Each member of our Leadership Team
leverages over 20 years of experience in
Technology, Financial and Business
Transformation.
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Energy
Transportation
Healthcare/Biotech
Government
Media/Technology
Consumer Products
Financial Services
Higher Education
About SpearMC
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Industry focus areas include:
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Gold Level Partner
PeopleSoft Specialization
Applications Reseller
Hardware Reseller
About SpearMC
11
Oracle Gold Partner since 2008:
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Multi-Currency Configuration
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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 Business Unit 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
Note: Can use Excel to Component Interface
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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 XML 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 ControlsControls 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 Example
Note: 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 or AVG 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 when
translating to USD.
■ 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
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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
43
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 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
BU ACCOUNT ALT 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
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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
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Alternate Account
■ 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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SpearMC.com/insights: Tools & Resources
58
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SpearMC Presentation at Reconnect
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Wednesday, July 22 @ 1:30-2:20pm Powerful PeopleSoft 9.2 Connected Query
Session ID: 103070
Presented by Keith Harper
Thursday, July 23 @ 1:30-2:20pm Beyond the Basics with nVision and Query for
PeopleSoft 9.2 Session ID: 100210
Presented by Millie Babicz
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Please complete the session evaluationWe appreciate your feedback and insight
Session ID #100220