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Multicurrency Notes: Functional vs Transactional_Currency

With multicurrency, you can create sales orders in a currency (called transactional currency) that is different than the functional currency (which is the currency that you use for your company's financial statements, and is selected during Costpoint initialization).

You enter sales order information primarily in the transactional currency, and the system calculates the corresponding value for the functional currency fields. Data is stored in both currencies.

All amount fields in the input file are assumed to be in the transactional currency (which may or may not be the same as the functional currency). During processing, the system calculates the corresponding value in terms of the functional currency using appropriate exchange rates (depending upon settings and currencies involved). Data is stored in both currencies. The system performs subsequent calculations separately for each currency. Refer to the Detailed Table Specifications section for more information.

For example, the Gross Unit Price Amt in the SO line from the input file loads into the Trans Currency Gross Unit Price column (SO_LN.TRN_GR_UNIT_PR_AMT), and the system calculates the value of Gross Unit Price (SO_LN.GROSS_UNIT_PRC_AMT) in terms of functional currency. Similarly, this calculation applies to other fields that also use functional and transaction currency amounts.

The system performs subsequent calculations separately for each currency. For example, the input file has a Gross Unit Price of "100" for the sales order line, and the transactional currency is in British Pounds (GBP). This translates to "160," where the functional currency is in US Dollars (USD) and the exchange rate of GBP to USD is 1.6. Both values are stored separately in different fields for the sales order line (Transaction Gross Unit Price equals 100, Gross Unit Price equals 160). Subsequent calculations (like Discount Amount) are also calculated and stored separately. If the discount rate is10%, the SO line Discount Amount is 10 (GBP) and 16 (USD) and stored as Transaction Discount Amount (SO_LN.TRN_DISC_AMT) equals 10, and Discount Amount (SO_LN.DISC_AMT) equals 16.

Calculations for Exchange Rates

The system uses standard multicurrency functions to calculate exchange rates between transactional and functional currencies. This applies exchange rates corresponding to the Rate Group and Rate Date (or Rate Period). For non-Euro currencies, the Trans to Func exchange rate is used. If a direct exchange rate is not available, the system uses the triangulation method (using a third common rate) to derive the exchange rate (if one is set up on the Configure Multicurrency Settings screen). For Euro currencies, the system uses the product of Trans to Euro and Euro to Func exchange rates to derive the appropriate exchange rate between the transactional and functional currencies.