Applying conversion rates for simulation

This page allows you to enter the exchange rate for conversion of base currency to the selected reporting currency. You can enter exchange rates in this page only if “Conversion” has been opted as the basis of reporting. The simulation run for which you want to enter exchange rates must be in the “Saved” status. You can enter the exchange rates for the combination of company and finance book. The system retrieves the exchange rate set in the login company for the selected exchange rate type. You can modify the exchange rates in a manner that it does not exceed the tolerance defined for it in the corresponding “Exchange Rate” business component. The system saves the exchange rate along with simulation run number and updates the status of the run number as “Scheduled to Start”.

Select the “Apply Conversion Rates” link at the bottom of the “Simulate Company Consolidation” page.

The “Apply Conversion Rates” page appears.

The system displays the following:

Simulation Run No

The number identifying the simulation.

Enter the following fields:

Company	Use the drop-down list box to select the company for which the simulation is being done. The company that has the simulation run details in the “Saved” status and for which the reporting basis has been selected as “Conversion” will be available for selection.
Finance Book	Use the drop-down list box to select the code identifying the finance book for which the reporting basis is “Conversion”.

The system displays the following:

From Currency	The code identifying the base currency of the company or the selected finance book.
Consolidation Currency	The code identifying the currency in which the consolidation is reported.

The system displays the following in the “Exchange Rates” multiline:

Account Group

The group to which the account belongs. It could be “Assets”, “Liability”, “Capital”, “Revenue” or “Expenditure”.

Enter the following fields in the “Exchange Rate” multiline

Exchange Rate Type	Use the drop-down list box to select the type of exchange rate that is to be used for the conversion of the consolidation balances. The system displays “Buying Rate” by default on launch of the page.
Exchange Rate	The exchange rate of the reporting currency with respect to the base currency of the company (Decimal). Mandatory. The value entered in this field must not exceed the tolerance set in the “Exchange Rate” business component.

Note: The system displays the exchange rate available for the parent company based on the selected exchange rate type.

Click the “Save” pushbutton to save simulation details.

The system saves the exchange rate details along with the simulation run number. If a run number exists for the combination of the simulation number, company and finance book the system updates the exchange rate details accordingly.

Click the “Simulate” pushbutton to create a simulation run for company consolidation.

The system saves the exchange rate details along with the simulation run number. The system also updates the status of the simulation as “Scheduled to Start”.

The system displays the following:

Created By	The login ID of the user who has created the simulation of the consolidation.
Created Date	The date on which the simulation run is created.