Applying conversion rates for consolidation

This page allows you to enter the exchange rate for conversion of the balances in the base currency of the child company to the base currency of the parent company if both the currencies are different. You can enter exchange rates in this page only if “Conversion” has been opted as a consolidation currency. The consolidation 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 child company and parent company. The system retrieves the exchange rate of the parent 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 “Consolidate Company” page.

The “Apply Conversion Rate” page appears.

The system displays the following:

Consolidation Run No.	The number identifying the consolidation run.
Company	The company name.

The system displays the following in the “Currency Information” group box:

Child Company Base Currency	The code identifying the base currency of the child company.
Child Company Parallel Base Currency	The code identifying the parallel base currency of the child company.
Parent Company Base Currency	The code identifying the base currency of the parent company.
Currency	The currency in which the consolidation has taken place.

The system displays the following in the “Exchange Rate” 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 for the combination of the base currencies of the child company and parent company combination (Decimal). Mandatory. The value entered in this field must not exceed the tolerance set in the “Exchange Rate” business component.

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

The system saves the exchange rate details along with the consolidation run number. The system updates the status of the consolidation run as “Scheduled to Start”. The system also updates the login ID of the user and the system date in the “Created By” and the “Created Date” fields.

The system displays the following:

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