Oracle Fusion Reporting Currencies

[@ankurkhurana3]

Vikas you are the best.. Thank you for these awesome videos 🙂

[@vikashandaqviksoftoraclefusion]

Thanks Ankur. Happy learning.

[@santhoshkrishnan6325]

so if reporting currency ledger has either subledger or journal as the conversion level, then we need not run the Translation process?

[@MiyuruGuruge]

Thanks Vikas

[@khushboovarshney319]

Is there any real-time currency rate feed available in Oracle Cloud General Ledger?

[@vikashandaqviksoftoraclefusion]

You can subscribe to Oanda, Refinitiv etc. to receive and upload rates automatically via PASS.

[@sanjaypriyadarshi]

@@vikashandaqviksoftoraclefusion even bloomberg also

[@lavakumarm3237]

Hi what is the significance of First open period. can we leave it default of primary ledger first open period or should we change

[@vikashandaqviksoftoraclefusion]

You have to open first period of a ledger. Once opened, you cannot open a period prior to that to record any transactions

[@lavakumarm3237]

@@vikashandaqviksoftoraclefusion Hi Vikas , suppose we are using system from one year and business is asking to define reporting currency today, so i should give "Apr-2020" as First open period in the reporting currency setup?

[@vikashandaqviksoftoraclefusion]

@@lavakumarm3237 yes. Of business wants history them they can open first period from whenever they want and load TB for each month. Oyherwiae, open Mar-21 as first period to load opening balmces and regular transactions from Apr.

[@thexulfii]

Hi Vikas, Thanks for sharing such knowledgeable videos. I have one small question. If I have a primary ledger with EURO currency as functional currency and I create a reporting currency in USD, this will translate all balances from EUR to USD. In my EURO Primary Ledger, I have different transactions in different currencies lets say USD, INR, AUD etc. When I run the revaluation process, based on the changes in exchange rates, the revaluation journals will be created and posted in EURO primary ledger in EURO. These revaluation journals will not be posted in reporting ledger after translation in USD?

[@vikashandaqviksoftoraclefusion]

You do not transfer revaluation journals from primary ledger to reporting currency ledger. You run revaluation separately in Reporting currency book.

[@thexulfii]

@@vikashandaqviksoftoraclefusion What is the reason for that? I do revaluation in my primary ledger which creates gain and losses in primary ledger which are then translated into reporting currencies. Why do I need to do seperate revaluation in reporting ledger?

[@vikashandaqviksoftoraclefusion]

@@thexulfii you do not revalue functional currency in primary ledger. But that functional currency needs to be revalued in reporting currency.

[@khushboovarshney319]

What is the difference between the reporting currency and the Translation Process?

[@vikashandaqviksoftoraclefusion]

Translation can be done only at balance level and typically used when you have to transfer balances to consolidation book. You translate and then transfer.

[@vikashandaqviksoftoraclefusion]

Reporting currency gives you flexibility to translate at journal or sub ledger level as well. Being a separate ledger, you can also post adjustment journals, if any.

[@khushboovarshney319]

@@vikashandaqviksoftoraclefusion : So In case I am having a reporting ledger which is using the same exchange rate as of translation process. Can I use the reporting ledger to transfer the balances to consolidation ledger. If yes, then there is no need to run the translation process as they are already translated. Right?

[@vikashandaqviksoftoraclefusion]

@@khushboovarshney319 correct. In fact, nowadays consolidation ledger is not used and report based consolidation is done.

[@vikashandaqviksoftoraclefusion]

You can pick and choose which ledgers you want to use for consol.

[@kanikeranganath9170]

CAN U POST TRANSLATE BALANCE FUNCTIONS AND IN FBDI I AM NOT GETTING LEDGER AND GROUP ID CAN U SUGGEST WHAT IS THE ISSUE

[@vikashandaqviksoftoraclefusion]

Sorry, could not understand your question

[@kanikeranganath9170]

my dout is can u post fusion translation funtion setups i did setups but it is not working my functional currency jounal balance not translated