FX Conversion Help

Hi,

I currently have a list of bank accounts in various currencies. I need to convert these currencies into the product currency.

I am currently converting all bank balances into GBP using a FX module and then converting all back to the product currency.

However, is there another way to do this? The excel file I'm trying to replicate removes this extra step and looks at the direct conversion rate between the base currency and the fund currency. How do I set up a module to do this?

Thanks in advance,

Accepted answers

All comments

anirudh

Hi,

Create a list of currencies and store the rates against them. Then use these rates directly in the line item where you want to do the conversion. That way you don't have to refer to the list containing bank accounts.

Let me know if that wasn't clear enough

Regards,
Anirudh

CommunityMember113484

Hi - do you mind elaborating on this further? Thanks

ChrisAHeathcote

Hi,

To enable the conversion between currencies you need to create an FX module which contains both a base currency and a target currency.

Create two currency lists; 1. base 2. target
Create a FX module and allocate the two lists above as dimensions
Create a line item called FX Rate and populate this with all the required FX rates
Create a properties module for the bank accounts and create a line item called 'Base Currency.' Populate this line item to allocate the required currency to each account
Create a properties module for your products and create a line item called, 'Target Currency.' Populate this with the required currency for each product
In you target module you can now take the required FX rate from the FX rate module, lookup up the 'Base Rate,' from the Bank Accounts properties module and the target from the Products properties module.

anirudh

Sure,

Create a list of currencies

Create a module dimensioned by this list with 1 line item called Rate

Then in your transaction module try this formula:

It's basically just a lookup to the module containing the rates.

You will need to specify the currency in a FX List formatted line item

Let me know if you need more help

Regards,

Anirudh

CommunityMember113484

Thanks for this - it was really helpful.
I got up to 6 , but my result is showing nil? The formula I'm using:
Balance / 'S_FX Rates - Copy'.FX Rate[LOOKUP: 'D_Treasury | Bank Details'.CCY, LOOKUP: Target Currency]

CommunityMember113484

Hi, thanks for this, but I think I need a cross FX module rather than a direct one?
I think Chris below is on the right track, but I'm just stuck on step 6 now!

Quick Links

Can you help?

Unanswered questions

Create a Filter to show all the elements of that level based on selection in hierarchy
Hello Community members, Requirement Details: I have 5 levels of composite hierarchy list (A1, A2, A3, A4, A5). I have published a module in UX, Now the requirement is If user select a list member from A4 level in the context selector or Custom Filter I have to display all the list members under that A4 level. How can I…
import monthly data with months in columns
is there a way to import data with months in columns (usual excel table view)? I have to transform the data so there are rows to cover each period in the upload data form, but I am wondering if there is a better way to just import the data as is with the months in the columns. please let me know what you think. thank you,
Cloudworks Big Query Integration Fail
Hello, I am receiving an 'Anaplan Upload Failed' Status Description when testing my integration with a Big Query dataset. The integration imports data from BQ to our Anaplan model. No other details given in the error log. I suspect that Cloudworks is not even picking up the file but am not sure what we did wrong on the set…