Actual at other FX rate (PY/Bud/PP) - Currency Neutral - How to view Fcst Scenario at other rate
Two part question.
- Comparing Actuals as other Rates to remove currency flux
- We want to take our Actuals and view at PYE, PYP & budget FX rates to take out flux in currency. Is there a feature (outside of creating BR's or Alt Rate types) to do this.
- We currently have built 3 scenario for the above rates and it works as expected for base level members. Where we run into issues is with converting to Reporting currency at parent members. Ex is converting our EMEA entity (currency - EUR) to USD. The BR seems to store the USD value at the base entity but is converting from EUR to USD at parent level using OS logic (ie current defined rate for Actual scenario). It is not consolidating up the USD value but converting from EUR at parent member. This BR was created almost 6 years ago when we implemented so hoping there is something out-of-the-box now that will do this.
- I am exploring creating 3 new Rate Types: PY Budget, PYE Actual & PYP Actual. I would copy all the PY rates into these 3 new rate types and then create 3 Actual scenarios, each using these new rates. The big issue is having to copy all the data over from Actuals and then reconsolidating. Hoping there is a better way.
- Fcst Currency Neutral - Having Fcst at the Budgeted rate
- We are US company with large % of our business from Europe and the flux in EUR to USD is distorting our review of how we are doing. Looking for a way to see our Fcst how we expect (current process) and at Budget rate.
- I could copy to new scenario that is set to Budget Rate but we have 12 Fcst scenarios and that would take up alot of resources to copy and consolidate as we would need to do this many times during Fcst process (ie it would not be something we only did once the Fcst was closed but during the process)
- Would this be a UD8 member and if so, how would it handle Base and Parent level members.
Looking for best practice advice on how to handle these two issues.
