Auto translate Currencies option on Entity.

[sandeepr]

HI All,

Good morning.

Could you please share the documentation on 'Auto translate Currencies option' in entity properties. 

Also, how it works in below mentioned scenario.

Scenario:  I have parent A and Children B both are tagged with Default currency 'CAD', but I want to translate Base and parent to USD in this case can I set Auto translate Currencies option to USD to convert data to USD without changing Parent A default currency to USD.

Thanks in Advance.

Thanks,
Sandeep

[MikeG]

Hi @sandeepr if you add that extra currency to the base member, there will be a nominal impact to consolidation time.  OneStream will translate and store that translated amount in that currency.  It adds to the number of stored data cells, but it also on the flip side, improves reporting performance.  The only 'gotcha' I've come across is with significantly LARGE data sets.  But the feature works and I'd suggest enabling it and checking before/after times for running a Force Consolidate on a full year of data.

Also, you can have more than 1 currency in that field (for Auto Translate).  It's not limited to just one.  If it doesn't blow up performance on the consolidation time, I'd say it is a benign (low impact) change that will improve reporting.

Hope this helps,

[chul]

Adding these can significantly impact consolidation time. There are other items to keep in mind - In your case, I don't think it will effectively address your issue. The parent's equity section won't be correct in USD as you've described it. You can check out this post: https://community.onestreamsoftware.com/t5/Rules/Alternative-currency-overrides-aggregation/m-p/2655...