Currency Overrides on Movements

[xtensibilitybro]

Hi All,

We are looking for a way to put a currency override on movement flow member (ex. dividends, redemptions, etc...). The current override logic which was provided was OneStream is leveraging the flow dimension to conduct the currency overrides so I am having trouble in determine the best way to work around this.

If anyone has come across this before please let me know. I'm looking forward to hearing from you.

Cheers!

[Henning]

Hi,

May I ask you to provide more details as to what you mean by your question? Sounds like a natural setup as you want to use currency overrides in the flow dimension, exactly as intended by OneStream. 

If you mean that usually you use the override on the closing balance and not on the movements, then the way people use is to not translate the closing balance, but to calculate the closing balance on C#Translated on the accounts that you plan to use overrides on: Closing = Opening + Movements

[ChrisLoran · Accepted solution]

I would first model what you are trying to do , in an Excel worksheet, and make that part of your design document, so you can always refer back to that Excel model if a customer says "this isn't the result I was expecting" when it comes to UAT.
Usually you would put special equity events (e.g. issue of share capital, dividend payments, acquisitions, etc) as flow (movement) members, with a duplicate set of flow members (e.g. dividend_USD ) which are currency override and do not translate.  Then when such an event happens, the local amounts are loaded and the dollar override (or EUR override or whatever currency the holding company is) and you calculate the FX/CTA based on the difference : i.e. (Local Amt translated at closing rate) - (override amount).

But trying to explain this is a design document in a wordy way usually has misinterpretations, which is why I'm always in favour of embedding simple Excel sheets into the design doc to explain the requirements.