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Budget Translation Customizing

Former Member
0 Kudos

Hi Experts,

Share your thoughts & comments on budget translation.

Budget is maintained on Project for over all in AUD.
When actual cost is captured for current year through a PO with AUD as Transaction Currency, Budget issues exceeded message even if budget is available in AUD Value as it calculates the exchange rate maintained from the first day of the "Current year" i.e 01/01/2014 but the current exchange rate values is higher then the old rates maintained on the first day of the year.

This causes inconsistency in budget available where in budget has to be increased to match the older exchange rate for AUD and USD.

Let me know if any customization needs changes in my settings.

Screen shot attached.


Budget Maintained - Over All
Co Currency - USD
OBJ Currency - AUD
Budget Currency - AUD


Thanks.

Accepted Solutions (1)

Accepted Solutions (1)

Paulo_Vitoriano
Active Contributor
0 Kudos

Have you tried the check mark Object Currency under Availability Control group of fields?  That is exactly to ensure that it will be same AUD, and not the Controlling Area currency.

Former Member
0 Kudos

Paulo,

I did not check mark Object Currency under Availability Control group of fields.

Now I tried the settings with check mark as told by you and it met my requirement & solved my query which I tested in the sandbox environment. Hope this will not have any impact if CO & Obj currency are SAME and also  with current operational projects having same existing budget profile getting modified.

Solution. On the budget Profile, check mark Object Currency under Availability Control group of fields.

Hope this solution helps in some way to others in future who gets the same issue.

Thank You Paulo rewarded .

Thanks Terence, Varshal and all who share your thoughts on my query.

Kudos !

Answers (3)

Answers (3)

Former Member
0 Kudos

Hi,

I have maintained CO Currency as budget currency in existing Budget Profile and I am not able to modify budget since its maintained in object currency. it pop ups error as budget settings changed and I am unable to modify budget.

Also when I tried to change the Exchange Rate type from M to P, maintaining budget currency as object currency and still when I return budget it uses the first day of currency exchange rate and pop up budget exceeded message.

Please share your thoughts !

Thanks

MTerence
Active Contributor
0 Kudos

Hi Aoron,

Do you have any custom program for currency conversion, just check it.

If this is not the case, I feel there is some thing wrong in finance configuration on exchange rate.

Check in OB07 whether the parameter Fixed is checked for the exchange rate type, but i prefer you to contact Finance consultant to cross check this issue.

I am not sure whether this can resolve the issue, but your issue can not be a PS issue.

Regards

Terence

Former Member
0 Kudos

Terence,

We don't have any custom program for currency conversion. It is manually entered.

In OB07, Parameter fixed is unchecked only. I will take advise from FICO on this.

If any body have faced the similar issue or have different ideas please share it.

Thank You !

MTerence
Active Contributor
0 Kudos

Hi Aoron,

Check out this thread, gives some information about exchange rate configuration.

Regards

Terence

Former Member
0 Kudos

Thanks Terence for the thread, It did not help me on my issue. Appreciate your response.

Former Member
0 Kudos

This message was moderated.

MTerence
Active Contributor
0 Kudos

Hi Aoron,

Just a suggestion... have you checked my maintaining the Budget profile at Controlling area currency ?

Regards

Terence

Former Member
0 Kudos

Terence,

I haven't checked by maintaining the budget profile at Co Currency, I will test it out.

Thanks

varshal_kachole3
Active Contributor
0 Kudos

Hi,

I believe you understand the consequences of changing the Budget Profile, specially for the Operational Projects.

Have you tested the IMCRC3 transaction before deciding on the configuration change?

Thank you and Regards,

Varshal Kachole

Former Member
0 Kudos

I plan to test it out in test environment before applying any solution for the issues I am facing on budget. I cannot change current budget profile as it will affect operational projects.

Plan to create a new budget profile and use it for the new projects to be created in future but the translation of currency should be correct if the obj currency is JPY/EUR/INR .. if the CO Currency is USD and budget in OBJ Currency.

Please advise on the config settings to maintain where translation will not fail during actuals and PR,PO Creation.

@ Varshal - When I tried running the IMCRC3 but for Recalculate Object Currency in Controlling Area Currency did not issue any error in test mode but the Convert Controlling Area Currency to Object Currency prompts error message saying Overall budget less than distributed budget

Thanks all..


varshal_kachole3
Active Contributor
0 Kudos

Hi,

Please try 9999 in the "Recal. From F.Years" to convert the Overall Period Currency as well.

It seems like you have only considered the FY for the revaluations.

Let me know the testing results.

Thanks and Regards,

Varshal Kachole

Former Member
0 Kudos

Hi Aoron,

Just change the Exchange Rate Type. Put the value date too followed by check on Remainder Translation.

Just check and let me know.

Regards,

Amit

Former Member
0 Kudos

This message was moderated.