Project cost and revenue planning in object currency

[moazzammubarak]

Hello everyone

I'm relatively new in PS and have a question regarding translation of project costs and revenue plans maintained in object currency to the CO currency.

So I've done the config to plan projects in Object Currency using exchange rate type 'P' which is my planning exchange rate type. I haven't maintained any entry in the value date as F1 Help on value date says that if you don't mention anything in the value date field it would pick up my planned exchange rate as on first of the month to which my plan belongs and that's what i want (i hope i correctly understood).

I've created a planning profile which allows planning in object currency. I then maintained exchange rate 'P' for all months for which i want to maintain my planned costs and revenues (all rates are dated first of the plan months).

The issue is, when I enter planned costs and revenues in any month using the above settings, my planned costs and revenues are translated using my planned exchange rates as on January 1st of the respective year (for example,  Feb 2014 values are being converted using P rate on 01.01.2014 and Aug 2015 values are being converted using P rate as on 01.01.2015. Can I please get some guidance what else to configure so that my plan values use P exchange rate as on 1st of those respective months.

Thanks for your time and help!

[moazzammubarak]

Hi all

Can anybody give me any pointers?

Thanks a lot

[sammar81]

Hi Moazzam,

In your plan profile in OPSB check for Value Date and see if it works.

Regards

Sammar.

[moazzammubarak]

Hi Sammar

Thanks for your response. I have just maintained my planning rate type 'P' in OPSB because I have monthly planned exchange rates and the business wants to use those respective rates for every month's plan numbers when we plan and distribute amounts to every month. I understand that if I maintain a fixed value date in OPSB, rate on that single date would be applied to plan numbers for all months.

What gives me a clue that it is possible is F1 help on the value date (please see screen shot). It means the option is available, I just don't know how to configure it and hoping someone else does.

Thanks for your time

[sammar81]

Hi Moazzam,

Yes you are correct. in F1 help it does states that if the value is left blank it take the currency rate by period. whats not clear is that which period it takes.. is it the first period which is maintained as it is happening in your case..

And if you go on the path of maintaining the value date.. i think then you have to do it every month end /start of new period.. which is clearly not a robust way of doing things..

Let's wait for others to pitch in...

Regards

Samar