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The following is an example of how the Current exchange rate works with MR. The first example is for an account that does not have a beginning balance. The second example shows an account with a beginning balance. You’ll see how the YTD amount is converted when there is a beginning balance and when there is not.
Exchanges rates being used are the same for Current, Average and Historical.
The account only has periodic balances and no beginning balance.
Account is set to use the Current rate type.
Columns B-D will show the periodic balance in USD.
Columns G-I will show the periodic balances in GBP.
You can see that each month is converted at the rate for that month. For January, 100 is converted using the rate of 1.5; February is 200 converted at a rate of 1.25; March is converted at a rate of 1.75.
But if we look at the YTD column, 150+250+525 is not 1,050. Because the account is set to use the Current rate type, the YTD balance is converted at the rate on March 31: 600 * 1.75 = 1,050.
If we drill down to the transaction detail level, things can look at little confusing.
The P1 total for GBP is 150, but if you look at the YTD column it has 175. This is because the YTD amount for P1 is 100 * the rate for P3 of 1.75. The YTD column will always use the rate for ending month, because this account is set to use Current for the Currency Translation Type. In this case, the YTD uses 1.75.
For an account with a beginning balance.
The YTD amount of 6,250 is still converted at the rate of 1.75, since that is the rate for March. MR takes the lump YTD amounts and converts it at the rate for March.
At the detail level, the BB amount is converted at the rate from the prior period. My account has a beginning balance of 250. The rate from the prior period is 1.1.
250 * 1.1 = 275
For the YTD column, only the beginning balance is converted at a different rate. The monthly amounts, in the YTD column, are all converted at March’s rate, since that is when the report is generated for. Because the account is using the Current translation type, it uses the rate of the current month (March).
The YTD amount for P1 is 1000 * 1.75 (P3 YTD rate) = 1750 + beginning balance of 275 = 2,025.
The YTD amount for P2 is 2000 * 1.75 (3,500) + P1 1000 * 1.75 (1750) + BB 275 = 5,525.
The YTD amount for P3 is 3000 * 1.75 (5,250) + P1 1000 * 1.75 (1750) + P2 2000 * 1.75 (3,500) + BB 275 = 10,775.
For the Periodic columns (columns 1, 2 and 3), each period is converted at that month's rate.
The P1 column is 1000 * 1.5 (P1 monthly rate) = 1500.
The P2 column is 2000 * 1.25 (P2 monthly rate) = 2500
The P3 column is 3000 * 1.75 (P3 monthly rate) = 5250
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