Many companies choose OANDA as the source for FX rates as they are a reliable, well-trusted rates provider. They publish Market Rates for every tradeable currency. There is a large amount of information available on OANDA’S website: https://www1.oanda.com/fx-for-business/historical-rates. Therefore, if you are checking rates, be sure...
When loading FX rates into Oracle it is important to consider the date that you will be loading the rates into. This may be influenced by where in the world users are based; and also, by the time that the rates are published by your...
It is important to carefully consider which currency exchange rates you actually need when choosing which ones to load into your ERP. Whilst loading more FX rates than you require may appear to be harmless, it can cause unexpected problems. Why limit the number of rates...
FXLoader FXLoader is a cloud application that integrates currency rates, from leading sources, into Oracle ERP Cloud (Fusion) and other ERP applications. It is currently the top-ranked app on the Oracle Cloud Marketplace. Oracle PaaS Oracle Platform as a Service (PaaS) provides Oracle technology components on Oracle Cloud. FXLoader on...
Many companies standardise on a certain number of decimal places when they use currency rates. However, this can be dangerous for low value currencies, creating very inaccurate rates or even rates of zero. But what’s the difference between decimal places and significant figures? When rounding to a...
Release 13 Most of our clients using Oracle ERP Cloud, or Oracle Sales Cloud, are currently (October 2017) on Release 12. In fact, some of them are in the process of being upgraded to Release 12, or have only just moved there. For these clients, Release 13...
Oracle ERP Cloud (aka Financials Cloud or Fusion) has extensive multi-currency functionality, as you’d expect. This post looks at the basics of how this works, for transactions and their resultant balances. Ledger Setup The balances for all accounts are held against a ledger. These balances are updated by...
Let’s assume you are accounting quite happily for your single company, transacting in your single ‘home’ currency only. Let’s assume you’re in the US, so everything is dollars. Of course you may buy the occasional item or service priced in a foreign currency, but you buy...
I’ve been to various Oracle User Group conferences, as a presenter, exhibitor and a regular attendee looking to learn as much as possible. Collaborate is definitely my favourite. It’s a joint conference put on by three user groups: OAUG (Oracle Applications User Group) – Oracle applications, especially...
So you have a multi-currency ERP/accounting application. It has a place to enter FX rates and great functionality to use them for converting transactions, revaluations, etc. But where should you get those rates from? Most accounting principles allow a market rate to be used, for the...