Period Average Rates Added to FXLoader Cloud Service

The FXLoader Cloud Service loads currency exchange rates into Oracle Cloud Applications and now supports period average rates.

Period Average rates are frequently needed in Oracle ERP Cloud for the GL Translation process, but may also be a policy for some companies for other types of foreign currency conversion.

FXLoader Cloud Service already supports Daily Rates from their providers, plus Period End rates which are typically the Daily Rate for the last day of the period, but loaded into a different rate type in Oracle.

Period Average rates are calculated from Daily Rates already loaded into FXLoader from the chosen rates provider; OANDA, Xignite, Reuters or the European Central Bank. Different types of average rates are supported:

  • Period -To-Date – average for the period up to the current date or end of the period
  • Quarter-To-Date – average from the start of the fiscal quarter up to the current date or end of quarter
  • Year-To-Date – average from the start of the fiscal year up to the current date or end of the year

Your accounting periods, quarters and years are supported  based on calendar months, 4/4/5, 4/5/4 or 5/4/4 periods. Years and quarters are based on your accounting year start date.

FXLoader Cloud Service allows you to configure the frequency of runs based on calendar or accounting period, quarters and years.