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Adaptive Tips & Tricks: Consistent Currency Reporting

Posted by Martin Begley | Feb 14, 2018 8:41:00 AM

The problem with exchange rates is thay they fluctuate and affect variances between plans and versions.  Find out below how to fix this problem! 

Exchange rate fluctuations can make analysis of data variances look better or worse based on the change in rates instead of the actual variances of the metrics reviewed. Utilizing a "Consistent Currency" methodology removes the effects of exchange rates to give you an accurate view of your business' performance. With virtual versions, you can use the exchange rates of one plan with the data of another. 

A virtual version is a read only version that uses the data of one version and the exchange rates of another version, or a different time frame. In the virtual version you see the data modified by the exchange rate you choose. 

To report variances of budget to actuals with consistent currency, build the report with the new virtual version and the version you chose for the exchange rate of the new virtual version. 

To create a virtual version:

  • Go to Modeling -> Model Management -> Versions 
  • Click on the 'Create New Virtual Version' icon. Give the new version a name, and select 'Actuals' as the base version. 

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  • Then click the 'Edit' link to select the exchange rates of the budget version. 

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  •  Next create a matrix report using the virtual version and compare that to your budget version. 

This report will now display data from the actual version that is modified by the exchange rates of the budget version. In doing so, exchange rate fluctuations of different versions do not impact the variances on the report, instead, the variances are compared using consistent currency.

 



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Written by Martin Begley

Martin Begley, CISA, is the Director of Business Solution Partner's Adaptive Insights Practice. As a Certified Information Systems Auditor (CISA), he specializes in helping businesses meet strategic goals through the design, implementation and execution of performance management strategies, technology solutions, and corporate policies and procedures.

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