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Exporting Functional Currency Balances in Oracle ARCS 

Problem Description

In Oracle Accounts Reconciliation Cloud Service (ARCS), the Functional Currency Balance will display the currency code as a suffix to the value (number). This isn't ideal.

 

Oracle Qubix: ARCS Exporting Functional Currency Balances

 

This column has been set up as “Text” in the database, and hence, whenever you export these balances to Excel, the respective currency code will also appear as the suffix.

 

Oracle Qubix: ARCS Exporting Functional Currency Balances

 

Business Needs

Often power (super) users export data to Excel to complete period-end reporting related to the account reconciliation process. The export happens multiple times during the close cycle. The current export from the ARCS application makes it challenging for the reporting manager to use the exported data. This is because the raw format amount column will appear as a text column, and display the currency code as the suffix.

To overcome this, the user will have to perform a manual manipulation in the Excel file, to detach the currency code from the balances, and convert the balances to a number from the text.

Currently, there is no out-of-the-box solution available in ARCS to solve this requirement.

 

Qubix Solution

Qubix has developed a solution to handle such scenarios in ARCS. You can achieve this by using a custom attribute in ARCS, and by adding a static exchange rate of 1 to each currency code.

 

Oracle Qubix: ARCS Exporting Functional Currency Balances

 

 

Technical Implementation

  • Create a static exchange rate account type.

Oracle Qubix: ARCS Exporting Functional Currency Balances


This rate type will always hold 1 as the value, and will have the same currency code in the “From Currency” and “To Currency” columns.

 

Oracle Qubix: ARCS Exporting Functional Currency Balances

  • Create a calculated attribute to translate each functional currency value using the exchange rate of 1


Oracle Qubix: ARCS Exporting Functional Currency Balances
Note: Ensure you add all currencies to the calculation script.

  • You can now see the default currency column, and the calculated attribute column displayed on the screen.
Oracle Qubix: ARCS Exporting Functional Currency Balances

 

When you export the columns displayed above into Excel, you will notice that the calculated attribute is exporting the data as a number and not text. Also, you will see currency code suffix is gone.

For the Reporting Currency balances, you can use the drawer for Reconciliation Balances within Reconciliation card. This screen would display the currency code separately from the balances.


 

However, this functionality is currently available only for the Reporting Currency and not for the Functional Currency. For the Functional Currency balances, currently, you would have to rely on a custom attribute (as mentioned above).

 

To find out more about how we can help you with your accounts reconciliation processes, you can learn more here.

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Dipen Shah

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Dipen Shah