Assets Linked to Secondary Ledger With Different Currency Are Getting Wrong Conversion Rate (Doc ID 2996648.1)

Last updated on JANUARY 09, 2024

Applies to:

Symptoms

Assets linked to  Secondary Ledger with a different currency are getting the wrong conversion rate.

Customers are using Oracle Projects to create Assets and need those assets to be represented in Currency1 and USD, therefore created a Primary Ledger in Currency1 linked to the Corporate Book and a USD Secondary Ledger linked to the Tax Book

All Fixed Assets from a subsidiary acquired in a foreign currency have to be converted into USD for reporting purposes, those USD amounts must remain unchanged which means that for the CIP account used in Projects, a conversion is made every time they add cost to the project so that amount booked to the CIP account must not change, meaning that when the asset is placed in service, the USD amount should be the same as the CIP amount. The system is converting the amount based on the DPIS rate.

The issue can be reproduced at will with the following steps:
1. Add Assets from Projects
2. Navigate to Asset -> Additions Dashboard
3. Click in the Draft Asset

Cause

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