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GLLEZL : Incorrect Currency Conversion Date When Currency Conversion Rule is "Use Last Rate" Causes Consolidation Import Warning: ECW1,EC06 (Doc ID 2328909.1)

Last updated on MAY 13, 2018

Applies to:

Oracle General Ledger - Version 12.2.5 and later
Information in this document applies to any platform.
GLLEZL
ECW1,EC06

Goal

This is about the currency conversion date with respect to Business days and non-Business days.

1. Enter a journal in the primary ledger with functional currency with non-Business day effective date (example a weekend day which has no defined rate) and post.
2. Journal is created in secondary ledger and converted to secondary ledger currency using the currency conversion rule (rate from daily rates table for last previous date where a rate exists).
3. This rate for this previous day ( which happens to be a business day) is used in the secondary journal conversion rate, but the journal conversion date is that of the non-business weekend day.
The expectation is that it should be the same date as the date of the rate used, i.e. the business day.
4. Because the currency conversion date is for the non-business day on the journal, the consolidation import process ends in warning as there is no rate for the weekend end day.

EC06 There is no conversion rate for this currency, conversion type and conversion date.
ECW1 Warning: Converted Amounts could not be validated because the conversion rate is not specified.
 

Solution

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