GL Daily Conversion Rates

GL daily conversion rates 

GL_DAILY_RATES_INTERFACE is used to create, update, and delete daily conversion rates.

You can use this table to load rates into the GL_DAILY_RATES table. 

To use this table to insert/update rates into GL_DAILY_RATES, insert rows into it with a FROM_CURRENCY, a TO_CURRENCY, a FROM_CONVERSION_DATE, a TO_CONVERSION_DATE, a USER_CONVERSION_TYPE, a CONVERSION_RATE, a MODE of 'I', and optionally, an INVERSE_CONVERSION_RATE.

Oracle General Ledger will automatically create rows in GL_DAILY_RATES for each date between the FROM_CONVERSION_DATE and the TO_CONVERSION_DATE, using the specified FROM_CURRENCY, TO_CURRENCY, USER_CONVERSION_TYPE, and CONVERSION_RATE. 

It will also automatically insert the inverse rows, switching the FROM_CURRENCY and TO_CURRENCY and using the INVERSE_CONVERSION_RATE, if provided, or otherwise, taking the inverse of the CONVERSION_RATE provided.

If these rows already exist, it will update these rows with the new rates instead. 

For example, if you specified a FROM_CURRENCY of USD, a TO_CURRENCY of CND, a FROM_CONVERSION_DATE of January 1, 1997, a TO_CONVERSION_DATE of January 3, 1997, a USER_CONVERSION_TYPE of Spot, a CONVERSION_RATE of 1.377, an INVERSION_CONVERSION_RATE of NULL, and a MODE of 'I', Oracle General Ledger will automatically create three rows in GL_DAILY_RATES with a FROM_CURRENCY of USD, a TO_CURRENCY of CND, a CONVERSION_TYPE of Spot, a CONVERSION_RATE of 1.377, and with CON
VERSION_DATEs of January 1, 1997, January 2, 1997, and January 3, 1997.

It would also automatically create the three inverse rows in GL_DAILY_RATES with a FROM_CURRENCY of CND, a TO_CURRENCY of USD, a CONVERSION_TYPE of Spot, a CONVERSION_RATE of 0.7262, and with CONVERSION_DATEs of January 1, 1997, January 2, 1997, and January 3, 1997. 

To use this table to delete rows from GL_DAILY_RATES, insert rows into it with a FROM_CURRENCY, a TO_CURRENCY, a FROM_CONVERSION_DATE, a TO_CONVERSION_DATE, a USER_CONVERSION_TYPE, a dummy CONVERSION_RATE, and a MODE of 'D'. Any rates in GL_DAILY_RATES with a date between the FROM_CONVERSION_DATE and TO_CONVERSION_DATE and with that FROM_CURRENCY, TO_CURRENCY, and USER_CONVERSION_TYPE will be deleted automatically. The corresponding inverse rows will also be deleted.

The insert/update/delete is all done automatically by database triggers on GL_DAILY_RATES_INTERFACE. 

No import programs need to be run. Note that when inserting into this table, you must specify the USER_CONVERSION_TYPE, not the CONVERSION_TYPE.

Oracle General Ledger will automatically convert the USER_CONVERSION_TYPE to the CONVERSION_TYPE when it maintains GL_DAILY_RATES.

This interface lets you load the rates automatically into General Ledger.

Pre-requisites: Currencies Conversion rate Types 

Interface tables: GL_DAILY_RATES_INTERFACE 

Base tables: GL_DAILY_RATES GL_DAILY_CONVERSION_TYPES 

Concurrent Program: You do not need to run any import programs. The insert, update, or deletion of rates in GL_DAILY_RATES is done automatically by database triggers on the GL_DAILY_RATES_INTERFACE. All that is required is to develop program to populate the interface table with daily rates information. 

Validations: Check if FROM_CURRENCY and TO_CURRENCY are valid. Check if USER_CONVERSION_TYPE is valid. 

Important Columns: Some important columns that need to be populated in the interface tables: GL_DAILY_RATES_INTERFACE: 

FROM_CURRENCY 

TO_CURRENCY 

FROM_CONVERSION_DATE 

TO_CONVERSION_DATE 

USER_CONVERSION_TYPE 

CONVERSION_RATE 

MODE_FLAG (D= Delete, I = Insert, U = Update) 

INVERSE_CONVERSION_RATE 

GL'S INTERFACE TABLES