Enabling the Foundations Exchange Rates Integration Feature

This feature enables Accounting to use exchange rates that are set up and managed in Foundations.

Note:

• This feature approximately supports the following maximum company and currency volumes:
  • Maximum number of companies: 97.
  • Maximum number of currencies: 100.
• Before running the Foundations job to migrate from Accounting Exchange Rates to Foundations Exchange Rates, you must post all of the pending invoices and journals that have exchange rates.
• Only current exchange rates are transferred to Foundations. The Accounting exchange rate history is not migrated to Foundations. After the Feature Console update, the original Accounting Exchange Rate History is lost and only the Foundations Exchange Rates are valid. The customer must either manually update and add any Exchange Rates or Exchange Rate History records or manually load Exchange Rate History records into Foundations. The Foundations job can only download Exchange Rates starting on the day that the migration occurs. To learn how to view the exchange rate history in Accounting, see Managing Exchange Rates.

If you have this number of companies or currencies or more on your org, please contact Certinia support before proceeding.

To enable the Foundations Exchange Rates Integration feature:

1. Click the Feature Console tab.
2. Click Foundations Exchange Rates Integration to view the feature steps.
3. Click Perform next to feature step 1 to create the Accounting Integrations - FDN Exchange Rates permission set. This permission set enables users to view and edit the Exchange Rate Group field on the Company object.
4. Manually assign the Accounting Integrations - FDN Exchange Rates permission set to the relevant users. For more information about assigning a permission set to users, see the Salesforce Help. When you have completed the task, click Mark as Done next to feature step 2.
5. Update the relevant managed Accounting Company page layouts to include the new Exchange Rate Group field and remove the Accounting currency fields and button. To do this, click Perform next to the relevant feature step:
   • Feature step 3 - COMB Company Layout.
   • Feature step 4 - GST Company Layout.
   • Feature step 5 - SUT Company Layout.
   • Feature step 6 - VAT Company Layout.
6. Follow the instructions in feature step 7 to make changes manually to the following items and click Mark as Done when complete:
   • Update custom page layouts: Feature step 3 - COMB Company LayoutFeature step 4 - GST Company LayoutFeature step 5 - SUT Company LayoutFeature step 6 - VAT Company Layout.
   • Update the Salesforce Mobile and Lightning Experience Actions section of the relevant Accounting Company page layouts to remove the Change Exchange Rate Mode button.
   • Update compact page layouts: Add the Exchange Rate Group field to the Selected Fields list. Remove the Use Org-Wide Exchange Rates and Org-Wide Effective Date fields from Selected Fields list.
   For more information about editing page layouts and compact layouts, see the Salesforce Help.
7. Click Perform next to feature step 8 to activate the relevant currencies in Foundations, based on the existing currencies that are set up in Accounting.
8. If you have already created exchange rate groups in your org, follow the instructions in feature step 9 to review and update their names, if required. When complete, click Mark as Done.
9. Click Perform next to feature step 10 to create and assign the relevant exchange rate groups in Foundations, based on the existing company-specific and org-wide exchange rates in Accounting. When a group for org-wide rates is created, the default currency is taken from the org's dual currency.
10. Click Perform next to feature step 11 to create the relevant exchange rates in Foundations, based on the latest valid rates in Accounting. All rates are created as Commercial rate types. We recommend that you review the exchange rates when you have enabled the feature and update them, if required.
11. If you use currency revaluation in your org, follow the instructions in feature step 12 to configure your exchange rate groups to include additional exchange rate types. When complete, click Mark as Done.
12. Click Perform next to feature step 13 to finalize the setup. When complete, Accounting will be updated to use only Foundations exchange rates.
13. When all steps are complete, use the Status slider in the Feature section to enable the feature.
    

Notes:

• When you perform step 10, an org-wide group will not be created if there are multiple dual currencies in the org that have been assigned to companies which are set up to use org-wide exchange rates. In this situation you must create the org-wide group manually, select the default currency for the group and assign the relevant companies to the group.
• When you perform step 11 and there are multiple dual currencies in the org that have been assigned to companies which are set up to use org-wide exchange rates, the exchange rates in the org-wide table will not be automatically transferred to Foundations. You must manually update the org-wide group with the exchange rates you require.

Setting up the Currency and Exchange Rates Feature in Foundations

There are additional setup steps that you must carry out in Foundations to enable you to manage exchange rates. These are:

• Grant the permissions required to use the Foundations Currency and Exchange Rate features.
• [Optional] Set up your org to receive rates from an external rate provider.

To learn how to complete these steps see Setting up Currency and Exchange Rates Features in Foundations.

Reviewing Exchange Rates in Foundations

By enabling the Foundations Exchange Rates Integration feature, Accounting automatically creates the relevant exchange rates in Foundations, based on your existing exchange rate setup in Accounting. We recommend that you review the exchange rates that are automatically created to ensure they are configured as expected. For more information, see Foundations Currency and Exchange Rates Overview.

The following table describes how the rates are migrated:

Rates Migration Table

Field	Value
Effective Date	The effective date from the accounting rate.
Exchange Rate Type	Commercial
Rate	The rate from the accounting rate.

Creating additional Exchange Rates in Foundations

You can create additional exchange rates in Foundations if required. For more information, see Creating Foundations Exchange Rates.

All exchange rates that are created automatically when you enable the Foundations Exchange Rates Integration feature use "Commercial" as the exchange rate type. Currently, Accounting primarily uses the rate type "Commercial", so ensure that you create a "Commercial" rate type for all new exchange rates that you add.

Accounting currency revaluation enables you to use additional rate types (for example, Average, Spot, Closing) when processing currency revaluations. For example, you can now carry out revaluations using:

• The average exchange rate for Income Statement accounts.
• The closing exchange rate for Balance Sheet accounts.
• The translation exchange rate for "Home to Dual" Translation.

For more information on rate types, see Foundations Rate Types Overview.