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Hi Everyone, 

We would like to have an easy workflow and process for compering Budget USD salaries at budget FX rates vs Budget USD salaries at actual FX rates. Is it a right approach to create a FX version dimension like FX actuals, FX forecast, FX budget etc? Or is it more efficient to utilise our current Version dimension and once we have a budget version we just make a copy of it and update FX rates in that version based on actuals to get the re-calculated USD budgeted salaries as per most recent rates? So the use case is: having an easy way to understand the FX impact in the BvA report.

Example:
Employee with 10,000 EUR salary
Budget EUR/USD rate: 1.2
Budget USD: 12,000 USD salary

Netsuite Actuals EUR: 10,000 EUR salary (same)
Netsuite EUR/USD rate: 1.3
Actuals USD: 13,000 USD Salary

BvA = (1000) USD

We would like to then easily explain to budget holders that this 1,000 USD overspend is pure FX and not their "real" action on spending more. Thanks!

Hi,

 

our WFP template is indeed set up for that as the FX is attached by versions.

The easiest to remove FX impact is to create another Budget version and put the Actuals rate in there.

Else you can build some metric to recalculate the Budget @ the actual rate with a formula. A bit more work but more efficient (you don’t have a version just for that)

Thanks @Nathan! If I ready correctly what you wrote I would need to create a block in the Budget Version which is looking at Actuals rates, correct? So one would be @ budget FX rate and this would be static (signed budget) and the new block would be checking last actuals month and apply actual FX rate in the Budget Version. Is that what you suggest? 

Yes you can force the rate logic to take the Actuals rate doing a

FX Rate[select:Versions.”Actuals”]

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