HFM Currency Translations to USD
We are using the standard translation rules in HFM and have the Apps settings for Balance Sheet at "ClosingRate" and FlowAccounts at "AverageRate" We load both "CrossRates" in the accounts
One of the sub groups in our consolidation have Entities with the following currencies: (It's Parent Currency is also USD)
USD - US Dollars
GBP - UK Sterling
BWP - Botswana Pula
ZAR - SA Rands
In this group, all translations take place from GBP, BWP and ZAR and consolidates to the parent in USD correctly.
We now also have single Entities in Burundi and Zimbabwe, which have Huge numbers loaded in the accounts with a corresponding weak dollar exchage Rate. (Zim HyperInflation already done outside HFM)
We are not getting the required values in HFM that the client get in Excel (Previous Consolidation Tool) and the differences is unexplained.
Since no rules are written for this in HFM, is their something in the system that need to be checked, taking into account the other group above with different currencies and relatively stronger exchange rates that do return the required results?
We do have a rule in "Sub translate" for the TransCur which calculates the variance of ClosingRate and HistoricRate for ShareCapital, which calculates correctly for the Burundi Entity-This tells me that the ClosingRate in HFM is correct. The base data is also correct. What else can it be???? Please help someone...as I cannot get to a group consolidation with this issue not resolved.