Calculating the fourth currency

The Fourth Currency Upgrade function initiates the use of Value 4 within a live business unit, and can generate a fourth currency value on historical ledger transactions. It may be necessary to use the Fourth Currency Upgrade because Business Unit Setup does not allow you to define a fourth currency once the business unit has transactions posted in it.

Fourth Currency Updgrade can process the actuals ledger, and all budget ledgers. Budget ledgers are processed together, selectable separately from the actuals.

If the fourth currency is not already defined on the business unit setup, then part of this process defines the fourth currency along with its posting rule for the business unit.

Fourth Currency Upgrade checks whether any fourth currency values already exist, as it is possible to run the process many times. If entries already exist, you must confirm that you want to overwrite those Value 4 entries. If you click Yes, the whole process is run as if the existing entries were not there, and it therefore overwrites them. If you click No, the existing entries are left as they are and only transactions which lack Value 4 entries are considered for updating.

The fourth currency upgrade function creates a log file called VAL4C_DATE_TIME.LOG in the SunSystems program directory, to report on the process, and to indicate any errors found.

On the Value 4 Calculator form, you can specify a fixed currency for the fourth currency value, so that all transactions are given a fourth value in that currency. Alternatively, leave the 4th Currency Code blank to define the fourth currency as variable, so that each transaction can take a different currency for Value 4.

If you define the fourth currency as variable, then the currency code used in the calculation is obtained from the Chart of Accounts (COA) record for each individual transaction line. If the Default 4th Currency Code is blank on the chart of accounts record for a transaction, then the fourth currency value is left blank for that transaction. In this case, if the posting rule is selected as 1-Only Present If Entered, the blank currency code is not reported on the log report file; otherwise, if the posting rule is selected as 3-Calculated If Not Entered, then the missing currency code is reported as an error. In either case, the process continues.

If the fourth currency upgrade is successful, two messages are displayed: the first displays the number of ledger records updated, and the second displays the number of balancing ledger records created.