How to configure FX simulation in GCR

Center of Excellence
Center of Excellence Employee
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1. Abstract

Board Group Consolidation and Reporting (GCR) is our statutory and managerial consolidation tool. In GCR, you can run consolidation based on accounting data, but also based on data coming from any other sources for planification purposes (such as budget & forecast). Here, we are talking about different sets of data which are collected, so different scenarios in the application.

Using a unique set of data, you can run in parallel multiple consolidation type such as the complete group, sub groups, managerial or geographical groupings, fiscal integrations and so on. Here, we are talking about consolidation nodes.

Consolidation nodes can also be used to generate automatically simulation consolidation such as Budget rate or Constant rate.

2. Context

In this How To guide, we will guide you through the process from the creation of the consolidation node to the very last step which is the reporting. Steps are the following :

  1. Creation of conso node currency
  2. Creation of Node
  3. Load scope
  4. Load FX Rates
  5. Run conso
  6. See impact in Reporting

3. Content

3.1 Assumptions & disclaimers

In this How to, we will impersonate a GCR admin of an application which is already live.

The need is to create an automated simulation consolidation of Actual data at Budget rate.

We will be reporting only the P&L. Please, keep in mind that if you need to report also balance sheet, you will need to generate opening, to do so, populate scope & FX rates + run conso first for previous year, then run carry forward, and reiterate on current year.

If adjustments have been booked in node currency (Layer 7) please note that they will have no impact in your new node. They may need to be duplicated.

3.2 Configuration

As an administrator, only two steps are required :

  • Create the conso node currency
  • Create the consolidation node

Within Board Admin capsule, both are done in the same time. In the Admin capsule, open screen “Conso Node Settings”. In that screen, you can use the second tab to create your new consolidation node and new currency through a smart import:

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Here, we created a new node called “PROFORMAT_BRATE”. It requires a new Conso Node Type as it will share the same holding as the total Group node.

Note that the currency of this node is also EUR but we need to create a new one which is EUR_BUD as it will be used to Input/Load another set of FX rates from each currency to EUR.

3.3 Collect Scope & Fx rates

As a central user, you will then need to populate the scope and FX rates for GCR to be able to consolidate local data within those new settings.

To collect scope, go to “Group Structure” screen and load the exact same scope as for the node that you want to mirror:

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To collect FX rates, go to “Currency Rates” screen and load/input the fx rates from each local currency to the new node rate you created:

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3.4 Run consolidation and see results

As a central user, next step is to run the variant/simulation consolidation though the “Conso Dashboard” screen:

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Once the consolidation is done, you can just see the results in the reporting:

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If needed, you can then build customized reports to compare by columns both consolidation nodes:

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