The account setup in Model Manager includes the selection of Currency Conversion Process. The options available are Current or Historical.
I think I understand the accounting distinction between Historical or Current/Spot conversion. How does Prophix implement those differently? Current conversion seems to be working as expected using Month Average Rates populated in the FX cube. Historical conversion is giving us some unexpected results - converting 700K Native to (5K) CAD.
This is for a single month (BASE Time Perspective), so shouldn’t both of the Current and Historical conversion methods use the same single FX value in the FX for that month?
TIA!
Hi @jerry.sullivan, please take a look at the article below.
Historical currency conversion works on the basis of this formula in Prophix:
Its takes into account your current and prior period currency rates/ value. If you are noticing unexpected results, you will need to back track on your rates and native currency to figure out the problem. Please create a ticket with Support to look at this further
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Hi @sydney.hoareau,
That’s very helpful. Since we are getting different historical rates for the same month for companies that have the same local currency, I think that something is incorrect.
We have a call set up with Mohamed Makki of Prophix Support. Hopefully, he will be able to help us identify the problem.
Is the source from which you took that screenshot available online so I can review the entire article including the example?
Thanks much!
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FYI. We resolved this issue. Prophix was correctly performing the conversion using the formula you referenced. We had some incorrect data entered for the prior period when this company was added to our system.
Thanks again!
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Amazing! Happy to hear we were able to get this solved 
