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    Ashok
    Tip: How Check Funds works in a multi-currency scenario for...
    Topic posted September 15, 2019 by AshokBlack Diamond: 60,000+ Points, tagged Budget/Encumbrance, Create Requisition, Tip 
    20 Views, 4 Comments
    Title:
    Tip: How Check Funds works in a multi-currency scenario for a budget controlled requisition
    Summary:
    Tip: How Check Funds works in a multi-currency scenario for a budget controlled requisition
    Content:

    Customers / Support

    There were a couple of questions in this area in the recent past in our internal forums. I thought this tip might be helpful if you are not already familiar with the same.

    Context:

    The symptom that caused this question was an error submitting a budget controlled requisition for approval: Missing Currency Conversion on transaction

    Steps the customer followed:

    1. Create a requisition

    2. Added project details

    3. Submitted requisition for approval

    4. Funds check failed with the missing currency conversion error

    Analysis:

    The first check the customer did was to check if a currency conversion was defined between the requisition's functional currency and the budget currency. This came back positive, i.e. a conversion rate was present.

    On further detailed analysis, my colleague found the following issues:

    1. The conversion rate type on the control budget was not the same that was used on the requisition

    2. The budget date though has to also be considered was moot here because of 1.

    Conclusion:

    Concept: The check funds  process will attempt to convert the requisition amount to the control budget currency using the rate type in the control budget and the budget date entered in requisition distribution.
    So when you encounter an error, first ensure that the rate type used between the control budget and the requisition are the same and secondly that a rate has been defined for the budget date on the distribution.

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