Occasionally you may require an analysis of files from various years using a fixed exchange rate. This will enable an analysis which ignores fluctuations in exchange rates. In IFP this can be achieved by creating a fixed exchange rate table and applying this to any files within a report.
Setting a Fixed Rate
- From IFP Home select Databases/Files > Database Manager
- Select Exchange Rate Tables and click Add. Select an unused exchange rate code and give it a suitable custom name e.g. 2012 Plan Fixed Rates
- Click Edit Rates
- Select the correct currency e.g. US Dollar
- Highlight all months and years and enter the plan rate; in this example1.02760
Save the changes
Creating a Report Using Fixed Exchange Rates
This method can be used on any report type - in this example we will create a File Summary Analysis.
- From IFP Home select Reporting > File Summary Analysis
- Select Custom File Selection and select the required files.
- Set the exchange rate table to 2012 Plan Fixed Exchange Rates. Click Next.
- Select a report definition if required. Click Next
- Make the required Item Selections. Click Next
- Select the currency used for the fixed exchange rates table and select the level of detail. Click Next.
An example report is shown below:
For more information on Exchange Rates, see How to Create and Edit Exchange Rates.