Create a new Currency Conversion Rate Table
- It is a best practice NOT to update the table referenced in previously launched forms. You can import last year’s table and then update the rates in Admin tools when you are ready prior to your launch.
- Note: This only applies to customers using forms configured to use multiple currencies
- Updates to a currency conversion table after forms are launched are dynamic. Any changes in the table will impact completed forms. For this reason you should always create and link new tables to every new compensation program you create.
- Currency conversion rate tables are uploaded to the system via a CSV file. The currency conversion rate table for Variable Pay is different than the one used for the Compensation module. Multi-currency views – Functional Currency (USD), Employee Local Currency, and Other – depend on this information.
- Currency conversion tables support rates with up to 15 decimal places of precision. It is recommended that all currency conversion rates have a precision of no less than 5 decimal places.
- Legacy Admin Tools> Compensation Administration: Manage Currency Conversion Rate tables
- One Admin> Compensation> Manage Currency Conversion Rate Tables
- Export the table used for prior cycle
- Click on Name to view conversion rates
- Scroll to the bottom, Click Export to export and save the table
- Click Up To All Conversion Tables to return to the list
- Type the name and description of your new table. Click Create
- Click on the new table name
- Browse to the file that you just saved, or to your new currency rates and click Import
Notes about Currency Table Import format:
- File should be csv format, with no header row
- Conversion rates should be numeric, with no currency symbol or comma separators
- Import should always be a full file, and will replace the current version
- Currency codes supported by SuccessFactors is attached
- When using the “Planner” currency option, exchange rates must be included for all possible currency combinations – e.g., if there is a compensation planner in EUR who has employees in GBP, a conversion rate for EUR to GBP must be included so the currency conversion can operate properly.
- Currency conversion rates can have a precision of up to 15 decimal places, and should have a precision of no less than 5 decimal places.
- Only one currency rate may be defined per currency pair – e.g., if there is a EUR to USD rate, there should not be a USD to EUR rate.
Variable Pay currency conversion rate tables are imported into SuccessFactors at: Admin Tools > Compensation Home > Actions for all Plans > Currency Conversion Table.
- It is now mandatory to have a Currency Conversion Rate Table in Variable pay module.
- The table need not to contain any data but there should be a table in the system.
- The default table name is COMP_CURRENCY_CONVERSION
- If in the past you never used Currency Conversion Rate tables then you should create a table named COMP_CURRENCY_CONVERSION in the system.
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