FX Rates
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      3. FX Rates

      How do I Utilize FX in Occupier?

      Entering FX rates and how to update the amortization schedules

      The accounting module currently supports the conversion of lease amounts into your reporting currency using foreign exchange (FX) rates.

      This article will explore the various types of exchange rates and provide guidance on how to effectively update your lease accounting schedules with the appropriate foreign exchange (FX) rates.  

      We'll also cover the FX gain/loss journal entry process and the FX features available at the lease level.

      Understanding FX rates and how they are applied to the amortization schedule

      Listed below are the FX rates required to translate your amortization schedules into the reporting currency and any unrealized gain/(loss) on FX.

      • Historic rate at commencement:  The exchange rate at the Lease Commencement.  Used to establish the lease commencement date values. 
      • Avg. exchange rate during period:  The exchange rate used in which the lease and interest expense is recognized.
      • Period end exchange rate:  The period end exchange rate used to calculate the unrealized gain/(loss) on FX  for the amounts associated with the lease liability balance. 
      • Rate at termination or a modification event:  The exchange rate on the date of the termination or modification event.  Recalculates the values of the ROU asset and Lease Liability and any unrealized gain/(loss) FX amounts associated with the lease liability balance. 

      Entering the FX Rate at Commencement

      If the lease currency is different from the reporting currency of the Legal Entity, the lease wizard will prompt you to enter an FX rate at the commencement date during the initial measurement process in step 1.

      • After completing the measurement inputs, the amortization will calculate the lease in both the lease currency and reporting currency.
      • To toggle between the two currencies, select the currency button located to the right above the amortization schedule.



      Updating FX Rates  

      At a period end, enter any FX rates into the FX table to update your amortization schedules and calculate any FX unrealized gain/(loss) journal entries.

      • Go to Accounting>FX Rates
      • Select the Source Currency (Lease's currency) and the Target Currency (Reporting Currency)
      • Select the Add Rate button

      • The Add Exchange Rate window will display
        • Average Rate:  Enter the Start Date and End Date and rate
        • Spot or Period End Rate:  Enter the Start Date, leave the end date blank and rate
        • Select the Submit upon completion

        • If you have a high volume of FX rates to enter, you can also import these rates by following the instructions outlined within this article:  How do I Import FX Rates?
      • Once FX rates are entered, any amortization schedules using the applicable FX rates will automatically be updated and any FX unrealized gain/(loss) journal entries will be created.

      • Occupier automatically defaults to the last entered rate based on the rate type for future periods and for any missing rates.
      • To view the list of all entered FX rates, simply click on the FX Rates button to the right of the amortization schedule.


      • Choose a fiscal year from the dropdown menu to access exchange rates for previous years.
      • Click on the Show Missing Rates button to display a list of all entered exchange rates, including those that have not been entered.