Bitta Commission guide
Multi-currency
The MULTI_CURRENCY module: currency setup and rate date rules, measure currency rules for foreign sources, settlement in participant currencies, FX rate snapshots, FX adjustments, currency corrections and rounding.
status: verified applies-to: 1.1.2.0rev: 1
Bitta Commission keeps its ledgers in company local currency (LCY). The Multi-currency module (MULTI_CURRENCY) adds what international teams need: foreign-currency sources measured through dated rate rules, settlement lines paid in the participant's own currency, frozen exchange rate snapshots as evidence, and FX adjustments for realized, unrealized and rounding differences.
Commission Currency Setup controls settlement conversion and the rate date rules.
Before you start
- Switch on Multi-currency in Commission Feature Management. When you switch it on, the app offers to prepare its defaults: multi-currency settlement is enabled, the payment currency comes from the pay group and then the participant, and source rates and correction FX are captured. See Turn features on as you grow.
- Maintain exchange rates in the standard Currency Exchange Rates page. Snapshots are read from there.
- Set each foreign-paid participant's currency on the participant version. See Participants and payees.
- You need finance-wide access for the currency setup and FX evidence pages.
Currencies in Bitta Commission
| Currency | Where it is set | Used for |
|---|---|---|
| Local currency (LCY) | General Ledger Setup | Ledgers, settlements and G/L posting. |
| Processing currency | Currency Used on Bitta Commission Setup | Leave blank for LCY. |
| Source currency | The posted document | Preserved on every source fact with its currency factor. |
| Participant home currency | The participant version | The currency a settlement line is paid in. |
| Reporting currency | Reporting Currency Code on Commission Currency Setup | Statements and analysis. Blank uses the additional reporting currency or LCY. |
Step 1: Configure Commission Currency Setup
Open Commission Currency Setup.
| Field | What it does |
|---|---|
| Multi-Currency Enabled | Allows settlements to convert LCY commission into the participant currency. When off, a participant whose currency differs from LCY cannot be settled. Turning it on requires the module. |
| Settlement Currency Source | Pay Group Then Participant, Participant Only or Pay Group Only. In Release 1.1, pay groups settle in LCY, so the participant currency is the one that applies in practice. |
| Source Rate Date Rule | The date that selects the rate for a foreign source document. Default: the source posting date. The document's own currency factor is kept when it has one. |
| Settlement Rate Date Rule | The date that converts a settlement line into the payment currency. Default: the settlement cutoff date. |
| Payment Rate Date Rule | The date used to realize the FX difference of a paid line. Default: the actual pay date from the payroll acknowledgement. |
| Capture Source Rates | Freezes a rate snapshot for every foreign-currency source fact at capture, with the calculation rate variance against the exchange rate table. |
| Calc. Rate Tolerance % | Differences between the document factor and the rate table below this percentage record no variance. |
| Classify Correction FX | Splits the rate effect from the commission change when a correction changes the source currency or rate. |
Step 2: Measure foreign-currency sources
Calculation works in company currency, or through an active measure currency rule. Open Measure Currency Rules and add a rule per measure:
| Field | What it does |
|---|---|
| Measure Code | The measure the rule applies to. |
| Effective From / Effective To | The source dates the rule covers. |
| Target Currency Role / Target Currency Code | The currency the measure normalizes to, normally LCY or the processing currency. |
| Rate Date Rule | Source posting date, source document date or period end date. |
| Use Document Factor | Uses the source document's currency factor instead of the exchange rate table. |
| Unit of Measure Code | The unit a quantity measure counts after conversion. |
| Status | Only Active rules are used. |
Step 3: Settle in the participant's currency
When a settlement is refreshed, each line for a foreign-currency participant is converted at the settlement rate date and the conversion is frozen with the line:
- Payment Currency Code is the currency the participant is paid in. Blank means LCY.
- Payment Exch. Rate Factor is the frozen factor (payment currency units per one unit of LCY).
- Payment Rate Date is the date whose rate was used, normally the cutoff.
Recoveries are converted to the payment currency too. Refreshing again keeps the frozen rate even if the rate table changes later. A missing exchange rate is refused. The payroll-ready export and AP export add payment currency columns for these lines. See Settlements and pay groups.
Step 4: Record FX effects
After a foreign-currency settlement is frozen, use the Foreign exchange actions on Commission Settlement:
- Calculate realized FX compares the paid foreign amount at the pay-date rate with the cutoff rate for every foreign-currency payroll line, and records rounding, realized FX and the reversal of any unrealized FX.
- Revalue open FX revalues unpaid foreign-currency amounts at a revaluation date (on or after the cutoff) and records unrealized FX.
- Create FX proposal creates the accounting proposal that posts the unposted FX adjustments in LCY to the FX accounts of Commission Posting Setup.
Set the Realized FX Gain Acc. No. and Realized FX Loss Acc. No. before posting. The unrealized and rounding accounts are optional. When blank, those effects post to the realized accounts. See Accounting and posting.
Currency corrections
- Correct payment rate on a frozen settlement line records that the line should have used another date's rate. The line is not changed. The difference is recorded as a Settlement Rate Variance with your explanation, to settle in a later settlement.
- Record participant currency change on Commission FX Adjustments (dialog Currency Correction) records that a participant's home currency changes on a date. The open eligible balance converts into the new currency at the next settlement.
- When a correction changes a source's currency or rate and Classify Correction FX is on, the delta is split into a rate effect and a commission effect, each explained in plain language.
FX evidence
- Commission FX Rate Snapshots lists every frozen rate with its purpose (source capture, measurement, settlement, payment, revaluation or correction), the rate date and the rule that chose it, the factor, the rate table factor beside it, and a Hash status. Capture source rates freezes snapshots for foreign-currency source facts that do not have one.
- Commission FX Adjustments lists each effect by Adjustment Type: Calculation Rate Variance, Settlement Rate Variance, Realized FX, Unrealized FX, Unrealized FX Reversal, Rounding, Source Revaluation, Currency Change or Commission Correction, with an Explanation and whether it is Posted.
Rounding
Commission amounts are rounded with Calculation Precision and Rounding Direction on Bitta Commission Setup, and each earning keeps its pre-round amount and rounding adjustment. When a line is paid in a foreign currency, the rounding difference between the LCY liability and the rounded payment is recorded as a Rounding FX adjustment in LCY.
Troubleshooting
- A foreign-currency participant cannot be settled. Turn on Multi-Currency Enabled and check that an exchange rate exists for the settlement rate date.
- A foreign source is not calculated. Add an active measure currency rule for the measure.
- BAA-FX-ACCOUNT. Set the realized FX accounts in Commission Posting Setup.
- BAA-FX-CORRECTION-LCY. The line is paid in LCY, so there is no rate to correct.