Reporting Objects Overview

What Are Reporting Objects?

When customers make a purchase using one of your Functional Currencies, you will need to convert that purchase back to your Reporting Currency. This way, you can understand the financial information in your Reporting Currency and understand any gains or losses from conversion.

Reporting Objects serve this purpose. These objects shadow existing Sales Order, Sales Order Line, Receipt, and Receipt Line objects with a lookup relationship. They will generate a Reporting Record for every corresponding existing record.

This Reporting Record copies all the values from the original record and converts them to the Business Group’s Reporting Currency. The Reporting Records will also record the conversion rate used that day and calculate any gains or losses from the conversion. This way your business has a copy of their transactions converted into their Reporting Currency and an accurate reporting of any money gained or lost from conversion to the Reporting Currency.

Order Processing And Reporting Objects:

Orders still perform the same way they did before you enabled Multi-Currency. The difference is that now whenever a Sales Order, Sales Order Line, Receipt, or Receipt Line record is generated, a corresponding Reporting record will generate from the Sales Order (R), Sales Order Line (R), Receipt (R), or Receipt Line (R) object.

Let’s walk through an order with Reporting Objects to get a closer look at what happens when.

Sales Order and Sales Order Lines:

Every order in the system begins with a Sales Order. When the Sales Order is Posted, a Sales Order (R) record will generate. At this point, Sales Order Line (R) records will also generate for each Sales Order Line on the Sales Order.

Let’s look at an example.

Lucia Fresco is looking to order a backpack from the Store on the Community Portal. She is using Euros (EUR) as her currency.

When she adds the backpack to her Shopping Cart, a Sales Order record in the Draft status is generated.

When Lucia completes payment for the backpack, the Sales Order gets posted. This is the moment when a Sales Order (R) record is created along with Sales Order Line (R) records for each Sales Order Line associated with Lucia’s backpack Sales Order.

You can access your Sales Order (R) record from the corresponding Sales Order record with the Sales Order (R) field.

You can access Sales Order Line (R) records from the corresponding Sales Order Line records with the Sales Order Line (R) field.

Receipt And Receipt Lines:

When payment is applied to a Sales Order, Receipt and Receipt Line records are created. Likewise, Receipt (R) and Receipt Line (R) records will also generate when payment is applied that needs to be converted back to the Reporting Currency. In the example above, Receipt (R) and Receipt Line (R) records were created when Lucia paid for her backpack.

But what if she decided to pay with an invoice? The Sales Order would convert to an Invoice-Type Sales Order, but no Receipt (R) or Receipt Line (R) records would generate. These records only generate when Lucia decides to apply a payment to the Invoice and generate Receipt and Receipt Line records. This includes any Partial Payments made.

You can access your Receipt (R) record from the corresponding Receipt record with the Receipt (R) field.

You can access Receipt Line (R) records from the corresponding Receipt Line records with the Receipt Line (R) field.

Gains and Losses:

When money is converted from the Functional Currency to the Reporting Currency, there can be gains or losses in income depending on the conversion rate on the day of payment. These are recorded via the Conversion Gain/Loss field on the Sales Order (R), Sales Order Line (R), and Receipt Line (R) objects. This field will record any extra or lost income from converting to the Reporting Currency. These gains and losses from the conversion rate will factor into the Balance Due calculation on the Sales Order (R) object.

The conversion rate will always be set at the rate configured on the Currency Conversion table on the day of payment. This can result in different conversion rates for Sales Orders with multiple payments.

For example, let’s say Lucia Fresco decided to pay for her backpack with an Invoice. At this time, the rate of conversion was 1.2 EUR to USD, and the Sales Order (R) record reflected no gain or loss from conversion.

A week later, she applied €20 as payment towards her backpack. The conversion rate from EUR to USD rose to 1.3 on this date and resulted in a small loss of -$1.27 USD reflected in the Conversion Gain/Loss field on the Sales Order (R) record.

At the end of the month, she made her final payment towards her backpack. On this date, the conversion rate from EUR to USD increased again to 1.5. This resulted in an even larger loss of -$11.19 USD on the Sales Order (R) record.