The settings described below apply to accounting schedule conversions in reporting and on the page when the Calculate FX Impact check box is selected. In all other areas in the system where currency values may be converted—such as the Expense Forecast page—the system will use the most recent exchange rate that has a type of Cash. If there is no exchange rate with a type of Cash, the system will pull the current rate from a web service (fixer.io).
Clone the Portfolio Summary Page
If you are using the out-of-the-box Portfolio Summary page, you will need to clone the global template to keep using it.
To clone the Portfolio Summary page:
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Click Admin in the toolbar in the upper-right corner of the window.
The System Administrator Dashboard page opens.
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Click Manage Page Layouts link in the Company Administration column.
The Manage Summary Pages page opens.
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Click Add Item in the lower-right corner of the Summary Pages table.
The Add Item window opens.
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Enter Portfolio Summary Clone in the Page Layout Name field.
Never name a custom page layout the same as a global page layout. If you want to import the page layout into another environment, you will get an error.
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Enter a description of the page layout in the Description field.
We recommend that you add descriptions to every template, layout, or field you create in Lucernex, so that subsequent administrators will understand the purpose and context of the items you create.
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Select Portfolio > Details > Summary in the Parent Tab field.
A parent tab is the location in the system where the page is located. To organize the order pages appear in the page field, see the Manage Top Menu page.
Important!The parent tab must be a third-level tab in the system.
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Select Portfolio / Capital Program from the Primary Table field.
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Select the Yes option for the Allow Edit setting.
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Select Portfolio Summary [Global Layout] from the Initialize layout from existing layout field.
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Select the portfolio you want this page to be available for from the Available for the following Portfolios / Capital Programs field.
All Portfolios / Capital Programs is selected by default. You can select multiple options.
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Click Add.
The window closes. The page appears in the Manage Summary Pages table.
Create the Portfolio Financial Settings Page
To create the Portfolio Financial Settings page:
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Click Admin in the toolbar in the upper-right corner of the window.
The System Administrator Dashboard page opens.
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Click Manage Page Layouts link in the Company Administration column.
The Manage Summary Pages page opens.
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Click Add Item in the lower-right corner of the Summary Pages table.
The Add Item window opens.
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Enter Portfolio Financial Settings in the Page Layout Name field.
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Enter a description of the page layout in the Description field.
We recommend that you add descriptions to every template, layout, or field you create in Lucernex, so that subsequent administrators will understand the purpose and context of the items you create.
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Select Portfolio > Details > Summary in the Parent Tab field.
A parent tab is the location in the system where the page is located. To organize the order pages appear in the page field, see the Manage Top Menu page.
Important!The parent tab must be a third-level tab in the system.
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Select Portfolio / Capital Program from the Primary Table field.
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Select the Yes option for the Allow Edit setting.
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Select Portfolio Financial Settings [Global Layout] from the Initialize layout from existing layout field.
This layout appears in the Sub Pages section of the field.
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Select the portfolio you want this page to be available for from the Available for the following Portfolios / Capital Programs field.
All Portfolios / Capital Programs is selected by default. You can select multiple options.
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Click Add.
The window closes. The page appears in the Manage Summary Pages table.
Configure your Currency Exchange Rules at the Portfolio-Level
Once you have created the two pages referenced above, you can configure your currency exchange rules at the portfolio-level.
To configure your currency exchange rules:
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Navigate to Portfolio > Details > Summary.
Use the links in the Navigation Pane on the leftmost side of the page.
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Select the Portfolio Financial Settings page from the field to the left of the Actions menu on the right side of the page.
The Portfolio Financial Settings page opens.
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Click Edit.
This displays in the Actions menu on the right side of the page.
The page becomes editable.
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Configure the appropriate settings below:
Note:If you select the Company Value option for any of these options, the portfolio setting will use whatever setting is configured at the firm-level.
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Straight Line Cash Amortize Method: Select the appropriate option for how you would like the system to calculate the amortization of Cash Rent in Straight Line schedules.
There are five options: Per Day, Per Period, Day Of, Per Day Monthly, and Company Value.
The Per Day Monthly method is most applicable to when you are using a 13-period fiscal calendar. This method is broken down into the following steps:
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The daily rent for each month is calculated.
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The total number of days in the period is calculated.
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The number of days from the first month in the period are calculated.
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If there is a second month in the period, the number of days from the second month are calculated.
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The daily rent of the first month is multiplied against the number of days from the first month.
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The daily rent of the second month is multiplied against the number of days from the second month.
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The two values calculated in step 5 and 6 are added to determine the total rent in the fiscal period.
The Per Day Monthly method is only accessible if you have the enablePerDayMonthlyCashAmortization feature enabled. Contact Support if you would like to utilize this feature.
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There are three options: Per Day, Per Period, and Company Value. By Period distributes the amortization equally among periods, and Per Day distributes the amortization according to the number of days in the period.
Note:This setting impacts only ASC 842 Finance leases.
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Expense Amortize Method: Select the appropriate option for how you would like the system to calculate the amortization of Rent Expense in Straight Line schedules.
There are three options: Per Day, Per Period, and Company Value.
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Pro-rate partial first/last periods (for period based calculations)based on 28 days (multiplier = 1 for 28-35 day intervals, #days / 28 if #days < 28): Select the Yes option if you would like to prorate partial first and last periods based on a 28-day multiplier. This setting only impacts values calculated per period. If you have a partial period that is greater than or equal to 28 days, it will be considered a whole period by the system and will not prorate.
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Match Lease and Fiscal Year Ends: Select the Yes option if you want to match the lease and fiscal year ends, and the No option if you do not.
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If you select Yes, the system calculates the Straight Line Schedule up to the fiscal year end.
For example, if the lease ends on December 31st but the fiscal year ends on December 29th, the schedule would end on the 29th.
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If you select No, the system calculates the Straight Line Schedule to the end of the lease.
For example, if the lease ends on December 31st but the fiscal year ends on December 29th, the system would calculate a partial period of 2 days.
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Discount Rate: Enter the default discount rate for your company here. The discount rate is also known as the Interest Rate or Internal Borrower Rate (IBR).
To enter a 5% discount rate, enter the number 5—no % or decimal is necessary. This is your firm-level discount rate. You can also set a discount rate at the portfolio-level and the contract-level.
The value in this field is used as the discount rate for generating the net present value of the lease liability that will be placed in the balance sheet as both an asset and a liability.
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Current Fair Value Threshold: Enter the fraction of the fair value of the underlying asset that you would like to test against to determine whether to treat this lease as a financing- / purchase-type lease or an operating lease. This value is usually set to 90%.
This field is used in the ASC 842 Test.
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Current Remaining Economic Life Threshold: Enter the fraction of the economic life of the underlying asset that amounts to “a major part” of the scheduled accounting period. This value is usually set to 75%.
This field is used in the ASC 842 Test.
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Portfolio Home Currency: Select the default currency for this portfolio from this field.
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For the New Rate at / on setting, choose between two options:
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Commencement: The rate equals the Cash (Spot) rate that is closest to but not before lease commencement.
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Schedule Begin - The rate equals the Cash (Spot) rate that is closest to but not before the Schedule Begin Date.
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Select the appropriate values from the following fields in the Revaluation section:
These are the currency conversion types used for contracts in need of revaluation. You must use the Manage Exchange Rates feature for this mapping to work.
Setting
Definition Default Type
Affected Fields
Liability Balance
the foreign exchange rate type you want to use for your liability balance conversions Cash
(rate at end of the month used)
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SLPeriod.LiabilityAmount
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SLSummary.CurrentLiabilityBalance
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SLSummary.Forward12MonthLiabilityChange
Cash Expenses
the foreign exchange rate type you want to use for your cash expense conversions Period Average -
SLPeriod.PeriodCashAmount
Asset Amortization
the foreign exchange rate type you want to use for your asset amortization conversions Cash
(rate at begin of the month used. This value is fixed—it does not change over the life of the lease unless the schedule is remeasured.)
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SLPeriod.PeriodAssetAmortizationExpense
Asset Balance the foreign exchange rate type you want to use for your asset balance conversions Cash
(rate at begin of the month used. This value is fixed—it does not change over the life of the lease unless the schedule is remeasured.)
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SLPeriod.AssetAmount
Interest the foreign exchange rate type you want to use for your interest conversions Period-Average -
SLPeriod.PeriodInterestAmount
Single Lease the foreign exchange rate type you want to use for your single lease expense conversions Period-Average -
SLPeriod.PeriodExpenseAmount
Liability Amortization the foreign exchange rate type you want to use for your liability amortization expense conversions Period-Average -
SLPeriod.PeriodLiabilityAmortizationExpense
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Select the appropriate values from the following fields in the Translation section:
These are the currency conversion types used for contracts in need of translation. You must use the Manage Exchange Rates feature for this mapping to work.
Setting
Definition Default Type
Affected Fields
Liability Balance
the foreign exchange rate type you want to use for your liability balance conversions Cash
(rate at end of the month used. This value can vary by period.)
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SLPeriod.LiabilityAmount
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SLSummary.CurrentLiabilityBalance
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SLSummary.Forward12MonthLiabilityChange
Cash Expenses
the foreign exchange rate type you want to use for your cash expense conversions Period-Average
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SLPeriod.PeriodCashAmount
Asset Amortization
the foreign exchange rate type you want to use for your asset amortization conversions Period-Average
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SLPeriod.PeriodAssetAmortizationExpense
Asset Balance the foreign exchange rate type you want to use for your asset balance conversions Cash
(rate at end of the month used. This value can vary by period.)
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SLPeriod.AssetAmount
Interest the foreign exchange rate type you want to use for your interest conversions Period-Average -
SLPeriod.PeriodInterestAmount
Single Lease the foreign exchange rate type you want to use for your single lease expense conversions Period-Average -
SLPeriod.PeriodExpenseAmount
Liability Amortization the foreign exchange rate type you want to use for your liability amortization expense conversions Period-Average -
SLPeriod.PeriodLiabilityAmortizationExpense
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