Describing the currency conversion.

Objective

After completing this lesson, you will be able to describe the currency conversion.

Currency Conversion Table Management

The currency conversion rate table provides the variable pay plan with the information to manage multiple currency views that depend on this information. The conversion table allows the system to convert the amounts in the variable pay worksheet when the user toggles between currency views.

Note

  • This only applies to customers whose plan templates are configured to use multiple currencies.
  • Whether using multi-currency or single currency it is recommended to store compensation data in local currency instead of functional currency.

Creating a Conversion Table

The recommended method for creating a new table is to export the current data from SAP SuccessFactors, open it in a spreadsheet program, make changes, save it with a new file name, and import it into SAP SuccessFactors.

Navigation: Actions for all plans→All Plans→Currency Conversion Table.

The Actions for all plans screen is displayed, showing the Currency Conversion Table menu option.

Currency conversion rate tables are uploaded via a .csv file. Multiple tables are possible; however, each variable pay plan uses one conversion table.

Tables can support up to 15 decimal points of precision. It is recommended that tables have no less than five decimal places.

Make sure to account for all combinations of currencies possible. If you are using USD, EUR, CAN, and JPY, then your exchange table would contain six rows. A missing pair will yield no results and no warnings.

Currency conversion rates are bi-directional. Be sure to define only one conversion rate per currency pair: if you have EUR to USD there should not also be a USD to EUR rate. For example, if you want to add the exchange rate for USD to EUR, then add the row USD to EUR at 0.814. Do not add a second row EUR to USD at 1.2285. SAP SuccessFactors Variable Pay will calculate this rate based on the USD to EUR conversion.

A sample currency conversion table for different currencies and their rates.

Note

Currency settings for each compensation plan allows you to also set a default currency to be used.

An administrator may also set the default currency the system uses when launching any compensation, variable pay, or total compensation plans. This allows the plans to better support a customer’s geographies and business needs when applicable. Even when set as a default, the currency may be changed from the plan settings.

Summary

  • Currency conversion tables enable multi-currency views in Variable Pay worksheets by converting amounts when users toggle currencies; recommended to store compensation data in local currency.
  • Create/manage tables via Actions for all plans → All Plans → Currency Conversion Table; upload CSVs (one table per plan).
  • Tables support up to 15 decimal places (use at least 5), must include all currency pairs, and define only one direction per pair (the system calculates the inverse).
  • Admins can set default currencies at the plan level and system-wide; applies only if the plan template supports multiple currencies.
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