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Domain: Country Accounting

Responsibility area: N/A

Table of contents 


Scope


ERP


Frequency

 

References

OB08


Forms


Attachments

Banco de México Portal



Previous OP << MX - Exchange Rate Update >> Next OP



1. Objective and Scope

1.1. Objective of this Operation

This procedure explains the carry out of the update and upload the Foreign Currencies for Mexico Companies using the information available in the Banco de México.

1.2. Scope

This procedure applies to Mexico Companies in PF1 and WP1 ERP.


2. Definitions

See Finance Glossary:


3. Tasks description

For legal reason is necessary to update the system with the rates from Banco de México. 
This procedure describes:

  • How to get the exchange rate in the website of Banco de México.
  • How to input the data in SAP - transaction: ZRATEMOD.
  • How to check if exchange rates are right -transaction : ZRATE
  • How to save the report image - transaction: OB08


4. Periodicity

For companies in Mexico, you only use the LMXD exchange rate, which must be performed every business day and holidays at 10:00 am Curitiba time, using the rate of the previous business day and/or the current day.

For the monthly closing rate, it must be carried out every first business day of the current month, at the exchange rate of the last business day of the previous month.

These processes are described in detail in the sections below.

Observation

If the exchange rate and/or the site is unavailable please, contact the CAM - Country Accounting Manager in order to request the support and/or informing that the exchange rate will be update as soon as possible.

Consult the Legal Entity Card to get the CAM contact → https://aodocs.altirnao.com/documentViewer.html?locale=en_US&aodocs-domain=solvay.com#Menu_listDoc/LibraryId_Q5Hs3LE6NToqZiQCO6/ViewId_QcC3s0D6T8yCWGaOst/Filter_%257B%2522QcBp9HW1FgQuDsIBPQ%2522:%2522QcBm9Fa000000ifULT%2522%257D

5. I UPDATE THE RATE - DAILY

5.1. I retrieve the data

Go to BANXICO and SIE - Mercado cambiario.


IMPORTANT

The rate is retrieved daily for DOLLAR (USD); EURO (EUR); YUAN (CNY); CANADIAN DOLLAR (CAD) and JAPANESE YEN (JPY).

And for USD, load on the current day the rate of the previous day from the DOF column, or the current day from the "PARA PAGOS" column."

The daily exchange rate of Canadian Dolar (CAD) does not appear in the screen above, to get this information you should enter in the link SIE - Mercado cambiario.



         BANXICO you get EUR, YPY, CNY from previous day

        


SIE - Mercado cambiario you get CAD and USD (US$ it is the same Exchange rate form USD)


Pesos por Divisa - CAD from the previous day 


Tipos de Cambio Peso/Dólar → Más Informacíon

Use the column "Para pagos" of the current day (is the same of "Publicacíon DOF form the previous day).



Save these prints in the TAXAS DIARIAS worksheet.

5.2. PF1

5.2.1. I upload the exchange rate - Daily 

Run the transaction ZRATEMOD (system PF1) in order to upload to SAP the Exchange Rate. 

In the transaction insert the following information: 

  • "Valid From" – Enter the current day's exchange rate.

  • "From Currency" – The rate is updated for the following currencies: CNY, EUR, JPY (Exchange rate X 100) , USD and US$.

  • "Exch. Rate type" – the type of rate to be modified: LMXD.

Yuan chino - CNY



Press enter;
The system will inform the actual rate. 
After that is necessary just to press  and  . The new rate will be assumed by the system:

Do the same process for CNY, EUR, JPY, USD, and US$.


5.2.2. I check the exchange rate - Daily 

Access the transaction: ZRATE

In the transaction, insert the following information:

  • "DATE" – Enter the current day's exchange rate.

  • "From Currency" – The rate is updated for the following currencies: CNY, EUR, JPY, USD, and US$.
  • "To Currency" – The currency for Mexico is MXN 

  • "Exch. Rate type" – the type of rate to be modified: LMXD.


And check that the rates are updated correctly.


After verifying that the exchange rates are correct, access transaction OB08, save the report image and paste it into the TAXAS DIARIAS worksheet.

Access transaction OB08


Click in SELECTION, BY CONTENTS:


Select VALID FROM ( date of day) e EXCHANGE RATE TYPE (lmxd)



When the rates appear, check if they are correct based on the print of the rates extracted from the link mentioned above, if everything is ok, give a PRINT.



Save the report image, and paste it in the TAXAS DIARIAS spreadsheet.


5.3. WP1

5.3.1 I upload the exchange rate - Daily 

Run the transaction ZRATEMOD (system WP1) in order to upload to SAP the Exchange Rate. 

In the transaction insert the following information: 

  • "Valid From" – Enter the current day's exchange rate.

  • "From Currency" – The rate is updated for the following currencies: CAD, CNY, EUR, JPY, USD.

  • "Exch. Rate type" – the type of rate to be modified: LMXD.


Press enter;
The system will inform the actual rate. 
After that is necessary just to press  and  . The new rate will be assumed by the system:

Do the same process for CAD, CNY, EUR, JPY, USD.


5.3.2 I check the exchange rate - Daily 

Access the transaction: ZRATE

In the transaction, insert the following information:

  • "DATE" – Enter the current day's exchange rate.

  • "From Currency" – The rate is updated for the following currencies: CNY, EUR, JPY, USD, and US$.
  • "To Currency" – The currency for Mexico is MXN 

  • "Exch. Rate type" – the type of rate to be modified: LMXD.


And check that the rates are updated correctly.


After verifying that the exchange rates are correct, access transaction OB08, save the report image and paste it into the TAXAS DIARIAS worksheet.

Access transaction OB08


Click in SELECTION, BY CONTENTS:


Select VALID FROM ( date of day) e EXCHANGE RATE TYPE (lmxd)


Appearing as rates, check if the rates quoted in the link above are correct, enter the CAD currency, click on line as template and copy (CTRL+Y) line as template, click on NEW ENTRIES and paste (CTRL) +C, changing the currency for which it is missing and enter its value. If everything is ok, give a PRINT.



Save the report image, and paste it in the TAXAS DIARIAS spreadsheet.



Observation

Exchange rate data for MX (Mexico) is fed daily into the spreadsheet: TAXAS DIARIAS. Below is a link to access a conference if necessary:

 https://docs.google.com/spreadsheets/d/1u5lr_oJBYo_uaAwSQl-2nqS2dwV3pjrQ/edit#gid=1210826692





6. I UPDATE THE RATE - MONTHLY

6.1. I retrieve the data

The same way, go to SIE - Mercado cambiario and click in "Otras cotizaciones (mensual)".

 


Then, in the column "Pesos por divisa" you may find the tax rate used to update the monthly rate.


6.2. PF1

6.2.1. I upload the exchange rate - Monthly

Run the transaction ZRATEMOD (system PF1) in order to upload to SAP the Exchange Rate.
In the transaction insert the following information:

  • "Valid from" – Post the exchange rate for the last business day of the previous month on the first day of the current month.
  • "From Currency" –The rate is updated for the following currencies CHF; IDR; SGD.
  • "Exchange Rate Type" - LMXD.



Press enter.

The system will inform the actual rate. 
After that is necessary just to press  and  . The new rate will be assumed by the system:.

Do the same for: CHF, IDR, SGD.


6.2.2. I check the exchange rate - Monthly

Access the transaction: ZRATE

In the transaction, insert the following information:

  • "DATE" – Enter the date of the first of the month/or the first business day of the month.

  • "From Currency" – The rate is updated for the following currencies: CHF, IDR, SGD.
  • "To Currency" – The currency for Mexico is MXN 

  • "Exch. Rate type" – the type of rate to be modified: LMXD.


Do the same for: CHF, IDR, SGD


After verifying that the exchange rates are correct, access transaction OB08, save the report image and paste it into the MX - EXCHANGE RATE UPDATE MONTHLY 2022 worksheet.


Access transaction OB08


Click in SELECTION, BY CONTENTS:


Select VALID FROM:



When the report appears, check if the rates are correct based on the print of the rates extracted from the link mentioned above. If everything is ok, give a PRINT.



Selecionar com o CTRL+ na coluna ExRt+ From + To + Valid From.



Enter the information the: exchange rate type: LMXD, fron currency: CHF; CNY, EUR, IDR; JPY, SGD; US$, USD, to-currency: MXN and valid from: the date of the first of the month/or the first business day of the month.


After checking the rates, save the report image, and paste it into the MX - EXCHANGE RATE UPDATE MONTHLY 2022 worksheet.


6.3. WP1 

6.3.1 I upload the exchange rate - Monthly


Run the transaction ZRATEMOD (system WP1) in order to upload to SAP the Exchange Rate.
In the transaction insert the following information:

  • "Valid from" – Post the exchange rate for the last business day of the previous month on the first day of the current month.
  • "From Currency" – The rate is updated for the following currencies: BRL, CLP, EUR, IDR, SGD.
  • "Exchange Rate Type" - LMXD.




 Press enter.

The system will inform the actual rate. 
After that is necessary just to press  and  . The new rate will be assumed by the system:.

Do the same for BRL, CLP, EUR, IDR, SGD.


6.3.2 I check the exchange rate - Monthly


Access the transaction: ZRATE

In the transaction, insert the following information:

  • "DATE" – Enter the date of the first of the month.

  • "From Currency" – The rate is updated for the following currencies: BRL, CLP, EUR, IDR, SGD.
  • "To Currency" – The currency for Mexico is MXN 

  • "Exch. Rate type" – the type of rate to be modified: LMXD.


Do the same for: BRL, CLP, EUR, IDR, SGD.


After verifying that the exchange rates are correct, access transaction OB08, save the report image and paste it into the MX - EXCHANGE RATE UPDATE MONTHLY 2022 worksheet.


Access transaction OB08



Click in SELECTION, BY CONTENTS:



Select VALID FROM:



When the report appears, check if the rates are correct based on the print of the rates extracted from the link mentioned above. If everything is ok, give a PRINT.



Enter the information the: exchange rate type: LMXD, fron currency: BRL, CLP, EUR, IDR, SGD to-currency: MXN.




After checking the rates, save the report image, and paste it into the MX - EXCHANGE RATE UPDATE MONTHLY 2022 worksheet.




Exchange rate data for MX (Mexico) is fed monthly into the spreadsheet: MX - EXCHANGE RATE UPDATE MONTHLY 2022. Below is a link to access a conference if necessary:

https://docs.google.com/spreadsheets/d/1fS9BaDnLbvZGjqRByn2rL6V4tF86R9oA/edit#gid=1122532321


End of document.