Monetary data in PolicyCenter
Monetary data refers to any database column, object field, or user interface control that contains a financial value.
Unlike other types of numeric data, monetary data has special requirements. Insurers need to control how monetary data is stored in the database, how it is shown in the user interface, and how values are rounded.
Some insurers may also need to work with monetary data in different currencies. These insurers can enable the multicurrency features in PolicyCenter. They may also need to specify currency-specific storage and display settings.
Configuring PolicyCenter for a single currency
The following table identifies the issues to consider when you are configuring an implementation of PolicyCenter that will use a single currency.
|
Issue |
See also |
|---|---|
| Determine the number of digits that will be stored in database columns that record monetary amounts. | Configuring monetary data storage in the database |
| Identify the currency that the implementation supports. | |
| Optionally override the display properties specific to monetary data. | Display properties for monetary data |
If you integrate two or more core applications in Guidewire InsuranceSuite, set the values of of the following parameters in the following files to be the same in every application:
- datatypes.xml
precisionscale
- config.xml
DefaultApplicationCurrency
Configuring PolicyCenter for multicurrency
The following table identifies the issues to consider when you are configuring an implementation of PolicyCenter that will use multicurrency.
|
Issue |
See also |
|---|---|
| Determine the number of digits that will be stored in database columns that record monetary amounts. | Configuring monetary data storage in the database |
| Identify the currencies that the implementation supports. | |
| For each currency, optionally override the display properties and scale specific to that currency. | Display properties for monetary data |
| Enable multicurrency. | Enabling multicurrency |
| Associate currencies with territories as needed. | Configuring currencies by territorial data |
If you are integrate two or more core applications in Guidewire InsuranceSuite, set the values of of the following parameters in the following files to be the same in every application:
- datatypes.xml
precisionscale
- config.xml
DefaultApplicationCurrencyMulticurrencyDisplayMode
Monetary data resources
The following table summarizes all resources related to monetary data configuration.
|
Guidewire Studio™ resource |
Usage |
Location |
|---|---|---|
|
The Currency.example.ttx file |
Identifies the currency or currencies supported in the implementation. |
|
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config.xml |
Includes application parameters that affect how monetary data is handled:
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datatypes.xml |
Identifies how monetary data is stored in the database, specifically regarding:
|
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The localization_localeCode.xml files |
Used in single currency implementations to:
|
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The currency.xml files |
Used in multicurrency implementations to:
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