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Our Corporate Accounting team needs a repeatable process that will allow them to make corrections at — Cloud Customer Connect
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Our Corporate Accounting team needs a repeatable process that will allow them to make corrections at

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edited Nov 2, 2020 7:38PM in Financial Consolidation and Close 2 comments

Summary

Prior historical overrides in Oracle fusion have caused balances to remain at the Parent Currency in FCCS.

Content

This USD balance does not exist in Fusion .  Even though all the entered currency has been written off, the parent currency needs to be zeroed out with the offset going to CTA.  This value eliminates in consolidation but poses a problem for entity level reporting.

Our Corporate Accounting team needs a repeatable process that will allow them to make the correction at the parent currency level.

They do not want to open up prior periods that have already been consolidated and reported.

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