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Reporting Ledger & Global COA

Received Response
edited Apr 27, 2021 11:19PM in General Ledger & Intercompany 5 comments


Reporting Ledger & Global COA



This is the business requirement : A Company with operations in Mexico, Brazil, Argentina etc needs to prepare its financials statements under IFRS, Local GAAP and USA GAAP as well.

The US Headquarters do not want to store IFRS and Local GAAP value on the Global Chart of Accounts.

I was wondering what would be the best Recommendation.

Please Advise

Example one company in Mexico and Headquarters in USA.

1.Primary Ledger--IFRS-Currency Pesos---The Natural Account Value set has local values for IFRS and Local GAAP.

2.-Secondary Ledger--Local GAAP-Currency Pesos

3.-Reporting Ledger --USA---This Ledger will be mapped to a Global Ledger which has the Global Chart of Accounts. The Global COA does not have any additional values on the Natural Account Segment neither for IFRS nor for Local GAAP. 

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