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Journals Using Input Currency

in Financial Consolidation and Close 4 comments

Summary:

Journals in USD for PL accounts do not translate at average rate to LC


Content (required):

Hi

We are trying to make Journal entries in USD (system currency) for entities in LC that do not operate in USD and for this purpose we created a data source member (Journal Input USD). According to the documentation, the data entered in USD is then translated to the local currency of each entity during the consolidation process. We in turn translate to reporting currency (USD Reporting).

The problem we are facing is that during the translation from input/usd to LC, FCCS translates at EOM for all the accounts even if the account is a PL account. The expectation is that PL accounts should translate at Avg rate and BS accounts at EOM rate. This is causing when we are translating to reporting currency (USD reporting).

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