Asset FX Revaluation

Summary:

Client would like to see Assets journals reflected in GL Reporting Currency Ledger as FX entered and Functional currency Accounted in Reporting Currency Ledger.

Content (please ensure you mask any confidential information):

Client has recently acquired foreign entity. The foreign entity has Assets which they would like to add to the Asset module. In incorporating the Assets in the Primary Ledger of the foreign entity, the client also wants to revalue the asset balances which are reported in the Reporting Currency Ledger associated with Primary Ledger . The Reporting Currency ledger is set at the Subledger conversion level.

In testing we see where two GL journals are created with Entered Amounts only. One in the PL with entered CAD and the other in the RC with Entered USD. The client wants the journal in the RC to be CAD entered with the USD value as Accounted. Are there any setups in Assets which facilitates this requirements?