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Translation of Opening balance adjustments with no prior period rates

in Financial Consolidation and Close 1 comment

Summary:

FCCS application has been loading only USD balances for all previous years from GL. GL was doing the translation. In January 2024 we would like to load entity currencies and start translating in FCCS. What is the best way to get both entity currency and parent currency to be correct for opening balances in 2024? Because we do not want to translate any data in 2023 and entity currency matches parent currency in 2023, the exchange rates for all of 2023 are all set to "1". When we use the opening balance adjustment movement in P1 2024 to make entity

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