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    • When to use Historical Rates?

    in General Ledger & Intercompany 1 comment

    Summary:

    Our client wants to load AED journals to the AED ledger. The balance in the ledger will then be translated to USD as our Reporting Currency ledger (AED to USD). The scope of the load is for the previous Fiscal Year and it is the first time to load it in the system. What is the best practice or appropriate Rate Type should we use? is it Daily or Historical Rates? Also, if we use Historical Rates, this option is not seen in the list of values in the Translation process.

    Please advise.

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