You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Balances are not being translated at Average Rate

in General Ledger & Intercompany 1 comment

Summary:

We have setup Reporting Currency for the purpose of translation and consolidation of balances. When translating Balances, system is not translating balances at period average rate, instead taking closing balance of the period to translate. Reporting Currency Setup have "Period Average Rate Type" and "Period End Rate Type" set as "Corporate" with "Revenue and Expense Translation Rule" set to PTD and "Owner's Equity Translation Rule" set as YTD.

But we have translated balance which is based on Jan-23 ending rate of 2.5 but in actual it should have been translated at average rate of Jan-23 of 2.30 [(2.14+2.25+2.5)/3 = 2.30 Average rate].

Important Point to consider: "Average Balancing" not enabled at Ledger Options. Does it effect our requirement?

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!