General Ledger - EBS (MOSC)

MOSC Banner

Foreign currency reconciliation

edited Sep 10, 2009 2:25AM in General Ledger - EBS (MOSC) 9 commentsAnswered
We are having issues in reconciling our USD bank account with GL. We have a USD bank account and we sometimes pay  in USD. Our functional currency is CAD so the system converts USD in CAD once an invoice is created and then again when a payment is made. The difference betwenn the two days rate goes as profit/loss into a specific account. Till this point everything it ok, however, at the time of monthends once the bank statement  comes and the clerk tries to reconcile it with GL things dont match and the difference runs into millions. I tried translating CAD into USD

Howdy, Stranger!

Log In

To view full details, sign in to My Oracle Support Community.

Register

Don't have a My Oracle Support Community account? Click here to get started.

Category Leaderboard

Top contributors this month

New to My Oracle Support Community? Visit our Welcome Center

MOSC Help Center