General Ledger - EBS (MOSC)

MOSC Banner

historical rates calculation when there is a dollar amount override

edited Oct 18, 2013 5:49AM in General Ledger - EBS (MOSC) 3 commentsAnswered
Can anyone confirm what should happen when there is a dollar amount override at year end when the functional balance amount is zero?

I found the following related to rates overrides and unexpected amounts in RE Doc ID 269654.1

Retained earnings translated balance is calculated as below:

Translated Revenue balance in the last period of previous year - Translated Expenses balance in the last period of previous year + Opening translated balance in retained earnings account in the last period of previous year

The closing of the income statement accounts is not considered periodic activity for retained earnings. At the turn of the year, the beginning retained earnings balance is automatically incremented for the p/l amount that was closed. The closed amount does not show up as periodic activity in the first period of the new fiscal year. Periodic activity to the retained earnings account would come from manual adjustments the user may make directly to the account.

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