Hyperion Financial Close Management (FCM) (MOSC)

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Reconciling Foreign Currency Denominated Accounts

edited Mar 11, 2014 1:40PM in Hyperion Financial Close Management (FCM) (MOSC) 3 commentsAnswered

Hello,

We have a business requirement to perform bank reconciliation for a foreign currency denominated accounts. e.g. India has INR functional currency but has USD denominated bank account. The requirement is to perform the Rec in functional (INR) as well as USD currency. The bank statement is received in USD. When entering adjustments to GL (for items that are on bank statement but not in GL), the user is required to reverse translate USD to INR offline and then enter the numbers in the tool.

How are other companies doing foreign currency bank reconciliation? Is there anyway users won't have to do reverse translation offline?

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