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General Ledger - EBS (MOSC)

Translation Requirement

Jul 6, 2018 9:39AM edited Jul 17, 2018 5:12AM in General Ledger - EBS (MOSC) 1 commentAnswered

Dear Team,

As per oracle functionality system calculates FCTR balance based on below formula.

i.e 1.Opening balance of an account* previous month rate+dr*current month rate - cr* current month rate

2. closing balance of an account*current month rate

If there is any balance in step1 and step2 then system is moving the difference amount into FCTR(Foreign currency translation reserve account).

Now business wants the below way of translation as per accounting standards.

Translated account balance= Base currency Account closing balance * conversion rate

In this case system will not have any FCTR balances, because we are not going to compare different rates

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