General Ledger - EBS (MOSC)

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Using prior month Period End Rate as Daily Rate for transaction processing

in General Ledger - EBS (MOSC) 2 commentsAnswered

Our client is in R12 and have global presence in US, UK and APAC. There are multiple ledgers by country and HQ is in US. They use daily rates (Corporate) for all FX transactions which are imported on daily basis and first day of each month they import the period end rate for the previous month. There are some transactions that happen between the group companies and during intercompany eliminations they frequently face issues because the selling party may book the transaction on day 1 and the receiving party books their transaction on day 2 due to the time

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