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Exact Synergy Enterprise   
 

Running Currency Translation Process

Introduction

At this screen, you can run the currency translation process to translate the financial data of the divisions to the presentation currency of their reporting entity. Before the currency translation is executed, you can run a checking process on each division at Financial/Reports/Financial consolidation/Check configuration to ensure all prerequisite steps have been fulfilled. In addition to this, further checking will also be performed when you are preparing to translate the financial data. This additional checking includes validation on the currency translation adjustment (CTA) G/L account, exchange rate types, and consolidation opening balances settings.

Note: This functionality is available only if you have the module license YA1040 – Financial consolidation and option 470.

Menu path

Financial/Reports/Financial consolidation/Presentation currency translation

Roles & rights

To translate the financial data to the presentation currency of the reporting entity, function right 43 - Generate consolidation worksheet is required. Users with the General manager and Controller roles have this function right.

For more details on what you can do with function rights or levels, go to System/Setup/Security/Function rights, select the required module, and then click on the relevant ID. To find out the functions you can perform with a particular role, go to System/Setup/Security/Roles, type in the description, click Refresh and then click the required link under the Role column.

Button

Show

Click this to display all the divisions that are linked to the reporting entity and the results of the currency translation process checking based on the defined criteria.

Note: Once you have clicked this button, the name of the button will change to Refresh.

Refresh

Click this to update the screen based on the last defined criteria.

Start

Click this to start the currency translation process.

Close

Click this to exit.

Description

currencytranslation2.png


Reporting entity

Type or select the reporting entity which you want to run the currency translation process. This is mandatory.

Translate

Select Transactions to translate the transactions amount or Opening balance to translate the opening balance amount.

Note: If you select Opening balance, the system will validate whether you have defined the consolidation opening balances setting in the Financial settings. If you have not defined, you will see this message “Consolidation opening balances setting not defined. -> Financial: Settings”. Click the Financial: Settings hyperlink to define the settings. For more information, see Defining Financial Settings.

Presentation currency

Select the presentation currency to translate the financial data of the linked divisions to. By default, it will show the presentation currency of the reporting entity. However, you can still select other active currencies as the presentation currency.

Year / Period

Type the financial year in which you want to run the currency translation process. By default, only active financial years of the selected reporting entity will be available for selection. Next, type the period in the financial year which you want to run the currency translation process. It is mandatory to define the financial year and period to run the currency translation process.  

Note: If you select Opening balance at Translate to translate the opening balance amount, by default, Year/period will be based on the financial year and period you have defined at Consolidation opening balance when you define the financial settings. Hence, you cannot change the financial year and period. For more information, see Defining Financial Settings.

Show

Select All to display the divisions which the currency translation has been performed as well as those which the currency translation process has not been performed. Alternatively, select Translated to display only the divisions which the currency translation process has been performed or To be translated to display only the divisions which the currency translation process has not been performed.

Type

Define the types of transactions of the divisions to be included in currency translation. By default, the Standard checkbox is selected and disabled. Standard types of transactions consist of normal, correction, and correction opening balance transactions. Select the Fiscal check box to also include the fiscal transactions in currency translation.

Related document

     
 Main Category: Support Product Know How  Document Type: Online help main
 Category: On-line help files  Security  level: All - 0
 Sub category: Details  Document ID: 16.036.693
 Assortment:  Date: 21-09-2010
 Release:  Attachment:
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