Define Account Consolidation Translation Method Setup of Intercompany Solution

Define Account Consolidation Translation Method Setup of Intercompany Solution

This window enables you to update the consolidation translation method for a group of accounts in the chart of accounts. 

To display the Define Account Consolidation Translation Method window, choose Administration → Setup → Intercompany → Define Account Consolidation Translation Method.


Define Account Consolidation Translation Method Window

Field

Description

From Account, To Account

Press TAB in each field to display a list of G/L accounts. Select the relevant range of G/L accounts. 

Consolidation Translation Method

The value in this field is used for consolidation reporting. If the local currency of the company is different than the consolidation currency the system uses one of the following three translation methods for exchange rates while translating the account balances:


    1. Historical Rate – The system uses the exchange rate defined for the date of the journal entry.

    2. Closing Rate – The exchange rate defined for the closing date of the consolidation period. For example, if consolidating between Jan 1st and Dec 31st the closing rate will be the exchange rate for Dec 31st.

    3. Average Rate – A user-defined exchange rate set in the Average Rates window.

To apply the selected consolidation translation method on the specified range of G/L accounts, choose the Update button.



Next Step: Global Data Authorizations Setup of Intercompany Solution

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