Translations

Translation is the process of translating account balances from functional currency to another (reporting or foreign) currency. This process translates balances only. It doesn’t translate individual transactions. While doing translation makes sure previous month period status should be open Ex: Mar à Feb, ApràMar

Translation rates

Expenses & Revenue à Average rate
Assets & Liabilities à Period end rate
Equity & Owner ship à Period end rate/ Historical rate

Setups

Define Translation adjustment account and period end ,period average rates at specify ledger options
Manage Conversion rates for period end, period average rates
Manage Historical rates conversion
Create translation ledger
Run translation process
Run General ledger trail balances report

1. Define Translation adjustment account and period end, period average rates at specify ledger options

Go to set up and maintenance
Set up: Financials
Task: %specify %ledger%
Select Specify ledger options
Update translation adjustment account under period close tab and give the period and average rates
Save and close

2. Create Conversion rates for period end, period average rates

Go to set up and maintenance
Set up: Financials
Task: %manage% daily%
Select Manage daily rates
Go to daily rates tab
Click on spread sheet
Give the period and average rate
Check the results in the system

3. Manage Historical rates conversion

Go to set up and maintenance
Set up: Financials
Task: %manage% daily%
Select Manage daily rates
Go to historical rates tabs
Give the ledger name, target currency and rate type
Click on spread sheet
Give the details and submit

4. Create translation ledger

Go to set up and maintenance
Set up: Financials
Task: %manage% reporting%
Select Manage reporting currencies
Click on + to create
Give the details
Save and close
Currency conversion level : If you select the remaining options it will take it as foreign currency or reporting currency

5. Run translation process

Go to navigator
Go to general accounting
Select period close
Go to Task icon
Click on Translate balances under multi-currency
Give the details and submit
Check in Scheduled process for result it should be succeeded

6. Run General ledger trail balances report

Go to navigator
Go to tools
Select scheduled process
Click on the schedule new process
Run a program called General ledger trail balance
Give the details

In the same way we can run another report called Trial Balances report(In R 12 we don’t have this)
After succeeded the scheduled process see the results

Scroll down click on the publishàselect which type of document you want and see the result

Namburi Satish Babu