Howdy, Stranger!
Categories
- All Categories
- 73 General
- 73 Announcements
- 66.6K Microsoft Dynamics NAV
- 18.6K NAV Three Tier
- 38.4K NAV/Navision Classic Client
- 3.6K Navision Attain
- 2.4K Navision Financials
- 115 Navision DOS
- 854 Navision e-Commerce
- 1K NAV Tips & Tricks
- 772 NAV Dutch speaking only
- 615 NAV Courses, Exams & Certification
- 2K Microsoft Dynamics-Other
- 1.5K Dynamics AX
- 295 Dynamics CRM
- 109 Dynamics GP
- 10 Dynamics SL
- 1.5K Other
- 993 SQL General
- 384 SQL Performance
- 34 SQL Tips & Tricks
- 34 Design Patterns (General & Best Practices)
- Architectural Patterns
- 10 Design Patterns
- 5 Implementation Patterns
- 53 3rd Party Products, Services & Events
- 1.7K General
- 1.1K General Chat
- 1.6K Website
- 79 Testing
- 1.2K Download section
- 23 How Tos section
- 259 Feedback
- 12 NAV TechDays 2013 Sessions
- 13 NAV TechDays 2012 Sessions
Consolidation, Translation Methods, and Foreign Currency
MarkD33
Member Posts: 25
Question about how NAV handles currency conversions on consolidations.
Our client has subsidiaries in France (EUR) and UK (GBP). We're consolidating up to a European consolidating company with a currency of EUR so we're going through a currency conversion when rolling up UK to Europe.
Our Balance Sheets account Translation Method in the UK and Europe companies are all set to 'Closing Rate'. When we closed January (1st month in system) we rolled the UK balances @ an x-rate of 1.0406. Now, we're consolidating February @ a rate of 1.107. The problem we're running into is this: Consolidated A/R balance <> FR A/R Balance + (UK A/R Balance * 1.107). It's off due to the fact that the January A/R balance in the consolidated company is at a rate of 1.0406 as opposed to 1.107.
Is there a different process for running consolidation in a foreign currency environment to ensure that that consolidated balance sheet account balances reflect the closing rate?
Mark
Our client has subsidiaries in France (EUR) and UK (GBP). We're consolidating up to a European consolidating company with a currency of EUR so we're going through a currency conversion when rolling up UK to Europe.
Our Balance Sheets account Translation Method in the UK and Europe companies are all set to 'Closing Rate'. When we closed January (1st month in system) we rolled the UK balances @ an x-rate of 1.0406. Now, we're consolidating February @ a rate of 1.107. The problem we're running into is this: Consolidated A/R balance <> FR A/R Balance + (UK A/R Balance * 1.107). It's off due to the fact that the January A/R balance in the consolidated company is at a rate of 1.0406 as opposed to 1.107.
Is there a different process for running consolidation in a foreign currency environment to ensure that that consolidated balance sheet account balances reflect the closing rate?
Mark
0
Comments
I have same problem in balance sheet account, may I know is there any setting can obtain this result "consolidated balance sheet account balances reflect the closing rate?"
Income statement account
Income statement account will use the parent companies's consolidation period average exchange rate for transalation, what is the setting can do that?