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Exchange Rate mismatching

Former Member
0 Kudos

Hello,

We are facing an exchange rate mismatching between Income Statement and Specification Accounts.

Income Statement accounts are submitted monthly and the exchange rate applied on it is the periodic exchange rate.

On the other hand Specification Accounts are submitted quarterly and the exchange rate applied on it is the periodic cumulated average exchange rate.

The condition between these two kinds of accounts is that after the third month of data submission both Income Statement and Specification Accounts must match, but this is not the case since we are using different exchange rates and data is submitted with a different frequency.

We would like to know what are the options BCS provides for matching these two accounts at the end of every quarter.

Thanks in advance.

Diego

Accepted Solutions (0)

Answers (2)

Answers (2)

Former Member
0 Kudos

Hello,

This solution is not valid for us since Spec Accounts are submitted quarterly and there is no way to do that in a different way. Any other idea?

Thanks in advance,

Diego

Former Member
0 Kudos

HI Diego,

Try to use Rounding function.

Create rounding method with rounding type: Selection 1 + Selection 2 = 0

In Selection 1 insert Specification Accounts. In Selection 2 insert Income Statement accounts.

Decide when to post rounding differences: account from Selection 1 or account form Selection 2

Insert this rounding method into currency translation task (egxecuted quartally).

It should works!

Hope this help

Pawel

dan_sullivan
Active Contributor
0 Kudos

The simplest option is to translate the Specification Accounts each month periodically at the average rate - same as the Income Statement Items.