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    Anish Saini
    Different accounted amounts for a foreign journal in Primary...
    Topic posted October 11, 2019 by Anish Saini, tagged Configuration, Financials, General Ledger, Period Close / Reconciliation 
    32 Views, 4 Comments
    Title:
    Different accounted amounts for a foreign journal in Primary Vs Secondary Ledger
    Summary:
    Different accounted amounts for a foreign journal in Primary Vs Secondary Ledger
    Content:

    Hello All,

    I have a Singapore primary ledger (SGD_Functional_Ledger)  and secondary ledger (SGD_IFRS_Ledger) with the same COA,accounting method,accounting calender & currency (SGD). A foreign currency journal (USD) is entered into primary ledger on 1st October using the exchange rate (USD-->SGD) of 2. The primary ledger journal got posted/approved on 6th October and got copied over to secondary ledger (because of primary to secondary mapping) and got posted the same date. The secondary journal picked up the exchange rate (USd-->SGD i.e. 2.5) of 6th October.

    Now the entered amount (USD) is same (as expected) for both the journals but accounted amounts are different for primary and secondary ledger journals (as shown in screenshot).

    In SAP world, the journal would always pick the posting date from primary ledger and use the same for secondary journal. It seems like Oracle is using the journal creation date to populate the exchange rate used for calculating accounted amounts. I have checked all the setups but haven't come across anything to do with currency/conversion for secondary ledgers. Any help would be appreciated.

     

    Thanks,

    Anish

    Image:

    Comment

     

    • Neil Ramsay

      Just to be clear: this is a GL Journal level secondary ledger - right?

    • Neil Ramsay

      The source of these journals is Spreadsheet which means that they are manually created. Subledger Accounting doesn't automatically generate manually created journals in the seconday ledger.

      If they are  journals that are being manually created (via spreadsheet) directly in GL, I think it will use the same date. Please review the rate type set up in the ledger confirguation for the secondary ledger.

      • Anish Saini

        Hi Neil,

        Subledger accounting has nothing to do with this. Yes these are being created manually in Primary Ledger through spreadsheet upload. The journal is getting copied over to secondary ledger (once posted in Primary) because of Primary to Secondary Ledger mapping. Both primary and secondary ledgers have the same exchange rate type specified. 

        I have an SR opened with Oracle. Let's see what they say.

         

        Thanks,

        Anish