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    Katie McCorkle
    Different Exchange Rates for Balance Sheet and Income...
    Topic posted July 11, 2018 by Katie McCorkle, tagged Balance Sheet, Income Statement 
    312 Views, 4 Comments
    Title:
    Different Exchange Rates for Balance Sheet and Income Statement
    Summary:
    How to identify different exchange rates for Balance Sheet and Income Statement accounts
    Content:

    How can the system be configured to use a different set of exchange rates for Balance Sheet (ending rate) and Income Statement (average rate) accounts?  Previously this was done using the Flow/Balance Time Balance but all accounts in FCCS are left at Flow.

    Thanks!

    Comment

     

    • Keith Glide

      In FCCS, the Closing Balance is always "translated" at Ending Rate. Closing Balance is a parent member so it is not translated directly, but the FX Opening Balance and FX Movements calculations create an aggregated Closing Balance at translated currency that represents an Ending Rate translation.

      Movements are by default translated at Average Rate using the Periodic translation method. You can modify this to use either Average Rate or Ending Rate with either Periodic or YTD translation. The settings are in the Translation Override screen on the Translated tab of the Consolidation: Process screen (Default Settings button).

    • Katie McCorkle

      Thanks Keith!

      I've tried setting up a new Translation Override Rule but when I select an account for the scope I get an error message saying that member "is not a valid member of Account dimension.".  I've tried with a single base member, all level 0 members, and IDescendants as my choice and I receive the error each time.  Any suggestions on which selection to make for the account?

      • Keith Glide

        There is an outstanding issue related to selecting accounts in translation override rules (bug 21254183) that will be fixed in release 18.08 (beginning of August). This is a problem if a list that you select includes parent members. But you should be able to save after selecting individual base (level 0) members only. Try checking your user preferences... if you have selected anything other than "Default" or "Member Name", then this might be the problem. Try changing to "Default" and then try saving a level 0 account selection (not using a list).

    • Katie McCorkle

      Changing the alias allowed me to pick the correct account listing.  Thank you for your help!