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Topic

    Harnesh Wadhwana
    Retained earnings for First year in FCCS
    Topic posted October 23, 2019 by Harnesh Wadhwana, tagged Consolidation, Income Statement, Translations 
    57 Views, 1 Comment
    Title:
    Retained earnings for First year in FCCS
    Summary:
    Retained earnings for First year in FCCS
    Content:

    Hi Guys,

    How to handle retained earnings for the very First year for each entities in FCCS ?

    what POV and what Exchange rate type should be selected to post those entries?

    Comment

     

    • Paul Wilcock

      Hi,

      I would suggest you set up your retained earnings accounts as either historic amount override or historic rate override.  When you migrate the first period you would then override the local currency amount with either the amount or rate required to match to the source system.