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Overview
This functionality is used to print financial statements in a different currency.
NOTE: This is not standard functionality. To use this feature, please contact CMiC Support.
Setup
Pgm: GLCTRLFM – GL Control File; standard Treeview path: General Ledger > Setup > Local Tables > Control File Options
Enter the currency translation account code and name in the GL Control File screen.
NOTE: The account code entered in the Currency Translation Account Code field on the GL Control File screen must not be present in any chart code.
Pgm: GLCTCALC - Process Currency Translation
The Process Currency Translation screen is used to perform the currency translation. The fields contained on this screen are described below.
Company
Enter/select a valid company code that has at least one reporting currency assigned. The user must have access to this company.
From Year/Period (optional)
Enter a valid fiscal year and period. If year is entered, then period must also be entered. The Start Date and End Date fields of the selected period are auto populated.
To Year/Period
Enter a valid fiscal year and period. If From Year/Period fields are completed, they will default into the To Year/Period fields, but can be updated as required. The values in the To Year/Period fields must be greater or equal to the From Year/Period fields.
Reporting Currency
Enter/select the reporting currency. Reporting currencies assigned to the selected company will be listed.
[Process] - Button
This button is used to process the currency translation.
Currency Translation Process
The following section provides a detailed example to demonstrate how this functionality is used.
Define Reporting Currency in Company Setup
Pgm: COMPFRM – Company Setup; standard Treeview path: General Ledger > Setup > Local Tables > Company Setup
The Company Setup screen is where reporting currencies are entered for a selected company. This example uses a company called "RV123456".
Reporting currencies in RV123456 are "CAD", "GBP", "MXN".
Verify Exchange Rate
Pgm: BAEXCHRT – Exchange Rate Maintenance; standard Treeview path: System > Global Tables > Banking > Exchange Rates
The Exchange Rate Maintenance screen is used to define and maintain the foreign exchange rates associated with specific bank accounts.
The exchange rate for USD to CAD is "1.30".
Review FDF Document in USD Currency
Consolidation Code: RVALL
Currency: USD
Period: 2020-12
Print Preview in USD
Process Currency Translation Using CAD as Reporting Currency
Pgm: GLCTCALC - Process Currency Translation
In the Process Currency Translation screen, select "CAD" as the reporting currency.
NOTE: Exchange rate for USD to CAD is "1.30".
Pgm: GLCTCALC - Process Currency Translation
Click on the [Process] button. When processing is complete, a status message will be displayed in the Processing Status field.
Print FDF Document in "CAD" Currency
F1003 Document in CAD
Print Preview in CAD
| YTD Balance (USD) (A) | YTD Balance (CAD) (B) | Ratio of (A/B) |
|---|---|---|
| -31,415.78 | -40,840.52 | 1.29999999 |
| 7,011.84 | 9,115.39 | 1.299999943 |
| 24,402.33 | 31,723.02 | 1.30000002 |
| 1.617 | 2.103 | 1.300556586 |
| -31,415.78 | -40,840.52 | 1.29999999 |
| 123.059 | 159.977 | 1.300002438 |
| 5.056 | 6.573 | 1.300039557 |
| -0.008 | -0.01 | 1.25 |
| -0.053 | -0.069 | 1.301886792 |
| 128.055 | 166.472 | 1.300003905 |
| 31,543.84 | 41,006.99 | 1.300000006 |