Closing (F) translation method
The closing translation method is designed for balance sheet accounts and the exchange rate is expected to the closing rate for the period being translated. In the example, the rate would be the closing rate for the month.
The closing translation method multiples the period data by the period exchange rate. In the year-to-date period hierarchy, the data is first summed and then translated. An opening balance period is used in the closing translation method and an opening balance rate is entered.
Example
| Period | Opening Balance | January | February | March | Quarter 1 |
|---|---|---|---|---|---|
| Data | 5,000 | 1,000 | 1,100 | 1,000 | 8,100 |
| Exchange Rate | .995000 | .990000 | .990000 | .990000 | - |
| Translated Values | 4,975.0 | 990 | 1089 | 990 | 8,019 |
| Period | January YTD | February YTD | March YTD | Quarter 1 | |
| Data | 5,000 | 5,990 | 7,100 | 8,100 | 8,100 |
| Translated Values | 4,975 | 5,930.1 | 7,029.00 | 8,019.00 | 8,019.00 |