Historical (H) translation method
The historical translation method is also designed for balance sheet accounts and the exchange rate can be any rate desired for the period. Exchange rates are specified by entity, account, and version.
The historical translation method is designed to accumulate the individually translated periods in order to retain the original translated value. An opening balance period is used in the historical translation method to bring forward past translated value. 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 | 990 | 1089 | 990 | 8,044 |
| Period | January YTD | February YTD | March YTD | Quarter 1 | |
| Data | 5,000 | 6,000 | 7,100 | 8,100 | 8,100 |
| Translated Values | 4,975 | 5,965 | 7,054.00 | 8,044.00 | 8,044.00 |