Currency translation codes

For each currency relationship that you use to translate a company's financial statements, you can define several sets of rates, if necessary. To differentiate between sets of rates for the same currency relationship, translation codes are used. Translation codes are used to identify the rate type and ensure that the correct period rate is applied when translating an account.

These translation codes are automatically delivered:

Translation code	Rate type
BS Balance Sheet	Ending Balance
IS Income Statement	Period Balance
HB Historical Balance	Historical Balance
RB Retainer Balance	No Calculation

As accounts are added, a translation code is automatically assigned to the account based on the following table. The default translation code can be overridden by populating the Translation Code field on the account with a user-defined translation code.

Accounts	Assign
Balance Sheet	Translation code = BS-Balance Sheet Rate Type = Ending Balance
Income Statement	Translation code = IS-Income Statement Rate Type = Period Balance

To use a different set of period rates for a reporting basis, you can create translation codes with their own period rates. You can then assign your translation codes to the applicable accounts in the chart that is used by the reporting basis.