Report Currency Translation (GL196)
Run Report Currency Translation (GL196) to translate the company base currency and report currencies.
This program compares the ending and period base currency amounts with the report currency amounts. If there are differences between the two amounts, report currency translation updates the balances for the report currencies. For example, if the translation rate increases from 5 to 8 percent, the base currency amount is multiplied by 3 (the percentage change) to update the report currency amount. The system creates a journal entry to record the adjustments.
For more information, see the Currency User Guide.
Process at a Glance
The company base currency is translated using the translation table rate defined in Currency Table Translation Rates (CU20.1) and the translation code defined in Translation Code (CU05.1).
The Rate Type you select for the translation code in CU05.1 affects how the base currency and report currency amounts are translated. If you selected Ending or Historical, the year-to-date amounts are updated. If you selected Average, the amount for the period you select in this form is updated.
If your company uses zone balancing, offset transactions are generated in your transaction gain and loss accounts. Offset transactions are the amount difference between the exchange rate amount and the translation rate amount. Company zone accounts are defined in Interzone Relationships (GL30.1).