Adding a report currency journal entry

Note: If you combine GL40.1 and GL44.1 journal entries on one journal entry, then you need to correct out-of-balance conditions for either form manually.

See Releasing non-base currency journal entries.

Use this procedure to create journal entries in report currency only. A typical use of this procedure is to clear out the report currency rounding adjustment account so it does not appear in a balance sheet statement. This procedure is used only to create new report currency transactions. You cannot modify existing report currency transactions using this form. However, you can combine in the same journal entry transaction (or base) currency entries entered on GL40.1, and report currency entries specified on Report Currency Entry (GL44.1).

You can use this procedure only if your company has a report currency defined.

Follow these steps to add a report currency journal entry:

Access Journal Entry (GL40.1).
Select the company for which you want to create a report currency entry and use the Inquire form action.
Click the New JE link to open Define Journal (GL40.2) and specify a journal entry number and description.

Note: The Report Currency Entry button displays only if the company has at least one report currency defined.
Return to GL40.1 and click the Report Currency Entry link to access Report Currency Entry (GL44.1).

Note: The journal entry lines you specify on this form must be in balance. The General Ledger application does not auto balance these entries.
Specify the report currency journal entry lines. Use these guidelines to specify the field values:

Account

You must specify the accounting unit and account to which the transaction is posting. The journal entry must contain at least two entry lines, one for a credit amount, and one for a debit amount.

Example:

On the sample form clip, a debit amount is posted to the rounding adjustment account (36000) and an offsetting credit amount is posted to the currency gain account (37000).

Amount

Specify the amount of the transaction in report currency one, report currency two, or both report currency one and report currency two.

Example:

A debit amount of $35.53 is posted to the rounding adjustment account for Report Currency One, to offset an existing credit amount of $35.53-. As a result of this journal entry, the rounding adjustment account is cleared, and the credit amount of $35.53- is instead posted to the translation currency gain account.