AR Currency Rounding GL Report (GL235)

Run AR Currency Rounding GL Report (GL235) to print a report of the rounding transactions that were posted to the GL rounding account as a result of a currency rounding from the cash application process within Accounts Receivable.

Use this report only if your company has a base currency that is regulated by the European Monetary Union (EMU) Treaty, and you need to account for rounding discrepancies resulting from cross-currency cash applications between your base currency and the euro. Use this report to verify that only this type of rounding transaction is posted to the GL rounding account. Currency rounding transactions involving other cross-currency transactions should be removed manually from the account.

Process at a Glance

  1. Use GL Code (AR15.7) to define a rounding account.

  2. Use Application Closing (AR190) to post rounding adjustments to the rounding account.

  3. Run this report to generate a listing of all the entries made to the rounding account.

  4. Use Journal Entry (GL40.1) to move entries that do not belong to the account out of the account.

    Note: The GL rounding account should contain only cross-currency rounding adjustments resulting from currency exchanges between the company base currency and the euro. All other entries should be moved out of the rounding account through manual journal entries.