Creating report currency beginning balances (GL/CU)

Because report currency translation translates period activity, and builds each balance sheet period on the balances of the previous period, you must specify beginning balances for balance sheet accounts manually if you start implementing report currency when you already have existing balances in the base currency. This can happen in these circumstances:

  • You are an existing Lawson Currency user and start implementing report currency for companies that have existing balances.

  • You are new to Lawson and want to implement report currency, and you are interfacing existing balances.

Follow these steps to create report currency beginning balances:

  1. Access Balance Interface Maintenance (GL67.1).
  2. Define report currency beginning balances using these guidelines:
    Organization Code

    Specify or select an organizational code as defined on Organization Relationships (GL08.1). This code identifies the Lawson General Ledger company and accounting unit.

    Account Code

    Specify or select an account code as defined on Account Relationships (GL09.1). This code identifies the Lawson General Ledger account and subaccount.

    Rpt 1

    Specify the report currency one beginning balance. For example, the beginning balance for Stock-Gifts is $150,000 USD. Report Currency 1 for LGE Corporation is Canadian Dollars (CAD). The translation rate is 1.73.

    $150,000 USD * 1.73 = 259,500 CAD.

    Note: GL67.1 edits to verify if you have report currencies defined. If you have Currency One defined, then the currency displays next to Rpt 1.
    Rpt 2

    Specify the report currency two beginning balance, if applicable.

    Note: GL67.1 edits to verify if you have report currencies defined. If you have Currency Two defined, then the currency displays next to Rpt 2.

    Beginning balances in Currency One or Currency Two must net to zero (0). For example, if you enter a beginning asset balance of 259,500.00 for currency one (CAD), then you must also specify liabilities and equity amounts totalling 259,500.00 CAD.

    Note: For more information on interfacing balances, see the Enterprise Financial Management Conversion Guide in docs.infor.com and the General Ledger File Layouts in KB2218730 in Infor Customer Portal.
  3. Update the beginning balances, using Access Balance Interface (GL167).

    Use these guidelines to specify the field values:

    Update

    Select No to print an error report you can use to edit your entries without updating the balances.

    Select Yes to update the balances.

    Note: Use the report generated by GL167 to check for errors. Make corrections using GL67.1. When you are satisfied with the results, run GL167 again with Yes in this field.
    Bypass Org Code

    Select Yes to have the system bypass Organization Relationship (GL08.1) if valid Lawson company numbers and account units have been specified in the Organization Code field on GL67.1.

    Bypass Account Code

    Select Yes to have the system bypass Account Relationship (GL09.1) if valid Lawson account numbers have been specified in the Account Code field on GL67.1.

  4. Optional. Access Trial Balance (GL291) and verify the results of the balance interface using these guidelines:
    Main tab

    • You must specify a company or company group.

    • You can specify up to six accounting units or report on all the accounting units.

    • The report can be for the current, last, or next year, or for a specific year or period.

    Organization tab

    1. You can specify up to six Accounting Units, Accounting Unit List, or a Level Group

    Individual Reporting tab

    • To print one consolidated company report, specify X in the Company field.

    • To print a separate report for each accounting unit (posting and summary) in that level, specify X in any of the level fields.

    Report Options tab
    In the Report Currency field, select Base (B) to print the report for base currency. Select One (1) to print the report for Report Currency 1. Select Two (2) to print the report for Report Currency 2. Select All (A) to print separate reports for each of the currencies.
    • To print a separate report that displays summary total for the Beginning Balance, Debit Activity, Credit Activity, and Ending Balance totals, set Separate Summary Totals Report to Yes.

Other methods for creating beginning balances

For more information about interfacing non-Lawson transactions, see the Enterprise Financial Management Conversion Guide in docs.infor.com and the General Ledger File Layouts in KB2218730 in Infor Customer Portal.

If you are a new Lawson company interfacing historical transactions, then you can also interface the transaction amounts in report currency and rebuild beginning balances from these amounts.

To Use
View and modify imported non-Lawson transactions in transaction and base currency Transaction Interface Maintenance (GL65.1)
View and modify imported non-Lawson transaction amounts in report currency The Report Currency button on GL65.1 to open Report Currency Entry (GL65.3)
Interface imported non-Lawson transaction to the General ledger and Currency applications Transaction Interface (GL165)
Rebuild report currency balances Rebuild Report Currency (GL327)