Creating report currency beginning balances

Because report currency translation translates period activity, and creates 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.

Create report currency beginning balances

  1. Access Ledger Balance Interface Maintenance (ML67.1).
  2. Specify report currency beginning balances.
  3. Specify this information:
    Organization Code

    Specify the organization code, or the 4-digit Lawson company directly followed by the accounting unit.

    Account Code

    Specify the account code or the 6-digit account number and 4-digit subaccount number.

    Currency One Amt

    Specify the report currency one beginning balance. For example, the beginning balance for the checking account is $156,598.60 USD. Report Currency 1 for Redland Corporation is French Francs (FRF). The translation rate is 7.00.

    $150,000 USD * 7.00 = 109,619.20 FRF.

    Note: ML67.1 edits to verify if you have report currencies defined.
    Currency Two Amt

    Specify the report currency two beginning balance, if applicable.

    Note: ML67.1 edits to verify if you have report currencies defined.

    Beginning balances in Currency One or Currency Two must net to zero (0). For example, If you specify a beginning asset balance of 109619.20.00 for currency one (FRF) you must also specify liabilities and equity amounts totalling 109619.20.00 FRF.

  4. Update the beginning balances, using Access Ledger Balance Interface (GL167).
  5. Specify this information:
    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 ML167 to check for errors. Make corrections using ML67.1. When you are satisfied with the results, run ML167 again with Yes in this field.
    Bypass Org Code

    Select Yes to have the system bypass Organization Relationship (GL08.1) and convert the data in the Organization Code to the company and accounting unit or level.

    Bypass Account Code

    Select Yes to have the system bypass Account Relationship (GL09.1) and convert the data in the Account Code to the account and subaccount.

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