Currency Translation of Company Journals

You normally create Company Journals in local currency. You can also choose to create your company journals in the group currency or in any other currency.

Defaults in the system apply to the effect that you convert all transactions in detail with one exception. OB rates (conversion code I) are counted as an average of transactions that add up to the same CB and that you use as the OB rate for the following year.

If you also want to translate the currency in detail for OB rates, select Detailed Currency Translation to I-Coded Accounts on Journals. This function is enabled in the General Configuration, Conversion tab.

Note: As details are converted, it is important that the journal number order is not changed from one period to another. It is important above all for conversion codes C and I, but it is also significant for other conversions if you want the details to tally. To make sure that the journal number order is not changed, use the setting Copy Journals without Changing the Journal Number on the General Configuration, General 3 tab. We recommend this method if you are using conversion code C or detailed currency translation on I-coded accounts.

For more information, see Currency Translation of Company Journals.

If you want to create a company journal at a fixed/historic rate, you must define the account using conversion code E, F or G in the account structure, and update the historical rate register.

For more information, see The Register of Historical Rates.