Define General Configuration - the Translation Tab

You can use this tab to define general features for currency translation.

  • If you use linked actuality and want to use other historical rates then the ones retrieved from the actuality according to the Actuality for LC column.
  • If historical rates are only to be registered on one actuality and period.
  • If accounts with translation code I are going to be calculated in detail for company journals.
  • If accounts defined with translation method 2 is going to perform calculations according to the current method rules.
  • If translation differences should be stored at the extended dimension level. This option is valid when running the currency translation according to the MNM method only.

Procedure

  1. On the Maintain menu, select Configuration/General. The General Configuration window opens. Select the Translation tab.
  2. Select the relevant currency translation options:
    • Actuality for LC is Not Used for Historical Rates: If you use linked actuality, you select this option to use other historical rates than the ones retrieved from the actuality according to Actualities for LC column in Define Actualities.
    • Actuality and Period Used for Historical Rates: Select this option to store all historical rates on a fixed actuality and period.
    • Detailed Currency Translation of I-coded Accounts on Journals: Select this option to perform a detailed currency translation of journal accounts with translation code I.
    • Translation Method 2 Will Translate Using the Current Method: Select this option to currency translates all accounts defined with translation method 2 according to the current method rules instead.
    • Book Currency Translation Difference on Extended Dimension: This option is valid when running the currency translation according to Method 2 (MNM) only. When using the MNM method the currency translation difference is calculated as a balance item in the Profit & Loss Account. If the Profit & Loss Account, but not the Balance Sheet, is divided into extended dimensions, you have to decide on which extended dimensions you want to book any currency translation difference. When this option is selected the text boxes for the extended dimension activated on the General 2 tab are enabled.
  3. Click Save and open the Reconcile 1 tab.