Tips when using currency translation in Management Reporter

Below are a few things to be aware of when using currency translation for Management Reporter. While the list is not exclusive, it some of the more common things that we’ve seen.

• Translation type set on the account will apply to all accounts with that main segment.   Account 000-1100-00 has a translation type of Current. All accounts with 1100 as the main segment will use Current as the translation type. Even if account 000-1100-01 is set to use Average, the Current rate type is applied since the main segment is 1100.

• Rates missing for periods of time.  MR honors the start and end dates of rates with GP.  If there is not rate for a given period (ex. May), May data will not get translated.  Rates must exist for all dates, going back to the first period and year that transactions were posted.  
• Dates for exchange rates overlap. The start and end dates for an exchange rate should not overlap. For example, a rate that started on 1/1/2016 and ended on 2/1/2016 and the next rate starts 2/1/2016 and ends 2/29/2016. The first rate should end on 1/31/2016, or the second rate should start 2/2/2016. 
  
• In the Column Definition there is a field called Currency Filter. This is not related to currency translation. It can be used to filter a column to only show transactions entered in a specific currency. In GP, if transactions were entered in two different currencies in the same company but data was needed for only transactions entered in one specific currency that currency could be entered as a Currency Filter. That column would then only show transactions entered in that currency.
  

• MR can return a translated amount even when there is a $0 balance in the functional currency. A simple example to explain this:

1. An account is set to use Historical for the translation type.
2. Debit Amount of 1,000 posted to the account on 1/15/2016. Exchange rate on that date of 1.1, so the translated amount is 1,100.
3. Credit amount of 1,000 posted to account on 1/22/2016. Exchange rate on that date of 1.2, so the translated amount is 1,200.
4. report generated on 1/31/2016.  The amount in the functional currency is $0. The translated amount will be a credit of -100 (1,100-1,200).
5. This situation can occur with accounts set to Historical or Average translation types.