My client would like to start using Management Reporter to Consolidate a US company with multiple foreign entities, translating the foreign entities into US dollars. Each company is a separate database configured with their home country currency. All the transactions in each country are within their own currency and do not cross companies. MR currently does individual balance sheets and income statements but does not do any consolidation.
Within the US company, they have rate tables for each of the foreign currencies which are maintained on a monthly basis with new rates entered at the end of each month.
The foreign countries are denominated in their own currencies, but have not rate tables.
There is a foreign currency setup document for Management Reporter, but it is not very clear. Is there anyone out there that has completed this type of setup?
If so should the rate tables reside with the US company or should they be within each foreign company?
Look forward to a reply.
JG
