Multicurrency translation for fixed asset depreciation accounts

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Posted on by DH-17091352-0

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When running MR reports, we need to convert from one currency to the reporting currency. We have everything set up and working perfectly....except for our fixed asset depreciation. Our fixed asset account is set to translate using an historical rate. However, how do we set the accumulated depreciation account to do the same. Each month the depreciation is posted on a new date. When Management Reporter translates it uses this new date as the historical date and related rate. We need to be able to report this depreciation using the original Fixed asset rate.

Example: Purchase a fixed asset on January 1, 2016 10,000 CAD at a rate of 1.1000 USD. The asset will show up on my USD financials as $11,000. Each month we depreciate $100. On February 1 we depreciate $100 CAD. but the current rate is 1.3000. On my USD financials this will show up as $130. It should show up as $110.

Does anyone have a possible solution for this?

Thanks

Debra

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