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Translation FX rate - how to do legal entity override?

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Posted on by ssullivan20190

Within the Main accounts page in General ledger, there is an option for Currency translation type on the Financial reporting FastTab. How do I specify a legal entity override for this rate?

Please note I am particularly referring to the Currency translation type (ie for management reporter) and not the standard 'Exchange rate type' or 'Reporting currency exchange rate type'

Thank you!

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BillurSamdancioglu 20,825 Most Valuable Professional on at

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Hi,

In which scenario do you need to use legal entity over ride for fx translations?

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ssullivan20190 80 on at

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Hi,

Thank you for your reply

For our share capital main account we use historical 'fixed rates' for various company acquisitions that we have had over the years.

Therefore, a single translation rate is not sufficient, we need to have entity-specific rates for this account to appear in our Group reports (in management reporter)

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Frank Hamelly | MVP... 46,631 Moderator on at

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Maybe this will work. For the capital main account, set the Currency translation type to "Transaction date". That will use the historical rate posted with the original transaction. Since transactions are legal entity specific, this could be the solution.

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