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MR currency translation

Posted on by 4,150

I have CDN parent company USD sub company.  I am setting up a trial balance (initially Income Statement and Balance Sheet to following).

I have USD balance sheet account in the sub with credit balance $100 at the end of last year.  The balance at the end of August is $0.

Being a balance sheet account I have to pick YTD in the column set up to get the ending balance.  I want to do currency translation and the CAD is picking up the net change for the period of Jan to August.  which is Debit $100.

Do I have to enter an opening currency translation for all my balance sheet accounts so that the currency translation will go to zero?

thanks!

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  • Greg Byer Profile Picture
    Greg Byer 2,586 on at
    RE: MR currency translation

    Hi Ian,

    I would review the document below for steps on setting up currency translation in GP for MR.

    2575539 Consolidated Currency Translation with Management Reporter

    mbs.microsoft.com/.../KBDisplay.aspx

    If you want to convert the beginning balance you can do that in GP under Tools | Routines | Financial | Currency Translation.  

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