Hi All ,
I have one question about the consolidation , hope fully you all share your experience.
I have 3 companies - USA , AU, FR , parent company is USD.
When it comes to Consolidation process we need to consider the different exchange rates for the Balance sheet , P&L and Fixed Asset accounts.
Closing rate for Balance sheet accounts.
Avearage rare for Profit & loss accounts.
Transaction date for Fixed Asset accounts.
During consolidation process in the consolidation online form , we will define the main account codes then system would consider the General ledger entries only for consolidation . It does not consider the subledger entries of Customer , Vendor and Fixed Asset.
I have a doubt about the Transaction date for the Fixed Assets. Fixed Assets has the two dates Actual Acquistion date and Transaction date ( Opening balance date in Ax )
Assume that client is going on Go-live 04/01/2014 , So generally we will upload the opening balances of G/L(main account) , Sub ledger( Customer , vendor , bank , Item , FA ) on 03/31/2014.
But the question is on which date i need to upload the FA opening balances because some assets had purchased in 2010, 2011 , 2012 also.
Exchange Rate - 5/15/2010 - 1USD - 1.25 AUD.
Fixed Asset purchased on 5/15/2010 - 8000 AUD (Company Currency)
Fixed Asset value was on 5/15/2010 - 6400 USD (Reporting currency)
If i upload the FA opening balances on 3/31/2014 , then during consolidation system would take the exchange rate on 3/31/2014, but actual asset acquistion date ( transaction date ) was on 5/15 /2010.
Exchange Rate - 3/31/2014 1 USD - 1.75 AUD.
Assume that i uploaded the FA opening balances on 3/31/2014 , but General ledger level ( Voucher entries ) there is no field to update the Actual asset acquistion date .
If i upload the FA opening balances of Acquistion amount and Accumulate depreciation amount on 3/31/2014 , during consolidation system would take the exchange rate of 3/31/2014 , then After consoidation system would show the wrong amount , but it suppose to take exchange rate on 5/15/2010.
So my question is do I need to upload the FA entries based on Actual Asset acquisition date (05/15 /2010) or prior to Go-Live date ( 3/31/2014). ?.
Thanks in advance.
