CONSOLIDATION EQUITY ACCOUNTS OVERRIDE

You will be able to access this application only if you are licensed for Multicurrency and the Consolidation Calculation Method in the Consolidation Settings screen is set to Inception-To-Date.

Use this application to enter exceptions (by account) to the prior years stockholders' equity accounts translation (which is, by default, historical exchange rates).

Stockholders' equity accounts entered in this screen use the weighted average historical rates. If you are licensed for Costpoint Multicurrency, you can set up and maintain historical and weighted average historical exchange rates using the Maintain Exchange Rates by Period or Enter Period Rates screens in Costpoint Multicurrency.

If you want to convert statutory (functional) currency stockholders’ equity balances to another company as part of the consolidated financial statements process, you can execute this process using either historical rates or weighted average historical rates.

When a stockholders' equity balance has a single transaction posted to that specific account, you can apply the actual historical rate from the Maintain Exchange Rates by Period screen in Costpoint Multicurrency. When multiple transactions have been posted to that specific account, you cannot do this. The main cause of this currency conversion issue is the fact that each individually posted record needs the historical rate established on the day of the transaction. During the consolidations process, the entry from the sending to the receiving company is based on balance-level amounts, rather than the transaction-level amounts from which the balance is compiled.

If a stockholders' equity account has multiple transactions, you must manually calculate a weighted average historical rate and enter it in the Maintain Exchange Rates by Period screen in Costpoint Multicurrency. You can then apply a weighted average historical rate based on the individual historical rates for each transaction in a stockholders' equity account.  You essentially force the desired result into the consolidation process.

This is the second step in the consolidation process. In this screen, you determine whether any stockholders' equity accounts will use a different historical exchange rate during the translation to the reporting currency.

Account

Enter, or use Lookup to select, the account for which the exception must be recorded.

Account Name

This non-editable field automatically displays the account name.

Table Information

Data entered in this screen is stored in the CONS_EQTY_ACCT_OVRIDE table.