If you use the Multicurrency feature with the Consolidated Reporting feature, you must specify currency translation methods for the consolidation group when the functional currencies of the companies in the group are not the same. Do this on the Translations tab.
Select a method for determining the exchange rate to use: period end rate, period average rate, or historical rate. If you select the historical rate option, Vision gets the exchange rates from the daily exchange rates table based on the dates of the individual source transactions. For transactions dated earlier than the earliest exchange rate date, Vision uses the rate entered for the blank date, if one exists. If no rate exists for the blank date, Vision uses an exchange rate of zero.
The exchanges you set up through period exchange rates in Configuration determine what rates Vision uses when translating functional currencies for the companies in a single consolidation group.
Contents
Header Information
| Field | Description |
|---|
| Assets
|
Select the method to use to determine exchange rates for asset accounts when the functional currencies of the companies in the consolidation group are not the same. The options are period end rate, period average rate, and historical rate.
|
| Liabilities
|
Select the method to use to determine exchange rates for liability accounts when the functional currencies of the companies in the consolidation group are not the same. The options are period end rate, period average rate, and historical rate.
|
| Net Worth
|
Select the method to use to determine exchange rates for net worth accounts when the functional currencies of the companies in the consolidation group are not the same. The options are period end rate, period average rate, and historical rate.
|
| Revenue
|
Select the method to use to determine exchange rates for revenue accounts when the functional currencies of the companies in the consolidation group are not the same. The options are period end rate, period average rate, and historical rate.
|
| Reimbursables
|
Select the method to use to determine exchange rates for reimbursable expense accounts when the functional currencies of the companies in the consolidation group are not the same. The options are period end rate, period average rate, and historical rate.
|
| Directs
|
Select the method to use to determine exchange rates for direct expense accounts when the functional currencies of the companies in the consolidation group are not the same. The options are period end rate, period average rate, and historical rate.
|
| Indirects
|
Select the method to use to determine exchange rates for indirect expense accounts when the functional currencies of the companies in the consolidation group are not the same. The options are period end rate, period average rate, and historical rate.
|
| Other Charges
|
Select the method to use to determine exchange rates for other revenue and expense accounts when the functional currencies of the companies in the consolidation group are not the same. The options are period end rate, period average rate, and historical rate.
|
Account Translation Overrides Grid
| Field | Description |
|---|
| Account Translation Overrides drop-down
|
Click the drop-down arrow on a grid header to complete any of the following actions:
- To print grid data, click
Print. On the Print Preview form, click
to send the grid data to your default printer.
- To export grid data to an Excel spreadsheet, click
Export to Excel. When Microsoft Excel opens, use its features to modify, print, or email the grid data, or to save the spreadsheet file locally.
- To turn on grouping for a grid, click
Enable Grouping. When a field displays with the instruction: "Drag a column header here to group by that column," drag and drop column headers into the field, in the sequence that you want them to display.
Not all options are available on all grids.
|
 Insert
|
Click this option to insert an account translation override on the grid.
|
 Delete
|
Select an account translation override and click this option to remove it from the grid.
|
| Account
|
Enter or select a single account that is an exception to the translation method specified for its account type.
For example, if you specify Historical Rate as the method for Asset accounts but want to set up a different translation for a specific asset account, you select that asset account here and use the corresponding
Method field on this grid to select the alternate method.
|
| Name
|
This field displays the descriptive name for the account.
|
| Method
|
From the drop-down list, select a translation method for the individual account: period end rate, period average rate, or historical rate.
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