Skip to main content
Qiniso
Member
Oct 27, 2023 10:40 AM UTC

Functional currency not Translating correctly to Reporting currency

Hi All, 

For some reason, local entities are translating incorrectly to reporting entity - they are not using the FX rates given. The FX setting are to use scenario FX rate setting (see screenshot), not the cube. 

Qiniso_0-1698402877206.png

When doing the recon - I identified the differences when translating (see screenshot). Additional, it's taking amount not reported in local entity, and reporting it to reporting entity. 

Qiniso_0-1698403236047.png

 

What could be the problem?

7 replies

Employee - Guide
chulEmployee - Guide
Employee - Guide
Oct 27, 2023 2:28 PM UTC

Could be many things but given you're looking at CF, take a look at your account and flow settings to ensure they're correct.

QinisoAuthor
Member
Oct 29, 2023 5:12 PM UTC

The account and flow settings are correct. What else possibly I can look at?

RafaelVidal
Newcomer
Oct 29, 2023 6:58 PM UTC

Let's start with basics, does AccountTypes are correct, on each account? 

QinisoAuthor
Member
Oct 30, 2023 7:05 AM UTC

yes they are correct.

Employee - Guide
chulEmployee - Guide
Employee - Guide
Oct 31, 2023 8:16 PM UTC

I'm unable to follow the screenshot but my suspicion is that you're using a flow account type along with flow member with the switch type set to true resulting in the account becoming a balance account type which translates at the closing rate based on your settings.

QinisoAuthor
Member
Nov 1, 2023 8:10 AM UTC

I'm using revenue account type, and switch type is set to false

Terms & ConditionsAccessibility statement