Currency Translation for Consolidated Reporting

John Ellis
John Ellis used Ask the Experts™
on
Hello:

For Management Reporter 2012, I have been told that the one way of conducting Currency Translation for Consolidated Reporting is to have the Column Definition contain the company in the "Reporting Unit" field and the applicable currency in the "Currency Source" field.

The only concern that I have about this approach is that you could conceivably have dozens of columns, if you have many companies in GP each with multiple currencies.

Is there an alternative?

Thank you, so much!

John
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Business Consultant (Owner)
Most Valuable Expert 2012
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Commented:
The only other way I know is to convert foreign currency into the local currency of your main ledger and report Company Revenue and Expenses in one currency. I think this is a common way to do things.
JohnBusiness Consultant (Owner)
Most Valuable Expert 2012
Expert of the Year 2018

Commented:
@John Ellis - Thanks and I was happy to help.

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