Consolidating foreign subsidiary example
You can also force the exchange rate if necessary, but I don’t like the idea of doing that as the history is lost each time you run the consolidation.
Just like with the Management Reporter option, when you translate financial statements you end up with a Currency Translation Adjustment (CTA).
The exchange rate type determines the currencies and exchange rates you want to apply to the account and the exchange rate date determines which exchange rate to use for each account range.
There are four options: weighted average, average, current, or transaction date.