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Entering Period Rates

You can maintain period-average, period-end, and revaluation exchange rates for any foreign currency you have enabled. General Ledger uses:

General Ledger performs both translation and revaluation in accordance with SFAS #52 (U.S.).

Note: If you change a period rate after you've already run translation, you must retranslate your account balances for the period whose rate has changed.

Warning: If your functional currency is that of a European Monetary Union (EMU) member state, you must create the EMU relationship for your existing currency before you enter period rates for any period that is the same as or which follows the period of your effective starting date in the EMU.

For example, if your effective starting date is 04/20/1998, do not enter period rates for April or May of 1998 until you have created the EMU relationship for your existing currency.

If you enter period rates first, you will have to delete those rates, then back out the effects of any journals that used the rates, before you create the EMU relationship. Otherwise, you can corrupt your General Ledger data.

See: Defining European Monetary Union Relationships.


   To enter a period rate:

See Also

Translating Balances

Revaluing Balances

Using Period Rates with European Monetary Union Currencies

Defining Calendars

Defining Currencies

Overview of Multi-Currency Accounting

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