Preparing to Translate Ledger Balances

General Ledger translates posted balances into different currencies according to the rules you define, and calculates gains or losses due to restatement. You can run translation at any time because it is a background process. General Ledger can perform regular translation on any type of ledger.

If you perform multiple translations for each business unit—such as a remeasurement followed by translation— General Ledger enables you to define a separate set of processing rules for each translation. It considers each translation as a translation step.You can process as many translation steps as you require at one time.

Note: Although remeasurement is considered a separate process to precede translation under FASB 52, it is defined in General Ledger as a translation step with different exchange rates. To perform a remeasurement, set up a translation step as described in this section to translate your base currency balances to functional currency balances. You can also use the multibook feature to maintain a secondary ledger in your functional currency.