Specifying Default Translation Settings
By default, the system provides standard translation methods on all accounts with either a time balance property of Flow or Balance. You can select to change these settings and specify a default translation method and rate account for the application.
Security rights for Default Translation Settings- Only service administrators can modify Default Translation Settings.
- Power users can view Default Translation Settings.
- Users and Viewers cannot modify Default Translation Settings.
System Default Translation Settings
When an application is first created, the system creates the following settings by default.
Balance account
- Translation method: Periodic
- Rate Account: Ending
Flow account
- Translation method: Periodic
- Rate Account: Average
You can select different translation settings for the application to use by default. Default translation methods are applied throughout the application unless Point of View specific overrides exist.
Note:
Any changes to the default translation settings impact existing data in the application. The calculation status changes from OK to System Change, and the status for all reporting currency changes to Needs Translation. This applies to both locked and unlocked entities.To specify default translation settings: