Overview

Translation is a sub-module of Global Finance. The translation process enables the general ledger of a company to be reported in a different currency, using a user-specified exchange rate or combination of rates.

Key Benefits

Translations allow for the reporting of the balance sheet, profit and loss, or complete ledger in another currency.
The general ledger may be translated at a transactional level, balance level, or a combination of the two.
The translation process may be run multiple times into multiple currencies.
No transactions are created by the translation process. Results are available for reporting or for use with the Consolidations module.

Definition of terms

Local currency - The base currency of the subsidiary.
Functional currency - The processing currency of the main organisation.
Presentation currency - The currency in which the company is legally required to report.
Translation currency - The presentation or functional currency that the local currency will be converted to.

Integration

You can use the Translation module with the Global Finance Consolidations module, or by itself.

The module also integrates with Foreign Currency.