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Summary:
When you go to Process Multi
Currency in PS 8.4, there are two components, Translate and Tanslate Within
Ledger. All of the pages in both ledgers are the same, so what is the difference
in functionality between them?
Answer1
Translate and Translate Within Ledger are two different methods used for the
translation of currencies. In the Translate method we translate into currencies
by specifying a seperate ledger group, whereas in Translate Within Ledger,
translation is done in the same ledger group and no seperate ledger group is
maintained for the translation.
Answer2
Translate Within Ledger Group will perform the translation at the detail level,
and Translation to another ledger group will translate at a summary level. This
is an important consideration for reporting purposes. Also, there are some
situations, depending on base vs. functional currency of a BU, where translating
within the ledger group will not be compliant with FAS52. Translate Within
Ledger Group translates from the primary ledger to your consolidation ledger,
whereas in translating to another ledger group, you can choose any ledger within
your primary group as your source.*Questions excerpted from
ITToolBox.com*
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