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Qiniso's avatar
Qiniso
New Contributor III
2 years ago

Functional currency not Translating correctly to Reporting currency

Hi All,  For some reason, local entities are translating incorrectly to reporting entity - they are not using the FX rates given. The FX setting are to use scenario FX rate setting (see screenshot)...
FX Rates
chul's avatar
chul
Contributor III
2 years ago

I'm unable to follow the screenshot but my suspicion is that you're using a flow account type along with flow member with the switch type set to true resulting in the account becoming a balance account type which translates at the closing rate based on your settings.

  • Qiniso's avatar
    Qiniso
    New Contributor III
    2 years ago

    I'm using revenue account type, and switch type is set to false

  • Qiniso's avatar
    Qiniso
    New Contributor III
    2 years ago

    For example: this below is translated to reporting currency report

    And the below is local currency report 

     

      RatesTypeRate
    Revenue and ExpensesAverageRate9.38191
    Asset and LiabilitiesClosingRate9.39572