Define Balance Versions
Explanation
This activity is used to define balance versions.
Prerequisites
In order to perform this activity, a master company (i.e. a company with the
Master Company for Group Consolidation check box selected in the Company/General
tab) should exist.
System Effects
As a result of this activity, balance versions will be available to be used
in the Group Consolidation process.
Window
Balance Versions
Related Window Descriptions
Balance Versions
Procedure
To define a balance version:
- Open the Balance Versions
window and create a new record.
- Enter an ID for the balance version in the Balance Version field
and a description in the Description field.
- Select the Income Statement Period Rates Check Box if
the income statement balances should be translated to individual currency
rates for each period included in the consolidation.
- Select the Calculate Period Balances check box if
period balances should by default be calculated for the selected balance
version.
- Enter a currency code in the Group Currency Code field
if you want to calculate consolidated balances and parallel consolidated
balances in group currency code.
- Select a value for the Actual/Budget field to specify whether the
balance version should be used to transfer actual balances or budget
balances.
- Enter the required values in the Income Statement Rate Type and
Balance Version
Rate Type fields to specify which currency rate types should be used
when currency conversion is needed for transferred balances and adjustment
journals. The List of Values can be used to select the
relevant currency rate types.
- Enter the ID of the reporting entity reporting group in the Reporting
Entity Reporting Group field to restrict the balance transfers only to
the reporting entities connected to the reporting entity group.
- Save the information.
To define an alternative balance version:
- Open the Balance Versions window and create a new record.
- Enter an ID for the alternative balance version in the Balance Version field
and a description in the Description field.
- Select the Income Statement Period Rates Check Box if
the income statement balances should be translated to individual currency
rates for each period included in the consolidation.
- Select the Calculate Period Balances check box if
period balances should by default be calculated for the selected balance
version.
- Enter a currency code in the Group Currency Code field
if you want to calculate consolidated balances and parallel consolidated
balances in group currency code.
- Select the Alternative Balance Version check box.
- In the Master Balance Version field, enter the balance version to be connected to the
alternative balance
version. The List of Values can be used to select the balance version.
- Select a value for Balance Version Type field. The value from the
connected master balance version is default.
- Enter the required values in the Income
Statement Rate Type and Balance Version
Rate Type fields to specify which currency rate types should be used
when currency conversion is needed for transferred balances and adjustment
journals. The List of Values can be used to select the relevant currency
rate types.
- Enter the ID of the reporting entity reporting group in the Reporting
Entity Reporting Group field to restrict the balance transfers only to
the reporting entities connected to the reporting entity group.
- Save the information.