[Jason Kaulback Contributions: 0Level 1☆]

Hello,

I am having issues getting consolidated financial statements to translate currencies properly (using OneWorld). I have a parent company with USD currency. They have a Japanese subsidiary that properly report in Yen. When consolidating the reports, it shows the same Japanese bank balance (on the balance sheet) as USD (i.e. 4 Million Yen in the Japanese entity shows as $4 Million USD in the consolidated statement).

It appears as though I have the currencies and subsidiaries set up properly, but I’m obviously missing something. I have multi-currency enabled and each subsidiary has the proper currency. Looking at the base currencies, both the USD and Yen are listed as base currencies, but my understanding is that this is necessary for the subsidiary-only statements.

Any help would be greatly appreciated.

Jason
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[Olivier Gagnon NC Contributions: 0Level 1☆]

Hmmm. What about your Consolidated Exchange Rates? Did you double check them?

[Jason Kaulback Contributions: 0Level 1☆]

Olivier, that’s exactly the problem. This subsidiary is new and previous month’s closings defaulted to 1.00 exchange rate (which didn’t matter then). Problem resolved, thanks!

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