Hi All ,
when it comes to Consolidation in the Axapta or Navision , we need to take the closing rate for balance sheet accounts and average rate for P& L accounts .
Can any one explain what does it mean by Closing rate and average rate and how to consider these rates ?
Thanks in advance
Here closing rate means year end / month end day rate and average rate is average rate of given duration or period.
Thanks for the reply.
Can you explain with an example.[:(]
If the financial year Jan-Dec, closing rate means as on 31-Dec currency rate. Avarage rate is a avarage rate of all the rates.
Example. USD to INR
Date Currency Rate
Average Rate 54.40 (Formula—> Sum all the rates(272) / Count (5))
Closing rate 54.50