Can anyone explain how they are doing foreign translations into US currency in conjunction with FASB 52? Currently our system is translating as of the posting date and in subsequent periods it does not “re-value” the asset or liability, and subsequent currency translation adjustment based on the current period end rates. How are others dealing with this issue?
Hello David, Are you running the General Ledger Periodic Activity for Adjusting Exchange Rate for Balances on Customers, Vendors and Bank Accounts? This will translate the balances to the Period end rate. Regards, Byron