by rwalliker » Mon Jan 08, 2018 11:46 am
FX IMPORT Use this facility to import a forecast from an overseas subsidiary company accdb/mdb file. You can maintain up to 12 different currencies in a currency table It is necessary to keep overseas subsidiaries in their own separate accdb/mdb file in their local currency. You need to ensure the COA in the subsidiary is a duplicate (or subset) of the main COA. This can be enforced by restricting user access to the subsidiary database. This routine is then used to bring in the sterling equivalents. P&L and Balance Sheet data can be brought in at different rates eg if using average rate for P&L and closing rate for balance sheet. Select the overseas company database to import from, from the dropdown. You also need to specify the Company(eg 001FCT) into which you are translating the NL data and which currency to use. Check rates are up to date for that currency and if not update them in main table. The program looks for a matching Company in the other database. The Import routine brings in current period actuals translated at the current month rate and future periods translated at the Future month’s rate.
Using the Other fields dropdown under menu item Administration-COA you can highlight certain accounts as Non Monetary. These amounts will not be translated on import eg Share capital and pre acquisition reserves. Any fx differences arising on consolidation will need to be eliminated using a custom spreadsheet.
The FX import routine can also be used with the home currency to merely import data from another database in the same currency(eg an older backup or different version