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:

  1. Open the Balance Versions window and create a new record.
  2. Enter an ID for the balance version in the Balance Version field and a description in the Description field.
  3. Select a value for the Actual/Budget field to specify whether the balance version should be used to transfer actual balances or budget balances.
  4. Enter the required values in the Average Rate Type and Closing 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.
  5. Save the information.

To define an alternative balance version:

  1. Open the Balance Versions window and create a new record.
  2. Enter an ID for the alternative balance version in the Balance Version field and a description in the Description field.
  3. Select the Alternative Balance Version check box.
  4. 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.
  5. Select a value for Balance Version Type field. The value from the connected master balance version is default.
  6. Enter the required values in the Average Rate Type and Closing 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.
  7. Save the information.