Once transfer of reporting entity balances is done, is it true that one cannot go back and change the Reporting Entity Reporting Currency Base? We initially started using the Accounting Currency as a base, but determined we wanted to use Parallel Currency instead. When I tried to make the change, the system gave an error that Reported Balances exist and the change could not be made. Is there a solution for this? This is in Apps 10 UPD 7.
Cannot change Reporting Currency Base for Consolidation Reporting Entities
+4
Hi,
As I have also experienced, you cannot change the base currency in the middle of the consolidations.
However there will be two alternative options I would like to bring your attention and I believe if you have been running the IFS group consolidation for some time, most suitable option would be option 2.
- try rolling back the previous consolidations and remove the transferred balances and change the ‘reporting currency base’
- Creating another master company for group consolidation and setting up the correct structure and basic data ( this would be a time consuming activity, but you don’t need to rollback the previous consolidations and you will have all your historical consolidations in old master company. It will be just that you are moving the consolidation from one set of configuration to another master company)
Hope this would give you some insights to solve your problem…
Thanks,
Thushan Wijayawickrama
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