Currency Translation

Information contained on the Account/Center Master File (currency rate code) and on the Reference File (P03-Translation Table) controls the translation of Account/Center Master File actual and budget amounts from the base currency into the target foreign currency.

The currency translation rate code on each Account/Center Master record identifies the translation rates on the Currency Master File.  The translation rates record contains the actual and budget translation rates associated with the target currency.  These rates are used to translate the account from the base currency into the target currency.

The target currency (category P03) record on the Reference File specifies the foreign currency into which the bookkeeping Account/Center Master File will be translated.