Trial Balance with Currency Analysis

    What is a Trial Balance with Currency Analysis ? Trial Balance Currency Reports are considered month end control tools and are used by Group Controllers to see subsidiary balances before and after currency conversion. Key functionality in this type of trial balance report will display local (functional) and reporting currency amounts side by side. The report also displays a currency translation adjustment (CTA) due to differences in month-end average vs. month-end closing exchange rates. You will find an example of this type of trial balance report below. Purpose of Trial Balance Currency Reports Companies and organizations use Trial Balance Currency Reports to make it easy for their accounting staff to review subsidiary trial balance data being reported in a foreign currency. When used as part of good business practices in a Finance & Accounting Department, a company can improve its month-end consolidation process, as well as, reduce the risk of finding errors or exchange rate issues in data reported from foreign subsidiaries. Trial Balance Currency Report Example Here is an example of a Trial Balance Currency Analysis report. [caption id="" align="alignnone" width="2560"] Trial Balance with Currency Analysis Example Trial Balance with Currency Analysis Example[/caption] You can find hundreds of additional examples here. Who Uses This Type of Trial Balance Report ? The typical users of this type of trial balance report are: Controllers and Accountants. Other Trial Balance Report s Often Used in Conjunction with Trial Balance Currency Reports Progressive Finance & Accounting Departments sometimes use several different Trial Balance Currency Reports, along with profit & loss, balance sheet reports and other management and control tools. Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Netsuite and others. In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions. What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
    • Native ERP report writers and query tools
    • Spreadsheets (for example Microsoft Excel)
    • Corporate Performance Management (CPM) tools (for example Solver)
    • Dashboards (for example Microsoft Power BI and Tableau)
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