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Forums Financial Management Lawson S3 Financials

US Deposits in foreign country

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Greg Wiklund
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10/14/2010 12:53 PM
We have operations in a foreign country and have a bank account where we are storing USD. When I run my RW100's to consolidate, I want that dollar amount to appear; not a converted amount. Any time I want that money back, $20,000, I will get the $20,000 back, not a converted amount, so it should be on my books as $20,000, regardless of the base currency in that other country/company. Does anyone else conduct their operations this way?
Deleted User
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10/14/2010 6:31 PM
There are three types of currencies available in Rw100.
One is account currency. You can set the account in GL00 to this account currency. Then, as you transact in dollars a total amount will be tracked in dollars.
Report currency is derived off of base currency. So, when you transact in dollars,but it should also keep the report currency if that's set to the same amount of dollar if all the rates are set correctly. It's important then that you turn off translation so it doesn't rethink values.
I hope this helps because it does get complicated.