CaseWare India FAQ

How do I report the translated trial balance of a foreign currency entity in a consolidated file?

If a trial balance for an entity that you are consolidating is in a foreign currency, to report on the converted values, do the following:

  1. In the individual file for the applicable entity, open the Working Trial Balance and create and map (2.9.0.810.100.000.000.000.00000.000) a new Foreign Exchange Gain / Loss account.

  2. Click on the Foreign Currency tab and enter the exchange rate for the first account. If it is appropriate to apply the same rate to all accounts, copy the first rate, highlight the entire column and paste.  

  3. Click on the Settings button in the Working Trial Balance. For the ‘Foreign Exchange’ field, select the Foreign exchange gain/loss account.

  4. When linking to the entity into the Consolidation File (under Engagement | Consolidate > New), tick Apply Foreign Currency. This will convert the trial balance at the elected exchange rate. 
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