Create Currency Adjustment Journals

Applies toFinancial Consolidation

AudienceAll users

Last updatedOctober 27, 2025

Note: This step is required only if you have subsidiaries using a base currency that is different from the parent’s base currency.

Create Consolidation Period Exchange Rate

Navigate to the Consolidation Period End Closing page, create a Consolidation Period Exchange Rate record, and enter the Average, History, and Current Rate:

• For example, if USD is the parent’s base currency, and CAD is the subsidiary’s base currency.

• Rate is used to convert CAD to USD using this format: 1 USD = Rate * CAD

Create Curency Adjustments

Click the Create Currency Adjustments button.

GoldFinch will perform currency translation steps for each subsidiary GL Ledger that requires conversion:

1. Copy the current period’s GL Summary records from the subsidiary’s GL Ledger to the converted GL Ledger.

2. Calculate GL Balances for all Balance Sheet accounts for the subsidiary’s GL Ledger and convert them to the parent’s base currency using the Consolidate Rate Type set up on the GL Account.

3. Calculate current month changes for all Income Statement Accounts for the subsidiary’s GL Ledger, and convert them to the parent’s base currency using the Consolidate Rate Type set up on the GL Account.

4. Calculate currency adjustments for the converted GL Ledger and post to the GL Summary table.

5. The difference due to currency translations is posted to the Cumulative Translation Adjust Account set up on the Company Setup.

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Article Create-Currency-Adjustment-Journals  ·  Last updated October 27, 2025 · GoldFinch ERP Help Center