Owns the trial balance, the close and the consolidated statements. Approves what the GL Accountant, the Treasury Analyst and the clerks prepare: manual journals, revaluations, reconciliations, bills and credit memos above the clerk limit, pay runs above the clerk limit, and the period close itself.
Currencies and rates
Keep the source, purpose and approval behind every exchange rate, from document posting to group reporting.
EffectiveDate = today
| From Currency | To Currency | Rate Type | Effective Date | Rate | Source |
|---|---|---|---|---|---|
| CRR-4856 | CRR-4510 | Spot | 11 Sep | 390 | ECB |
| CRR-6695 | CRR-7506 | Average | 24 Sep | 90 | OANDA |
| CRR-8456 | CRR-6781 | Closing | 05 Sep | 40 | CentralBank |
| CRR-2603 | CRR-8182 | Budget | 27 Sep | 580 | Manual |
| CRR-6577 | CRR-3567 | Spot | 22 Sep | 40 | Integration |
| CRR-1003 | CRR-4211 | Average | 07 Sep | 360 | ECB |
Currencies and conversion
Currencies defines each currency’s code, display and decimal precision. Rounding follows the configured transaction and functional-currency rules. Differences go to the designated accounts; tax conversion differences follow the reviewed tax configuration.
A rate states how many units of the to-currency equal one unit of the from-currency. Direct and derived cross rates retain their source and calculation. A document-currency amount, receipt-currency amount and functional value are separate quantities. A cross-currency settlement stores the conversion between document and cash currencies as well as its functional carrying amounts.
Active = true
| Bank Account Number | Name | Entity | Currency | Account Type |
|---|---|---|---|---|
| BA-29568 | Account 567 | ENT-3707 | CRR-4213 | Operating |
| BA-40494 | Account 369 | ENT-6844 | CRR-4576 | Collections |
| BA-45094 | Account 938 | ENT-9400 | CRR-7455 | Payroll |
| BA-51634 | Account 791 | ENT-7042 | CRR-6053 | Savings |
| BA-14378 | Account 667 | ENT-6858 | CRR-5796 | Lockbox |
| BA-65957 | Account 111 | ENT-3363 | CRR-6188 | Operating |
Rate types
The accounting policy determines where each type applies. Configuring these records does not itself establish that a group’s reporting treatment or jurisdiction-specific tax rule is correct.
| Rate type | Purpose | Review basis |
|---|---|---|
| Spot | Routine document and cash conversion | Approved source and applicable date |
| Closing | Period-end monetary revaluation and configured balance-sheet translation | Period's closing rate date |
| Average | Configured income-statement translation | Reporting period and calculation method |
| Budget | Group budget translation | Approved budget version and rate date |
| Historical | Equity, investment and other supported historical balances | Entity, account, originating amount and date |
| Contract | Documents covered by an agreed fixed rate | Contract evidence and permitted scope |
Rate feeds and missing rates
Treasury Analyst configures the approved feed or import with Admin and reviews Today’s Rates. RateExceptions identifies missing pairs, dates or rate types and the affected source. Draft work can be prepared while the exception is reviewed, but an absent rate must not become an unrecorded fallback at posting.
Any permitted substitute needs its source, reason and required approval recorded. Resolution refreshes the affected calculation and decision evidence. Loading a new daily rate does not silently rewrite a posted invoice, an approved settlement or a closed run. Failed imports and stale rates remain operational exceptions to resolve.
Overrides and used-rate history
RateOverrides retains the proposed and replacement rates, source document, reason, requester and approval. Treasury Analyst proposes permitted document-rate changes; Controller authorises closing-rate overrides and other changes requiring approval. Clerks can inspect the rate applied without gaining permission to change it.
A rate override is part of the calculation’s revision. If it changes the amount being approved, the old decision cannot authorise the new amount. Posted revaluation and locked consolidation retain their used-rate versions. Corrections follow a linked reversal or replacement run, preserving the earlier evidence.
Tax and authority currency
An authority may require a different conversion basis from the accounting document. Tax lines retain the accounting-rate functional value used in the GL and the separate authority reporting value and conversion difference. A prescribed reporting rate does not silently change the document journal. The filing states its reporting currency and conversion. Tax Specialist reviews the configured rule and source; filing after period close does not reopen that period for posting.
Approval limits across currencies
ApprovalDecisions converts the source amount into the authorised person’s limit currency and freezes the amount, rate, limit and source revision used. Comparing a functional-currency total directly with a limit in another currency is refused unless a documented conversion makes them comparable.
ApprovalDelegations records the authorised person, delegate, scope and effective dates. The actual actor remains visible. A valid limit or delegation never permits the preparer to approve their own bill, payment run or another action that requires separation.
Modules
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General ledger
Keep transaction amounts, functional values and approval evidence together across journals, close adjustments and group reporting.
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Currencies and rates
Keep the source, purpose and approval behind every exchange rate, from document posting to group reporting.
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Revaluation
Restate foreign-currency balances with clear sign conventions, item-level carrying values and independent approval.
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Receivables
Keep customer balances, cash received and exchange differences clear across invoicing, collection and settlement.
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Payables
Review supplier bills and payment authority, then reconcile cash, withholding and exchange differences without losing the original evidence.
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Banking
Reconcile each bank account in its own currency, recognise unmatched cash and retain the evidence behind transfers and payment outcomes.
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Intercompany and consolidation
Agree cross-entity activity, preserve each company’s books and review translation and eliminations in the group reporting currency.
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Period close
Coordinate close dependencies, review supporting workings and keep reporting periods separate from later postings.
Roles and permissions
Prepares manual journals, accruals and prepayments, bank reconciliations and the entity close tasks the Controller approves.
Owns currencies, exchange rates, bank accounts, transfers between currency accounts and the month-end revaluation. Prepares what the Controller approves.
Processes vendor bills in the vendor's currency, checks them against the order and receipt references, and builds pay runs.
Raises customer invoices and credit memos in the customer's currency, applies cash at the receipt rate and runs dunning.
Loads and maintains budget versions in entity currency, runs allocations and reads variance in reporting currency.
Owns tax codes, jurisdictions, filings and the tax accrual.
External or internal auditor. Read-only across the platform with access to the closing binder, revaluation workings and the audit trail.
Related processes
Multi-currency period close
Approve reconciliations, revalue supported balances, review the close and consolidate each entity into the group reporting currency.
6 stages · 3 approvals
Invoice to cash in a foreign currency
Invoice customers in their currency, record cash when it arrives, and reconcile each application with the amount owed and its current carrying value.
6 stages · 2 approvals
Bill to payment
Review supplier bills, approve spending within recorded authority, and track payments, currency differences and rejected-bank attempts through to reconciliation.
6 stages · 2 approvals