6 months contract

We are a US based company with entities throughout the world. We have been using BCS for our consolidation previously and as part of that, our entities have been feeding local currency balances into BCS and then the translation to our group currency, USD, was done there. We would like to move the translation process out of BCS and complete it directly in R3. We have requirements to translate according to a variety of different exchanges depending on what the account is. So, for example,

Most Balance sheet accounts will translate at the month end rate,

Some asset accounts need to be translated based on the type of movement

movements within the period for PPE and Depreciation need to translate at the monthly average

opening balances get translated at prior year end rate

closing balance gets converted at current month end rate

Some P&L accounts need to be translated at the monthly average for the month also because certain expenses we only post once per month

Furthermore our requirement is that this translation needs to post back to the valuated account versus to the CTA account.
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