E1: 11: Overview of Balance Restatement Method (R11414A) (Doc ID 664911.1)

Last updated on APRIL 04, 2024

Applies to:

JD Edwards EnterpriseOne General Ledger - Version XE and later
Information in this document applies to any platform.

Purpose

Overview

If the organization has companies operating in more than one country, you might have to consolidate financial reporting among the different companies. The Balance Restatement method restates balances into a single currency for consolidated reporting purposes. For example, by restating U.S. dollars to Canadian dollars, you can consolidate reporting with other Canadian companies.

You can use detailed currency restatement or the balance restatement to restate amounts into one currency. For balance restatement, the system restates the amounts based on Account Balance (F0902) table in the consolidation ledger (AC) or other user-specified ledger type at the balance level, thereby creating fewer records, whereas the Detailed Currency Restatement creates the restated amounts based on the F0911 transactions.

You might use balance restatement to:

Restate balance sheet accounts at the period-end rate and income statement accounts at an average rate prior to generating consolidated financial reports. For example, you can restate subsidiary company accounts into the parent company currency for consolidated reporting.
Combine amounts from up to three different ledgers into one ledger. For example, you can restate the AA (actual amounts) and GP (GAAP adjustments) ledgers into the AC (consolidation) ledger.
Restate accounts for what if budget analysis. For example, you can specify a budget rate that is different from that used in the accounting books for internal comparison purposes.

This method of currency restatement restates balances into a single currency for consolidated reporting purposes.