How to Set Up Multi-Currency Books in Asset Management
(Doc ID 662693.1)
Last updated on JULY 09, 2018
Applies to:PeopleSoft Enterprise FIN Asset Management - Version 8.8 to 9.1 [Release 8.8 to 9]
Information in this document applies to any platform.
This document was previously published as Customer Connection Solution 201071014
***Checked for relevance on 05-FEB-2014***
***Checked for relevance on 16-JUL-2015***
***Checked for relevance on 10-JAN-2017***
Consider the following scenario:
The company trying to set up multi-currency books is a USD based company. If it buys a building for 1 million EUROs, will the cost be translated to USD in PeopleSoft? GAAP rules indicate that the balance sheet should be translated based on a current rate/year-end rate and the income statement should be translated using a weighted average rate (SFAS 52).
How does the Asset Management module handle the two different currencies?
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