The major differences in the General Ledger are in the on screen balances display and the G.L. Trial Balance Report.

As an example, the G.L. Trial Balance Report output below is for the Creditors Control Account for three branches AU, FJ and NZ. The report has been output in Branch Currency which means the AU Branch amounts are in AUD, the FJ Branch amounts are in FJD and the NZ Branch amounts are in NZD.

G.L. Trial Balance – Branch Currency Output

Using the FJ Branch as an example, the balances can be viewed on screen in the G.L. application, and radio buttons control the currency.

G.L. Balances Screen – Base Currency Balance

On entry to the G.L. Balances Screen, the default view is Base Currency – in this case AUD. The amount showing is the sum of transactions in all currencies, expressed in Base Currency. The Radio Buttons above the balances do not become active until a currency other than base is selected. To view other currencies - e.g., U.S. Dollars in Base Currency, leave the "Balances In" radio button on Base Currency and highlight U.S. Dollars in the Currencies column.

The Local Currency radio button will show the balance of transactions that have been made in the highlighted currency. In the above screen-shot, this is N.Z. Dollars.

G.L. Balances Screen – Local Currency Balance

G.L. Balances Screen – Branch Currency Balance

The Branch Currency radio button shows the value of transactions made in the highlighted currency, in Branch Currency.

This figure equates to the value in G.L. Trial Balance Report for the FJ Branch, G.L. Account FJ AD 060000, NZD Currency Transactions.

Foreign Exchange Transactions

Foreign Exchange Variations are now able to be handled on a Branch Currency basis, rather than just converted to Base Currency. This means that FX Variations will accurately reflect balances in Branch Currency.

FX Processing will always convert Transaction Currency back to Base Currency, but the option exists to convert from Transaction Currency back to Branch Currency.

Forex Processing Screen

The Forex Processing selections have been expanded to allow a selection by Branch and also to select a currency that the transaction currency is to convert to. In the screen-shot above, the available currencies to process are AUD, FJD and NZD. Base Currency (AUD in this example) is always processed.

One major benefit of these changes is that the system will create an FX variation line for each Branch, for each currency that the Branch has transactions for.

The FX G.L. Accounts will show the variations as per the G.L. screen shots below and on page 10.

NZ Branch FX Account – Base (AUD) Currency

NZ Branch FX Account – Branch (NZD) Currency