Get an insight into various reports that are crucial for validating and ensuring the correctness of the conversions.
Validation – Movement
The Validation – Movement report can be used to validate foreign currency conversions. If the continuity report in the local currency doesn't balance, you may have issues when reviewing financial statements in the reporting currency.
The same report can be used to view data in the reporting currency. This report will validate whether the continuity details balance in the reporting currency and will provide transparency into the CTA Open and CTA Flow amounts, which are key to ensuring a correct Closing member.
Validation – Opening Period
The Validation – Opening Period report is another key report for validating foreign currency conversions. If the Opening movement member for the current year does match P12 of the prior year, it'll show the conversion issues.
Validations – Validation Rules
The report is important for making sure financial data is correct and true when changing currencies. This report checks various validation rules to confirm that all financial entries are consistent and correctly converted.
The Check column indicates whether each validation rule passed or failed.
- Green: Validation passed.
- Red circle with cross: Validation failed.
Amounts marked in pink/red highlight discrepancies needing attention.
