RE: [SYS21] FAS52 Foreign Currency Question

[Steve Dodkins <Steve.Dodkins@xxxxxxxxxxxxxxx>]

But this is a Profit and Loss item why would you post it to the balance
sheet?

-----Original Message-----
From: charles.sutlief@deltaapparel.com
[mailto:charles.sutlief@deltaapparel.com]
Sent: 02 October 2002 11:22
To: jbausers-l@midrange.com
Subject: [SYS21] FAS52 Foreign Currency Question


Per SFAS 52, foreign currency translation gain/loss is recorded as Other
Comprehensive Income, which is a balance sheet account within equity.  In
GEAC,
you tell the system what account you want the foreign currency gain/loss
posted.
 However, the issue is that GEAC only allows you to post the gain/loss to an
income statement account, not a balance sheet account.

Does anyone have a workaround without programming?

Seems to be just an edit check in the program not allowing posting to a
balance
sheet account.  Has anyone removed the edit check in the program to allow
posting to a balance sheet account, and were there any other problems later.

Thanks.

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