Trial Balance with Currency Analysis for Dynamics 365 Business Central

What is a Trial Balance with Currency Analysis?

A Trial Balance with Currency Analysis is a valuable tool used at the end of each month by Group Controllers to assess subsidiary balances both before and after currency conversion. This type of report allows for a comprehensive view of local (functional) and reporting currency amounts, presented side by side. Additionally, the report highlights any currency translation adjustments (CTA) resulting from variances between month-end average and month-end closing exchange rates. Below, you will find an example of a Trial Balance with Currency Analysis report.

Purpose of Trial Balance Currency Reports

Trial Balance Currency Reports serve the purpose of assisting companies and organizations in facilitating the review of subsidiary trial balance data reported in foreign currencies by their accounting staff. When incorporated as a part of effective business practices within the Finance & Accounting Department, these reports contribute to enhancing the month-end consolidation process, while minimizing the risk of identifying errors or exchange rate-related issues in data obtained from foreign subsidiaries.

Benefits to Users

The utilization of Trial Balance Currency Reports with currency analysis brings numerous benefits to business users, enabling them to make informed decisions and enhance their efficiency in performing their job responsibilities. By providing a clear overview of subsidiary balances in different currencies, these reports empower users to gain a comprehensive understanding of the financial status of their foreign operations. With the ability to compare local and reporting currency amounts side by side, users can easily identify any significant variations and take appropriate actions accordingly. Moreover, the inclusion of currency translation adjustments (CTA) assists users in comprehending the impact of exchange rate fluctuations on their financial data.

Trial Balance Currency Report Example

Here is an example of a Trial Balance Currency Analysis report.

Trial Balance with Currency Analysis for Dynamics 365 Business Central

Trial Balance with Currency Analysis from Solver

You can find hundreds of additional examples here.

Who Uses This Type of Trial Balance Report?

The typical users of this type of trial balance report are: Controllers and Accountants.

Other Trial Balance Reports Often Used in Conjunction with Trial Balance Currency Reports

Progressive Finance & Accounting Departments sometimes use several different Trial Balance Currency Reports, along with profit & loss, balance sheet reports and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

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