Trial Balance with Currency Analysis for Sage Intacct

What is a Trial Balance with Currency Analysis?

A Trial Balance with Currency Analysis is an essential tool utilized by Group Controllers at the end of each month to evaluate subsidiary balances both before and after currency conversion. This report provides a comprehensive comparison of local (functional) and reporting currency amounts, enabling a side-by-side analysis. Furthermore, it highlights any currency translation adjustments (CTA) resulting from variances between the average and closing exchange rates at the end of the month. Below is 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 reviewing subsidiary trial balance data reported in foreign currencies by their accounting staff. By incorporating these reports into the Finance & Accounting Department’s effective business practices, they contribute to streamlining the month-end consolidation process while reducing the risk of identifying errors or exchange rate-related issues in data obtained from foreign subsidiaries.

Benefits to Users

Utilizing Trial Balance Currency Reports with currency analysis brings numerous advantages to business users, enabling them to make informed decisions and enhance their job efficiency. These reports provide a clear overview of subsidiary balances in different currencies, empowering users to gain a comprehensive understanding of the financial status of their foreign operations. By comparing local and reporting currency amounts side by side, users can easily identify significant variations and take appropriate actions. Additionally, the inclusion of currency translation adjustments (CTA) helps users comprehend 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 Sage Intacct

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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