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Complex search for the error of a reconversion of a USD general ledger into euro. Need Excel knowhow-filters and Pivot. For experienced finance/accounting person.
Only a holding company, short general ledger. I provide all postings and currency rates.
Executive summary: We provide all postings for an entity of one year. This is a European entity, which had been recorded in USD. We want to produce the Euro financial statements. So all entries have to be converted back to Euro and the conversion gains/losses have to be eliminated. We provide for all postings the Euro currency rate. Solution one: all P/L entries are converted to Euro with the fx rate of that specific day. Then with Excel Pivot function you can get the ending balances per account. The balance sheet accounts : take the ending balances in USD and reconvert them to EURO on the basis of the FX at the end of the year. If the fx gain/loss accounts of the P/L are simply ignored, then the whole general ledger in Euro is zero....
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