ANTE User Manual

Accounting Settings

Accounting Settings is the one place where you tell the accounting books which currency they are kept in, when your financial year starts, and which currency group reports are translated into. Every accounting report reads these three choices, so set them before you post or report anything. You reach it at Treasury → Configuration → Accounting Settings. The screen has two cards: Entity and Reporting currency.

Entity Settings

The Entity card holds the currency your books are kept in and the month your fiscal year begins. These values belong to your company record, so changing them here changes them everywhere the company is used.

Functional currencydropdown
The currency your books are kept in. Every journal line is stored in this currency, and reports show amounts in it unless you apply a reporting currency. Pick from the list of supported currencies.
Fiscal year startdropdown
The month your financial year begins. Choose Calendar year (January) or a month from Jan to Dec. Year-to-date figures, period selectors and year-end reports use this month as the start of the year.
  1. Choose the values

    Pick the functional currency and the fiscal year start month.

  2. Save

    Click Save in the Entity card. If nothing differs from what is stored, the screen says "No changes to save".

Allow a few minutes

Changes reach accounting reports within about 10 minutes, because reports are cached. Changing the functional currency also refreshes your session.

Reporting Currency

The reporting currency is the currency your statements are translated into for group reporting (IAS 21). It is different from the functional currency: the functional currency is how the books are kept, while the reporting currency is only how a translated report is presented. The default is USD.

Apply todropdown
Group default (all entities) sets one reporting currency for every entity in the group. This entity only sets an override for your company alone.
Reporting currencydropdown
The currency reports are translated into when you apply a reporting currency.

Once a value exists, the card shows a line "Currently resolving to" followed by the currency and where it came from: (entity override), (group default) or (module default). An entity override wins over the group default, which wins over the module default.

Tip

Translation uses the period rates on Foreign Exchange Rates. Check that closing and average rates exist for your reporting currency before you apply it to a report.

How It Connects

Feeds into

  • Foreign Exchange Rates — the period rates used when a report is translated into the reporting currency.
  • Balance Sheet — reads the functional currency and fiscal year, and can be translated into the reporting currency.
  • Income Statement — uses the fiscal year start for year-to-date figures and can be translated into the reporting currency.
  • FX Revaluation — revalues foreign-currency balances into the functional currency set here.
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