Initial Balance Entry in Multiple Currencies
Create currency-tagged splits in Standard Sheets to enter multiple currencies in the initial balance column for a single account. This allows you to specify an account's initial balance in each currency at its true valuation without having to calculate an inferred exchange rate.
For example, your instance has three levels that track Retained Earnings and each level has a different currency. You enter the initial amount for each currency into a split in the initial balance column. The values thereafter calculate per level and convert automatically to the level's currency.
To set this up, add currency as a dimension when building a standard sheet. Then, when entering data, split the account and choose currency from the dropdown. Enter different currency values associated with each currency in each split.
Submit Workflow for Actuals
Use Workflow to submit, approve, and reset workflow by levels and sheets for your actuals version. After loading data, entering exchange rates, and posting all journal entries in your actuals version, you can submit actuals levels for review and approval.
Before you get started, enable Workflow for your actuals version.