what is the main difference between the MRC and Revaluation?
can any one tell me.
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Answer Posted / osama bin laden
Multi Reporting Currency:it reports at the transactional
level,primary to reporting set of books at application\set
of books level.
Prerequisits for mrc:set of books should have to fallow
same accounting flexifield structures with different
currency.Mrc runs the transation for the fixed date from
primary to reporting.
Translation:Translation restates the ledger balances of
functional to the desired foriegn currenct and this happens
at balance level
Revalaution is revalaueing foreign currency amounts as per
current exchange rate.
In MRC the source transacation is in Functional currency .
In Revaluation the source transaction is in Foreign
currency.
For MRC we need 2 Set of Books Primary and Reporting
Revaluation can be in the same SOB where transaction
resides.
In MRC all transactions( Assets, Liabilities, Exp....)ir
respective of their type they get converted.
Revaluation is performed only on Assets and Liabilities.
MRC has to be set once and the transactions keep flowing
Revalaution has to be initiated by user.
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