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Former Member
Oct 27, 2010 at 08:49 PM

GL Master - Only Balances in Local Currency

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I am curious when to check the 'Only Balances in Local Currency' (OBILC) box on a Open Item GL. I've read information from multiple sources and interpret that it should be set on all OI accounts with a few exceptions like recon accounts for vendors and customers. In my past experience OBILC was checked for most open item accounts but the company I'm currently with has the opposite logic. With the box not checked, the clearing is process is quite complex and time-consuming. We are on the classic ledger in 6.0 and have companies in multiple local currencies with group currency of USD. Just looking for input because I'm doubting my interpretation of when to check this box.

As an example, the GL would be an AP accrual account with postings in multiple doc currencies. The company code local currency is MXN, and Group Currency is USD. Should the OBILC be checked?

Any input is appreciated.