We are currently in our Year End Close - 2010.
We keep getting a balance in our rounding a/c for P&L.
Basically we have our P&L accounts translating at the average rate and our Intercompany Income (transfer pricing related), translating at the spot rate. Net, net the sum of all these accounts should be zero since the system posts the difference to a net revenue/loss acount as well.
i.e the sum of all P&L should be zero (including the Retained Earnings account), but we have a large balance in this account.
Does anyone have any expertise with ECCS- currency translation (CXD1) that might enable us to understand why there is a balance in the rounding account?
Thanks in advance,