When you go to Process Multi Currency in PS 8.4, there are two components, Translate and Tanslate Within Ledger. All of the pages in both ledgers are the same, so what is the difference in functionality between them?
Translate and Translate Within Ledger are two different methods used for the translation of currencies. In the Translate method we translate into currencies by specifying a seperate ledger group, whereas in Translate Within Ledger, translation is done in the same ledger group and no seperate ledger group is maintained for the translation.
Translate Within Ledger Group will perform the translation at the detail level, and Translation to another ledger group will translate at a summary level. This is an important consideration for reporting purposes. Also, there are some situations, depending on base vs. functional currency of a BU, where translating within the ledger group will not be compliant with FAS52. Translate Within Ledger Group translates from the primary ledger to your consolidation ledger, whereas in translating to another ledger group, you can choose any ledger within your primary group as your source.
*Questions excerpted from ITToolBox.com*
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