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Difference between the realized gains and losses accounts and the cross currency rounding account

Posted on July 16th, 2012 by Sanjit Anand ||Email This Post Email This Post

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The realized gains and realized losses accounts are used to account for the conversion rate gain or loss in the ledger currency resulting from a cross currency receipt application. For example, if the conversion rate for a foreign currency invoice is 1.7 and the conversion rate of the payment for this invoice is 2.0, Oracle EBS/Fusion posts the difference as a gain to the realized gains account.

The cross currency rounding account is used to record rounding error amounts created during a cross currency receipt application for currencies that have a fixed rate relationship. You must define a rounding error account if you create cross currency receipts.

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