Hi all,

I have a question regarding foreign currency, and am trying to see how
other companies are handling this issue.

Per our accounting dept, translation of Stockholders' equity and Intercompany
accounts are to be translated at historical rate(s).
I believe this means we are to use rate(s) in effect at the time of the
transactions to translate into another currency.

However, when the system translates these accounts, there's no way but
to use a single rate for the month, which gets applied to year-to-date
balance. Other balance sheet accounts need to be translated at year-end rate, which works fine in this case. How can we translate SE and Intercompany balances using historical rate(s)?

Or perhaps my interpretation of what is required is wrong.
Or is there something in the system that can handle translating balances
at actual rates in effect at the time of transactions?

Thanks in advance!