About translations

To use the translation functionality in Visma Net, you need to configure an appropriate translation definition (or multiple definitions) that defines the source and destination currencies, the source and destination ledgers, the branch and involved General ledger accounts used for the translation.
By using the Translation definition (CM203000) window, you can define as many translation definitions as needed, each having a unique ID.
If one translation type is run more often than others, you can set it as the default translation in the Default translation ID field in the Currency management preferences (CM101000) window.

You can create a translation for a particular financial period by using the Prepare translation (CM501000) window.
The result of this translation preparation is a translation worksheet that may be manually edited in the Translation worksheets (CM304000) window.

For a defined type, subsequent translations for the same financial period are incremental: The current translation adjusts the result of the previous released translation to match the current one. When the translation is released, an appropriate batch of adjusting transactions is created.

On release of the translation, the system automatically generates a translation batch that contains a journal entry for each account–subaccount pair involved in the translation.
The translated amounts are posted to the destination ledger under the appropriate account and subaccount.

Since translation uses different exchange rates for different types of accounts, there will be a difference between total of the assets and total of the liabilities.
This difference will be posted to the Translation gain account and Translation loss account specified for the reporting currency in the Currencies (CM202000) window.
The similar accounts for the base currency are specified in the Currency management preferences (CM101000) window.

The gain or loss of each subsequent translation is calculated with respect to the previous translation performed for the same period.