Set up Made2Manage to use the monetary vs. non-monetary currency translation method

Made2Manage comes set up for the current vs. non-current foreign currency translation method. For this method, all general ledger accounts that are current assets or current liabilities revaluate at the current exchange rate at end-of-period. Revaluating means adjusting for anticipated but unrealized gains and losses to create more accurate financial reports.

You can set up Made2Manage to use the monetary vs. non-monetary translation method. If you use the monetary vs. non-monetary method, you must prevent non-monetary accounts from revaluating at end-of-period.

To prevent an account from revaluating

1. Open the Chart of Accounts Maintenance (GLMAST) page.

   a. Select Financial Management > Master Data > Chart of Accounts Maintenance.

   Or

   b. Search for GLMAST in the Navigation box and then select Chart of Accounts Maintenance.

   The Chart of Accounts Maintenance (GLMAST) page appears.

2. On the Toolbar, click Browse.

   The Browse For Chart of Accounts Maintenance window appears.

3. Select the row that contains the required account, and click Select. Or, double-click the row that contains the required account.

   Click Cancel to exit from the Browse For Chart of Accounts Maintenance window.

4. Clear the Revaluate At Current Factor checkbox.

   The Revaluate At Current Factor checkbox is only visible if the account is marked as a current asset or current liability. For more information.

5. On the Toolbar, click Save to keep the changes.

​