Euro booking currency conversion method

A method for use on a general purpose computer for converting an ongoing old corp production ledger processing in a participating currency to an ongoing production ledger processing in euros, said old corp production ledger comprising an old master file including a plurality of old master file records, each old master file record comprising a key identifying the record, data fields and amount fields, said method comprising the steps of:

• a. selecting a particular time period,
• b. creating a euro master file that is substantially identical to the old currency master file, by creating a euro master file containing at least one euro corp record corresponding to each old currency master file corp record within the old currency master file except that the euro corp records within the euro master file hold zero balances and all participating transaction currency records and their book one equivalents within one old master file key are replaced by a single target transaction currency record and its book one equivalent,
• c. converting the amounts of all transaction currency records and their book one equivalents for the selected time period into their corresponding euro equivalent amounts,
• d. rounding said euro equivalent amounts, wherein the step of rounding the euro equivalent amounts comprises the steps of:
• i. creating second dimensional rounding entries for year-to-date balances through each accounting period within each target currency transaction currency records and book one equivalents within said euro master file, and
• ii. creating a euro master file maintenance audit trail report, and
• e. populating the euro master file corp records within the euro master file with the corresponding rounded euro currency equivalent amounts.

A general purpose computer programmed for automatically correcting intra record accumulation of rounding errors occurring during the conversion of a booking ledger from a participating currency to a target currency, the general purpose computer comprising:

• a. means for creating second dimensional rounding entries for year-to-date balances through each accounting period within each target currency transaction currency records and its book one equivalent within a target master file,
• b. means for creating a master file maintenance audit trail report,
• c. means for providing transaction currency records and their book one equivalents in old currency corps;
• d. means for determining said old currency corp's currency code,
• e. means for determining a target currency conversion rate corresponding to said old currency corp's currency,
• f. means for determining said old currency corp's corresponding converted target currency corp equivalent,
• g. means for determining the next master file record, its corresponding master file key and its corresponding currency code,
• h. means for storing said next master file key and its corresponding currency code,
• i. means for determining whether said converted target currency corp equivalent is a participating currency corp book one equivalent,
• j. a first means for determining the sum of period 01 through each accounting and adjustment period,
• k. means for determining the difference between each accounting period's old currency corp accumulated participating year-to-date balance and the corresponding target currency corp year-to-date balance,
• l. means for creating a first master file maintenance transaction,
• m. means for populating said first master file maintenance transaction for each accounting period with a target currency corp name, its corresponding master file key and the target currency as the currency code,
• n. means for comparing the target currency corp records with its corresponding old currency corp master file key and its corresponding currency code,
• o. means for determining the year-to-date balances for each period in the target currency corp through each accounting and adjustment period,
• p. means for determining the difference between each accounting period's old currency corp year-to-date balance converted to the target currency and the corresponding target currency corp year-to-date balance,
• q. means for creating a second master file maintenance transaction,
• r. means for populating said second master file maintenance transaction for each accounting period with a target currency corp name, its corresponding master file key and its corresponding currency code,
• s. means for determining whether more records exists in the current master file key,
• t. means for determining whether any participating currency book one equivalents exist within the current master file key,
• u. means for determining whether more master file keys exist within the current corp record,
• v. means for providing the corresponding target currency records,
• w. means for applying the old currency corp's master file key,
• x. means for using the target currency book one equivalent as the currency code,
• y. means for determining the year-to-date balance for each period in the target currency corp through each accounting and adjustment period, and
• z. means for determining the existence of any corp records not converted into the target currency.

A general purpose computer programmed for automatically correcting intra ledger accumulation of rounding errors occurring during the conversion of a booking ledger from a participating currency to a target currency, the general purpose computer comprising:

• a. means for creating third dimensional rounding entries for year-to-date balances through each accounting period within each target currency transaction currency record and its book one equivalent within a target master file,
• b. means for providing transaction currency records and their book one equivalents in old currency corps,
• c. means for distinguishing between euro book one currency corp's and old book one currency corps,
• d. means for determining said old book one currency corps currency code,
• e. means for determining a target currency conversion rate corresponding to said old currency corp's currency,
• f. means for determining said old currency corp's corresponding converted target currency corp equivalent,
• g. means for storing said next master file key and its corresponding currency code,
• h. means for determining the next book one record,
• i. means for distinguishing between balance sheet records and income statement records,
• j. means for distinguishing between an asset type record and a liability type record,
• k. means for distinguishing between an income type record and an expense type record,
• l. means for calculating the sum of balance sheet records for period 00 through each accounting and adjustment period,
• m. means for loading the sum of balance sheet records for period 00 through each accounting and adjustment period into the memory of the computer,
• n. means for calculating the quotient of balance sheet records for each accounting and adjustment period YTD divided by the amount of the book one rate,
• o. means for loading said quotient into the memory of the computer,
• p. means for calculating the sum of incomes statement records for period 01 through each accounting and adjustment period,
• q. means for loading said sum of income statement records into the memory of the computer,
• r. means for calculating the quotient of the income statement records for each accounting and adjustment period YTD divided by the amount of the book one rate,
• s. means for determining whether more book one records exist in said old corp,
• t. means for determining a participating net balance sheet, participating net income and a participating currency net corp balance, and
• u. means for determining a euro net balance sheet, a euro net income statement and a euro net corp balance sheet,
• v. means for determining euro master file net balance sheet, a euro master file net income statement, and a euro net corp balance.

A method for use with a computer for converting an ongoing old corp production ledger processing with a participating currency, to an ongoing production ledger processing with a target currency, said old corp production ledger comprising an old master file including a plurality of old master file records, each old master file record comprising a key identifying the record, data fields and amount fields, said method comprising the steps of:

• a. selecting a target currency,
• b. selecting a particular time period,
• c. providing a target currency master file that is substantially identical to the old currency master file,
• d. creating a target currency corp record corresponding to each old currency master file corp record within the old currency master file,
• c. populating the target currency corp records within the target master file with zero balances,
• f. replacing all participating transaction currency records and their book one equivalents within one old master file key with a single target transaction record and its book one equivalent,
• g. converting the amounts of all transaction currency records and their book one equivalents for the selected time period into their corresponding target currency equivalent amounts,
• h. rounding said target currency equivalent amounts wherein the step of rounding the target currency equivalent amounts comprises the steps of:
• i. creating second dimensional rounding entries for year-to-date balances through each accounting period within each target currency transaction currency records and book one equivalents within said target master file, and
• ii. creating a master file maintenance audit trail report, and
• i. populating the target currency corp records within the target master file with the corresponding rounded target currency equivalent amounts.