Currency Revaluation Utility
Use the Currency Revaluation Utility to generate realized
or unrealized currency gains and losses (due to currency rate changes)
for these accounts:
- open payable
- vouchers payable
- receivable
NOTE: This utility
should be run prior to creating financial statements.
You can run this utility with or without posting to
the respective A/P, PO, or A/R distribution journals. When generating
realized gains and losses, the utility includes gain/loss amounts previously
posted to the A/P and A/R journals.
Posting realized gains and losses rewrites historical
rates in the open transactions. Posting unrealized gains and losses creates
the journal entries as reversing entries.
The results grid for the Currency Revaluation Utility
includes the following information:
- Customer number and name
- Invoice number
- Vendor number and name
- Currency
- PO
- Invoice/Voucher number
- Detail Description
- Exchange Rate
- Foreign Total Amount -
The Foreign Total Amount is the foreign currency transaction amount.
The Old Amount is the domestic currency amount converted from the Foreign
Total Amount using the old exchange rate (the exchange rate on the transaction
prior to revaluing).
The New Amount is the domestic currency amount converted from the Foreign
Total Amount using the revalued exchange rate.
The Cost of Revaluation is the gain or loss amount associated with that
particular transaction.
The Gain or Loss Amount is the currency gain/loss amount generated for
the particular invoice or voucher (total of all associated "Cost
of Revaluation" amounts for that invoice or voucher).
- Account number
- Account Unit 1-4 reporting units
- Domestic Total Amount Debit 1-2
- Domestic Total Amount Credit 1-2
- Net Loss
- Net Gain
- Variance Account number
- Variance Account 1-4
- Description - This field is in
the grid twice. One is the description of the Account number. The
other is the description of Variance Account number.
Related Topics
Using
Utilities and Activities
About
Realized and Unrealized Gains and Losses