GL Administrator Asset and Liability Revaluation Report overview

General Ledger > Administration > GLA Reports > GLAR

Function acronym: GLAR

Use this report to revalue active customer, vendor, and purchase transactions using the current currency exchange rate.

The report can be run in either update or non-update mode. If you run it in update mode, a GL journal is created and General Ledger is updated for the difference between the original or previous transaction value and the new value. You can choose to run this report to revalue only customer, vendor, and purchase transactions or include all transaction types.

When you run the report for vendor transactions, the Rebate Due is also revalued. The Rebate Due includes rebates to foreign vendors that are Invoiced, Printed, or Updated. These are received in the vendor's currency.

This report includes revalued PD Rebate Reconciliation EntryRevaluations affect received uninvoiced purchase orders, and outstanding receivables and payables that have impacted General Ledger, including any unmatched transactions. For example, you billed a customer on November 1st for ₤145 (exchange rate of 1.145%), and as of December 1st this bill is still outstanding. Between November 1st and December 1st, the exchange rate for USD to GBP (British Pound) was very volatile and is now at 1.75%. The customer still owes ₤145, but this is now only $82.85 USD. When you perform a revaluation on this invoice transaction, a loss is recorded to General Ledger for the difference, and the liability accurately reflects the domestic value owed to your company. rebate transaction(s). The amounts displayed are domestic.

When you run this report, a revaluation record is created and a GL transaction set posted for each currency exchange code you’ve chosen to revalue, whose rate has changed since the last revaluation. If this is the first revaluation, the current exchange rate is compared to the rate on the transaction. If multiple currency codes are selected when you run the revaluation report, a separate record is created for each currency and assigned a revaluation number. The revaluation number is stored with the receivables or payables transaction.

When transactions are revalued, an internal GLETV record is created. This record stores the revaluation sequence number, the old exchange rate, new exchange rate, operator, date, time, journal and set numbers. You can view GLETV transactions in GL Account Inquiry-Transactions, GL Journal Inquiry-RV, Customer Inquiry-Transactions, and Vendor Inquiry-Transactions.

You cannot run this report as an “As of” report. Revaluations are performed using the current currency rate and records transactions with the current date.

This table shows transaction revaluation actions:


Transactions	Revaluation action
Purchase orders	Purchase orders that have been received but not fully costed and do not exist on an unmatched transaction are updated with a recalculated GL Cost Received amount for each PO line based on the new exchange rate. Addon and discount amounts are stored in foreign values and are not revalued.
Vendor Invoices	Active, or open, invoices and their associated scheduled payment records are reviewed. If a value exists in the exchange rate field on the scheduled payment, it is updated with the new exchange rate and the revaluation number. The open invoices and scheduled payments are revalued and a GLETV record created with the next available sequence number.
Miscellaneous Credits (Vendor)	Active vendor miscellaneous credits issued by foreign vendors are revalued if there is a change in the currency exchange rate. A GLETV record is created.
Unmatched Vendor transactions	Unmatched vendor transactions are created in Vendor Invoice Center Entry, and the character function APEBC. These transactions represent outstanding liabilities for unreceived purchase orders. These are revalued just like their related AP transactions, and a GLETV record is created.
Other Vendor transaction types	These AP transaction types are not revalued because they are not outstanding payables: Credit Memos, Rebates, Debit Memos, and Reversals.
Customer Invoices	Open customer transactions represent accrued assets and must be revalued if they are owed by foreign customers. Open invoices and scheduled payments are updated with the new exchange rate and a GLETV record is created. The actual invoice amount and scheduled payment are stored in foreign values and are not revalued; the revalue change is made to GL only. Since Service Charge and COD transactions are represented by schedule payment records, they are handled the same as invoices.
Miscellaneous Credits (Customer)	These represent credits owed to your customers and are updated with the new exchange rate during revaluation.
Other Customer transaction types	These customer transaction types are not revalued because they are not outstanding receivables: Credit Memos, Rebates, Debit Memos, Unapplied Cash, and Reversals.