Running the Currency Revaluation Report

Use the Currency Revaluation Utility to generate realized and unrealized currency gains and losses that occur because of currency rate changes.

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.

To run the utility:

  1. Select the accounts to process:
    • Receivables
    • Payables
    • Vouchers Payable
  2. Specify this information:
    Starting/Ending Currency
    Select the range of currency codes to include in the process.
    Transaction Date
    The current date is displayed. Optionally, select a different date as the transaction date.
    Increment Date
    Select the check box to automatically re-run the report.
    Realize Gain/Loss
    Select this check box to use the Realized accounts that are tied to each currency and to update the historical rates stored on each record.Clear this check box to use the Realized accounts that are tied to each currency, but leave unchanged the historical rates stored on each record.
  3. Select Preview and click Process to view the results without saving.
  4. Select Commit and click Process to run the utility and save the results.
  5. The Inventory Adjustment Offset field is enabled only if Use Analytical Ledger is selected on the General Parameters form. Select the number of the Inventory Adjustment Offset account for which entries will be made to the General Journal. This account must be a non-analytical account.
  6. The results grid shows this information:
    Customer
    The customer number is displayed.
    Customer Name
    The name of the customer is displayed.
    Invoice
    The invoice number is displayed.
    Vendor
    The vendor number is displayed.
    Vendor Name
    The name of the vendor is displayed.
    Currency
    The currency code is displayed.
    PO
    The purchase order number is displayed.
    Invoice/Voucher
    The invoice/voucher number is displayed.
    Detail Description
    A description of the journal entry is displayed.
    Exchange Rate
    The exchange rate currently on the journal entry is displayed.
    Foreign Total Amount
    The total transaction amount is displayed in the foreign currency.
    Old Amount
    The domestic currency amount converted from the Foreign Total Amount is displayed using the old exchange rate.
    New Amount
    The domestic currency amount converted from the Foreign Total Amount is displayed using the revalued exchange rate.
    Cost of Revaluation
    The gain or loss amount associated with the transaction is displayed.
    Gain or Loss Amount
    The currency gain/loss amount generated for the invoice or voucher is displayed.
    Account number
    The account number is displayed.
    Account Unit 1-4 Reporting Units
    The unit codes used for detailed reporting and analysis are displayed.
    Domestic Total Amount Debit 1-2
    If the journal entry is a debit, the amounts debited are displayed.
    Domestic Total Amount Credit 1-2
    If the journal entry is a credit, the amounts credited are displayed.
    Net Loss
    The amount lost due to the change in exchange rate is displayed.
    Net Gain
    The amount gained due to the change in exchange rate is displayed.
    Variance Account number
    The account number used when posting the gain or loss is displayed.
    Variance Account 1-4
    The unit codes associated with the variance account number for the posted gain or loss are displayed.
    Description
    A description of the account number is displayed.
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