Revaluing Assets and Liabilities for the Euro

If you work with customers and/or vendors that use a Part of Euro currency, but you have not converted your domestic currency to the euro, you must revalue your outstanding assets and liabilities. Perform this procedure on or after 1/1/1999.

Caution: If your company is situated in a euro-participating country, euro regulations require you to revalue asset and liability transactions using this exchange rate. If you are not situated in a euro-participating country, this revaluation is optional.

To revalue assets and liabilities:

Run the Currency Revaluation Report for all Part of Euro currency codes.
Select the Realize Gain/Loss check box.
Run the Bank Account Revaluation utility for all bank codes that use a Part of Euro currency code.
Open the Euro Exchange Rate Revaluation utility.
In the Starting and Ending Currency Code fields, select the range of all Part of Euro currency codes in your system.

For each outstanding asset and liability transaction that contains a currency code in this range, the system updates the exchange rate to the appropriate national currency-to-euro exchange rate (which is fixed as of 1/1/1999). This exchange rate is used in all triangulation conversions between Part of Euro currencies during the euro interim period.

See About the Euro Triangulation Conversion.
To review a list of the conversions, select Preview then click Process.
To start the conversion, select Commit and then click Process.