Page History

Revaluation is Revaluation is changes in the value of a country's currency relative to other currenciess currency relative to other currencies.  Transactions can be made in different currencies, International companies . A company can make purchases in foreign currency, whereas their Functional Currency is the home currency. 

Pre-condition:

1. Setup the default accounts and checked the revalue settings.   System Manager > Company Configuration > Multi-Currency.
   1.         Image Added
   2.         Image Added
   3.         Image Added
   4.         Image Added
2. Assign the current exchange rates of the foreign currency to functional currency.
   Go to Common info > Currency Exchange rateRate.
   1.        Image Modified  
3. Close the period to be revalue. Go to Fiscal Year > Open the Fiscal Year of the period to revalue > Close the period of the module.

                           Image Modified

      Take Note:

• Purchasing and Sales module should have a status of revalued first before closing the General Ledger. Hence, it will prompt a message:

                        "AP and AR Modules needs to be revalued first before setting GL status to closed."

...

1. Create a transactions from General Journal (Functional Foreign to Foreign Currency).  then Click save and post.
   1.         Image Modified
2. Then, from From General Ledger menu > Activities >  Click Revalue Currency.
3. Click new button to open Revalue Multi-Currency screen.
4. Fill in the Fiscal Period and the Transaction Type dropdown.
   1.        Image Added 
   2. It will automatically load the transactions details
      1. Verify the Current Forex Rate
      2. Filter the General Journal Account ID
      3. Verify Details against the General Journal screenImage RemovedNote: Transaction Amounts is the sum up of per account ID's.the transaction data

       5  5. Modify the current forex rate today. Data will be calculated.

                             Image Modified

Computations:

• Transaction Amount * Forex Rate = Historic Amount
• Transaction Amount * New Forex Rate = New Amount
• New Amount - Historic Amount = Realized Gain / Loss

6. Click Save and Post Revalue Multi-Currency screen.Preview Tab.

• Verify the data.
• Filter the GJ record no. 

                     Image Added

7. Click Post button. Status will be Posted

                  Image Added

Unposting Revalue Currency

1. Open the Revalue Currency screen
2. Filter the Record No. and Click Open Selected button
3. Click Unpost Preview tab
   1. Image Added
4. Click Unpost button. Status will changed to Ready