General Ledger Account Revaluation

This report is used to revalue the foreign currency amounts in local currency for G/L account balances to start a batch job, which creates adjustment entries in the selected journal. When the entries are posted, the local currency (LCY) balance for the account is adjusted. G/L account balances that always show in LCY now reflect changes to the currencies in which entries were posted. If an additional reporting currency (ACY) is included after the LCY amounts are adjusted, the user must run the revaluation process again to adjust the ACY amounts. To enable and use the GL/Account Revaluation functionality, follow the steps below:

  1. In the Search bar, type Feature Management and press Enter.

  2. Enable Feature Update: Enable use of G/L currency revaluation.

  3. Set up the Unrealized Gain/Loss Acc. In Currencies page.

  4. Select Exchange Rate to set the new exchange rate for the currency.

  5. Create a new line to set the new exchange rate.

  6. Go to the Chart of Accounts page.

  7. Search for the G/L Account that needs to be revaluated

  8. Enable Source Currency Revaluation. This creates any transaction with this G/L Account.

  9. Post the transaction.

  10. Return to the Chart of Accounts page.

  11. Select Home, then click G/L Currency Revaluation.

  12. Select a Journal Batch, then click OK.

  13. The journal lines for revaluation will be generated in the selected General Journal Ledger.

G/L Account Card Validation & Definitions

This report respects the Source Currency Posting, Source Currency Code, Source Currency Revaluation, and Unrealized Revaluation settings in the G/L Account Card.

Source Currency Posting - Specifies how the system will validate posting of entries containing currencies.

  1. Blank - allow all currencies to be posted to the account.

  2. Same Currency - only allow the currency specified in Source Currency Code.

  3. Multiple Currencies - only allow only currencies selected in Source currencies page to be posted.

  4. Local Currency - only allow posting without a Currency Code.

Source Currency Code - Specifies the Source Currency Code which can be posted to this account, if the Source Currency Posting is set as Same Code.

Source Currency Revaluation - Specifies if Source Currency Revaluation should be done for this account.

Unrealized Revaluation - Specifies if revaluation should be posted to Currency Realized or unrealized Gains and Losses Accounts.

Fields

Field Description
Entity Filter Specifies the Entities of the entries should be revalued. Users can only select Entities that they have access to (as set up in MEM User Security).