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Overview
A new journal has been added to host multi-currency revaluations. Transactions in this journal are marked as realized or unrealized gains and losses. Any revaluation transaction has only two G/L accounts: the sub-ledger account that is being revalued; and the offsetting gains and losses account. Transactional lines include the gain or loss, and can optionally identify the project. A positive value represents a gain while a negative value a loss. For complete instructions go here: More on Multi-Currency
Key Concepts
| • | This journal does not utilize a debits verses credits approach as a recorded positive value will act as a debit against the sub-ledger (Balance Sheet) account while simultaneously acting as a credit to the gains and losses (P&L) account. While this journal is used by automated system utilities with pre-posting reports to generate realized and unrealized gains and losses, manual entry in this journal is also supported. |
Field Descriptions
| • | Manual - Marked if entering the transaction manually |
| • | Balance Sheet Account - Sub-ledger account being revalued |
| • | Profit / Loss Account - Offsetting Gains and Losses account |
| • | GL Period - G/L posting period for the revaluation |
| • | Evaluation Date - Date used in evaluating the exchange rate |
| • | Realized - Indicates a realized or unrealized (unchecked) gain and loss. |
| • | GL Comments (header) - General notes for the revaluation. |
MC Revaluations Grid
| • | Base Amount - Amount in Base System Currency |
| • | Company Amount - Amount in Company Currency |
| • | Project - Specifies the project (optional) |
| • | GL Comments (detail) - General notes for the line item |
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