If you use multicurrency accounting in your Accounts Receivable ledger, you may need to revalue transactions at new exchange rates periodically to determine the value of receivables on specific dates, such as at financial statement dates.
The revaluation process recalculates the functional-equivalent values of all outstanding multicurrency Accounts Receivable documents, including details, at new exchange rates.
Before you start
- Post all outstanding multicurrency transactions and update currency information in Common Services.
- Determine the currencies to revalue and the rates to use.
- Print the Provisional Revaluation Listing to view the transactions that would be created for the exchange gain and loss general ledger accounts. You can then make any necessary changes to your selections and to currency rates before you create the general ledger transactions.
To revalue transactions:
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Accounts Receivable > Periodic Processing > Revaluation.
- If this is a provisional revaluation, select the Provisional Revaluation option.
- Use the table to enter the currency code, revaluation date, rate type, rate date, and new exchange rate for each currency you want to revalue.
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Use the Optional Fields column to change the optional fields and values for a particular line or to delete optional fields.
An Optional Fields screen opens, showing any revaluation optional fields set up for automatic insertion and their default values.
You can edit the values for existing optional fields, or add or delete optional fields for the detail. However, you can add only optional fields that you set up for use in Revaluation.
- Click Process.
After creating a revaluation batch
- Use the A/R Adjustment Entry screen to review or edit the entries you created.
- Post the revaluation batch.