(1) How to do revaluation for Foreign Currency Bank Account and
(2) How to remove the unrealized balance in General Ledger when the Foreign Currency Bank Account is nil balance.

Abigail Lee
3131-0303-2020202020202020

Step (1) confirm that your Cash/Bank Book - Foreign Currency is NIL for the bank account.

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Step (2) verify the balances outstanding in your General Ledger Listing and noted there is still an outstanding balance in the bank account.

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Step (3) set-up Revaluation Accrual Accounts accordingly.

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Step (4) set-up exchange rate for Daily Currency Rates
 
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Step (5) go to Unrealized Revaluation

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Step (6) run Unrealized Revaluation

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Step (7) note the GD transaction number generated by system

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Step (8) check the GD transaction generated by system and note that there is a missing Accounts Code for the bank which you can manually enter the General Ledger code of the bank account

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Step (9) confirm from the General Ledger listing that the bank balance is NIL and that the entries generated by system is correct.

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Step (10) *this step is only applicable to bank balance that is nil in balance*

-go to the Revaluation Transaction and delete the Reversal entries since it is not relevant in this case.

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