How to setup and run Unrealized Exchange Gain/Loss for foreign banks and AR/AP transactions

Richard Kwa
1212-0303-2020202020202020

1. Accounts Posting Setting

2. Charts of Account – tick for all foreign currency bank, trade creditors, trade debtors and any account that involve foreign currencies transactions

3. General Ledger – Maintenance – Unrealized Revaluation

4. Cash Bank Book – Maintenance – Unrealized Revaluation

5. How to run the Unrealized Revaluation – General Ledger – Operations – Unrealized Revaluation
5a. Setup the currency rate before running the revaluation process. General Ledger – Maintenance – Exchange Rate (by date) set the revalue rate

5b. General Ledger – Operations – Unrealized Revaluation

Have to run once for Bank Revaluation and another run for Accrual Revaluati0n (AR, AP

Two journal batches will be created with type as GD. For example, GD 1 is the revaluation journal transactions as per the date of run i.e. 29 Feb 2020. GS 2 is the reversal journal transactions as on the next calendar date i.e. 1 Mar 2020.
You can view the transaction via General Ledger, Operations – Revaluation Transactions.

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