Foreign Currency Revaluation Report

What does it do?

Extract the current month outstanding (unallocated) transaction.  Recalculate value by multipling the current exchange rate with the source document foreign currency to obtain the current month value (C).  And using the same method, but using prior motnh exchange rate to derive on the previous month value (P).  Deduct the value (C) with (P) to obtain the gain or loss amount for that transaction.  Aggerate the entire account to obtain the gain or loss amount for the entire account.

How to obtain this report?

Report -> AR (or AP) Statement.

Fill up the form , look out specifically for the following fields:

• Change the Statement Date to the appropriate report date.
• The Currency field must be select
• Prior Date for comparison and the correct exchange rate used for that month.
  
  
  
• Then click the Revaluation Button.

It would be a good idea to reprint the Statement and Ageing Report at the moment for comparison.

Understanding the report:

The report has 2 parts.  The detailed transaction list plus a account by account summary at the end.

2 important column are show in the detailed transaction list - Calclated value for prior month (P) and Calculated value for current month.  The last column is the Gain or Loss at the transaction.  At the end of the list and summary of this Gain or Loss sub-total for the account.

At the end of the report, a summary by account level.  Use this to create your current month revaluation journal.