Revalue general ledger accounts (CM506000)
Use this window to revalue General ledger accounts denominated to foreign currencies. Select a currency of denomination to display all General ledger accounts maintained in this currency, and then select accounts and provide a description for the revaluation. You can revalue the General ledger accounts denominated in foreign currencies as often as needed to accurately reflect your cash position.
The window toolbar
| Button | Description |
|---|---|
| Revalue | Initiates the revaluation of the General ledger accounts you have selected. As a result, a batch of Currency management transactions is released and posted. If there is an error in the Period or the Currency effective date field, the button is disabled. |
The top part
By using the elements in this area, you can specify a revaluation.
| Element | Description |
|---|---|
| Period | The period for which revaluation is performed.
|
| Currency effective date | The effective date for the currency exchange rate. By default, the last day of the current period is shown. |
| Currency | The currency of denomination. |
| Description | A detailed description of the revaluation. You can use up to 30 characters, both numbers and letters. The system uses this description as the description of the batch (and each journal entry of this batch) generated by the revaluation process. For example: It is added to the Transaction description column in the Journal transactions (GL301000) window for each journal entry of the Currency management batch, and to the Description column in the Account details (GL404000) window for each Currency management batch. |
| Revaluation total | The total amount of the revaluation. |
The table
This table contains the list of accounts with the balances in the original currency and in the base currency before and after revaluation.
| Column | Description |
|---|---|
| Branch | The branch that uses this account. |
| Account | An account that has records in the selected foreign currency. |
| Description | The description of the account. |
| Subaccount | The subaccount used with the account. This column is available only if the Subaccounts functionality is enabled in the Enable/disable functionalities (CS100000) window. |
| Currency rate type | The rate type to be used for the revaluation. It is specified in the General ledger revaluation rate type field in the Currency management preferences (CM101000) window. It can also be specified for a General ledger account individually in the Revaluation rate type field in the Chart of accounts (GL202500) window. |
| Currency rate | The currency rate effective on the date of revaluation. |
| Foreign currency balance | The balance in the selected foreign currency. |
| Original balance | The account balance in the base currency as it is maintained historically. |
| Revalued balance | The balance of the account recalculated by using the efficient currency rate. |
| Difference | The difference (in the base currency) between the original (historical) and the revalued balances. |
| Last revaluation period | The period when revaluation was last performed. |