Application Differences - Nominal Ledger Revaluations - Revalue a Nominal Account

This procedure allows accounts to be selected one-by-one for revaluation, ether at the current holding rate or spot rate. Any exchange difference is posted to the exchange difference account for that currency and this difference could be posted as a provisional journal if required.

Period No / Date

Enter the period number and date as of which you wish to revalue.

Account Code

Select the account code you wish to revalue, <F4-Select> is available. Of course, you can only revalue non-base currency accounts.

Balance in Currency

Balance in Home

New Holding Rate

New Spot Rate

The system then displays the balance of the account in both the currency of the account and the base value together with the holding and spot rates it will revalue this account at.

Revalue at Current / Spot Rate

Effect of Exchange Difference Value

This asks whether you want to revalue at the current holding rate (enter ‘C’) or the spot rate (enter ‘S’). At this point the system determines whether any exchange difference is calculated – if not then you are warned accordingly and asked if you wish to revalue another account. If a difference is calculated then the system displays the result.

Write Off Exchange Difference to Account

This asks for the account to post the exchange difference to, it defaults to the exchange difference account set for the currency but you can amend as required. <F4-Select> is available.

Post as Provisional Journal

Set accordingly.

After confirming these details you will be prompted to update the nominal files, respond as required and then confirm whether you wish to revalue another nominal account.