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Application Differences - Nominal Ledger Revaluations - Revalue a Nominal Account |
Article Number: 853 | Rating: Unrated | Last Updated: Tue, Jun 13, 2023 at 12:57 PM
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Datafile Software 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 / DateEnter the period number and date as of which you wish to revalue. Account CodeSelect the account code you wish to revalue, <F4-Select> is available. Of course, you can only revalue non-base currency accounts. Balance in CurrencyBalance in HomeNew Holding RateNew Spot RateThe 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 RateEffect of Exchange Difference ValueThis 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 AccountThis 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 JournalSet 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. |
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