Home » Categories » Solutions by Business Process » Finance » Currency

Nominal Ledger Revaluations

Datafile Software

Nominal Ledger Revaluations

The need to revalue nominal ledger accounts normally comes about only due to changes of holding rate. Even in this event only certain balance sheet accounts may need to be revalued. Note that debtor and creditor ledger control accounts are automatically revalued as a result of revaluing the sales and purchase ledgers (see above) and so should not be revalued here.

Two journal entry options are supplied to undertake revaluation of individual accounts. These procedures allow accounts to be selected either one-by-one for revaluation, either at the current holding rate, or the current spot rate, or to revalue all accounts for a particular currency. Any exchange difference is posted to an exchange difference account, and this difference may be posted as a provisional entry if required — such as might be needed at year-end, when a true exchange rate is needed, regardless of the current holding rate.

Custom Fields
  • Release ID: Standard
Attachments Attachments
There are no attachments for this article.
Related Articles RSS Feed
Document Design Manager
Viewed 1589 times since Tue, Jun 26, 2012
Application Differences - Cashbook - Bank Reconciliation
Viewed 1703 times since Tue, Jun 26, 2012
Application Differences - Sales & Purchase Ledgers - Entering Payments and Payment Adjustments
Viewed 1576 times since Tue, Jun 26, 2012
Clear Old Rates
Viewed 1604 times since Tue, Jun 26, 2012
Converting Existing Ledgers - Sales & Purchase Ledgers - Database Changes
Viewed 1725 times since Tue, Jun 26, 2012
Application Differences - Sales & Purchase Ledgers - Account Enquiry
Viewed 1484 times since Tue, Jun 26, 2012
Application Differences - Nominal Ledger Revaluations - Revalue a Nominal Account
Viewed 1599 times since Tue, Jun 26, 2012
Currency Management
Viewed 1618 times since Tue, Jun 26, 2012
Spot Rates Report
Viewed 1432 times since Tue, Jun 26, 2012
Controls & Audit Manager
Viewed 1680 times since Tue, Jun 26, 2012