Home » Categories » Solutions by Business Process » Finance » Nominal and Cashbook |
Revalue a Nominal Account - Nominal |
Article Number: 1035 | Rating: Unrated | Last Updated: Mon, Jun 19, 2023 at 7:16 PM
|
Datafile Software Revalue a Nominal Account - Nominal The need to revalue nominal accounts normally comes about only due to a change in the holding rate.Even in this event it may only be certain balance sheet accounts which need to be revalued. Note that the debtor and creditor control accounts would be automatically revalued as a result of revaluing the sales and purchase ledgers and thus would not need a separate revaluation. 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. |
Attachments
There are no attachments for this article.
|
Journals - Cashbook
Viewed 1154 times since Wed, Jun 27, 2012
Journal Listing - Nomimal
Viewed 1209 times since Wed, Jun 27, 2012
System Profiles Screen 2 - Nominal
Viewed 1316 times since Wed, Jun 27, 2012
Full Mode Financial Summary Definition - Nominal
Viewed 14070 times since Wed, Jun 27, 2012
Reports and Analysis - Nominal
Viewed 1219 times since Wed, Jun 27, 2012
Bank/Cash Statement - Cashbook
Viewed 1206 times since Wed, Jun 27, 2012
Account Audit Trail, Account Audit Trail (Currency) - Cashbook
Viewed 1206 times since Wed, Jun 27, 2012
Maintain Cash Book Accounts - Cashbook
Viewed 1315 times since Thu, Jun 28, 2012
Database Audit - Nominal
Viewed 1186 times since Wed, Jun 27, 2012
Bank Reconciliation - Cashbook
Viewed 1261 times since Wed, Jun 27, 2012
|