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.
|
Comparatives Report - Nominal
Viewed 1367 times since Wed, Jun 27, 2012
Journal Cleardown - Cashbook
Viewed 1368 times since Wed, Jun 27, 2012
Application User Facilities - Cashbook
Viewed 1367 times since Thu, Jun 28, 2012
Real Time Updates – VAT Summary Posting Copy Items
Viewed 18 times since Thu, Oct 17, 2024
Automatic Bank Reconciliation - Automatically Accept Unique Suggested Matches
Viewed 110 times since Wed, Oct 16, 2024
Cash Book Configuration
Viewed 1378 times since Thu, Jun 28, 2012
PERIODS – Comparative Input for Periods - Nominal
Viewed 944 times since Wed, Jun 27, 2012
Multiple Updating - Update From Another Nominal - Nominal
Viewed 1412 times since Thu, Jun 28, 2012
Compact & Audit Database - Nominal
Viewed 1426 times since Thu, Jun 28, 2012
Transaction Control Numbers - Cashbook
Viewed 1349 times since Thu, Jun 28, 2012
|