Exact Globe+

Generating revaluation for general ledger

Menu path

Finance ➔ General ledger ➔ Revaluation ➔ General ledger

Introduction

There are countries using currencies that do not have a fixed exchange rate. This means that the true value of amounts in other currencies can fluctuate compared to your default currency. To offset such differences, you can revalue the general ledger accounts in a foreign currency.

Fields

A general ledger account can only be revalued if:

the selected general ledger account(s) is of a balance sheet type, and
the Allow revaluation check box in the Basics tab is selected for the general ledger account through Finance ➔ General ledger ➔ Chart of G/L’s.

Filter section

G/L

Type or select the general ledger or range of general ledgers to be revalued. Alternatively, select the All check box to generate revaluation for all the general ledger accounts.

Cost center

Type or select the cost center or range of cost centers to be revalued. Alternatively, select the All check box to generate revaluation for all the cost centers.

Currency

Type or select a currency that you want to revalue.

Include balance(DC) = 0

Select this check box to include transactions with zero balance amount in the default currency for revaluation.

Include balance(FC) = 0

Select this check box to include transactions with zero balance amount in a foreign currency for revaluation.

Criteria section

Date/Reporting date

Type or select a date or reporting date to retrieve the foreign currency records for the revaluation based on the defined date. You will see Date or Reporting date depending on the setting you have defined at Check: Closed periods under the Period and year control section in General settings. For more information, see General settings

The revaluation logic based on Date or Reporting date will only be applied for the first revaluation. Hence, changing the setting at Check: Closed periods for the subsequent round of revaluation will not influence the revaluation logic if revaluation has already been performed. For example, if you have used Reporting date as the basis for revaluation for the first time, and then you change the setting at Check: Closed periods to Date, the revaluation logic will not change and will remain to use Reporting date for revaluation.

Journal

Type or select a journal that you want the revaluation posting to be generated to.

Buttons

Start

After you have defined all the criteria, click this to revalue the general ledgers.

Close

Click this to exit.