Foreign currency revaluation for bank accounts

Revalue foreign currency amounts for bank account transactions

Important

This section applies only to legal entities that have a primary address in Poland.

You can revalue foreign currency amounts for bank transactions. You can then create a report to view the bank transactions that have adjustments for foreign currency revaluations.

1. Select Cash and bank management > Periodic tasks > Bank - Exchange adjustment (FIFO/LIFO).
2. In the On date field, enter an end date for the revaluation. The calculation includes only transactions that have a date that is before the specified date.
3. Select Records to include > Filter > Add to add a bank account. If you don't specify a bank account, amounts are revalued for all bank accounts.
4. Select OK to close the query page.
5. On the Foreign currency revaluation page, select the Recalculation check box to revalue foreign currency amounts for all open periods.

Create a report to view bank transactions that have adjustments for foreign currency revaluations

Important

This section applies only to legal entities that have a primary address in Poland.

1. Select Cash and bank management > Inquiries and reports > Bank - Exchange adjustment report.
2. Select Records to include > Filter to find one or more bank accounts to view information for.
3. Optional: In the Bank account field, select a bank account. If you leave this field blank, the report includes bank transaction details for all bank accounts.
4. Select OK to generate the report.

Calculate exchange rate adjustments for bank account transactions

Important

This section applies only to legal entities that have a primary address in the Czech Republic, Estonia, Lithuania, or Latvia.

You must revalue and adjust bank accounts if there is a difference in the exchange rate between the accounting currency and the reporting currency. This task helps you calculate the correct balance in both the accounting currency and the reporting currency for the bank accounts.

1. Select Cash and bank management > Setup > Cash and bank management parameters.
2. On the Number sequences tab, in the Reference field, select a number sequence for the Bank - Exchange adjustment reference.
3. Close the page.
4. Select General ledger > Setup > Currency > Currency exchange rates. On the Currency exchange rates page, you can define the exchange rate between two currencies or a currency pair.
5. When you've finished, close the page.
6. Select General ledger > Setup > Ledger. In the Unrealized gain and Unrealized loss fields, select the main account that the exchange rates are posted for.
7. Close the page.
8. Select Cash and bank management > Periodic tasks > Foreign currency revaluation.
9. In the On date field, select the revaluation date or adjustment date.
10. In the From currency field, select the current currency code. In the To currency field, select the currency that the adjustment should be made to.
11. Select Records to include > Filter to find the bank account, and then select OK.
12. On the Foreign currency revaluation page, select OK. The adjustment for the bank account transactions on the selected date is calculated.

Note

In the general ledger, you can view two separate transactions: one for the accounting currency and one for the reporting currency.