Exchange rate revaluation

Necessary to meet statutory reporting requirements when fluctuating exchange rates result in inaccurate statements of various financial balances, the revaluation of foreign currency transactions is available for transactions in accounts payable, accounts receivable, cash book and general ledger.

For accounts payable and accounts receivable, the revaluation will calculate and optionally update the local equivalent of outstanding foreign currency invoices, debit notes and credit notes. For cash book, it will revalue unreconciled foreign transactions and foreign bank balances using the current exchange rate and update the relevant ledger accounts with the difference. The cash book revaluation features also enable you to report on the gains or losses associated with fluctuating local values of outstanding foreign transactions and bank balances resulting from fluctuating exchange rates.

Within the general ledger, you can revalue any of the alternate currency ledgers based on the revaluation categories which you have assigned to the general ledger codes. The revaluation category defines the revaluation method applicable to each alternate currency in use, as well as the gains or loss ledger account defined for variances arising from the revaluation process. You can choose to revalue opening balance and movement, or movement only for the current period using an average rate or the month end rate. Triangulated rates are catered for as well.