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When you run revaluation, General Ledger creates a revaluation batch containing a separate journal entry for each revalued foreign currency. Note that General Ledger creates the revaluation adjustments in your functional currency. General Ledger automatically defines the reversal period as the next accounting period.
When you revalue balances in an average balance set of books, General Ledger only revalues standard balances. When you post the revaluation journal entries to update your standard balances, the system will recompute your average balances automatically.
Additional Information: If you use Multiple Reporting Currencies, you must run revaluation in your primary set of books and in each of your reporting sets of books.
Note: As you complete the remaining steps, note that the Revalue Balances window may display various warning messages, depending on the selections you make, especially if either the currency you are revaluing or your functional currency has a currency derivation of Euro, EMU, or Interim EMU (see: Currency Derivations). If you receive a warning, review your entries carefully to make sure they are correct.
Additional Information: If you enter an invalid effective date, based on the Effective Date Rules you've defined for your Revaluation journal source, General Ledger will automatically adjust the effective date to one that is valid. See: Effective Date Validation.
Note: You must define a period-end rate for your selected accounting period and currency before you can run revaluation.
Note: If you use Multiple Reporting Currencies and post a revaluation batch in your primary set of books, General Ledger does not create a converted journal in your reporting sets of books as it does for other journals.
Currency Derivation of Functional Currency | |||
---|---|---|---|
Currency Option | Other | Euro or EMU | Interim EMU |
Single Currency | Revalues standard balances denominated in the selected currency for the selected period and range of accounts. Currencies revalued using the specified rate. | Revalues standard balances denominated in the selected currency for the selected period and range of accounts. Currencies whose currency derivation is Other are revalued using the rate for the currency and period. Currencies whose currency derivation is Euro, EMU, and Interim EMU are revalued using the fixed conversion rate. | Revalues standard balances denominated in the selected currency for the selected period and range of accounts. Currencies whose currency derivation is Other are revalued using the rate for the currency and period. Currencies whose currency derivation is Euro, EMU, and Interim EMU are revalued using the fixed conversion rate. |
EURO+EMU | Revalues standard balances denominated in a currency whose currency derivation is Euro, EMU, or Interim EMU, for the selected period and range of accounts. Currencies are revalued using the rate for the currency and period. | Revalues standard balances denominated in a currency whose currency derivation is Euro, EMU, or Interim EMU, for the selected period and range of accounts. Currencies revalued using the fixed conversion rate. | Revalues standard balances denominated in a currency whose currency derivation is Euro, EMU, or Interim EMU, for the selected period and range of accounts. Currencies revalued using the fixed conversion rate. |
All Currencies | Revalues all standard balances denominated in a currency other than your functional currency, for the selected period and range of accounts. Currencies are revalued using the rate for the currency and period. | Revalues all standard balances denominated in a currency whose currency derivation is not Euro or EMU, for the selected period and range of accounts. Currencies whose currency derivation is Other are revalued using the rate for the currency and period. Currencies whose currency derivation is Euro or EMU are not revalued. Currencies whose currency derivation is Interim EMU are revalued using the fixed conversion rate. | Revalues all standard balances denominated in a currency other than your functional currency, for the selected period and range of accounts. Currencies are revalued using the rate for the currency and period. |
Table 1 - 27. (Page 1 of 1) Summary of Revaluation Program Action |
Overview of Multi-Currency Accounting
Overview of Average Balance Processing
Multiple Reporting Currencies Overview
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