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FX (Foreign Exchange) Revaluation

How to automate the FX revaluation of Receivables, Payables, Bank Accounts, and Accrued/Deferred Revenue

Step by Step Guide: 

1. Navigate to Accounting > General Ledger > FX Revaluations

2. On the Search FX Revaluation landing page, you will see any existing FX revaluations and can scroll through the list or use the filter section for a more targeted search.

Select NEW FX REVALUATION to create one.

3. There are a few options on the Create FX Revaluation Page

4. Accounting Year - Select the accounting year

5. Accounting Month - Select the account month.

6. Get FX Rates From Current Rates - Select the foreign exchange rates to be used for revaluation.

  1. Current Rates: Default rates that are setup in the system.
  2. Consolidated Rates: Via the Consolidated Exchange Rates link and data is populated from Xignite, subscription required.
  3. Monthly Rates: Select a specific report rate based on the month it was created.

7. Revaluation Types - Select the transactions with FX movements to revalue:

  1. Receivables
  2. Payables
  3. Bank Accounts
  4. Accrued Revenue
  5. Deferred Revenue

You can select one or more.

8. Offices - Select multiple offices or single office to revalue

9. Currencies - Select multiple currencies or a single currency to revalue

10. Select the parameters required for the FX Revaluation and select Next

11. - You will be directed back to the Search FX Revaluations landing page, and you will notice that unapproved revaluation entries have been created.

  • Click on a revaluation to access a detailed view
  • Select Post and view the journal to see the impact to your General Ledger.