Revaluaiton - income and expense accounts

[kommineni7]

Hi gurus,

As per my knowledge revlauaiton is only for asset and liabilities accounts.

is it required to revalue the income and expenses balance.. in what scenarios it is require to revalue income and expense accounts.

FYI - i got this doubt due to below profile option.
'GL: Income Statement Accounts Revaluation Rule'.

Thanks in advance,
Venkatesh

[phanigajarao]

Hi Venkatesh,

We can use the setting in the profile option ?GL: Income Statement Accounts Revaluation Rule?.

The following values are available:

PTD: Only PTD balances will be revalued for income statement accounts.

When you select PTD, the Revaluation program only revalues the PTD balances of your income statement accounts but continues to revalue YTD balances for balance sheet accounts.

YTD: Only YTD balances will be revalued for income statement accounts.
When you select YTD, then the revaluation program behaves as it did before, revaluing YTD balances for both your income statement and
balance sheet accounts.


Thanks

phani

[kommineni7]

Thanks so much phani..

As well i m looking , in what scenarios income and expneses will be revalued? what is the reason behind it.

Normally only asset/liabilities will be revalued?

Thanks,
Venkatesh

[soniakpr83@gmail.com]

Generally, this is utilised when you income statement account/accounts have foreign currency that balances which should be brought up to the market rate (after reval), normally its not used.

This is Rarely used as far as i know....pls let me know if you find something.

Regars,
Sonia

[anjan123]

Hi Sonia,


I have following doubts regarding Revaluation functionality.

1. when we will use Revaluation and what are the accounts required to generate Revaluation entry

2. How to use period base revalution, i.e when we use monthly calendar can we use it for Quarterly, Halfyearly and Yealry if yes where we will give the period range.

3. How we can conform revaluation process Created correct entry or not

4. how we can compare 11i and R12 revaluation process if we are upgrading the instance.