Hi ,
In oracle , currency revaluation is done in GL. All the AP invoices accounting entries in foreign currency are converted to GL periodically.
When we revalue foreign currency journals in GL the control account value chances.
Then how to reconcile the AP value against GL to get the accurate respresentation of the balances ?
Thanks
Revaluation -Reconcile AP control account with GL
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Hi
Please note the revalauation entries passed at the end of every month generates only an unrealized gain/loss and this will be reversed at the very beginning of next month
You are right. The GL Control account and AP Liability control account will not mach. But the difference can be identified by running the account analysis report with the source Revaluation for the period
will show the difference lies in that account or even an Account inquiry screen will show the source as Revaluation Journal. so this way the difference if any between GL and AP Liabililty Control account can be reconciled
Hope this helps
Regards
Sivakumar
Please note the revalauation entries passed at the end of every month generates only an unrealized gain/loss and this will be reversed at the very beginning of next month
You are right. The GL Control account and AP Liability control account will not mach. But the difference can be identified by running the account analysis report with the source Revaluation for the period
will show the difference lies in that account or even an Account inquiry screen will show the source as Revaluation Journal. so this way the difference if any between GL and AP Liabililty Control account can be reconciled
Hope this helps
Regards
Sivakumar
Hi ,
Your point is , the difference in the amount can be identified from the 'revaluation' journal while will debit/credit the control account and the gain/loss account. Thanks for the info.
By the way the report you mentioned should have been journals report or account analysis report ? Account analysis report didn't have the parameter for 'source'. Correct me if I am wrong .
Thanks
Sam
Your point is , the difference in the amount can be identified from the 'revaluation' journal while will debit/credit the control account and the gain/loss account. Thanks for the info.
By the way the report you mentioned should have been journals report or account analysis report ? Account analysis report didn't have the parameter for 'source'. Correct me if I am wrong .
Thanks
Sam
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