how to do revaluation at sub ledgers. if suppose i purchased an item or an asset last period , and i haven`t paid the amount . in current period i want to revalue it . so how i can revalue it in payables. can any one help me out in these issue.
is it possible in AR
is it possible to transfer to gl with out making payment an validated and accounted invoice
revalution in AP/ar
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Murthyoracle
- Posts: 147
- Joined: Thu Sep 06, 2007 9:13 am
- Location: India
Hi Vasanth,
I think you will know the concept of Revaluation and process in GL.
I dont have idea in AR and but i will explain the process in AP.
In paybles in Payable option -> Multi Currencies tab you have to enable Multi currincies check box and in the same tab you have to give code combination of Realized gain and loss accounts. Before this you have to define rates. In payables Revaluation will work automatically when you have paid the Foregin currecy Invoices. At that time the Un Realized gain / loss will not effected and directly Realized gain / loss accounts will be effected as per Currency Rate.
As per your question, You have purchased machinery in Jan08 , You have run Revaluation in Feb 08 in GL Process ( But not paid till march08) and it shows only Un Realized gain / loss as per rates defined.
In Mar08 you have entered in invoice with same foreign currecny and paid the amount in same currecy then Realized gain / loss accounts will be effected as per rates defined.
As per normal procedure the payment transaction, it will transfer to GL with the souce Purchase invoice and Paybles.
In GL it will be view purpose only and in case , if you posted any Revaluation Journals from GL ( Before payment) , it should be reversed otherwise, the GL Trial Blance will show the same transaction double i.e one from GL and other one from Payables ( at the time of payment).
Correct if i am wrong.
I think you will know the concept of Revaluation and process in GL.
I dont have idea in AR and but i will explain the process in AP.
In paybles in Payable option -> Multi Currencies tab you have to enable Multi currincies check box and in the same tab you have to give code combination of Realized gain and loss accounts. Before this you have to define rates. In payables Revaluation will work automatically when you have paid the Foregin currecy Invoices. At that time the Un Realized gain / loss will not effected and directly Realized gain / loss accounts will be effected as per Currency Rate.
As per your question, You have purchased machinery in Jan08 , You have run Revaluation in Feb 08 in GL Process ( But not paid till march08) and it shows only Un Realized gain / loss as per rates defined.
In Mar08 you have entered in invoice with same foreign currecny and paid the amount in same currecy then Realized gain / loss accounts will be effected as per rates defined.
As per normal procedure the payment transaction, it will transfer to GL with the souce Purchase invoice and Paybles.
In GL it will be view purpose only and in case , if you posted any Revaluation Journals from GL ( Before payment) , it should be reversed otherwise, the GL Trial Blance will show the same transaction double i.e one from GL and other one from Payables ( at the time of payment).
Correct if i am wrong.
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