Revalue Banks
This option on the Cash Book window is only available if the Bank Account being examined is for a Foreign Currency. It is invoked by clicking on the Revalue Bank link found on the Currency pull down menu.
You can use the Print button to generate a Revaluation Report.
Caution! The balance that is revalued is the current open period of the Nominal Ledger. The Balance on the Cashbook is the current Nominal Ledger open period plus any transactions posted to future periods. For this reason it may be different to the value used for the revaluation.
Example: EUR bank account
Period 1 - receipt for GBP100 (exchange rate 1.175 = EUR value 117.50)
Period 2 - receipt for GBP100 (exchange rate 1.175 = EUR value 117.50)
Cashbook Balance = EUR235.
No Nominal Ledger period ends have been done, therefore Nominal Ledger Bank Account in Period 1 will have a balance of EUR117.50.
If revaluation is done it will be done on the Period 1 balance (EUR117.50).
Exchange rate 1.200: Balance after revaluation is GBP97.92 - adjustment will be GBP2.08
Revalue Banks window
Revalue:
All the Transactions in this Bank Account will be revalued at the current Exchange Rate for each Transaction’s Currency.
If you select This Bank Account only, you can change the Exchange Rate shown.
If you select All Bank Accounts you will not be able to change the Exchange Rate and the currently held exchange rates for each currency will be used.
Revalue Using
Create Exchange Difference Journal - Tick this option if you wish to create an exchange difference journal automatically for each currency where there is a difference. If ticked you will have the option to Batch the Journals.
Voucher Details
Voucher Ref. - Enter as applicable
Batch Ref. - (only available if Batch Journal option has been selected) Enter as applicable
Date - You may select to post to future periods (if you have been granted the privilege).
Current Year - Shows current period
Note: The generated Journals may be Reversed at Period End, Reversed When Posted, or Not Reversed.
Description - Enter as applicable