Bank Revaluation

You can use this command if your Opera login ID includes 'Manager Rights'. Logins are maintained on the User Profile form in the System Manager.

Use the Bank Revaluation command to revalue the balances of foreign currency bank accounts where the exchange rate has changed since the last revaluation. This only applies if you have the Multi-currency module installed and activated. It is possible to revalue all foreign currency bank accounts or a specific bank account. The command is only applicable if you have the foreign currency bank account feature installed. You can choose to revalue a specific bank account or all bank accounts. If you select the Report Only option, you can print a report of the proposed revaluation without actually affecting the bank account balances. If you select the Update and Report option, the same report is produced but the balances are revalued and updated at the same time by a revaluation journal.

For each foreign bank account, the process will take the current year to-date foreign balance and, using the current nominal ledger exchange rate identified in the Nominal box on the Rates tab of the System Exchange Rates form, convert it into the home currency. This is then compared to the current year to-date home currency balance. Where a difference exists, the application creates a journal of the difference between the two to the bank account and the exchange loss or gain account defined in the corresponding Nominal Code box for exchange discrepancies on the Rates tab of the System Exchange Rates form. The application then recalculates the company bank balance.