FX revaluation

FX Revaluation shows your foreign-currency balances at a month end, in ringgit, at the closing rates. Posting it puts the gain or loss in your books. A revaluation is posted on the month end and reversed the next day.

Who can do this

• Only owners and admins can post a revaluation. A member sees "An owner or admin posts revaluations." under the page title.
• Everyone in the workspace can see the screen and the posted revaluations.
• In the demo workspace nothing can be changed.

Before you start

You need foreign-currency invoices, bills or bank accounts in your books. Without any, the screen says there is nothing to revalue. See Foreign currency.

Steps

1. Open FX Revaluation under Analytics in the Finance menu.
2. Choose the Month end.
3. Check the Closing rates. Each starts as Bank Negara Malaysia's 5 pm selling rate on or before the month end. You can type another rate.
4. Check the Items: for each one, the foreign balance, the rate, what it is carried at, what it is revalued at, the difference, earlier runs, and the gain or loss.
5. Click Post revaluation, then Post FX revaluation to confirm.

The posted revaluation is dated the month end and reversed the next day. It appears under Posted revaluations, where you can open its lines and Export them. You can also see it in the general ledger on Journals.

Common problems

• "Choose the last day of a month, on or before today."
• "… is already posted. Month ends are revalued in order, so an earlier one cannot be revalued now."
• "The figures changed since this page worked them out: … Look at them again, then post." A payment, a document or a rate may have arrived.
• "Nothing to post: every foreign-currency balance at … is already at these rates."
• "Enter the closing rate for … before posting." A currency has no rate yet. Type one in.
• "A posted FX revaluation is not changed. Run the month end again to post a correction."
• "Only an owner or admin can post an FX revaluation."

Related

• Foreign currency
• Financial reports