Bank Revaluations

andrew-warden

I assume when you do a bank revaluation it uses the up to date values on the day you choose in the posting date

If you run the revaluation today have the Posting date odf31 /05 it uses the bank transactions up to 31/05

Am I correct in my understanding

Regards

Andrew

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claire-craig

Hi Andrew,
Hope I'm right in saying this but your System Date must be set to what the current nominal period is in your calendar and when your run the bank re-valuation for a foreign bank, it will take the Current Year-To-Date figure and re-convert this using the nominal ledger exchange rate for the currency of the bank/bank accounts as in the System Exchange Rates form and where there is a difference it will create a journal for that difference.

Hope that helps.

Regards

Claire

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fzw

I don't think the Bank Revaluation is that sophisticated. I believe it just looks at the foreign value held in the nominal and then uses the nominal exchange rate set up to calculate what the Sterling Value should be. So as long as everything is transferred into the nominal it should be using the up to date figure.

Felicity

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