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Bank revaluations

When you process bank transactions using the Foreign Trader option you may use a variety of exchange rates and therefore the sterling value may not match the current exchange rate.

For example, a balance of €5000 at an exchange rate of 1.653450 = £3023.98. However, at your Month End the exchange rate may have risen to 1.752908. In this case the €5000 is now only worth £2852.40 (a difference of £171.58). This may cause your financial reports display incorrect figures.

You can use the Bank Revaluation wizard to revalue the entire sterling balance at the required exchange rate. After you run the wizard all the revaluation details are in the Revaluations tab on the Bank Record.

To run the Bank Revaluation Wizard

1. Modules > Wizards > Foreign Bank Revaluation.
2. From the Currency drop-down list, choose the required currency > select the required bank account > Next.
3. Enter the date you want to revalue on > enter the exchange rate you want to revalue at > Next.
4. Check the details are correct > Post.

To adjust a revaluation

1. Bank > select the required bank account > Bank Record > Revaluations.
2. Show Balances > Edit > in the Rate box enter the required exchange rate > OK.
3. Save > Close.

To reverse a revaluation

1. Bank > select the required bank account > Bank Record > Revaluations.

2. Show Balances > Reverse > Save > Close.