Topic: Revaluation amount is getting posted wrongly
I am using FA2.4.4, and we have disabled Automatic Revaluation of accounts. End of the month, we process revaluation manually using the link "Revaluation of Currency Accounts"
I have an issue where the revaluation amount is being posted to the wrong side. e.g. Credit instead of Debit; etc.
Let me explain using an example:
Our functional currency is KES. I have a bank account with the currency of USD.
I have posted 1 transaction to this account using of 968.70 at the exchange rate of 1 USD = 102.21 KES. So in GL its converted to the equivalent of 99010.83 KES.
The rate at the end of the month is 1 USD=103.23 KES. We ran revaluation. I am expecting an exchange gain of 988.07 posted as below:
Dr Bank 988.07
Cr. Exchange Gain/Loss Account with 988.07
The system has posted as if its an exchange loss:
Dr. Exchange Gain/Loss Account with 988.07
Cr Bank 988.07
Kindly assist if there's something I need to change as this is throwing my bank balances off.