• Registered: 06/26/2011
  • Posts: 6

Topic: Automatic Revaluation Currency

hi
i m new in this accounting domain.Please any one explain what is Automatic Revaluation Currency,what does it do(by checking box in company setup)

  • joe
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: Automatic Revaluation Currency

If you have the Automatic Revaluation Currency marked in the Company Setup, then your foreign currency bank accounts are revaluated in the underlying GL accounts every time a payment is done to one of the currency bank accounts.

You can unmark this and do this manuelly in the Banking and General Ledger tab. Every time you do the revaluation manuelly, you will also get the foreign currency AR/AP accounts revaluated.

/Joe

  • Elmer
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  • Registered: 04/05/2013
  • Posts: 2

Re: Automatic Revaluation Currency

Does this mean that the amounts reflected in the GL are all in the base currency?

  • joe
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: Automatic Revaluation Currency

Yes, in the GL all the currencies are in the domestic value.

Joe

  • Elmer
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  • Registered: 04/05/2013
  • Posts: 2

Re: Automatic Revaluation Currency

thanks, joe!