Run account balance revaluation

This page allows you to run the revaluation of account balances. Tell me more.

Select the “Run Account Balance Revaluation” link under the “Currency Revaluation” business component.

The “Run Account Balance Revaluation” page appears.

Enter the following field:

Voucher #

A unique number identifying the journal voucher, raised after revaluation (Alphanumeric, 18). This number will be automatically generated if the “Numbering Type” in the “Document Numbering Class” business component for Journal Voucher type is not set to “Manual”. The number is displayed with the corresponding prefix and suffix of the numbering type selected in the “Numbering Type” field. The number is incremented from the last number available in the “Document Numbering Class” business component. This number is generated on running the Account balance revaluation.

Note: The voucher number in mandatory, if the numbering type is set to manual.

The system displays the following fields:

Status	The status of the voucher. The various statuses of the voucher are
	Authorized – The status of the voucher on running the Account balance adjustment revaluation. The system updates the status to “Authorized” on clicking the “Run Revaluation” pushbutton.
	Reversed – Indicates that the voucher entries are reversed. The vouchers can be reversed in the “Reverse Account Balance Revaluation” activity of this business component.
Voucher Date	The date on which the voucher was posted. The system defaults the last date of the selected open revaluation period.

Enter the following fields:

Finance Book	Use the drop-down list box to select the code identifying the finance book in which the voucher entries are to be posted. All the finance books mapped to the login organization unit will be available for selection in the ascending order. The system displays the first finance book in the list by default on launch of the page.
Numbering Type	Use the drop-down list box to select the numbering type for the login organization unit and the “Reversal” transaction voucher type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Document Numbering Class” business component and must be in “Active” status as on the Transaction date. The system displays the numbering type set as default for the transaction in the “Document Numbering Class” business component.
	You can also select “Manual” if you want to enter a unique voucher number of your own.
Remarks	Any remarks pertaining to the Account balance revaluation (Alphanumeric, 255).

Enter the following fields in the “Reversal Voucher Details” group box:

Reversal Voucher #	A unique number identifying the reversal voucher (Alphanumeric, 18). This number will be automatically generated if the “Numbering Type” in the “Document Numbering Class” business component is not set to “Manual”. The number is displayed with the corresponding prefix and suffix of the numbering type selected in the “Numbering Type” field. The number is incremented from the last number available in the “Document Numbering Class” business component.
	The reversal voucher number is generated on run revaluation.
Reversal Numbering Type	Use the drop-down list box to select the numbering type for the login organization unit and the “Currency revaluation voucher” transaction voucher type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Document Numbering Class” business component and must be in “Active” status as on the Reversal date. The system displays the numbering type set as default for the transaction in the “Document Numbering Class” business component.
	You can also select “Manual” if you want to enter a unique reversal voucher number of your own.

The system displays the following:

Reversal Date

The date on which the voucher is reversed. The system displays the first date of the subsequent revaluation period.

Note: The voucher date and the reversal voucher date must fall within the effective period of the account code.

Enter the following fields in the “Search Criteria” group box to search for the account code details.

Simulation Run #	The number identifying the simulation run (Alphanumeric, 20). This number is generated in the “Simulate Account Balance Revaluation” activity of this business component.
	Help facility available.
Revaluation Period	Use the drop-down list box to select the open financial period in which the account balances are to be revalued. The system displays the earliest open financial period for which revaluation period by default on launch of the page. Revaluation for the selected period as well as any of the succeeding financial periods should not have been completed.

Note: If the process parameter “Currency Revaluation Completeness Check before Closure” has been set to “Yes”, then the revaluation run is mandatory for all the open periods sequentially.

If parameter is set to “No”, then revaluation can be done for any of the open financial periods. For example, if there are three periods in the financial year and the revaluation entries are passed in the period two then the period one will be locked and the revaluation entries cannot be passed in it.

The revaluation entry can be passed only once for a revaluation period. However, the same can be reversed and another revaluation entry for the revaluation period can be passed.

Currency	Use the drop-down list box to select the code identifying the foreign currency. The system lists all the account currencies defined in the “Create Currency and Country” activity of the “Organization Setup” business component, except the base currency. The system lists the first currency in the list by default on launch of the page.
	All account currencies of the company, other than Base currency of the company is listed for selection.
Account # From	The starting number in the range of account number from which the details are to be retrieved (Alphanumeric, 18). The system retrieves the account codes that are greater than the number specified here.
	If this field is left blank and the “To” field is entered, then the system retrieves from the first account code till the end of the database otherwise till the code specified in the “To” field.
	Help facility available.
To	The ending number in the range of account code till which the details are to be retrieved (Alphanumeric, 18). The system retrieves the account codes that are less than or equal to the code specified here. The code entered in this field must be greater than the code specified in the “Account # From” field.
	If this field is left blank and the “Account # From” field is entered, then the system retrieves all the account code from the first account code till the code specified in the “Account # To ” field.
	Help facility available.

Note: You can enter the account code in full or specify it partially using the ‘*’ character. The system retrieves the account codes that are similar to the value specified.

Account Group

Use the drop-down list box to select the code identifying the group to which the account belongs. The accounts must have been associated to the account group in the “Create Operative Chart of Accounts” activity of the “Accounting Setup” business component. The system lists "All", “Asset” and “Liability” for selection. If you select “All”, the system retrieves and displays all the Account Codes of “Asset” and “Liability”.

By default, the system displays “All”.

Click the “Get” pushbutton to retrieve the account details in the multiline.

The system displays the following in the “Revaluation Information” multiline:

Account #	The code identifying the account. All the account codes defined in the “Accounting Setup” business component will be listed based on the following condition:
	All operative account codes mapped to the selected finance book.
	All operative account codes effective as on the revaluation period end date and effective as on the succeeding financial period as well.
	All operative account codes with account currency being other than base currency.
	All operative account codes with account group as “Asset” or ‘liability’ as selected, and not of control account type except for Bank/Cash/PTT control accounts and not of auto posting account type.
	Bank/Cash/PTT control accounts are retrieved from “Account Rule Definition” business component.
Currency	The account currency of the account code.

Modify the following field:

Note: The exchange rate type must be set for the asset account and the liability account in the “Set Function Defaults” activity of this business component..

Exchange Rate

The exchange rate of the account currency with respect to the base currency of the company (Alphanumeric, 8). Mandatory. The “Exchange Rate” must have been defined in the “Create Exchange Rate” activity of the “Exchange Rate” business component. The exchange rate as defined for the exchange rate type set is defaulted in the revaluation information, however, the exchange rate can be modified and must be within the tolerance limit.

The system displays the following:

Balance In Account Currency	The balance amount in the account currency of the account.
Balance In Base Currency	The balance amount in the base currency of the account code.

Note: The following three fields are displayed on computing the balance.

Revalued Balance In Base Currency	The balance in the base currency after revaluation of the currency. The system calculates the revalued balance in base currency as Balance in Account Currency * Exchange Rate.
Exchange Gain/Loss In Base Currency	The profit or loss in base currency after translation. The system displays the balance in base currency after revaluation due to exchange rate variance. The system displays the difference between the revalued balance in base currency and the balance in base currency.
Exchange Gain/Loss In %	The exchange gain or loss in percentage after computation. The system calculates the exchange gain or loss as follows:
	Exchange gain/loss in % = (exchange gain/loss in base currency / balance in base currency) * 100.

Enter the following fields:

Cost Center	The cost center to which the entries must be posted (Alphanumeric, 10). Data entry in this field is mandatory if the account code has been mapped to a cost center in the “Cost Setup” business component.
	Help facility available.
Analysis #	The analysis code to which the selected account is mapped in the "Assign Analysis Code" activity of the "Account Based Budgeting" business component (Alphanumeric, 5).
	Help facility available.
Sub Analysis #	The sub-analysis code, which is mapped to the analysis code in the "Assign Sub Analysis Code" activity of the "Account Based Budgeting" business component (Alphanumeric, 5).

The system displays the following:

Balance In parallel Base Currency	The balance amount in the parallel base currency of the account code.
Revalued Balance In Parallel Base Currency	The balance in the parallel base currency after revaluation of the currency. The system calculates the revalued balance in parallel base currency as Balance in Account Currency * Exchange Rate.
Exchange Gain/Loss In Parallel Base Currency	The profit or loss in parallel base currency after reinstatement. The system displays the balance in parallel base currency after revaluation due to exchange rate variance. The system displays the difference between the revalued balance in base currency and the balance in base currency.
Exchange Gain/Loss In %	The exchange gain or loss in percentage after computation. The system calculates the exchange gain or loss as follows:
	Exchange gain/loss in % = (exchange gain/loss in parallel base currency / balance in parallel base currency) * 100.
Account Description	The description pertaining to the account code.

Check the box in the “Select” column of the multiline to mark the account code.

Note: At least one row in the multiline must be marked for computing the balance.

The system revalues the balance in account currency to base currency at the exchange rate specified.

The system computes the exchange gain or loss in base currency on amount basis and on percentage basis.

The system revalues the balance in Parallel base currency, revalued exchange gain/loss in parallel base currency and exchange gain/loss in percentage.

The system calculates the following and displays in the multiline:

Balance in Base Currency	The total of the balance in base currency for all the selected accounts in the multiline.
Revalued Balance in Base Currency	The total of the revalued balance in base currency for all the selected accounts in the multiline.
Exchange Gain/Loss In Base Currency	The total of the exchange gain/loss in base currency for all the selected accounts in the multiline.
Balance in Parallel Base Currency	The total of the balance in parallel base currency for all the selected accounts in the multiline.
Revalued Balance in Parallel Base Currency	The total of the revalued balance in parallel base currency for all the selected accounts in the multiline.
Exchange Gain/Loss In Parallel Base Currency	The total of the exchange gain/loss in parallel base currency for all the selected accounts in the multiline.

Click the “Run Revaluation” pushbutton to run the Account balance revaluation.

The system generates a unique voucher number, if the numbering type is not set to “Manual” and posts revaluation entry in the finance book.

The system updates the status of the voucher to “Authorized”.

The system updates the status of the account code to “Revalued” for the revaluation period for which the revaluation entry has been passed.

The system automatically passes a reversal entry for the voucher generated, on the first day of the succeeding financial period and generates a unique reversal voucher number.

Note: If the Set Option “Reversal of Currency Revaluation for Account Balances” of the “Set Process Parameters” of the “OU Parameter Setup” is set as “0” for the predefined usages “Account Currency Revaluation Gain/Loss [ACCRREVGN/ ACCRREVLS]” then on click of 'Run Revaluation', the difference related to account balance will be posted to Account Currency Revaluation Gain/Loss [ACCRREVGN/ ACCRREVLS] irrespective of Permanent / Temporary revaluation and reversal voucher # will get generated automatically on first of next month.

If the Set Option “Reversal of Currency Revaluation for Account Balances” of the “Set Process Parameters” of the “OU Parameter Setup” is set as “1” for the predefined usages “Account Currency Revaluation Gain/Loss [ACCRREVGN/ ACCRREVLS]” then on click of 'Run Revaluation', the difference related to account balance will be posted to Account Currency Revaluation Gain/Loss [ACCRREVGN/ ACCRREVLS] irrespective of Permanent / Temporary revaluation and reversal voucher # will not get generated.

The system updates the login ID of the user to the created by and the system date to the created date.

The system computes and displays the value in base currency.

The system computes and displays the value in parallel base currency.

The system computes the total and displays the same in the multiline.

The system displays the following:

Created By	The login ID of the user who revalued the Account balance adjustment.
Created Date	The date on which the account balances adjustment was revalued.

To proceed, carry out the following

Select the “Accounting Information” link at the bottom of the page to view the accounting information details.
Select the “Attach Notes” link at the bottom of the page to attach notes.

Run account balance revaluation – An overview

You can also revalue the account balance used for simulating the account balance revaluation. The Account revaluation is done for a specific finance book, currency, and financial period. The financial period is always the open financial periods. Once a revaluation has been run in an open financial period, revaluation cannot be run for any prior open financial periods in the financial year. This page automatically reverses the entry passed during revaluation period in the next open financial period.

This page allows you to enter a unique voucher number or allow the system to generate a unique number by specifying the numbering type. You can specify the code identifying the finance book in which the accounting entries are to be posted and a comment pertaining to generating the voucher. You can specify the unique number for the reversal voucher or the system will automatically generate a number based on the numbering type specified. You can retrieve the account information by carrying out the search using the code identifying the account, the account currency of the account code, the period in which the account balances are to be revalued and the number identifying the simulation run.

The system retrieves accounts codes of selected account group, which are not of Control account type except for Bank/Cash/PTT control accounts and of auto posting account type. The system retrieves the account code along with their currency. The system default the exchange rate depending upon the exchange rate type set in “Set Function defaults” activity for the account group selected. You can also modify the exchange rate within the tolerance limit before revaluation. The system computes the revalued balances in base currency and the parallel base currency as well. This page also allows you to capture the analysis and the sub-analysis code for the account. This page also allows you to capture the cost center for the account.

The system updates the status of the revaluation voucher and reversal voucher also to “Authorized” on running revaluation. The system automatically reverse the entries passed during the revaluation period, in the next open financial period. The system generates the number identifying the voucher and the reversal voucher. The system updates the login ID of the user to the created by and the system date to the created date.

Prerequisites

“Finance Book” must have been defined in the “Create Finance Book” of the “Organization Setup” business component.
“Numbering Type” must have been defined in the “Create Numbering Class” of the “Document Numbering Class” business component.
“Currency” must have been defined in the “Create Currency and Country” of the “Organization Setup” business component.
“Exchange Rate” must have been defined in the “Create Exchange Rate” of the “Exchange Rate” business component.
“Account #” must have been defined in the “Create Operative Chart of Account” of “Accounting Setup” business component.
“Account #” must have been mapped to the Finance book in the “Attach/Detach Operative Chart of Accounts – Finance Book” in “Accounting Setup” business component.
“Financial Year” and “Financial Period” must be defined in the “Create Calendar” activity of the “Accounting Setup” business component.