Adjust Exchange Rates

According to Romanian regulations it is necessary to register monthly the exchange rate revaluation. Posted GL notes should comply with Romanian accounting regulations. For complying with Romanian regulations, the standard report was improved, and the result is a new report. The improvements represent:

  • Correction on GL notes posted in accountancy, in order to have correct amounts on debit / credit.
  • Register revaluation for each bank account.
  • The report can be run in test mode.

In order to calculate Exchange rate revaluation, check first if the “Adjustment Exchange Rate Amount” and “Relational Adjustment Exchange Rate amount” are filled in for the currency code for which you want to calculate revaluation. For testing this report, you need to launch the report from Arggo Localization >Periodic reports > Adjust Exchange Rates.

You can run the report using the following filters: Option section:

  • Starting date: specifies the beginning of the period for which entries are adjusted. We recommend to leave this field blank, otherwise it will limit the adjustment only for documents with posting date after this date.
  • Ending date: Specifies the last date for which entries are adjusted. This date is usually the last day of the month and is the same as the posting date in the Posting Date field. The system checks if the “Adjustment Exchange Rate Amount” and “Relational Adjustment Exchange Rate amount” are filled in for this date when the report is run.
  • Posting description: the report will generate a description that includes currency code and the value that is revaluated. If you modify description when run the report, that description will be used for all generated transactions.
  • Document no.: Specifies the document number that will appear on the general ledger entries that are created by the batch job.
  • Adjust bank accounts: Mark the field if you want to adjust bank accounts.
  • Adjust customers: Mark the field if you want to adjust customers.
  • Adjust vendors: Mark the field if you want to adjust vendors.
  • Adjust G/L Accounts for Add.Reporting Currency: you should mark the field only if there is setup an additional currency on the company, and only if you want system adjust also additional currency amounts.
  • Test mode: It is set as default. It allows you to check the values calculated before posting transactions. For posting the exchange rate adjustment you have to unmark the field.
  • Customer Posting Group: can be used for run the monthly revaluation for different posting groups if it is necessary.
  • Vendor Posting Group: can be used for run the monthly revaluation for different posting groups if it is necessary.
  • Bank Account Posting Group: can be used for run the monthly revaluation for different posting groups if it is necessary.

Currency section:

  • You can run the report without filter it on currency code; in this case all the currency will be included within revaluation transaction.
  • You can filter the report on one / more currencies, by selecting them from the currencies list.
  • You can exclude one currency from revaluation when put the filters.

Bank account section:

  • User can run the report without filter it on bank accounts; in this case all bank accounts will be included within revaluation transaction.
  • The report can be filter on one / more bank accounts, by selecting them from the available list.
  • You can exclude one bank account from revaluation when put the filters.
  • You can add filters on Bank account posting groups.

Customer section:

  • User can run the report without filter it on customers; in this case all customers card will be included within revaluation transaction.
  • The report can be filter on one / more customer’s card, by selecting them from the available list.
  • You can exclude one customer card from revaluation when put the filters.
  • You can add filters for Customer posting group.

Vendor section:

  • User can run the report without filter it on vendors; in this case all vendors card will be included within revaluation transaction.
  • The report can filter the report on one / more vendors by selecting them from the available list.
  • You can exclude one vendor card from revaluation when put the filters.
  • You can add filters for Vendor posting group.

The system will post the calculated exchange rate differences, without move them first through a temporary journal. In order to check the posted G/L entries, it is necessary to search in G/L Registers the last transaction that was recorded for the source code "EXCHRATADJ". Once you've identified the registry, you can check the values for the posted entries by accessing the following registers from Process > General Ledger > Actions > Navigate:

  • Detailed customer ledger entries,
  • Detailed vendor ledger entries,
  • Bank account ledger entries.