Page 39 - UNANET GOVCON:
CLOSING A FISCAL PERIOD
P. 39
Multi-Currency Revaluation (if applicable)
If Multi-Currency is enabled, the Revaluation process revalues any open balances in a
foreign currency at the current rate and calculates the unrealized gains or losses. The
unrealized gains or losses is calculated as the difference between the original and
current conversion to local currency amounts for each open item. This calculation is
done prior to posting to the general ledger on the last day of the chosen fiscal period.
The Exchange Rates are maintained on the Admin > Setup > Accounting >
Exchange Rates screen. If the rate pairing is not defined on that screen, an error will
be given when running this process.
Accounts Payable Revaluation
Navigate: Financials > General Ledger > Accounts Payable Revaluation
If enabled, the Accounts Payable Revaluation (Multi-Currency) process revalues any
open Vendor Invoices (VI) in a foreign currency at the current rate and calculates the
unrealized gains or losses to be posted to the GL.
The GL impact of the Accounts Payable Revaluation can be viewed by filtering the GL
Details report Document Type to “APR - Accounts Payable Revaluation”.
Accounts Receivable Revaluation
Navigate: Financials > General Ledger > Accounts Receivable Revaluation
If enabled, the Accounts Receivable Revaluation (Multi-Currency) process revalues any
open Customer Invoices (CI) in a foreign currency at the current rate and calculates the
unrealized gains or losses to be posted to the GL.
The GL impact of the Accounts Receivable Revaluation can be viewed by filtering the
GL Details report Document Type to “ARR - Accounts Receivable Revaluation”.
Intercompany Post (if applicable)
Navigate: Financials > General Ledger > Intercompany Post
If enabled, the Intercompany (Multi-Entity) Post process will post the revenue,
expenses, and related Due-From and Due-To transactions from the borrowing and
lending of labor and expenses on projects. This allows intercompany cross posting and
transaction to support sharing resources between business units.
The GL impact of the Intercompany Post can be viewed by filtering the GL Details report
Document Type to “IC – Intercompany Post”.
LESSON 4: GENERAL LEDGER Page 39
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