RE: GL Accounts used during Revaluation
Thanks for the update. To add some additional detail to the question. I setup the GL accounts in the windows you mentioned. I have the Purchasing Offset GL account as 2500-00 and my Gain / Loss Accounts as 6000-00.
I entered a Payables Transaction for $100 with an exchange rate of 1.00 on Jan 15 and posted it using GL account 2000-00 for the Payables credit amount.
I then went through the Purchasing Revaluation process and used an exchange rate of 1.15 on Jan 31. The GL posting batch debited the 6000-00 for $15 and credited the 2000-00 for $15.
Does the Purchasing Revaluation look at the payables account of each invoice to determine which account to offset the gain / loss entry? In my testing, it appears to use the invoice AP account, not the Purchasing Offset account from the setup windows.
Thanks - Ron