Finance | Project Operations, Human Resources, ...

GL Accounts used during Revaluation

(0) Share

Report

Posted on by Ron Alexander

193

If I'm using the Purchasing Series revaluation (Tools - Routines - Financial - Revaluation) process, where is GP pulling the GL accounts from when creating the GL posting batch? I'm selecting Unrealized Gain/Loss and creating a reversing entry.

Thanks - Ron

Categories:

Microsoft Dynamics GP

All responses (2)

Answers (0)

Ron Alexander 193 on at

Like (0)

Report

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
Suggested answer

Deseree Krumm on at

Like (0)

Report

RE: GL Accounts used during Revaluation

Hello Ron! There are a couple different places to look for what these accounts will be. They will either be on the Currency Setup(Administration >> Setup >> System >> Currency) or on the Rate Types (Financial >> Setup >> Financial >> Rate Types). Let us know if you need anything else.