Hello,
I am trying to revalue some foreign currency accounts on my balance sheet for Q3. I am new to GP and am taking over from someone who did a real botch job of setting up the G/L. In the revalation module, I have the correct spot rate for the date of my financial statements but when I look in the GL and FrX after running revaluation, the accounts are translated at some sort of average rate (instead of the period end rate).
I have been all through the help menus of GP relating to foreign currency and can't find anything. Am at a loss. This should not be this difficult to set up!
Can someone please suggest an easy way that I can check the set-up of these accounts so that GP picks up the right rate?
In addition, after I ran the revaluation for the first time, I posted some adjustments. When I revalued the second time, it was not incremental as I expected - it basically double counted the revaluation adjustment. Is there a way to set the system up to revalue automatically so that I always have the right USD balance in my accounts?
Thanks! :)
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