Reverse Foreign Currency Revaluation

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Posted on by nyt963

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Hi,

I performed a foreign currency revaluation using the form in the General Ledger and re-valuated all balance sheet accounts for the month of January 2014.

The revaluation was performed and my vendor and customer control accounts have been re-valuated, but not the corresponding customer and vendor subledger accounts.

I now realised that I should've used the foreign currency revaluation form in the Accounts payable and receivable modules.

Is there any way of reversing the foreign currency revaluation that was performed on the GL accounts so that I can rerun the revaluation through Accounts Payable and Receivable?

Thank You

Sean

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Javirrubio 965 on at

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Hi Sean, I'm afraid there's no a specific process to do this. So far, I think you can identify all transactions created (filtering by transaction type and date), and then manually post a Journal to reverse it.

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ZvikaR 168 on at

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For the future, note that you MUST NOT use the GL revaluation into order to revalue ledger accounts attached to the AP and AR module.

To revalue AP/AR accounts you must run revaluation from the AP and AR modules respectively.

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Sachin Ahuja 360 on at

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IF possible,

You can change the exchange rate on master and then run the Exchange adjustment from GL.

It will nullify the effect of previous exchange adjustment.

Now update the correct rate on which you want to perform the exchange adjustment on AR, AP & GL as required.

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psidoun 20 on at

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Just to clarify

if I re-run a exchange rate revaluation on Account receivable on same perimeter like period and transactions, it will reverse previous entries with previous exchange rate and re-generates new ones with new exchange rate, is this statement OK?

Second point is regarding transactions made prior to second revaluation process that might impact GL.

As an example if I posted a payment in foreign currency before the second treatement, realized and unrealized won't be accurate, will they? only next revaluation will adjust with proper value.

Thanks in advance for your input

Best regards

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Community Member on at

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HI

I just wanted to know what happen to the unrealized gain/loss account balance if we run the financial year closing, because when we close the year all P/L account becomes zero and balance is transferred to retain earning. how would system cancel the previous revalued unrealized transaction of previous closed year at the time of invoice settlement/payment in the next financial year.

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Hi Sean,

Can you advice me on how did you reverse the revaluation?

Thanks,

RJay

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Community Member on at

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Sachin,

can you elaborate a little more on how to do it? I do have access to master exchange rate.

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nyt963 270 on at

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Hi RJay,

This was a long time ago and unfortunately I cannot recall exactly how we did it. I know that a developer wrote a job for me that created the reversal journal, but I am not sure exactly how he did it.

Sorry that I cannot be of more assistance.

Sean

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Community Member on at

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Hi All,

Finally, i have figured out the code part that need to be modified to reverse these foreign currency transactions. Please reach out if you need any specifics on this.

Thanks,

RJay

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Hello RJay,

I have a question regarding the code modification for AX 2012.

Does it make GL foreign currency revaluation work like AP/AR revaulataion, which the system is automatically reversed all the previous unsettled unrealized transactions and record the new ones with new rate at the current month.

Or you need to reverse it next month manually?

Thank you.

Asagi

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