Hi Guys
We need your help please.
Our audit for financial year ending 31 Oct 2024 is underway and we've received an audit query regarding exchange rate for Customer Balances at 31 Oct 2024.
The outstanding balance for certain Debtors wasn't calculated at the exchange rate of 31 Oct 2024. Wie did an investigation for us and determined that some of the invoices that were paid, regardless of the period it was posted in, before the adjustment was processed on the system, was not converted to the exchange rate on 31 Oct 2024. All open invoices, regardless of the period it was posted in, was converted to the exchange rate on 31 Oct 2024.
Historically we always ran the Adjust Exchange Rate process with a start date of the relevant month for which we did the adjustment. For example for Oct 2024 we would input a starting date of 1 Oct 2024 and ending date of 31 Oct 2024. We normally ran this job about a month after the actual end of the period ( for example at the end of Nov it was processed for 31 Oct 2024). We created a Sandbox environment (Sandbox_15Jan2025) and reran the Adjust Exchange Rate process using a blank starting date and ending date of 31 Oct 2024 using a posting date of 31 Oct 2024.
Subsequently the Aged Account Receivable in our Sandbox Environment on 31 Oct 2024 correctly reflects all LCY values calculated at the correct exchange rate on 31 Oct 2024 per the system. The additional adjustment revalued all open transactions at 31 Oct 2024 whether paid subsequently or not.
Based on the screenshot above there is no clarity which parameter the start date actually refers to.
Does anyone know what parameters the Starting Date and Ending Date of the Adjust Exchange Rates process takes into account? It is NOT posting date because it revalues transactions posted before the start date that are still open at the Ending Date selected in the Exchange Rate Adjustment screen.
We just want to know because we need to communicate
