Multi Currency Revaluation Option

We have a cash account in Canada. The amount is reflected properly in
our system in Canadian dollars. We changed the exchange rate at the
beginning of the year. We would like to reflect this change on my
beginning balances for the year 2005. When I try to run the revaluation
for finance series for this account, it doesn't update the beginning
balances. How do i update my beginning balances in functional currency?

0
rrs1977 (140)
4/17/2005 3:54:13 PM
greatplains 29623 articles. 3 followers. Follow

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Try running a revalue for the last period of the prior 
year.  Don't post it, just print to make sure it is doing 
what you want.  (You may need to open up the fiscal 
period).  Depending on how long the account has been 
open, you may want to revalue it from inception - 
unrealized reversing the next month.  This will show the 
revalued amount each month correctly - if you don't 
reverse, and if the rate fluctuates, the account get's 
way out of whack quickly.  

We produce a multicurrency trial balance on FRx that 
calculates the exchange rate so we can see if everything 
appears to be in-line.  (Our users get confused on 
originating/functional accounting and sometimes post 
things wrong.)


>-----Original Message-----
>We have a cash account in Canada. The amount is 
reflected properly in
>our system in Canadian dollars. We changed the exchange 
rate at the
>beginning of the year. We would like to reflect this 
change on my
>beginning balances for the year 2005. When I try to run 
the revaluation
>for finance series for this account, it doesn't update 
the beginning
>balances. How do i update my beginning balances in 
functional currency?
>
>.
>
0
anonymous (74725)
4/18/2005 4:50:18 PM
Reply:

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