Skip to main content

Multicurrency Revaluation for Payable and Receivables Dynamics GP

Revaluations provide the latest value of non-functional-currency-denominated financial instruments in your functional currency. In another words, performing Multi-Currency Revaluation will revalue the outstanding transactions or Balance Sheet item with Current Rate (some they call Closing Rate) to get the Unrealised value. Though, this process does not need to perform routinely, this is up to the customers on which accounting policy they are adopting.

Below example shows how to perform Multi-currency Revaluation for Payables transactions. The way to perform Receivable transaction is same.

Path: MSDGP > Tools > Routine > Financial > Revaluation


i.                   Create option as below. It would be good to name the option according to the module with month.
ii.                 Make sure the Results is "Print Report Only" so that nothing is posted to GL before the entries is confirmed.
iii.        "Calculate Gain/Loss" option is always "Unrealized"

iv.         Set the "Posting Date" and mark the "Reversing Transaction" option. Any Unrealised amount will be posted to the "Posted Date", another reversing entry will be posting to "Reversing Date" simultaneously. 
v.          Next, mark the Currency ID that need to perform revalue. You can select "Enter Rate" from Exchange Table ID to enter the rate for revaluation in case the rate is not maintain in exchange rate table.
vi.         User able to filter which type of Payables to perform revaluation using the [Restrictions] option.

vii.       User can filter Vendor ID or Vendor Class for revaluation.
ix.        User can proceed to perform revaluation by hitting [Revalue] button. A summary report will display the list of outstanding transactions with the unrealised gain/loss result.


x.      To post the unrealised amount to General Ledger, change the <Result> option to "Post", then hit the [Revalue] button to post the account distribution entries.
xi.     GP will pickup the Unrealised Gain/Loss account from the Posting Account Setup.
Labels:
Location: Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia

Comments

Post a Comment

Popular posts from this blog

Reprinting GP Posting Journal after Posting in Dynamics GP

As there is no shortcut to reprint the posting journal from one screen, you need to know the original screen location. Financial and Bank 1. To reprint General Journal entries.      Path: Reports > Financial > Cross-Reference > Select "Journal Entries"             Take note that the document printed from here will include transaction posted from other source too like Payables, Receivables, and Fixed Assets and etc. 2. To reprint Bank Posting Journal/ Bank Recon Reports      Path: Reports > Financial > Bank Posting Journal Sales Order Processing and Receivables 3. To reprint Sales Transaction Entry      Path: Reports > Sales > Posting Journal > Select "Sales Posting Journal" 4. To reprint Receivables Entry      Path: Reports > Sales > Posting Journal > Select "Receivable Posting Journal" 5. To reprint Cash Receipt Entry      Path: Reports > Sal...
Post a Comment
Read more

How to Create Recurring Transaction in Dynamics GP

If you have a handful of journal entries to be created in regular basis, whether for  numerous accruals and reversals,  allocation, or reclassification entries, setting up Recurring Transaction in Dynamics GP will be helpful and speed up your month end process. Step 1 - Setup Recurring Batch Path: Transaction > Financial > Batches  i.    After entering the " Batch ID " and " Comment ", setting up the " Frequency " is the most important part for recurring transaction. " Single Use " is the one we use all the time for single posting, once posted, the batch will remove from Batch ID. But if you set the Frequency to " Monthly ", which means the batch automatically becomes a recurring batch, the batch will be there forever for multiple posting. ii.    There is another useful option here, " Clear Recurring Amounts ", which will clear the amounts in journal entries after the posting. You can then later enter the amount in the j...
1 comment
Read more

GP How to Reconcile Payable/ Receivable Ledger to General Ledger Control Account using "Reconcile to GL"

The “Reconcile to GL” tool helps you find differences between Payables Management (and GL) and Receivables Management (and GL) automatically by coming out a report. The Rule of Thumb, GL balance for the AP Control Account should match up with the total on the Payable Ledger report and the GL balance for the AR Control Account should match the total on the Receivables Ledger report.  "Reconcile to GL" will match each transaction between GL and Sub-ledger based on the setup account and posting date.  Any transactions that don’t match and users have to start digging through detailed transactions to see what went wrong, “Reconcile to GL” can be helpful in this scenario. To perform Payable/Receivable Reconciliation Path: Microsoft Dynamics GP > Tools > Routines > Financial > Reconcile to GL     1.       Type in your date range.     2.       Select “Module”, either Payable Management or Receivable Management. ...
Post a Comment
Read more