CREATE REVALUATION ENTRY

Use this screen to revalue balance sheet accounts in order to recognize realized and unrealized gains and losses.

By having the ability to recognize currency gains and losses, you will:

• Be able to identify "Translation Adjustments" in "Other Comprehensive Income" when preparing financial statements.

• Be in compliance with GAAP (Generally Accepted Accounting Principles) regarding the disclosure of comprehensive income.

Costpoint gives you the option of either including OCI (Other Comprehensive Income) as an additional section on the regular Income Statement or creating a Separate Statement of CI (Separate Statement of Comprehensive Income.)

Use this screen whenever you need to revalue balance sheet accounts in order to recognize realized and unrealized gains and losses.

Period to Revalue

Use the fields in this group box to specify the fiscal year, period, and subperiod that you wish to revalue.

Fiscal Year

Enter, or use the drop-down box to select the fiscal year for which you want the system to create the revaluation entry.

Period

Enter, or use the drop-down box to select the period for which you want the system to create the revaluation entry.

Note:  The criteria for revaluation selection is a year-to-date process; thus, this will include data recorded up to and including the period you select in the screen. Along with the revaluation entry created, a journal entry reversing the revaluation entry will also be created. If you choose to post the revaluation entry, you must also post the reversal.

Subperiod

This non-editable field displays the last subperiod number based on the fiscal year and period you entered.

Ending Date

This non-editable field displays the subperiod ending date.

Account

Use the fields in this group box to specify the balance sheet accounts that you wish to revalue.

Range Option

Enter, or use the drop-down box to select, the range of accounts to revalue. The system-defined options are "All," "One," "Range," "From Beginning," and "To End."

From

Enter, or use Lookup to select, the starting account. If you selected "All" or "From Beginning" in the Range Option field, this field will be inactive.

To

Enter, or use Lookup to select, the ending account. If you selected "All," "One," or "To End" in the Range Option field, this field will be inactive.

Balance Sheet Organization

Use the fields in this group box to specify the balance sheet organizations that you wish to revalue.

Range Option

Enter, or use the drop-down box to select, the range of organizations to revalue. The system-defined options are "All," "One," "Range," "From Beginning," and "To End."

From

Enter, or use Lookup to select, the starting organization. If you selected "All" or "From Beginning" in the Range Option field, this field will be inactive.

To

Enter, or use Lookup to select, the ending organization. If you selected "All," "One," or "To End" in the Range Option field, this field will be inactive.

Rate Group

Enter, or use Lookup to select, the rate group. Rate groups use rate information from only one source.

Table Information

Changes to this screen update the JE_HDR (Journal Entry Header) and the JE_TRN (Journal Entry Transaction) tables.