Adjust/Revalue Subtask
Use this subtask to adjust or revalue transaction-level balances for the selected cash account.
Adjustment transactions (debits and credits) and transaction-level revaluations are performed on individual bank transactions displayed in the Bank Transactions table window.
Period to Post
| Field | Description |
|---|---|
| Period | Enter, or click  to select, a period. |
| Subperiod | Enter, or click to select, a subperiod. |
| Ending Date | The ending date displays in this field. |
Operation Choice
| Field | Description |
|---|---|
| Adjustment - Debit | Select this option to increase the bank account balance; interest earned is added here. This adjustment is converted to your company's functional currency. A journal entry to keep the functional and bank account currencies in balance is automatically generated. |
| Adjustment - Credit | Select this option to decrease the bank account balance; service charges paid are subtracted here. This type of adjustment is converted to your company's functional currency. A journal entry to keep the functional and bank account currencies in balance is automatically generated. The journal entry uses the exchange rate that you select on the Exchange Rates subtask. |
| Revaluation | Select this option to revalue the bank amount to your company's functional currency using the rate defined in the Exchange Rates subtask. Costpoint calculates revaluation based on the ending balance of the selected cash account for the specified period. The ending balance includes the beginning balance plus all transactions within the period. Revaluation is performed on the total balance of the selected cash account and is not based on individual transactions. Costpoint compares the functional currency value of this ending balance using the current exchange rate to the existing functional currency value. The variance between the amounts is recorded as a journal entry:
For example, if the revaluation increases the functional currency value of a cash account by 50.00, Costpoint posts +50.00 to the cash account and –50.00 to the revaluation account. |
Account Information
The Account/Organization/REF 1/REF 2 combination in this group box varies depending on the Operation Choice you selected.
For an Adjustment - Debit operation, you must enter the Credit Adjustment and Debit Cash Account/Organization/REF 1/REF 2 combination. For an Adjustment - Credit operation, you must enter the Debit Adjustment and Credit Cash Account/Organization/REF 1/REF 2 combination. For a Revaluation operation, you must enter the Revaluation and Cash Account/Organization/REF 1/REF 2 combination.
| Field | Description |
|---|---|
| Account | Enter, or click to select, the debit/credit adjustment, revaluation, or debit/credit cash accounts for this transaction. |
| Organization | Enter, or click to select, the debit/credit adjustment, revaluation, or debit/credit cash account organizations for this transaction. |
| REF 1 | Enter, or click to select, a reference 1 for the debit/credit adjustment, revaluation, or debit/credit cash account for this transaction. |
| REF 2 | Enter, or click to select, a reference 2 for the debit/credit adjustment, revaluation, or debit/credit cash account for this transaction. |
| Date | Enter the date for this transaction. |
| Description | Enter a description for this transaction. |
Adjustments
| Field | Description |
|---|---|
| Amount | Enter the amount of the adjustment in this field. |
| Bank Amount | This non-editable field displays the adjustment in the foreign currency. |
| Functional Amount | This non-editable field displays the adjustment in your company's functional currency. |
| Adjust | Click this button to create a journal entry and journal entry number. |
Subtask
| Subtask | Description |
|---|---|
| Exchange Rates | Click this link to open the Exchange Rates subtask. |
Related Topics:
Use this subtask to add, edit, and/or view exchange rate information.