Deltek Vantagepoint Help

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Set Up Accounting Company Gains and Losses

If your enterprise uses multiple currencies, you set up default general ledger accounts and projects for realized and unrealized gains and losses.

The Gains, Losses and Revaluations grid fields of the Posting Accounts settings form apply when you post realized and unrealized gains and losses and you do either of the following:
  • Process payments or post cash receipts for foreign currency accounts payable or accounts receivable transactions.
  • Run the Gains/Losses and Revaluation process, which calculates gains and losses for unpaid foreign-currency accounts payable and accounts receivable transactions and for foreign-denominated general ledger accounts.

If you use multiple companies, only the accounts and projects that belong to the active company are available for selection.

To set up gains and losses accounts and projects:

  1. In the Navigation pane, select Settings > Accounting > Posting Accounts.
  2. In the Gains, Losses, and Revaluations grid, select a balance sheet or income statement account to which realized and unrealized gains and losses will be posted.
  3. For each row, enter or select the project to which you want realized and unrealized gain and loss entries posted.
    The charge type of the project (regular, overhead, or promotional) must match the account type.
    • Indirect accounts require an overhead or promotional project.
    • Revenue accounts require a regular project.
    • Balance sheet or below-the-line accounts can have a regular, overhead, or promotional project.

    If you use organizations, the project that you specify here also determines the organization whose financial statements are affected by gains or losses.

    You must enter a project in the Project field if both of the following are true:

    • You do not maintain separate balance sheets for each organization (the Maintain Separate Balance Sheets by Organization option is not selected in Settings > Organization > General, in the desktop application.
    • The account that is entered in the Account field is an income statement account.

    If you maintain separate balance sheets for each organization, you must enter a project for each organization on the Gains and Losses tab in Settings > Organization > Individual in the desktop application, regardless of the type of account entered on this tab.

  4. If a project has phases and tasks, enter or select the phase or task to which you want realized and unrealized gain and loss entries posted for the account that you entered in this row.
  5. Click Save.