Deltek Vantagepoint Help

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Gains and Losses and Cash-basis Accounting

If you use cash-basis accounting, you can set up individual foreign-denominated accounts so that the Gains/Losses and Revaluations process updates their cash-basis balances.

In most cases, companies consider gains and losses from the revaluation of foreign-denominated accounts as unrealized gains and losses, so those gains and losses do not affect cash-basis account balances. However, if you want Vantagepoint to post cash-basis entries for revaluation gains and losses for a foreign-denominated account, you have that option. To do that, select Update Cash Basis during Revaluation for that account in Settings > General Ledger > Chart of Accounts.

If you have a foreign-denominated general ledger account for which Update Cash Basis during Revaluation is selected, the following occurs when you run the Gains/Losses and Revaluations process:

  1. Vantagepoint calculates the account balance in terms of the functional currency, using the exchange rate in effect on the date you specify when you run the process.
  2. Vantagepoint compares the current balance in the functional currency to the previous balance.
  3. If the balance in the functional currency has changed, Vantagepoint posts an entry for the difference as follows:
    • For a gain, Vantagepoint posts to the revaluation gains account for the foreign-denominated account, if you specified one in Settings > General Ledger > Chart of Accounts. If you did not specify a revaluation gains account for the foreign-denominated account, Vantagepoint posts to the realized gains account on the Posting Accounts form (Settings > Accounting > Posting Accounts).
    • For a loss, Vantagepoint posts to the revaluation losses account for the foreign-denominated account, if you specified one in Settings > General Ledger > Chart of Accounts. If you did not specify a revaluation losses account for the foreign-denominated account, Vantagepoint posts to the realized losses account on the Posting Accounts form (Settings > Accounting > Posting Accounts).

The Gains/Losses and Revaluations Detail report does not include these cash-basis entries for revaluation gains and losses for foreign-denominated accounts.