Gains and Losses Tab of Accounting Company Settings

Use the Gains and Losses tab to set up default general ledger accounts and projects for realized and unrealized gains and losses.

This tab displays only if you use the Multicurrency feature. Companies that conduct business in more than one currency can have financial gains or losses due to changes in currency exchange rates.

You can set up two separate sets of realized and unrealized gains and losses accounts that are used in different areas of Vision. One set is used when you process payments or post cash receipts for foreign currency accounts payable or accounts receivable transactions and when you run the Gains/Losses and Revaluations process. The other set is used when you run the Revenue Generation process.

Contents

Gains, Losses and Revaluations Section — Realized and Unrealized Gain and Loss Fields:

These fields apply when Vision calculates and posts realized and unrealized gains and losses when 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.

Field	Description
Account	Click in each of the Realized and Unrealized Gain and Loss Account fields, and select the account to which you want realized and unrealized gains and losses posted. You can select either balance sheet accounts or income statement accounts. Multicompany If you use the Multicompany feature, only those accounts that belong to the active company display in Account Lookup list. Realized Gains and Losses Vision calculates and posts realized gains and losses to the corresponding realized gain or loss account when you process payments or post cash receipts for foreign currency accounts payable or accounts receivable transactions. Unrealized Gains and Losses Vision calculates and posts unrealized gains and losses to the corresponding unrealized gain or loss account when you run the Gains/Losses and Revaluation process. The Gains/Losses and Revaluation process calculates gains and losses for: Foreign-currency accounts payable and accounts receivable transactions that are unpaid. Foreign-denominated general ledger accounts. Account Hierarchy If you enter an account in the Revaluation Gain > Account field, the Revaluation Loss Account field, or both fields on the General tab of Chart of Accounts in the Accounts Info Center for foreign-denominated general ledger accounts, then unrealized gains and losses post to those accounts during the Gains/Losses and Revaluation process instead of posting to the unrealized gain and loss account entered in Accounting Company Settings.
Project	Click in each of the Realized and Unrealized Gain and Loss Project fields, and select the project (work breakdown structure) to which you want realized and unrealized gain and loss entries posted for the general ledger account that you entered in this row. Multicompany If you use the Multicompany feature, only projects that belong to the active company display in the Project Lookup list. Charge Type The charge type of the project (regular, overhead, or promotional) must match the account’s 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. Organizations If you use organizations in Vision, the project that you enter here also determines which organization's financial statement is affected by gains or losses entries for that account. If You Do Not Maintain Separate Balance Sheets for Organizations You must enter a project in the Project field if both of the following are true: You do not maintain separate balance sheets (the Maintain separate balance sheets by Organization check box is not selected on the Organization General Setup form in Configuration > Organization > General) The account that is entered in the Account field on this tab is an income statement account. If You Maintain Separate Balance Sheets for Organizations If you maintain separate balance sheets (the Maintain separate balance sheets by Organization check box is selected on the Organization General Setup form in Configuration > Organization > General): You must enter a project for each organization on the Gains and Losses tab on the Individual Organization Setup form in Configuration > Organization > Individual regardless of the type of account entered on this tab.
Phase	If a project has phases, click in each of the Realized and Unrealized Gain and Loss Phase fields, and select the phase to which you want realized and unrealized gain and loss entries posted for the general ledger account that you entered in this row. The information about organizations and separate balance sheets that is included in the Project field description above also applies for phases.
Task	If a phase has tasks, click in each of the Realized and Unrealized Gain and Loss Task fields, and select the task to which you want realized and unrealized gain and loss entries posted for the general ledger account that you entered in this row. The information about organizations and separate balance sheets that is included in the Project field description above also applies for phases.

Unbilled Services Gains and Losses Section – Realized and Unrealized Gains and Loss Fields

These fields apply for realized and unrealized gains and losses for unbilled services that are created when you run the Revenue Generation process. These fields are enabled only if Revenue Generation is enabled.

Field	Description
Account	Click in each of the Realized and Unrealized Gain and Loss Account fields, and select the account to which you want realized and unrealized gains and losses posted when you run Revenue Generation. You can select either balance sheet accounts or income statement accounts. Vision calculates and posts unrealized gains and losses to the corresponding gain or loss account when you run the Gains/Losses and Revaluation process. If you use the Multicompany feature, only accounts that belong to the active company display in the Account Lookup list.
Project	Click in each of the Realized and Unrealized Gain and Loss Project fields, and select the project (work breakdown structure) to which you want realized and unrealized gains and losses posted for the general ledger account that you entered in this row. If you use the Multicompany feature, only projects that belong to the active company display in Project Lookup list. Charge Type The charge type of the project (regular, overhead, or promotional) must match the account’s account type. Indirect accounts require an overhead or promotional project. Revenue accounts require a regular project that has a revenue method N (no revenue recognized). In addition, the billing and project currency must match the currency of the company that is being configured. Balance sheet or below-the-line accounts can have a regular, overhead, or promotional project. Organizations If you use organizations in Vision, the project that you enter here also determines which organization's financial statement is affected by gains or losses entries for that account. If You Do Not Maintain Separate Balance Sheets for Organizations You must enter a project in the Project field if both of the following are true: You do not maintain separate balance sheets (the Maintain separate balance sheets by Organization check box is not selected on the Organization General Setup form in Configuration Organization General) The account that is entered in the Account field on this tab is an income statement account. If You Maintain Separate Balance Sheets for Organizations If you maintain separate balance sheets (the Maintain separate balance sheets by Organization check box on the Organization General Setup form in Configuration Organization General is selected), you must enter the projects for each organization on the Gains and Losses tab on the Individual Organization Setup form in Configuration Organization Individual regardless of the type of account entered.
Phase	If a project has phases, click in each of the Realized and Unrealized Gain and Loss Phase fields, and select the phase to which you want realized and unrealized gains and losses posted for the general ledger account that you entered in this row.
Task	If a phase has tasks, click in each of the Realized and Unrealized Gain and Loss Task fields, and select the task to which you want realized and unrealized gains and losses posted for the general ledger account that you entered in this row.