Run the Gains/Losses and Revaluations Process

If you use the Multicurrency feature, you can set up Vision to calculate and post currency exchange gains and losses in accordance with your firm's accounting practices.

Vision automatically posts realized gains and losses from foreign currency transactions when you settle the transactions.

If you have multiple periods open in Vision, you should run the Gains/Losses and Revaluations process for an earlier period before you post a cash receipt transaction file or start a payment processing run in a later period. If you do not do this and the cash receipt posting or payment processing is done on a foreign currency transaction in a later period, the gains/losses and revaluations for the earlier period will not be calculated correctly.

To run the Gains/Losses and Revaluations process, complete the following steps:

1. From the Vision Navigation menu, click Accounting > Gains/Losses and Revaluations.
2. In Translation Date on the Gains/Losses and Revaluations form, enter the date or click and select the date. This is the date as of which you want to revalue foreign currency transactions and foreign-denominated account balances. Vision selects the currency exchange rates that are in effect on this date and uses those rates to calculate gains and losses.
3. Click Run. Vision displays a message that asks if you are sure you want to proceed.
4. Click Yes to continue or click No to cancel the process.

Use the Gains/Losses and Revaluations Detail report to review and audit the gains and losses resulting from the Gains/Losses and Revaluations process.