Compute/Post Unrealized Gains/Losses
Use the Compute/Post Unrealized Gains/Losses screen to determine your company's unrealized gains or losses and post them to the general ledger.
This screen compares the exchange rate used when the voucher or invoice was entered to the current daily exchange rate. You can also use this screen to reverse any accidental or incorrect postings of unrealized gains or losses.
When you first select the Print and Compute/Post Unrealized Gains/Losses option on the Action menu, Costpoint displays a message warning you that posting should be done only once as part of the period closing process. If you continue, Costpoint calculates the gain or loss for the current period and then posts that gain or loss in summary format to the current month. If you post a second time, Costpoint reverses the prior period entry and creates a new entry to be posted.
You must first run the Update Open Accounts Payable Exchange Rates or Update Open Accounts Receivable Exchange Rates processes before running this process. If you do not, Costpoint does not have an updated rate to compare to the historical rate and cannot accurately calculate unrealized gains or losses.
You should run this process at the end of the accounting period to measure accurately the gains and losses on foreign exchange. Before running this process, verify that no vouchers are on Pay status. Vouchers with that status are not included in this calculation. Also, ensure that you have completed and posted to the general ledger all of the vouchers, checks, billings, and cash receipts postings for a period before running this process for that period.
Multiple users can print or preview the Unrealized Gains/Losses Report at the same time. However, the multi-user functionality does not allow the use of the same user ID to simultaneously print or preview the Unrealized Gains/Losses Report on different workstations.
The posting process is a single-user functionality; however, the posting can be submitted by multiple users simultaneously. Costpoint queues the posting/commitment transactions and processes them one at a time.