Costpoint Online Help

Using the Help Search
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Revaluation Settlement (Opt-in Available)

Use this screen to enter, view, manage, and post settlement journal entries for multicurrency transactions that have been paid in foreign currency but have remaining amounts in functional currency that result from exchange rate fluctuations and balance sheet revaluation processes.

You must select available foreign currency transactions that offset each other and have a net balance of zero (0) when totaled and add them to the Settlement Journal. Once you add offsetting transactions to the journal, any remaining amount in functional currency will be posted to your realized gains or loss account as a final settlement entry and will no longer be included in the calculation when you run a balance sheet revaluation process in the future.

You can also reverse posted settlement entries on this screen.

Note:

The feature for reversing posted settlement entries is currently under development and will be available in a future Costpoint release.

You can create settlement entries any time, but you can post them only if there are no unposted balance sheet revaluation entries.

You can print the Settlement Journal and Settlement Detail report and post the settlement journal entry in one action by selecting Print and Post Settlement Journal on the drop-down list, or only view or print the journal and the detail report without running the posting process by clicking or on the Global Toolbar.

Note: For Costpoint Cloud, you can choose to opt in to this feature for the Costpoint 8.2.12 release. The ability to opt in is temporary and will be removed when the feature becomes automatically enabled for all users as part of a future Costpoint release. See the Manage Opt-In Features topic for more information.