View this section to learn about the steps for the balance sheet revaluation process.
To perform the balance sheet revaluation at the end of a period:
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Display the Create Revaluation Entry screen.
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In
Period to Revalue, specify the period for which you want to create a revaluation journal entry.
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In
Account, select the balance sheet accounts that you want to include in the revaluation process. (Do not select the equity account that you set up for OCI. Select only the accounts for which you want the process to calculate revaluation entries.)
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In
Balance Sheet Organization, select the organizations that you want to include in the revaluation process.
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In
Rate Group ID, select the rate group that you want Costpoint to use to determine the currency exchange rates that apply.
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Select the
Compute and Print/Post Revaluation option of the
Default Action button on the Global toolbar to start with the revaluation process.
This option generates the Revaluation of Balance Sheet Account report, creates the adjusting journal entry, and posts it to the general ledger.
Alternatively, click
to generate the Revaluation of Balance Sheet Account report so you can preview the results of the revaluation before you actually run the revaluation process. If the results are correct, click
Compute and Print/Post Revaluation to start the process.
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If you encounter any issue during the posting process, the revaluation entries will still be created but will not be posted to the general ledger. You can view the revaluation entries on the Manage Journal Entries screen, and you must manually post them using the Post Journal Entries screen.
Likewise, if the transaction involves a reversal entry, Costpoint creates the reversal entry but does not post it in the general ledger. You can view the reversal entry on the Manage Journal Entries screen, and you must manually post it using the Post Journal Entries screen.
For more information on running the revaluation process, see Create Revaluation Entry.