Deltek Vantagepoint Help

Using the Help Search
Using the Help Search
  • Phrase:Returns all topics that contain the exact phrase in the search criteria. Use quotation marks around the phrase.
    Ex."system administration"
  • And:Returns all topics that contain all the words in the search criteria, in any combination. Insert a plus sign between all words in the search criteria.
    Ex.system + administration
  • Or:Returns all topics with any combination of words in the search criteria. This is the default.
    Ex.system administration
For more information:Searching Online Help

Gains and Losses from Revaluation of Foreign-Denominated GL Accounts

Foreign-denominated accounts have a currency other than your company's functional currency. The revaluation process may result in gains and losses for foreign-denominated accounts.

The balance of foreign-denominated accounts as expressed in your company’s functional currency fluctuates as the exchange rate changes. Vantagepoint calculates the gains or losses for these accounts when you run the Gains/Losses and Revaluations process.

In Settings > General Ledger > Chart of Accounts, you can also specify gains and losses accounts for individual foreign-denominated accounts. If you do, Vantagepoint posts any gains or losses that result from the Gains/Losses and Revaluations process to those accounts rather than to the default unrealized gains and losses accounts specified on the Posting Accounts form inSettings > Accounting > Posting Accounts. You can override the default accounts for individual foreign-denominated accounts if that is necessary because of the generally accepted accounting practices under which you operate. If you do not specify an override gain or loss account for a foreign-denominated account, Vantagepoint uses the default unrealized gains and losses accounts specified on the Posting Accounts form.

If you use cash-basis accounting, you have the option to have Vantagepoint post cash-basis entries when the Gains/Losses and Revaluations process revalues the foreign-denominated account balance.

When You Run the Gains/Losses and Revaluations Process

If you have general ledger accounts for which you have specified a currency other than the company’s functional currency, the following occurs when you run the Gains/Losses and Revaluations process:

  1. Vantagepoint calculates the account balance in the functional currency, based on the current balance in the account’s designated currency. To do this, Vantagepoint uses the exchange rate in effect on the date you specify when you run the process.
  2. Vantagepoint compares the current balance in the functional currency to the previous balance in that currency.
  3. If the balance in the functional currency has changed due to a change in the exchange rate, Vantagepoint posts an entry for the difference to an unrealized gains account or to an unrealized losses account.