Run the Gains/Losses and Revaluations Process

If your enterprise uses multiple currencies, you can calculate and post currency exchange gains and losses in accordance with your enterprise's accounting practices.

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

If you have multiple accounting periods open, 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:

1. In the Navigation pane, select Accounting > Gains and Losses.
2. In Translation Date on the Gains/Losses and Revaluations form, specify the date.
   This is the date as of which you want to revalue foreign currency transactions and foreign-denominated account balances. Vantagepoint selects the currency exchange rates that are in effect on this date and uses those rates to calculate gains and losses.
3. If a diary is set up for the fiscal period or fiscal year, use Diary to select a diary code for the current transaction or the group of transactions.
4. Click Run.
5. In response to the confirmation message, click Yes to continue 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.