Use the Revaluation window to define, run, update, and delete revaluations for foreign currency–denominated balances. Revaluation launches a process that revalues the functional currency equivalent balances for the accounts and currencies you select, using the appropriate current market rate for each currency. Resulting gain or loss amounts are posted to the gain/loss or cumulative translation adjustment accounts you specify and balanced by balancing segment values. This process creates a revaluation batch containing separate journal entries for each revalued foreign currency.

You can revalue a single account or ranges of accounts, for both income statement and balance sheet accounts. Income statement accounts are revalued on the basis of their period–to–date or year–to–date balances, in accordance with the Income Statement Accounts Revaluation Rule profile option. Balance sheet accounts are always revalued on the basis of their year–to–date balances.

When you revalue balances in an average balance set of books, General Ledger only revalues standard balances. When you post the revaluation journal entries to update your standard balances, the system recomputes your average balances automatically. If you use Multiple Reporting Currencies, revaluation journal entries generated and posted in your primary set of books are automatically replicated and converted to each of your reporting sets of books. You must separately post these replicated journal batches in each of your reporting sets of books.

Secondary Tracking Segment
You can use the secondary tracking segment to track revaluation results using the primary balancing segment and secondary tracking segment. Revaluation gain or loss amounts will be posted to the gain/loss or cumulative translation adjustment account you specify and balanced by each balancing segment value and secondary tracking segment value pair.

Defining, Saving, and Running Revaluations

All Currencies – Revalues all standard balances denominated in a currency other than your functional currency, for the selected period and range of accounts. Currencies are revalued using the rate defined in the Revaluation window.
 

You can define new revaluations, update existing revaluations and delete revaluations. You can launch any revaluation from the Revaluation window or you can launch saved revaluations and revaluations grouped into Request Sets from the Submit Request window.

• To define a new revaluation, complete the fields in the revaluation window and save your work.
• To update an existing revaluation, query a revaluation, change the fields in the window as necessary and save your work.
• To delete a revaluation, query a revaluation and choose View>Delete from the menu.
• To run a revaluation from the Revaluation window, enter a new revaluation or query a revaluation and choose the Revalue button. Complete the Period, Effective Date, and Rate Date fields in the Submit Request window.
• To run a revaluation or group of revaluations from the Submit Request Window, choose the Revaluation program. In theParameters window that appears, specify the Revaluation Name or Request Set Name for a group of revaluations, Period, Effective Date, and Rate Date.