FX Revaluation

What it is for

At period end your foreign-currency balances (accounts, loans, cash/bank, cheques/notes, time deposits, advances and deposits) still stand in the books at the rate of the transaction day. This screen multiplies each item’s open foreign balance by the closing rate, compares it with the TL in the books and creates an accounting entry for the unrealized exchange difference: a gain goes to exchange gain, a loss to exchange loss. If the difference was recognized before, only the new difference of the period is written, so nothing is counted twice. The screen is titled Period-End FX Revaluation (Dönem Sonu Kur Değerleme).

Ülke notu — KKTC

North Cyprus legislation does not say which column of the official rate table to use and neither forbids nor prescribes a reversing entry at the start of the period; therefore the company chooses its own policy. Until a rate column is chosen, North Cyprus items are not revalued.

Who uses it

The accounting manager and accounting staff. On the role screen: View on General Ledger shows the table; Add on General Ledger - Manual Entry allows Post to GL and Revalue period in bulk; Add on General Ledger - Reversal allows Reverse (undo the revaluation). For separation of duties, the person who posts and the person who reverses can differ.

Screens

• Year, Month and Calculate: the default is the current month of the branch; the period end is the last day of the month. Refresh reloads the table.
• Filter buttons: All, Account, Foreign loan, Foreign cash/bank, order and investment advances, deposits and guarantees, staff advances, and so on.
• Table: item type, account, currency, open balance, book TL, rate column, closing rate and difference (TL); gain is green and loss is red.
• Post to GL (per item) and Revalue period in bulk: confirm the question; items without a rate are skipped and counted.
• Reverse (Çevir): creates an opposite entry at the start of the next period.
• Missing information messages: a No rate badge when there is no verified closing rate, reason badges when a policy or rule is missing, and a note when a loan’s booking rate is missing; other items are not affected.

The closing rate and rate column used in an entry are stored with the revaluation record; a later rate change does not recalculate a posted entry, and Reverse is used for correction.

Related modules

• Exchange Rates
• General Ledger
• Cash / Bank

Step-by-step screen guides are currently available in Turkish; the links above open them.