Adjust GL account for additional reporting currency

kiyac

I am wondering the use of "Adjust GL account for additionsl reporting currency" in Financial Management > General Ledger > Periodic Activities > Curency > Adjust exchange rate.

Under what situation will hint this function, and what GL entries will be booked? It only affects those OPEN vendor ledger entries, OPEN customer ledger entries and bank account or all posted GL entries?

Any example?

Many thanks!

ssingla

I implemented additional currency 4 years ago and never got a oppurtunity to do that again. So I don't remember too much but IMHO it will take into consideration all the entries posted in the General Ledger and update them. Also that makes sense for the purpose of reporting. You might have booked some expenses not using vendor account .....(There are lot of other similar requirements also).

kiyac

Hi Ssingla,

I believe that "Adjust GL account for additional reporting currency" will book entry to "realized GL gains" or "realized GL losses" which is set in additional currency card > reporting tab. Since error will pop up if I run "Adjust GL account for additional reporting currency" without proper set those accounts.

But I still can't trigger any bookings to any of those 2 accounts"realized GL gains" or "realized GL losses", even I have booking to expense account.

LCY = GBP; ACY = USD
02-Nov-08 (1GBP = 2 USD)
Dr postage 100 (GBP) [ACY = 200]
Cr bank 100 (GBP) [ACY=200]
01-Dec-08 (1GBP = 1.5 USD)
Run : Financial Management > GL > Periodic Activities > Currency > Adjust Exchange Rate > with "Adjust GL account for additional reporting currency" = yes
Result : no GL entry generated.

Any example with figure can be provide for test. Thanks! [-o<

ssingla

Have you selected anything in the field "Exchange Rate Adjustment" in the G/L account card. The default is "No Adjustment". Change it.

kiyac

Hi Ssingla,

You are right, I am missed setting in "G/L account card" > Tab : Reporting.
After proper setting, related additional reporting GL entry created after run exchange rate batch job with "Adjust GL account for additional reporting currency" = yes.

Thanks for your great hint.

austin

Hi folks,,


could any expert share the use of the Field Exchange Rate adjust ment In Account Card ?


Thanks and regards

jannestig

Honestly Does no one in India Press F1 or read a manual ?

The field mentioned provides the option on how changes to the exchange rate table will affect the amount posted to the GL account mentioned for entries in a period select during the adjust exchange rate batch jobs.

The options allow you to select which field you want adjusted LCY or FCY(additional currency field)

F1 says

If you post in an additional reporting currency, you can specify in this field how G/L accounts will be adjusted for exchange rate fluctuations between LCY and the additional reporting currency.

Exchange rate gains and losses are first posted when you run the Adjust Exchange Rates batch job. When you run the Adjust Exchange Rates batch job, the program finds the adjustment exchange rate in the Currency Exchange Rate table and then compares the amounts in the Amount and Additional-Currency Amount fields on the G/L entry to determine if there is an exchange rate gain or loss.

The batch job uses the option you select in this field to determine whether to calculate and post exchange rate gains or losses for G/L accounts.

You can select one of three options:

No Adjustment
The program assigns this option as a default. No exchange rate adjustment is made to the G/L account.

Adjust Amount
If you select this option, the LCY amount will be adjusted for any exchange rate gains or losses. The program will post any exchange rate gains or losses to the G/L account (the Amount field) and to the accounts you specified for gains or losses in the Realized G/L Gains Account or Realized G/L Losses Account fields in the Currency table.

Adjust Additional-Currency Amount
If you select this option, the additional reporting currency will be adjusted for any exchange rate gains or losses. The program will post any exchange rate gains or losses to the G/L account (the Additional-Currency Amount field) and to the accounts you specified for gains or losses in the Realized G/L Gains Account or Realized G/L Losses Account fields in the Currency table.

austin

jannestig wrote:

Honestly Does no one in India Press F1 or read a manual ?

DONT THINK LIkE THAT :-#