Case category//How do I...//banking/reconciliation
Author:
anth.richardson@sage.com
Foreign Bank Revaluation
Description
Your balance sheet report shows bank account balances as assets. Foreign currency bank accounts fluctuate in value with exchange rates. For example, €5000 equals £3333.33 at 1.5 but £2857.14 at 1.75.
Use the Foreign Bank Revaluation Wizard to recalculate the base currency on your foreign currency bank accounts. This adjusts their value on your balance sheet and posts exchange rate gains or losses to your profit and loss. If you post a transaction before the revaluation date with a different exchange rate, and we'll revalue this transaction too.
Cause
Resolution
NOTE:To use this feature, you need to purchase and activate the Foreign Trader module.
Foreign bank Revaluation Wizard
From the menu toolbar, select Modules
Hover over Wizards then click Foreign Bank Revaluation.
If prompted to close any open windows, click Yes.
Choose the required currency.
Select the bank accounts you want to revalue.
Select Next.
Enter the revaluation date and revaluation exchange rate.
Select Next. TIP:The revalulation wizard will revalue the balance from the start of your accounts, up to the data you enter here.
The exchange rate is the amount of foreign currency that makes up one unit of the base currency. For example, using a base currency of pounds sterling, if a pound is worth 1.2 euros, the exchange rate is 1.2.
NOTE: 
TIP: 
