Solution Properties
Solution ID:
211022133636373
Last Modified Date:
Thu Oct 08 13:44:59 UTC 2026
Taxonomy Path:
Case category//How do I...//processing
Author:
[email protected]
Foreign Trader - Revalue your foreign currency bank accounts
Description
With Foreign Trader, you can set up customers, suppliers and bank records in foreign currencies, letting you enter payments and receipts without manual calculations. You can also create invoices, orders and statements in the relevant currency.

NOTE:

Foreign Trader is available as standard in Sage 50 Accounts Professional and Client Manager. In other variants of Sage 50 Accounts, it's available as an add-on.

Cause
Resolution

Revalue a foreign currency bank account

The Foreign Bank Revaluation Wizard changes the sterling balance of a foreign bank account.

  1. On the menu bar, select Modules then press Wizards and choose Foreign Bank Revaluation.
  2. Select the Currency dropdown and choose the currency of the bank account you want to revalue.
  3. Select the bank account you want to revalue then press Next.
  4. Select Date and enter the date you want to revalue the bank account.
  5. Choose Exchange Rate and enter the rate you want to use to revalue the bank account then press Next.
  6. Check the figures in the Revalued Balance and Revaluation Amount boxes are correct then press Post. 

    If the figures aren't correct, press Back and amend the Exchange Rate box to the correct rate.

TIP:

If you need to revalue the base/foreign to be zero, use our guide, Making foreign and base currency bank balances zero.

 

Revaluation journals

If the foreign currency bank balance increases after running the Foreign Bank Revaluation Wizard, Sage posts the following journal:

Type Nominal Date Details Net T/C Tax
JD Foreign currency bank account Date of revaluation Foreign Bank Revaluation Journal Revaluation amount Non-vatable tax code 0.00
JC Exchange rate variance nominal code Date of revaluation Foreign Bank Revaluation Journal Revaluation amount Non-vatable tax code 0.00

NOTE:

If required, to print a list of the revaluation journals, use the Nominal Ledger Day Books report.

If the foreign currency bank balance decreases after running the Foreign Bank Revaluation Wizard, Sage posts the following journal:

Type Nominal Date Details Net T/C Tax
JD Exchange rate variance nominal code Date of revaluation Foreign Bank Revaluation Journal Revaluation amount Non-vatable tax code 0.00
JC Foreign currency bank account Date of revaluation Foreign Bank Revaluation Journal Revaluation amount Non-vatable tax code 0.00


The automatic revaluation journals are always posted with a reference of REVAL and flagged so that they aren't included in a bank reconciliation.

View or amend the foreign currency bank revaluation

To view the foreign bank revaluations:

  1. Select Bank accounts and select the required foreign currency bank account then choose the New/edit dropdown and press Edit.
  2. To show the list of existing revaluations choose the Revaluations tab.
  3. To show the Foreign Balance, the Prior Base Balance and the Revalued Base Balance choose Show Balances.

To amend the exchange rate used:

  1. Select Bank accounts and select the required foreign currency bank account then press the New/edit dropdown and choose Edit.
  2. Press the Revaluations tab then choose Show Balances and select the revaluation then press Edit.
  3. Choose Rate and amend the exchange rate as required then press OK.

    NOTE:

    You can't change the date.

  4. Select Save then press Close.

To reverse a revaluation:

  1. Select Bank accounts and select the required foreign currency bank account then press the New/edit dropdown and choose Edit.
  2. Select the Revaluations tab then choose Show Balances and select the revaluation then press Reverse.
  3. Press Save then press Close.
Steps to duplicate
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