Solution Properties
Solution ID:
250328160606923
Last Modified Date:
Fri Mar 28 16:16:25 UTC 2025
Taxonomy Path:
Case category//How do I...//banking/reconciliation
Author:
[email protected]
Foreign bank revaluation postings
Description

When you run the Foreign Bank Revaluation Wizard it posts a journal to adjust the bank account's base currency balance. The bank account's foreign balance doesn't change. The opposite side of this journal posts to the Exchange Rate Variance Control Account nominal code, 7906 by default.

Cause
Resolution

Base currency bank balance - Positive balance increased or overdrawn balance decreased

The following transactions post to the audit trail:

Type Nominal Details Date Ref Net Tax T/C
JD Bank A/C Foreign Bank Revaluation Journal Revaluation date REVAL Adjustment 0.00 T9
JC 7906 Foreign Bank Revaluation Journal Revaluation date REVAL Adjustment 0.00 T9

Base currency bank balance - Positive balance decreased or overdrawn balance increased

The following transactions post to the audit trail:

Type Nominal Details Date Ref Net Tax T/C
JC Bank A/C Foreign Bank Revaluation Journal Revaluation date REVAL Adjustment 0.00 T9
JD 7906 Foreign Bank Revaluation Journal Revaluation date REVAL Adjustment 0.00 T9
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