Unrealized Gain Loss

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Unrealized Gain/Loss

This is the same as Foreign Currency Revaluation, which is to revaluate all the outstanding transactions in foreign currency, and to find out if there is any unrealized gain/loss according to current exchange rate.

The difference is: each revaluation will also auto generate the journal entries should there is unrealized gain/loss, but the entries will be reversed on the next day; which means the original (initially traded) exchange rate will remain and be recognised and compared with the subsequent revaluation or payments.

Go to G/L > Unrealized Gain/Loss

Click on New,


UGL1.png


Click on Yes,

Key in Description, assign G/L accounts and journal type,

Confirm the date and unrealized currency rate,

Click on Start Unrealized...

(please note that the date is 15/01/2018)


UGL2.png


Description: define a description for journal entries

Unrealized Account/Journal Type: assign the respective Gain/Loss Accounts for posting purpose (sales/purchase ledger). Both G/L Gain/Loss Accounts are used for G/L Accounts tab (general ledger accounts).

Journal Voucher No: this number is auto-run. However you may click on the field to key in any voucher number.

Reversed Journal Voucher No: this number is auto-run. However you may click on the field to key in any voucher number.

Date: the date of unrealized.

Reverse G/L Account Posting: this is an option to reverse the posting entries on the following day for related accounts under G/L Accounts tab. Earlier, only related accounts under Main tab (AR or AP related accounts) will be reversed automatically on the following day.

Unrealized Currency: key in the latest rate on the date of unrealized

Start Unrealized: click on this button to execute the unrealized

Main tab: this page will list down related bills info and amount of unrealized gain/loss (right-most column) based on unrealized date and rate. Only outstanding bill will be listed, those already knocked off will not be listed.

G/L Accounts tab: this page will list down foreign-currency accounts (general ledger accounts), home balance and amount of unrealized gain/loss (right-most column) based on unrealized date and rate.


After Saved;

(1) (for one day) the unrealized is not allowed to edit. You may only view, print or delete the revaluation.

(2) Journal Entry will be auto-generated should there was unrealized gain/loss. The reversed entries will be auto-generated on the following day. The original exchange rate will be restored.

Click on Save, Close...

Go to G/L > Journal Of Transaction

Define filter options, (filter the date till 15/01/2018)

Click on Inquiry,


UGL3.png


Define filter options, (filter the date till 16/01/2018)

Reversed entries is generated..


UGL4.png


Go to G/L > Ledger Reports,

Define filter options and click on Inquiry,

(filter the date till 15/01/2018)


UGL5.png


(filter the date till 16/01/2018)


UGL6.png


Subsequent Revaluation

Let say the subsequent revaluation took place after one week, and the currency rate for USD is: 4.4000 ;

Go to G/L > Unrealized Gain/Loss

Click on New, Yes,


Key in Description, assign G/L accounts and journal type,

Confirm the date and unrealized currency rate,

Click on Start Unrealized...

(please note that the date is 22/01/2018)


UGL7.png


Click on Save, Close...

Go to G/L > Journal Of Transaction

Define filter options, (filter the date till 22/01/2018)

Click on Inquiry,


UGL8.png


Define filter options, (filter the date till 23/01/2018)

Reversed entries is generated..


UGL9.png


Go to G/L > Ledger Reports,

Define filter options and click on Inquiry,

(filter the date till 22/01/2018)


UGL10.png


(filter the date till 23/01/2018)


UGL11.png



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