Advanced Multi-Currency

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Advanced Multi Currency

This module allows revaluation of foreign currency and unrealized gain/loss in foreign currency.

Go to Tools > Program Control > Module Setting

Check the checkbox of Advanced Multi Currency to enable it.


Add A/R Invoice with Foreign Currency

Before all, let's say I have added an A/R Invoice for USD 4,000 (at the rate of 3.5000).

Go to G/L > Journal Of Transaction

Define filter options,

Click on Inquiry,


AMC1.png


Go to G/L > Ledger Reports,

Define filter options and click on Inquiry,


AMC2.png


Foreign Currency Revaluation

This is to revaluate all outstanding transaction in foreign currency, and to find out if there is any unrealized gain/loss according to current exchange rate. Each revaluation will auto generate journal entries should there is unrealized gain/loss. The last revaluation rate will be recognised and compared with subsequent revaluation or payments.


Go to G/L > Foreign Currency Revaluation

Click on New,

AMC3.png


Click on Yes

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

Confirm the date and revaluation currency rate,

Click on Start Revalue...


AMC4.png


Description: define description for journal entries

Unrealized Account/Journal Type: assign respective G/L account for posting purpose.

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

Date: date of revaluation

Revalue Currency: key in the latest rate on the date of revaluation

Start Revalue: click on this button to execute the revaluation

Main tab: this page will list down related bills info and amount of unrealized gain/loss (right-most column) based on revaluation 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 revaluation date and rate.


After Saved;

(1) The revaluation 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.

(3) Not allowed to edit or delete transactions (in foreign currency) prior to the date of revaluation.

(4) The revaluation rate will be recognised as the last currency rate, and will be referred to:

- in subsequent revaluation to compare with the current rate, to derived at another unrealized gain/loss (if any).

- in subsequent payment to compare with the exchange rate, to derived at the Gain/Loss on Foreign Exchange.

Click on Save, Close...


Go to G/L > Journal Of Transaction

Define filter options,

Click on Inquiry,


AMC5.png


Go to G/L > Ledger Reports,

Define filter options and click on Inquiry,


AMC6.png


Subsequent Revaluation

Let say the subsequent revaluation took place after one week, and the currency rate for USD is: 4.1;

Go to G/L > Foreign Currency Revaluation

Click on New, Yes,


AMC7(1).png


As compared to previous revaluation (at the rate of 4.2000), new Revaluation Rate (4.1000) caused a Unrealized Loss of 400.00

Click on Save, Close..


AMC8(1).png


Go to G/L > Journal Of Transaction

Define filter options,

Click on Inquiry,


AMC9.png


Go to G/L > Ledger Reports,

Define filter options and click on Inquiry,


AMC10.png

Note: Year End Processing does not support Foreign Currency Revaluation.

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