A dollar invoice booked at 88 and still unpaid at a month end when the dollar is at 84 is worth less in rupees than your books say. Revaluing shows what it is worth on that day, without touching the invoice.
- Open Accountant, Manual journals and choose Revalue currencies.
- Set As at, usually the last day of the month or year. It starts at the last month end.
- Enter the rate for each currency on that day. Each starts at the rate you last used.
- Check the list: every invoice and bill open in another currency on that day, what it is booked at in rupees and what it comes to at the new rate.
- Choose Post revaluation.
What it posts
- One entry dated that day: each customer’s or supplier’s balance moved by its difference, against Unrealised exchange gain or loss.
- The same entry turned round the next day, so the real gain or loss is booked once, when the money moves.
- Both are made and kept by JAI CRM and cannot be edited by hand. To take one back, use the bin beside it under Revaluations posted; both entries go.
Posting needs the right to post journals. Nothing in another currency open on the day means there is nothing to revalue.
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