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UNREALIZED GAIN LOSS

This is the same as Foreign Currency Revaluation, which is to evaluate all the outstanding transactions in foreign currency and to find out if there is any unrealized gain/loss according to the 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 recognized and compared with the subsequent revaluation or payments.

First, go to G/L > Next, click on Unrealized Gain/Loss

Then,  click on New,

UGL1.png

After that, click on Yes,

Then, key in Description, assign G/L accounts and journal type,

Now, confirm the date and unrealized currency rate,

Last, 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 ;

First, go to G/L > Then, click on Unrealized Gain/Loss

Then, click on New, Yes,

Next, key in Description, assign G/L accounts and journal type,

After that, confirm the date and unrealized currency rate,

Click on Start Unrealized

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

UGL7.png

Now, 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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