Enhanced interface

Auto-create draft journal entry from General Ledger revaluation report

At close of period, it's common practice to run revaluation reports to compute the unrealized gains and losses for the period. Rather than create a manual journal entry from the results of your revaluation report, Intacct automatically creates a draft journal entry. Controllers and finance VPs can then review the draft and post the unrealized gains and losses for the period.

You can run revaluation reports by location, meaning an entity and all its locations. Or, you can run individual revaluation reports for each child location of the entity.

Individual revaluation reports are not supported when auto-creating draft journal entries.

There are two workflows for creating a draft journal entry from your revaluation report: one for online revaluation reports, and one for offline revaluation reports.

Subscription	General Ledger
Regional availability	All regions
User type	Business
Permissions	Run GL Revaluation report

Set up auto-create revaluation draft journal entry

You first need to create an unrealized gain and loss account and journal. Next, you'll want to select the account and journal you created in the Configure General Ledger page.

When setting up your accounts, selecting Disallow direct posting prevents the posting of draft revaluation journal entries.

Before you select the auto-create draft journal entry option, deselect Disallow direct posting in the accounts for which you want to produce a revaluation report.
To edit your accounts, go to General Ledger > All > General Ledger accounts. Find the account and select Edit at the end of the row.

Before you select the auto-create draft journal entry option, deselect Disallow direct posting in the accounts for which you want to produce a revaluation report.
To edit your accounts, go to General Ledger > All > General Ledger accounts and select Edit next to the account to change.

For details on editing your accounts, see Edit or view an account.

Create your gain and loss account and gain and loss journal, if you do not already have them.

For more information about creating gain and loss accounts and journals, see Accounts and Journals.
Go to General Ledger > Setup > Configuration.
On the Configure General Ledger page, scroll down to Multi-currency management.
Select the Unrealized gain and loss account and Unrealized gain and loss journal that you want to use for revaluation reports.

Online revaluation report: auto-create draft journal entry

After the revaluation report runs, select View to see the results, and then Create JE to create a journal entry at each location level in AP, AR, or GL.

Set up the unrealized gain and loss account and journal.
Go to General Ledger > All > Reports > General Ledger revaluation.
Enter your revaluation report parameters.
Scroll down to Journal entry creation, and select Auto-create draft JE when offline.
Select View to view your results.
Select Create JE to create the draft journal entry.

What happens next

The journal entry is a draft.

After the journal entry is created, review it as follows:

Go to General Ledger > All > Journal entries.
Find the relevant journal in the list.
Select Transactions.
Select the transaction number.
Select Post.
Reverse the transaction on the following day by selecting the same transaction and then selecting Reverse.

Go to General Ledger > All > Journal entries.
Find the relevant journal in the list.
Select View transactions.
Select the transaction.
Select Post.
Reverse the transaction on the following day by selecting the same transaction and then selecting Reverse.

Offline revaluation report: auto-create draft journal entry

Intacct automatically creates a draft journal entry when you select an offline option for running the revaluation report, such as the Process and store or Memorize options, where you memorize the report and schedule it to run later. If you select Memorize, schedule the report to run offline later.

Instead of manually capturing data produced by an offline revaluation report, Intacct automatically drafts a journal entry. This saves time and reduces potential errors.

Before you run a revaluation report and auto-create a draft journal entry, create a gain and loss account and journal. Then select the gain and loss account and journal on the General Ledger. Learn more about selecting the account and journal on the General Ledger Setup page.

Set up the unrealized gain and loss account and journal.
Go to General Ledger > All > Reports > General Ledger revaluation.
Scroll down to Journal entry creation, and select Auto-create draft JE when offline.
Select Process and store or Memorize. If you select Memorize, schedule the report to run later, offline.
When Intacct processes the report, the draft journal entry is automatically created.

What happens next

The journal entry is a draft.

After the journal entry is created, review it as follows:

Go to General Ledger > All > Journal entries.
Find the relevant journal in the list.
Select Transactions.
Select the transaction number.
Select Post.
Reverse the transaction on the following day by selecting the same transaction and then selecting Reverse.

Go to General Ledger > All > Journal entries.
Find the relevant journal in the list.
Select View transactions.
Select the transaction.
Select Post.
Reverse the transaction on the following day by selecting the same transaction and then selecting Reverse.

You can view the status of any queued offline job by going to Company > Admin > Offline jobs > Offline job queue.