About the GL Revaluation report

Revalue foreign currency transactions, such as inter-entity transactions, using the General Ledger (GL) revaluation report. For example, before foreign currency inter-entity journal entries are paid, you need to account for unrealized gains or losses due to currency exchange fluctuations. Instead, Intacct provides the option to automatically create a draft journal entry for the unrealized gains or losses due to currency exchange fluctuations.

To access revaluation, go to General Ledger > All > Reports, then select General Ledger revaluation.

Before you revalue: Enable multi-currency transactions in General Ledger.

1. Go to Company > Admin > Subscriptions.

2. Next to General Ledger, select Configure.

3. On the Configure General Ledger page, scroll down to Multi-currency management and select Enable multi-currency subscription.

Who typically needs this report

Typically, you'll want to revalue foreign currency transactions as part of your month-end close before running a consolidation.

For example, depending on your business needs, your month-end close could look something like this:

1. Reconcile bank accounts.

2. Record accrual entries.

3. Record revaluations (GL, AP, AR).

4. Reconcile inter-entity transactions.

5. Tie the subledger to General Ledger.

6. Consolidate.

7. Review and close General Ledger.

What's in this report?

The default GL revaluation report includes the following columns:

Report Column Heading	Description
Account number	The account number associated with the account.
Account	The name of the account.
Posted date	The date on which the transaction was posted to the journal.
Description	A text description of the transaction that was posted.
Line	The line number for the entry in the journal.
JNL	The name of the journal such as CDJ or GL, for example.
Department	The department with which the transaction is associated.
Location	The location for the transaction.
Txn currency	The currency for the transaction.
Transaction type	Indicates whether the transaction is a debit or credit.
Txn amount	The amount of the transaction when posted.
Base currency	The operating and reporting currency of the entity or location where the transaction posted.
Base amount	The value of the transaction in the base currency of the entity using the relevant exchange rate at the time the transaction posted.
Reval rate	The current rate of exchange between the transaction and base currencies. Use the Intacct Daily Rate or a custom rate depending on your business needs.
Revaluation amount	The revalued transaction amount in the base currency, as calculated by multiplying the revaluation rate by the transaction amount.
Gain	The difference between the base amount and revaluation amount if the fluctuation resulted in a gain.
Loss	The difference between the base amount and revaluation amount if the fluctuation resulted in a loss.
Grand total	The total gains in one column and the total losses in another column of all the transactions in the report.
Net gain or loss	The net gain or loss as calculated by subtracting the smaller number from the larger number.

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