Run the Period-End FX Revaluation

When you hold receivables or payables in a foreign currency, their value in base currency drifts as the exchange rate moves. The FX revaluation restates every open foreign receivable and payable at the period-end rate and books the difference — the unrealized gain or loss — to the ledger. This page shows how to preview it and post it.

Who / when: the Accountant and the Finance Manager run the revaluation (both hold the run permission); the Auditor can preview it as a read. You run it at each period-end, just before you close the period.

We will follow Tunde the finance officer, revaluing open foreign balances at month-end.

A few terms first

• Open balance — a foreign receivable or payable that has not yet been settled.
• Unrealized gain / loss — the paper gain or loss from the rate having moved since the balance was booked; “unrealized” because no cash has changed hands yet.
• Carrying value — the balance’s current base value on the books.
• Restated value — what it is worth in base currency at the period-end rate.
• Reversing voucher — an automatic next-period entry that undoes the revaluation, so the adjustment doesn’t double-count once the invoice actually settles.

Preview the revaluation

1. Accountant — open Finance & Ledger → FX Revaluation. Set the Revaluation Date to your period-end (it defaults to the end of the current month).

2. Accountant — press Preview. Veona lists every open foreign receivable and payable with its account, party, currency, open balance, the rate it used (the latest on or before the revaluation date), the carrying base value, the restated base value, and the resulting gain / loss. The footer shows the net unrealized gain or loss. Nothing has posted yet — this is a dry run.

Post it

3. Accountant — when the preview looks right, press Post Revaluation. Veona posts one balanced base-currency voucher that adjusts each receivable/payable control account against the Exchange Gain/Loss account, plus a reversing voucher dated the first day of the next period.

4. Accountant — a confirmation appears with the posted voucher number and the reversal’s date and number, and a View In Ledger link to drill straight into the entry in the General Ledger.

Note

The revaluation is idempotent — re-running it for the same date never double-posts; you simply see the same result. And because it auto-reverses at the start of the next period, the paper adjustment nets back out once the underlying invoice is actually paid (where the realized gain or loss is recognised on settlement).

Caution

The revaluation needs an Exchange Gain/Loss account mapped in Finance Settings — without it, there is nowhere to book the difference. Map it once before your first revaluation.

What happens next

With open foreign balances restated, your period-end statements are accurate, and you can close the period in Fiscal Years and Periods. The last configuration piece to be sure of is the mappings that make all of this — and every automatic posting — flow: Finance Settings.

Follow the trail

• Previous: Add Exchange Rates and Post in Foreign Currency
• Next: Read the Fixed-Asset Register in Finance
• Related: Open, Close and Lock Fiscal Years and Periods · Configure Finance Settings and Account Mappings · Read the General Ledger