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This text refers to program version 4.0  

Rate Gain/Loss Maintenance Function

This function, available through the 'Maintenance' item on the File menu in the Nominal Ledger, will look to all Transactions featuring Accounts of a certain nature (those with a Currency specified and of Type Asset, Liability or Equity) and compare the Exchange Rate used at the time of the Transaction (or that used when the 'Rate Gain/Loss' function was last run) with the current Exchange Rate. If the difference in applying the two Exchange Rates is greater than a certain amount (specified in the Rate Gain/Loss setting), a new Nominal Ledger Transaction will be created. Where the application of the current Exchange Rate results in a loss, that loss will be debited to the Rate Loss Account specified in the Rate Gain/Loss setting and credited to the Currency Account used in the original Transaction. Where a gain results, that gain will be credited to the Rate Gain Account specified in the Rate Gain/Loss setting and debited to the Currency Account used in the original Transaction.

If it is necessary to find out the value of the Transaction that will be created by this function, run the Currency A/C Rate Change report first.

Date

Paste Special    Current Date

Specify here the Transaction Date of the Transaction to be created by the function. The current Exchange Rate for the specified date will be used. Transactions whose Transaction Date is later than the specified date will not be included in the scope of the function. If left blank, the current date will be used.

Accounts

Paste Special    Account register, Nominal Ledger/System module

Range Reporting    Alpha

If you wish to apply the function to a particular Account (or range of Accounts) specify that here. Note that for an Account to be considered by the function, two criteria must be met: the Account must have an entry in its Currency field and it must be an Asset, Liability or Equity Account. Income and Expense Accounts will not be included.

Values in

If you are using the Dual-Base system, values in this report can be shown in either Base Currency. Use these options to choose which Currency is to be used on this occasion. If you are a transitional user of this system, this complies with the EMU requirement that you should be able to produce Nominal Ledger reports in either your home Currency or the Euro.

If you are not using the Dual-Base system, use the Base Currency 1 option to produce a report in your home Currency.

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