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This text refers to program version 8.4  

The Rate Gain/Loss Setting

This page describes the Rate Gain/Loss setting in the Nominal Ledger.

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The 'Rate Gain/Loss' Maintenance function in the Nominal Ledger will update the foreign Currency balances of specified Accounts using the latest Exchange Rates. In some countries, it is necessary to run this function before producing a Balance Sheet report.

The operation of this function will be controlled by the Rate Gain/Loss setting in the Nominal Ledger. The function will update the balances of every Currency Balance Sheet Account (i.e. every Asset, Liability and Equity Account in which a Currency has been specified). The Rate Gain/Loss setting is described on this page.

To work with the Rate Gain/Loss setting, first move into the Nominal Ledger using the [Switch Module] button in the Navigation Centre. Then, if you are using Windows or Mac OS X, click the [Settings] button in the Navigation Centre and then double-click 'Rate Gain/Loss' in the resulting list. If you are using iOS or Android, tap the [Settings] button in the Navigation Centre and then tap 'Rate Gain/Loss' in the 'Settings' list. The 'Rate Gain/Loss Inspect' window opens, as illustrated below. Enter the specifications that you need, then click the [Save] button (Windows/Mac OS X) or tap √ (iOS/Android) in the Button Bar to save the changes. To close the window without saving changes, click the close box (Windows/Mac OS X) or tap < (iOS/Android).

Rate Gain A/C

Paste Special    Account register, Nominal Ledger/System module

Enter here the Account that is to be credited with any gains that result from the application of current Exchange Rates to old Transactions.

Rate Loss A/C

Paste Special    Account register, Nominal Ledger/System module

Enter here the Account that is to be debited with any losses that result from the application of current Exchange Rates to old Transactions.

Limit

If you only need apply the current Exchange Rate to past Transactions if the result will be a gain or loss that is greater than a certain amount (in the your Currency), specify that amount here.

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Exchange Rate Gains and Losses:

• Introduction
  

• Rate Gain/Loss setting
  

• Currency A/C Rate Change report
  

• 'Rate Gain/Loss' Maintenance function

Go back to:

• Home page for Multi-Currency manual
  

• Home page for Standard ERP manual

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