Sage 300 ERP enables you to re-evaluate multicurrency transactions at new exchange rates, to determine the current value of receivables on specific dates (in multicurrency ledgers only).
The AR Revaluation process is run against a specific year and period to change the exchange rate used for foreign currency transactions. Once the revaluation is posted a journal will be created against the relevant exchange gain and loss account.
Let’s see how to pass AR Revaluation entry in Sage 300 ERP.
Firstly, we have to decide up to which date, we have to re-evaluate Multicurrency transaction as per new Exchange rates.
After deciding revaluation date, we have to define the currency code, revaluation date, and exchange rate in AR revaluation.
For defining AR Revaluation, navigate to Account Receivable–>A/R Periodic Processing–> Revaluation
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Taking example of the above screen shot, we are going to reevaluate USD Transaction as on 30th April, 14 with new Exchange rate.
We can process provisional revaluation by click on provisional revaluation as mentioned in above screen shot
After provisional revaluation process, we have to see final effect of all AP Transaction
To see effect of AR Provisional revaluation, navigate to Account Receivable–>A/R Transaction Reports–>Posting Journals and select provisional revaluation radio button, as mentioned in below screen shot
As we can see in below screen shot, system has revaluate 1 Debit note of vendor Customer “100” with new exchange rate “60.23” and passed amount in exchange gain (Loss) Account.
Document Source amount = 2983.00
Prior Exchange rate = 60.337
Prior functional = (2983 * 60.337 = 179985)
Effect after passing revaluation entry with new exchange rate
Document Source amount = 2983.00
New Exchange rate = 60.23
New functional amount = (2983.00 * 60.23 = 179666)
Exchange gain loss amount = (179985– 179666) = 319
Please Note: For safety sake please ensure you take database back-up (Refer this blog) from (Start–>Sage Accpac–>Tools–>Database dump) before Final AR Revaluation process.
Hope this post provides insights into how A/R Revaluation works and helps you with the accurate process of A/R Revaluation.
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