Sage ERP X3 provides a feature to automatically generate the exchange variance and conversion variance entries on the accounts generated in currencies.New Release: Salesforce Integration with Sage ERP X3 – An Introduction
The conversion variance, of the “Balance sheet” type, is the result of the revaluation of the accounts receivable or payable denominated in currencies. It is calculated for each unmatched journal or for each partial matching group, by determining the difference between the balance of the journal or group in local currency and the balance in currency valued at the new exchange rate.
The conversion variance, of the “Balance sheet” type, is the result of the revaluation of the accounts kept in currency: they are mostly cash accounts recording operations on the basis of the day’s exchange rate. The variance is assessed by the difference between the account balance in local money at the end of the period and the balance in currency valued at the new exchange rate. It is recorded in the exchange rate gain or loss account.
Variances are usually reported at the end of the period and reversed at the beginning of the next period. Therefore the processing is used to specify the date upon which the journal must be reversed.
To successfully bring this functionality use below the process window.
Navigate to: Financials > Closing processing’s > Conversion variance
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