Instructions for Posting Exchange Rate Gains:


Master Data:

  • Financial – General Ledger – Tables – Recording – Exchange

a. Enter the exchange rates for the required currencies on the day the exchange rate gain is posted.

             i. If exchange rates are already present, create a NEW entry and do not overwrite existing ones! (retroactively)

  • The Settlement account must exist.
  • The Settlement account must be assigned to every account that involves foreign currency amounts.
  • The checkbox "Allow Foreign Currency" must be activated for every account that involves foreign currency amounts.



Functions:

  1. Financial – General Ledger – Features – Others – FC Translation

a. Enter date/text.

b. Select the foreign currency (check that the exchange rate is correct).

c. Preview: Displays what will be posted when the function is executed (nothing is posted yet).

d. Create.

e. Repeat steps a. to d. for each additional required currency.


  1. Financial – General Ledger – Recording

a. Review the created postings.


  1. Financial – General Ledger – Balance Sheet 

a. Review the balance sheet "including the column with the foreign currency amount."

 i. The foreign currency amounts should now reflect the newly entered exchange rate.