RE: [SYS21] FAS52 Foreign Currency Question

Garry,

Have a look at 4/GLX as this is where the accounts are set up.  When taking
this option, leaving the Application, Currency and Company blank will show
the defaults.

Here you specify the Realised and Unrealised Gains and Losses accounts
(plural)

Here are some notes that I think will help.

Realised Gains Account.
This account and the next one may be the same. They must be fiscal profit
and loss accounts. (The contra value is included in the appropriate control
account.)
Realised Loss Account.
This account may be the same as the previous one. This is not recommended
under normal circumstances. They may be either balance sheet or profit and
loss, and either fiscal or memo, but both must be of the same type. They may
be the same as the realised accounts.
Contra Account (Unrealised).
This must be a balance sheet account, and different from the gains and
losses accounts, but of the same type (fiscal or memo). The contra account
will hold the net difference between the unrealised gain and the unrealised
loss.
Warning: Do not allocate the realized accounts and the unrealised accounts
the same account number. The unrealized gain/loss accounts are flagged as
post inhibited with G. If you use the same account for realised gain/loss,
you will encounter problems posting from suspense in Cash Management and
cash allocation in Accounts Receivable.


Regards

Michael Berman

(m) 0419 324 558


-----Original Message-----
From: jbausers-l-admin@midrange.com [mailto:jbausers-l-admin@midrange.com]On
Behalf Of Garry Clarke
Sent: Thursday, 3 October 2002 5:39 PM
To: 'jbausers-l@midrange.com'
Subject: RE: [SYS21] FAS52 Foreign Currency Question

Postings for UNREALISED gains/losses on revaluation of debtors, for example,
are posted
to balance sheet accounts. Postings for REALISED gains losses are posted to
Profit and Loss accounts. If an item has been revalued, there will be a
gain/loss posting to the profit and loss as well as a posting to the balance
sheet unrealised gain/loss account to adjust.


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