Year end preparation - Foreign currency revaluation

How to run the foreign currency revaluation in Sage 50cloud Pastel.

Exchange rates between currencies fluctuate all the time. Transactions processed now, at current exchange rate, won't be worth the same in home currency when receiving or making payment in the foreign currency.

The foreign currency revaluation adjusts your home currency value to balance with your foreign currency amount.

 

 CAUTION: Make a backup of your data before you attempt to proceed with the forgein currency revaluation. Restore a backup of before you ran the revaluation if the adjustments are incorrect.  

1. Select Process then Foreign Currency Revaluation.
2. Select customers, suppliers, cashbooks or a combination thereof.
3. Click Next and select the Period.
4. Select the correct period for the revaluation.
5. Select Edit Exchange Rates and select the currencies form the drop-down.
   Set the exchange rate for each currency for the period you're running the revaluation.
6. Select OK and Type in Starting Reference.
7. Click Next then print the Foreign Currency Variance Report.
   Check this report carefully as the system will post these figures as your adjustment variances.
8. Select Next and then Process.

 CAUTION: Run the revaluation before running the year end process as you can only run this process in the current year.