Year end preparation: Foreign currency revaluation in Sage 50cloud Pastel

Run a foreign currency revaluation in Sage 50cloud Pastel to adjust your home currency values against current exchange rates. Do this before you run your year end.

 

Exchange rates change constantly. The revaluation adjusts your home currency values to match your foreign currency amounts at the current rate.

• Back up your company data before you start. If the adjustments are wrong, you'll need to restore this backup. See Processing a backup
• Run the revaluation in the current financial year. You can't run it after the year end
• Have your correct exchange rates ready for the period you're revaluing

Run the foreign currency revaluation

1. From the main menu, select Process, then Foreign Currency Revaluation.

2. Select the accounts to revalue: customers, suppliers, cash books, or any combination.

3. Select Next.

4. Select the Period for the revaluation.

5. Select Edit Exchange Rates.

6. Select the currency from the dropdown.

7. Set the exchange rate for that currency for the revaluation period. 

   Repeat for each currency you're revaluing.

8. Select OK.

9. In the Starting Reference field, enter your reference.

10. Select Next.

11. Print the Foreign Currency Variance Report.

     

    CAUTION:

    Check the report carefully. Sage 50cloud Pastel posts the figures on this report as your adjustment variances.

     

12. If the report is correct, select Next.

13. Select Process.

If the adjustments are wrong

Restore your backup from before the revaluation. See Restoring a backup. Then check your exchange rates and run the revaluation again.