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Former Member

Foreign Currency Revalution

Dear All,

How to revalute Foreign Currency Vendors & Customers open items, Pls tel me step by step configurations and what is settings needed,

Regards,

KSP.

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  • Best Answer
    author's profile photo Former Member
    Former Member
    Posted on Nov 07, 2011 at 06:20 AM

    Dear ksp

    adjustment account would be forex reval a/p and a/r 2 seperate account

    maintain it as balance sheet and use account group as trade payables and trade recievables.

    thanks and regards

    rohit

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    • Former Member

      HI All,

      In the GL Master, FS00, Exchange rate difference key field is there. What is the use of this field?

      In this field, I can see that Fx Gain/Loss Accounts I assigned in KDB Key in OBA1. Do I have to maintain this key in GL Master When I create any GL Master for Loan Account in Foreign Currency?

      and requesting you all to brief me that for what kind of accounts, Foreign Currency Valuation is to be done.

      Thanks,

      Niranjan

  • author's profile photo Former Member
    Former Member
    Posted on Nov 07, 2011 at 04:55 AM

    hi

    for KDP transaction( exchange rate difference):

    under expense account and gains --- make 2 p& l accounts one exchange gain and other as exchange loss.

    for kdf:

    these are the bank accounts where the adjustments i.e. the exchange rate differences have to be posted.

    i hope you clear

    regards

    rohit

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    • Former Member Former Member

      Dear KSP

      First you create one Gain and Loss GL's and you have to assign in OBA1 & OB09 field under KDF (fill your Reco. curry. and currecy type)

      after that you have to run you foreign currency FAGL_FC_VAL - Foreign Currency Valuation

      Regards

      shankar

  • author's profile photo Former Member
    Former Member
    Posted on Nov 07, 2011 at 04:38 AM

    Dear KSP

    1. Maintain valuation method under this path

    IMG- Financial Accounting- General Ledger Accounting -Business Transactions -Closing - Valuating - Foreign Currency Valuation - Define Valuation methods or( FAGL_FC_VAL - Foreign Currency Valuation )

    2.Prepare automatic postings for foreign currency valuation - OBA1

    Here the gain and loss account assigned to accounting key KDB and KDF for automatic posting.

    Regards

    shankar

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 07, 2011 at 05:25 AM

    hi KSP123

    you can config foreign currency reval as follows:

    define account principle

    path: SPRO- Financial accounting(new)-Financial accounting global setting (new)-Ledgers-Parallel accounting-Define accounting principles

    assigning account principal to ledger group

    path:

    same path you will find

    define valuation method:

    Financial accounting (new)- General ledger accounting (new)-Periodic processing u2013 Valuate- Define valuation methods

    define valuation area:

    same path you will get it

    prepare automatic posting for foreign currency revaluation:

    OBA1

    NOW ASSIGN ACCOUNT AS I SAID YOU IN PREVIOUS POSTING

    DEFINE LEDGER GROUP:

    Financial accounting (new)- Financial accounting Global settings (new) u2013 Ledger-Define ledger group

    now assign exchange rate difference key defined above in G/L master

    this is the integration point between g/l and revaluation.

    i hope you clear on that now.

    if any doubt.. keep posted

    regards

    rohit

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    • Former Member Atif Farooq

      Dear Farooq,

      Which Adjustment account & where can i the adjustment account assign, Vendor and customer both are one 1 adjustment need or separete account needed, Under which account group i can creat balance sheet adjustment account? pls let me me know this one.....Under laibilities group or Assets group Balance sheet adjustment account can i creat?

      Regards

      KSP

      Edited by: KSP123 on Nov 7, 2011 7:13 AM

  • author's profile photo Former Member
    Former Member
    Posted on Nov 07, 2011 at 06:00 AM

    hi

    for KDB assign as said above

    under kdf you will have to maintain the reconcilliation account used for customer and vendors i.e. your accounts recievables and payables.

    to maintain that use same loss and gain account defined in kdb in fields loss and gain in kdf.

    i hope its clear now..

    keep posted

    regards

    rohit

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 08, 2011 at 05:14 AM

    dear,

    While doinr transactions for the accounts which maintain different currency transactions

    Eg: bank account using other that cc currency

    You maintain this key in fs00

    You specify in which accounts valuation differences are to be posted to under the exchange rate difference key in the system. The same accounts which you maintain in KDB.

    Valuation is done for bank accounts , payables etc the accounts which take postings in foreign currency

    Regards

    rohit

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