Foreign Currency Revalution

[Former Member]

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.

[Former Member · Accepted solution]

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

[Former Member · Accepted solution]

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

[Former Member]

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

[Former Member]

HI

Can you let me know the diff between Keys KDB -KDF.

Niranjan

[Former Member]

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

[Former Member]

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

[Former Member]

Dear Rohit,

We want calculate FC valuation Vendor and customer open item pl tel me which accounts assign KDB and KDF transation and which account assign exchange rate difference key......

Regards

KSP

[atif_farooq]

Hi,

In OBA1..KDF...just maintain vendor and customer reconciliation accounts alongwith GRIR clearing account if you want them to be revalued.. Once you are done,enter accounts in it for gain and loss on revaluation and adjustment account to which revalued figures will be posted. This will suffice your requirment..

Regards

[Former Member]

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

[Former Member]

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

[Former Member]

Dear KSP

Here you can give your Recon A/c and currency type and also give gain and loss a/c

Regards

shankar

[Former Member]

Thanxs Siva,

But we need configuration Steeps pls tel me configuration steeps one by one any assignment of vender & customer master

where can i assign foreign currency like USD ple tel me,

Regards

KSP

[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

[Former Member]

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

[Former Member]

Hi Sanker,

Which GL accounts we are asign to account deterimination OBA1 KDB and KDF

Regards

KSP