How To: Revalue Foreign Currency Accounts

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The Sterling value of a nominal can be changed without changing the (for example) Euro figure which appears on the Bank Account screen.

  1. Open an Accounts screen (show me how).
  2. Go to the [ Nominal Accounts | Trial Balance ] screen.
  3. Filter for the date the system will use to revalue the balance, i.e. if you want to revalue as at 28/02/2019 filter for this date.
    Note: if you don't filter for the date, you will see the following warning when attempting to revalue the account:

    warning when not setting date filter

  4. Focus on a foreign bank account.
  5. Right click to bring up the context menu and select 'Adjust Foreign Bank Account'
  6. In the dialog, the BASE CURRENCY amount to set the BASE bank value to, select the posting date, select the nominal account for the difference to be journalled into and then click on OK.

    Revalue Foreign Currency Accounts dialog

  7. Click Yes in the Confirm popup. The foreign bank account total will be updated and the new transaction in the bank account will be automatically reconciled (ledger payment).


  1. The system will use the balance of the selected account based on any date filters applied and not the balance on the posting date specified in the confirmation prompt.
  2. DO NOT update the reconciled bank account balance OR assign a reconciled ID.
  3. The changes can be seen by:
    1. Focusing on the foreign bank account in the Trial Balance grid.
    2. Clicking on the Sc Accounts taDetail taNominalAccounts BtnOpenDetail.jpg button above the right-hand grid.
    3. Double clicking on the entry to open the source document.
    4. Click on show journal to see the journal entries related to the changes that have been made.
  4. The system does not carry out any conversions, you are simply entering a new base currency figure that has been previously calculated by whatever means you choose, based on whatever exchange rate you wish to use.
  5. When using this option, you are asked to verify the figure being posted to the foreign bank revaluation nominal, so that’s a good opportunity to make sure it aligns with what you expect.

See Also

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