How to Create a General Ledger Revaluation Batch in Sage 300

Sage 300 offers multicurrency options for organizations that work with more than one currency.   Along with this feature Sage 300 provides a way for you to revalue General Ledger accounting entries, which are different than your functional currency. Revaluation is an adjustment in the value of currency with respect to another currency at a benchmark rate of exchange.

Use the G/L Create Revaluation Batch screen in Sage 300 to revalue the functional-currency equivalents of each specified source-currency amount using the exchange rate you enter.

When you create a revaluation batch, General Ledger does the following:

• Recalculates the functional currency equivalent values of source currency account balances at new exchange rates.

• Creates a transaction for the difference between the old functional currency equivalent and the new value, posting the difference to the account being revalued and to the unrealized exchange gain/loss accounts or to the recognized exchange gain/loss accounts.

The revaluation code assigned to an account determines:

• The rate type that is used to display the default exchange rate

• The source code to assign to revaluation transactions

• The exchange gain/loss accounts to which exchange differences are posted.

Step 1:

• Create a Revaluation Code

  • G/L Setup → Revaluation Codes

  • Select the Rate Type to be used when creating the Revaluation Batch

  • Select the Source Code to assign as default for revaluation transactions

  • Select the Unrealized Exchange Gain and Loss accounts

Step 2:

Note: Revaluation can only be performed on G/L Accounts flagged as “Multicurrency”

• Go to G/L Setup → Accounts

• Select each Account that should be considered for Revaluation and activate Multicurrency

  • The Currency tab appears for further configuration

• Select the Default Currency – this code appears as the default when you enter transactions for the account, but you can change the currency code when you enter transactions.

• Specify the source currency

Note: Leave Revaluation Code blank as this will be selected during Create Revaluation Batch

Step 3: Creating Revaluation Batch

• Go to G/L Periodic Processing → Create Revaluation Batch

• Enter a Batch description – This description is printed on batch listings, and appears with the batch number when you use the Finder to view lists of batches

• Currency Code – Specify the code for the source currency you are revaluing

• Account From / To – Select a range of accounts that you want revalued

• Revaluation Code – Specify the code for the source currency you are revaluing

• Fiscal Year – Specify the fiscal year for which you want accounts revalued

• Fiscal Period – Specify the time period over which the revaluation occurs

• J/E Date – Specify the journal entry date that will be entered with each transaction created by the G/L Create Revaluation

• Revaluation Rate – Specify the exchange rate that will be in effect for all accounts using this revaluation code

• Rate Date – This field displays the date associated with the exchange rate

• Force Reval

If you force revaluation, General Ledger processes all accounts that meet all of the following conditions:

• Within the specified range

• Post to the selected currency

• Revaluation option set to “No” for this currency on the G/L Accounts screen

If you do not force revaluation, General Ledger processes all accounts that meet all of the following conditions:

• Within the specified range

• Post to the selected currency

• Revaluation option set to Yes for this currency on the G/L Accounts screen

• Revaluation code exists on the G/L Accounts screen for this currency

Click “Process” to Create the Revaluation Batch

Need further help with this process or other Sage 300 funcationality, call us and we will be happy to help!