Currency reports
See your foreign currency receivables and payables revalued at today's rates, the unrealised exchange gain or loss, and post the month-end revaluation.
Before you start
- Set up currenciesYou need your base currency, each foreign currency's exchange rates, and its unrealised gain and loss accounts.
- Close a periodPost revaluation works on fiscal periods, and both the period and the next one must be open.
- Set up customer posting groupsThe receivable and customer advance accounts these reports read.
- Set up vendor posting groupsThe payable accounts these reports read.
In this article
Two reports under Reports › Currency Reports. Neither one posts anything by itself; Post revaluation on the Unrealised FX page is the only part that posts.
| Report | Answers |
|---|---|
| Foreign Currency Balances | What receivables, payables and customer advances do we hold in foreign currencies, and what are they worth at the rate on a date? |
| Unrealised FX | What exchange gain or loss is hidden in those balances? Post it at month end. |
Steps
Choose the filters and run
Select Reports › Currency Reports › Unrealised FX (or Foreign Currency Balances). Both have the same filters.
- As at: the balances on this date.
- Rate date: the date of the exchange rates to use. Leave it empty to use the as-at date. The latest rate on or before this date is used.
- Currency: one currency or All foreign currencies.
- Customer: one customer, or all.
- Vendor: one vendor, or all.
- Run.
- Post revaluation: posts the gain or loss for a period (see below). Only users with the revaluation permission see it.
When there are no foreign currency balances you see "There are no foreign currency balances at this date."
Read the results
Foreign Currency Balances shows Booked (base), Revalued (base), Difference and Not revalued (no rate), then a table By currency (Rate, Rate date, Document balance, Booked, Revalued, Gain, Loss, Difference), a Balances table per customer or vendor and account, and the Control accounts read.
Unrealised FX shows Unrealised gain, Unrealised loss, Net gain or (loss) and Not revalued (no rate), with the same detail by currency and by balance.
Post the month-end revaluation
Under Post revaluation, choose a Period. WbizManager previews the gain and loss per currency, the gain and loss accounts it will use, and each balance with its Carrying, Revalued and Adjustment amounts. Select Post revaluation, then confirm "Post a net gain (or loss) of … at …".
The posting reverses itself on the first day of the next period, so next month starts from the booked amounts again. Only one revaluation is allowed per period. Revaluation history lists each one with its Period, As at, Rates, Gain, Loss, Status and when it was Posted. To undo one, choose reverse and give a reason; both periods must still be open.
How the figures are worked out
| Figure | How it's worked out |
|---|---|
| Document balance | The open amount in the foreign currency. |
| Booked | What that amount is carried at in base currency (at the rates of the original documents). |
| Revalued | Document balance × the rate on or before the rate date. |
| Difference / gain or loss | Revalued less booked, debit-positive: a positive figure is a gain (a receivable worth more, a payable worth less), a negative one a loss. |
| Not revalued (no rate) | Balances in a currency with no rate on or before the rate date. Add the rate in set up currencies. |
| Post revaluation | Also includes foreign currency bank accounts, and posts to each currency's unrealised gain and loss accounts. |
Related
- Set up currencies.
- Close a period: post the revaluation before you close the month.