Step-by-step guide for adjust exchange rate batch job

StepsDescription
1Select the search for page icon in the top-right corner of the page, enter Currencies, and then select the related link
2

Select the currency code then select Action Home=> Exch. Rate


or 

Select the currency code then select Action Process=> Exch. Rate

3

Enter the new exchange rate for the new starting period and enter the adjmt. Exch for the existing period that need to adjust the exchange rate.

The case scenario is shows on the sample screen as below:

  • GBP exchange rate from 1/1/2021 to 1/31/2021 is 10.925
  • Starting from 2/1/2021, the exchange rate for GBP is 11.235 
  • Exchange rate adjustment for existing Cust, Vendor, Bank ledger entries is needs.

Remarks: in this case example, 1 GBP = 11.235 Local Currency.

Steps:

1 . create a new line for the exchange rate 11.235 it start from 2/1/2021

2. enter the adjustment Exch. Rate Amount and Relational Adjmt Exch Rate Amt to the lines it need to adjust exchange rate for the open entries during the period

4


Adjust exchange rate - Select the Action Home=> Adjust Exchange Rate

or

Adjust exchange rate - Select the Action Process=> Adjust Exchange Rate




5

Fill in the following fields on the Adjust Exchange Rates batch job page then click OK to run the adjustment.

**PLEASE NOTE: system will adjust the exchange rate and post the GL entries accordingly.

Starting Date - Identifies the first date to use for locating and adjusting transactions. Generally, this field is left blank so that all transactions are adjusted.

Ending Date - Identifies the last date to use for locating and adjusting transactions. This date is usually the same as the Posting Date.

*Use the Ending Date field to retrieve the adjustment exchange rate for the batch job on the Currency Exchange Rates page.

Posting Description - Describes the general ledger entries that are created by the batch job.

*The default text is Exchange Rate Adjmt. of %1 %2.  When you post the entries, the %1 is replaced by the currency code and %2 is replaced by the currency amount that is adjusted. the description to be Exchange Rate Adjmt. of EUR 38,000.

Posting Date - Specifies the date on which the adjustment entries are posted.

Document No - Identifies the document number that appears on the general ledger entries that are created by the batch job.

*In BC standard, the document number must enter in the batch job page manually. 

Adjust Customer, Vendor and Bank Accounts - Adjusts customer, vendor, and bank account entries for currency fluctuations.

Filter - select the currency codes if you wnat to adjust one currency only


Tips:

Please be remind the adjust exchange rate batch job processes all open customer/vendor/bank ledger entries.  the is better to update relational adjmt exch rate amt for the period it may need to adjsut for prevent missing unless the user can ensure there is no open entries it use the old exchange rate during the period.

To Review the results of the adjust exchange rate batch job

PageDescription
Exchange Rate Adjustment Registers 

 The Exchange Rate Adjustment Registers page provides an overview of all the exchange rate adjustments that are made by the Adjust Exchange Rates batch job. 

Select the currency code then select Action Home=> Exchange Rage Adjust. Register

Select the currency code then select Action Process => Exchange Rage Adjust. Register

Exchange Rate Adjustment Registers 


Customer Ledger Entries / Vendor Ledger Entries 

The batch job processes all open customer ledger entries and vendor ledger entries. If an exchange rate difference exists for an entry, the batch job creates a new detailed customer or vendor ledger entry with an Entry Type of Unrealized Gain or Unrealized Loss, which reflects the adjusted amount on the customer or vendor ledger entry.

Example below shows the effect on Customer ledger entries

Amount (LCY) before exchange rate adjustment = 12.50 x 10.925 = 136.56

Amount (LCY) after exchange rate adjustment = 12.50 x 11.235 = 140.44

The adjustment entries to be shows on the detailed customer ledger entries

G/L Register

G/L Registers - user can find the related entries in G/L Registers Page.  Source Code EXCHRATDJ for the Adjust Exchange Rage Batch job 

G/L Entries