Case scenario:
The vendor ledger entry is posted in last month and the month end process for Adjust Exchange Rates batch job have been done.
However, user find that there the entry needs to reverse due to incorrect posting in current month.
Handling
Refer to the case above, the entry is not allowed to reverse due to the local currency may be different after exchange rate adjustment and the related entries for exchange gain and loss is associated to the vendor ledger entry.
User may need to run the Adjust Exchange Rates Batch job for offset the exchange gain or loss for the entry then use general journal to reverse manually.
Steps below for revers:
1) Run the Aged Account Payable Report and Aged Account Receivable Report. This process aims to capture the original amount for FCY and LCY before run the Adjust Exchange Rate for the reverse process.
2) Go to General Ledger Entry to check the Latest Entry No. and mark down the number. This process is for verify the entry it is expected to generate after run the adjust exchange rate batch job.
3) Go to the Currency => Exch. Rates and then enter the Relational Adjmt. Exch Rate Amount for the month that the entry is posted.
For example, the original exchange rate is 0.73 at November and use this rate to book the vendor ledger entry. At December, the exchange rate is adjusted to 0.7
Then enter 0.73 into Relational Adjmt. Exch Rate Amount for November
4) Run the Adjust Exchange Rates Batch job for the month (e.g. November) enter criteria as much as you can for prevent effected to other entry
e.g. Ending Date is 30/11/2022, Posting Date = 30/11/2022, Adjust Vendors, Filter Currency - only for the currency for the entry it need to reverse.
5) Go to General Ledger Entries to check the posted entries it created from step 4
6) Run the Aged Account Payable Report and Aged Account Receivable Report and use for compare with the report run by step 1
7) Check the Detailed Vendor Ledger Entries it need to reverse to verify the exchange Gain/Loss is offseted
8) Create General Journal for reverse the Vendor Ledger entry. Please note, the new vendor ledger entry to be apply to the original entry.
9) Go to Currency => Exch. Rate and then change back the Relational Adjmt. Exch Rate Amount it changed in step 3
**if other vendor ledger entry is affected by step 4, run the Adjust Exchange Rates batch job for Vendor entry for the month again after step 9