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CU03.1 - Currency Gain Loss Accounts
Use Currency Gain Loss Accounts (CU03.1) to define realized and unrealized
gain and loss accounts for currency relationships you want a company to
recognize.
You must set up one set of currency gain and loss accounts, which includes:
realized gain, unrealized gain, realized loss, and unrealized loss. This set
of accounts is used for all currency relationships, unless you select
different
gain and loss accounts for a specific currency relationship and/or system
code.
**More Information
The Currency system posts amounts to a realized or unrealized gain or
loss account if there is a difference between the beginning and ending
currency
value of a transaction. For example, if you define an invoice with an exchange
rate, and the rate changes by the time you pay the invoice, the system posts
the difference to a gain or loss account.
When open transactions exist at the end of a period, the ending exchange
rate is used to compute the company's currency exposure. If a negative
(credit)
variance exists between the beginning exchange value of a transaction and
the ending exchange value of that transaction, the variance amount is posted
to the Unrealized Gain Account. If a positive (debit) variance exists between
the beginning exchange value of a transaction and the ending exchange value
of that transaction, the variance amount is posted to the Unrealized Loss
Account.
NOTE You must define the company in GL10.1 (Company) before you can
define currency gain and loss account information.
Updated Files
ADDRDATA -
CUACCT -
CURELAT -
GLMASTER -
Referenced Files
CUTABLE -
GLADDRESS -
GLCHART -
GLCODES -
GLSYSTEM -
INSTCTRYCD -
INVOKED Programs
IFAC
ACAC
ACTA
API4
IFCU
IFOB
IFSG
IFLU
IFUP
SLSE
SLSU
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